Sertius Group: what changed
Two fiscal 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.
Sertius Group
Largest movements
- Cash -€138,978
down €138,978 (-84.9%), from €163,674 to €24,695
mainly Trade debts (-€467,380) and Debts after one year (-€260,113)
- Receivables within one year -€120,981
down €120,981 (-19.1%), from €633,063 to €512,081
of which Trade receivables: -€624,677
- Trade debts -€467,380
down €467,380 (-98.9%), from €472,539 to €5,159
- Tax, wage and social debts +€392,804
up €392,804 (+249.9%), from €157,159 to €549,963
- Debts after one year -€260,113
down €260,113 (-17.3%), from €1.5m to €1.2m
- Reserves +€243,250
up €243,250 (+10.6%), from €2.3m to €2.5m
- Accrued charges and deferred income -€94,652
down €94,652 (-100.0%), from €94,652 to €0
- Turnover -€2.8m
no longer reported in 2025 (was €2.8m)
- Services and other goods -€2.2m
no longer reported in 2025 (was €2.2m)
- Gross operating margin +€385,635
new in 2025: €385,635
- Financial charges -€67,946
down €67,946 (-51.7%), from €131,378 to €63,432
- Taxes -€57,892
down €57,892 (-41.7%), from €138,975 to €81,083
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,296,736 | €6,036,776 | -€259,960 | -4.1% |
| Fixed assets | 21/28 | €5,500,000 | €5,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €5,500,000 | €5,500,000 | = | 0.0% |
| Affiliated companies | 280/1 | €5,500,000 | - | -€5.5m | |
| Participating interests | 280 | €5,500,000 | - | -€5.5m | |
| Current assets | 29/58 | €796,736 | €536,776 | -€259,960 | -32.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €633,063 | €512,081 | -€120,981 | -19.1% |
| Trade receivables | 40 | €628,572 | €3,895 | -€624,677 | -99.4% |
| Other amounts receivable | 41 | €4,490 | €508,186 | +€503,695 | +11217.2% |
| Cash at bank and in hand | 54/58 | €163,674 | €24,695 | -€138,978 | -84.9% |
| Total equity and liabilities | 10/49 | €6,296,736 | €6,036,776 | -€259,960 | -4.1% |
| Equity | 10/15 | €3,802,416 | €4,045,665 | +€243,250 | +6.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €2,302,416 | €2,545,665 | +€243,250 | +10.6% |
| Distributable reserves | 133 | €2,302,416 | €2,545,665 | +€243,250 | +10.6% |
| Amounts payable | 17/49 | €2,494,320 | €1,991,111 | -€503,209 | -20.2% |
| Amounts payable after more than one year | 17 | €1,500,000 | €1,239,887 | -€260,113 | -17.3% |
| Financial debts | 170/4 | €1,500,000 | €1,239,887 | -€260,113 | -17.3% |
| Subordinated loans | 170 | €1,500,000 | - | -€1.5m | |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €899,669 | €751,224 | -€148,445 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €269,971 | €196,101 | -€73,869 | -27.4% |
| Trade debts | 44 | €472,539 | €5,159 | -€467,380 | -98.9% |
| Suppliers | 440/4 | €472,539 | €5,159 | -€467,380 | -98.9% |
| Taxes, remuneration and social security | 45 | €157,159 | €549,963 | +€392,804 | +249.9% |
| Taxes | 450/3 | €157,159 | €549,963 | +€392,804 | +249.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €94,652 | €0 | -€94,652 | -100.0% |
| Operating income | 70/76A | €2,818,443 | - | -€2.8m | |
| Turnover | 70 | €2,818,443 | - | -€2.8m | |
| Operating charges | 60/66A | €2,155,048 | - | -€2.2m | |
| Services and other goods | 61 | €2,153,002 | - | -€2.2m | |
| Other operating charges | 640/8 | €2,046 | €84 | -€1,962 | -95.9% |
| Gross operating margin | 9900 | - | €385,635 | +€385,635 | |
| Operating profit (loss) | 9901 | €663,396 | €385,551 | -€277,844 | -41.9% |
| Financial income | 75/76B | €0 | €2,214 | +€2,214 | +22135800.0% |
| Recurring financial income | 75 | €0 | €2,214 | +€2,214 | +22135800.0% |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Financial charges | 65/66B | €131,378 | €63,432 | -€67,946 | -51.7% |
| Recurring financial charges | 65 | €131,378 | €63,432 | -€67,946 | -51.7% |
| Debt charges | 650 | €130,705 | - | -€130,705 | |
| Other financial charges | 652/9 | €673 | - | -€673 | |
| Profit (loss) for the period before taxes | 9903 | €532,018 | €324,333 | -€207,685 | -39.0% |
| Income taxes | 67/77 | €138,975 | €81,083 | -€57,892 | -41.7% |
| Taxes | 670/3 | €138,975 | - | -€138,975 | |
| Profit (loss) for the period | 9904 | €393,043 | €243,250 | -€149,793 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €393,043 | €243,250 | -€149,793 | -38.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.