SERTYN HILDE: 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.
SERTYN HILDE
Largest movements
- Cash +€44,226
up €44,226 (+22.6%), from €195,814 to €240,040
mainly Net result for the year (+€59,579) and Depreciation (+€8,149)
- Tangible fixed assets -€8,149
down €8,149 (-45.9%), from €17,750 to €9,602
- Receivables within one year +€6,705
new in 2025: €6,705
of which Trade receivables: +€4,831
- Reserves +€59,579
up €59,579 (+17.9%), from €332,098 to €391,677
- Other debts -€20,504
down €20,504 (-28.5%), from €71,939 to €51,435
- Tax, wage and social debts +€5,083
up €5,083 (+173%), from €2,938 to €8,021
of which Taxes: +€4,990
- Gross operating margin +€15,040
up €15,040 (+15.1%), from €99,696 to €114,736
- Taxes +€9,316
up €9,316 (+59.3%), from €15,721 to €25,037
- Depreciation -€2,823
down €2,823 (-25.7%), from €10,972 to €8,149
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.
Derived cash bridge
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 | €429,417 | €475,307 | +€45,891 | +10.7% |
| Fixed assets | 21/28 | €17,750 | €9,602 | -€8,149 | -45.9% |
| Tangible fixed assets | 22/27 | €17,750 | €9,602 | -€8,149 | -45.9% |
| Land and buildings | 22 | €11,520 | €7,638 | -€3,882 | -33.7% |
| Plant, machinery and equipment | 23 | €2,230 | €1,288 | -€941 | -42.2% |
| Furniture and vehicles | 24 | €4,000 | €675 | -€3,325 | -83.1% |
| Current assets | 29/58 | €411,666 | €465,706 | +€54,040 | +13.1% |
| Stocks and contracts in progress | 3 | €16,527 | €16,171 | -€356 | -2.2% |
| Stocks | 30/36 | €16,527 | €16,171 | -€356 | -2.2% |
| Amounts receivable within one year | 40/41 | - | €6,705 | +€6,705 | |
| Trade receivables | 40 | - | €4,831 | +€4,831 | |
| Other amounts receivable | 41 | - | €1,874 | +€1,874 | |
| Current investments | 50/53 | €199,325 | €202,790 | +€3,465 | +1.7% |
| Cash at bank and in hand | 54/58 | €195,814 | €240,040 | +€44,226 | +22.6% |
| Total equity and liabilities | 10/49 | €429,417 | €475,307 | +€45,891 | +10.7% |
| Equity | 10/15 | €350,698 | €410,277 | +€59,579 | +17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €332,098 | €391,677 | +€59,579 | +17.9% |
| Distributable reserves | 133 | €332,098 | €391,677 | +€59,579 | +17.9% |
| Amounts payable | 17/49 | €78,719 | €65,031 | -€13,688 | -17.4% |
| Amounts payable within one year | 42/48 | €78,719 | €65,031 | -€13,688 | -17.4% |
| Trade debts | 44 | €3,841 | €5,574 | +€1,733 | +45.1% |
| Suppliers | 440/4 | €3,841 | €5,574 | +€1,733 | +45.1% |
| Taxes, remuneration and social security | 45 | €2,938 | €8,021 | +€5,083 | +173% |
| Taxes | 450/3 | - | €4,990 | +€4,990 | |
| Remuneration and social security | 454/9 | €2,938 | €3,031 | +€93 | +3.2% |
| Other amounts payable | 47/48 | €71,939 | €51,435 | -€20,504 | -28.5% |
| Remuneration, social security and pensions | 62 | €24,269 | €23,237 | -€1,033 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,972 | €8,149 | -€2,823 | -25.7% |
| Other operating charges | 640/8 | €309 | €318 | +€9 | +2.9% |
| Gross operating margin | 9900 | €99,696 | €114,736 | +€15,040 | +15.1% |
| Operating profit (loss) | 9901 | €64,146 | €83,033 | +€18,887 | +29.4% |
| Financial income | 75/76B | €785 | €1,809 | +€1,024 | +130% |
| Recurring financial income | 75 | €785 | €1,809 | +€1,024 | +130% |
| Financial charges | 65/66B | €177 | €226 | +€49 | +28.0% |
| Recurring financial charges | 65 | €177 | €226 | +€49 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €64,755 | €84,616 | +€19,861 | +30.7% |
| Income taxes | 67/77 | €15,721 | €25,037 | +€9,316 | +59.3% |
| Profit (loss) for the period | 9904 | €49,034 | €59,579 | +€10,545 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €49,034 | €59,579 | +€10,545 | +21.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.