GROUP SEM: 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.
GROUP SEM
Largest movements
- Receivables within one year +€24,804
up €24,804 (+86.0%), from €28,838 to €53,642
of which Other amounts receivable: +€14,804
- Cash -€1,345
no longer reported in 2025 (was €1,345)
mainly Receivables within one year (-€24,804) and Deferred charges and accrued income (-€494)
- Profit (loss) carried forward +€15,102
up €15,102 (+78.8%), from €19,172 to €34,274
- Trade debts +€5,341
up €5,341 (+581.5%), from €919 to €6,260
- Short-term financial debts +€1,757
new in 2025: €1,757
- Tax, wage and social debts +€1,754
up €1,754 (+21.9%), from €7,996 to €9,750
of which Remuneration and social security: +€1,918
- Purchases and services +€82,810
up €82,810 (+43.2%), from €191,668 to €274,478
- Turnover +€77,493
up €77,493 (+36.1%), from €214,959 to €292,452
- Gross operating margin -€2,994
down €2,994 (-12.0%), from €24,859 to €21,865
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 | €31,086 | €55,040 | +€23,954 | +77.1% |
| Current assets | 29/58 | €31,086 | €55,040 | +€23,954 | +77.1% |
| Amounts receivable within one year | 40/41 | €28,838 | €53,642 | +€24,804 | +86.0% |
| Trade receivables | 40 | €5,000 | €15,000 | +€10,000 | +200.0% |
| Other amounts receivable | 41 | €23,838 | €38,642 | +€14,804 | +62.1% |
| Cash at bank and in hand | 54/58 | €1,345 | - | -€1,345 | |
| Deferred charges and accrued income | 490/1 | €903 | €1,397 | +€494 | +54.8% |
| Total equity and liabilities | 10/49 | €31,086 | €55,040 | +€23,954 | +77.1% |
| Equity | 10/15 | €22,172 | €37,274 | +€15,102 | +68.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,172 | €34,274 | +€15,102 | +78.8% |
| Amounts payable | 17/49 | €8,915 | €17,766 | +€8,852 | +99.3% |
| Amounts payable within one year | 42/48 | €8,915 | €17,766 | +€8,852 | +99.3% |
| Financial debts | 43 | - | €1,757 | +€1,757 | |
| Credit institutions | 430/8 | - | €1,757 | +€1,757 | |
| Trade debts | 44 | €919 | €6,260 | +€5,341 | +581.5% |
| Suppliers | 440/4 | €919 | €6,260 | +€5,341 | +581.5% |
| Taxes, remuneration and social security | 45 | €7,996 | €9,750 | +€1,754 | +21.9% |
| Taxes | 450/3 | €5,042 | €4,878 | -€164 | -3.2% |
| Remuneration and social security | 454/9 | €2,954 | €4,872 | +€1,918 | +64.9% |
| Turnover | 70 | €214,959 | €292,452 | +€77,493 | +36.1% |
| Non-recurring operating income | 76A | €1,568 | €3,891 | +€2,323 | +148.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €191,668 | €274,478 | +€82,810 | +43.2% |
| Other operating charges | 640/8 | €610 | €1,784 | +€1,173 | +192.3% |
| Gross operating margin | 9900 | €24,859 | €21,865 | -€2,994 | -12.0% |
| Operating profit (loss) | 9901 | €24,249 | €20,081 | -€4,168 | -17.2% |
| Financial charges | 65/66B | €36 | €101 | +€66 | +184.4% |
| Recurring financial charges | 65 | €36 | €101 | +€66 | +184.4% |
| Profit (loss) for the period before taxes | 9903 | €24,214 | €19,980 | -€4,233 | -17.5% |
| Income taxes | 67/77 | €5,042 | €4,878 | -€164 | -3.2% |
| Profit (loss) for the period | 9904 | €19,172 | €15,102 | -€4,069 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,172 | €15,102 | -€4,069 | -21.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.