SERTIUS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
SERTIUS
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €2.3m+€66,875
Equity
€4.0m
2024 · €2.3m+€1.7m
Cash
€1.1m
2024 · €328,191+€815,441
Balance sheet total
€8.7m
2024 · €8.9m-€211,142
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-13.3%), from €8.1m to €7.0m
of which Trade receivables: -€1.1m
- Cash +€815,441
up €815,441 (+248.5%), from €328,191 to €1.1m
mainly Net result for the year (+€2.4m) and Receivables within one year (+€1.1m)
Equity and liabilities
- Profit (loss) carried forward +€1.7m
up €1.7m (+80.1%), from €2.1m to €3.8m
- Other debts -€1.3m
down €1.3m (-66.5%), from €1.9m to €647,428
- Trade debts -€590,574
down €590,574 (-32.6%), from €1.8m to €1.2m
- Tax, wage and social debts +€300,231
up €300,231 (+17.3%), from €1.7m to €2.0m
of which Taxes: +€290,148
- Accrued charges and deferred income -€191,059
down €191,059 (-26.5%), from €722,064 to €531,005
Income statement
- Turnover +€1.5m
up €1.5m (+9.4%), from €15.9m to €17.4m
- Services and other goods +€634,432
up €634,432 (+16.4%), from €3.9m to €4.5m
- Taxes +€466,180
up €466,180 (+207.2%), from €224,999 to €691,179
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€2.3m
Turnover
+€1.5m
Other operating income
-€83,652
Goods and materials
-€170,151
Services and other goods
-€634,432
Staff costs
-€15,630
Depreciation
-€32,831
Write-downs
-€1,430
Other operating charges
-€7,857
Financial income
+€152
Financial charges
-€7,915
Taxes
-€466,180
Result 2025
€2.4m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.8m
Investment
-€224,045
Financing
-€797,428
Cash 2024
€328,191
From operations (derived)
+€1.8m
Net result for the year
+€2.4m
Depreciation
+€113,558
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€65,845
Trade debts
-€590,574
Tax, wage and social debts
+€300,231
Other debts
-€1.3m
Accrued charges and deferred income
-€191,059
Investment (derived)
-€224,045
Investment in fixed assets (net)
-€224,045
Financing
-€797,428
Debts after one year
-€150,000
Contributions, distributions and other
-€647,428
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,913,519 | €8,702,377 | -€211,142 | -2.4% |
| Fixed assets | 21/28 | €305,733 | €416,221 | +€110,488 | +36.1% |
| Intangible fixed assets | 21 | €33,573 | €72,965 | +€39,392 | +117.3% |
| Tangible fixed assets | 22/27 | €207,873 | €252,220 | +€44,346 | +21.3% |
| Plant, machinery and equipment | 23 | €117,830 | €149,573 | +€31,742 | +26.9% |
| Furniture and vehicles | 24 | €26,535 | €36,485 | +€9,950 | +37.5% |
| Other tangible fixed assets | 26 | €63,508 | €66,162 | +€2,654 | +4.2% |
| Financial fixed assets | 28 | €64,288 | €91,037 | +€26,749 | +41.6% |
| Other financial fixed assets | 284/8 | €64,288 | €91,037 | +€26,749 | +41.6% |
| Amounts receivable and cash guarantees | 285/8 | €64,288 | €91,037 | +€26,749 | +41.6% |
| Current assets | 29/58 | €8,607,785 | €8,286,156 | -€321,629 | -3.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €8,069,205 | €6,997,980 | -€1.1m | -13.3% |
| Trade receivables | 40 | €8,068,726 | €6,997,501 | -€1.1m | -13.3% |
| Other amounts receivable | 41 | €479 | €479 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €328,191 | €1,143,632 | +€815,441 | +248.5% |
| Deferred charges and accrued income | 490/1 | €210,389 | €144,544 | -€65,845 | -31.3% |
| Total equity and liabilities | 10/49 | €8,913,519 | €8,702,377 | -€211,142 | -2.4% |
| Equity | 10/15 | €2,325,716 | €4,033,826 | +€1.7m | +73.4% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €17,676 | €17,676 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €176 | €176 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,133,040 | €3,841,150 | +€1.7m | +80.1% |
| Amounts payable | 17/49 | €6,587,803 | €4,668,551 | -€1.9m | -29.1% |
| Amounts payable after more than one year | 17 | €237,500 | €87,500 | -€150,000 | -63.2% |
| Financial debts | 170/4 | €237,500 | €87,500 | -€150,000 | -63.2% |
| Credit institutions | 173 | €237,500 | €87,500 | -€150,000 | -63.2% |
| Amounts payable within one year | 42/48 | €5,628,239 | €4,050,046 | -€1.6m | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €1,811,870 | €1,221,296 | -€590,574 | -32.6% |
| Suppliers | 440/4 | €1,811,870 | €1,221,296 | -€590,574 | -32.6% |
| Taxes, remuneration and social security | 45 | €1,731,091 | €2,031,322 | +€300,231 | +17.3% |
| Taxes | 450/3 | €1,081,362 | €1,371,510 | +€290,148 | +26.8% |
| Remuneration and social security | 454/9 | €649,729 | €659,812 | +€10,083 | +1.6% |
| Other amounts payable | 47/48 | €1,935,278 | €647,428 | -€1.3m | -66.5% |
| Accrued charges and deferred income | 492/3 | €722,064 | €531,005 | -€191,059 | -26.5% |
| Operating income | 70/76A | €16,129,606 | €17,532,756 | +€1.4m | +8.7% |
| Turnover | 70 | €15,896,493 | €17,383,295 | +€1.5m | +9.4% |
| Other operating income | 74 | €233,113 | €149,461 | -€83,652 | -35.9% |
| Operating charges | 60/66A | €13,557,737 | €14,420,068 | +€862,332 | +6.4% |
| Goods for resale, raw materials and consumables | 60 | €3,767,140 | €3,937,291 | +€170,151 | +4.5% |
| Purchases | 600/8 | €3,767,140 | €3,937,291 | +€170,151 | +4.5% |
| Services and other goods | 61 | €3,864,546 | €4,498,979 | +€634,432 | +16.4% |
| Remuneration, social security and pensions | 62 | €5,837,308 | €5,852,939 | +€15,630 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,727 | €113,558 | +€32,831 | +40.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €1,430 | +€1,430 | |
| Other operating charges | 640/8 | €8,015 | €15,872 | +€7,857 | +98.0% |
| Operating profit (loss) | 9901 | €2,571,869 | €3,112,687 | +€540,818 | +21.0% |
| Financial income | 75/76B | €1,852 | €2,004 | +€152 | +8.2% |
| Recurring financial income | 75 | €1,852 | €2,004 | +€152 | +8.2% |
| Other financial income | 752/9 | €1,852 | €2,004 | +€152 | +8.2% |
| Financial charges | 65/66B | €60,060 | €67,975 | +€7,915 | +13.2% |
| Recurring financial charges | 65 | €60,060 | €67,975 | +€7,915 | +13.2% |
| Debt charges | 650 | €52,616 | €60,885 | +€8,270 | +15.7% |
| Other financial charges | 652/9 | €7,444 | €7,090 | -€355 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €2,513,662 | €3,046,717 | +€533,055 | +21.2% |
| Income taxes | 67/77 | €224,999 | €691,179 | +€466,180 | +207.2% |
| Taxes | 670/3 | €224,999 | €691,179 | +€466,180 | +207.2% |
| Profit (loss) for the period | 9904 | €2,288,663 | €2,355,538 | +€66,875 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,288,663 | €2,355,538 | +€66,875 | +2.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.