JACOB SEMEY: 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.
JACOB SEMEY
Largest movements
- Deferred charges and accrued income -€9,100
down €9,100 (-68.9%), from €13,200 to €4,100
- Tangible fixed assets -€8,473
down €8,473 (-4.3%), from €196,950 to €188,476
- Reserves -€25,508
down €25,508 (-19.3%), from €131,867 to €106,359
of which Distributable reserves: -€25,508
- Trade debts +€7,746
up €7,746, from €0 to €7,746
- Other operating charges -€2,486
down €2,486 (-19.1%), from €12,995 to €10,509
- Gross operating margin +€218
up €218 (+3.6%), from -€6,098 to -€5,880
- Financial charges +€146
up €146 (+29.1%), from €500 to €646
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 | €303,517 | €285,707 | -€17,810 | -5.9% |
| Fixed assets | 21/28 | €197,179 | €188,705 | -€8,473 | -4.3% |
| Tangible fixed assets | 22/27 | €196,950 | €188,476 | -€8,473 | -4.3% |
| Land and buildings | 22 | €196,950 | €188,476 | -€8,473 | -4.3% |
| Financial fixed assets | 28 | €229 | €229 | = | 0.0% |
| Current assets | 29/58 | €106,338 | €97,002 | -€9,336 | -8.8% |
| Amounts receivable within one year | 40/41 | €152 | €0 | -€152 | -100% |
| Other amounts receivable | 41 | €152 | €0 | -€152 | -100% |
| Cash at bank and in hand | 54/58 | €92,986 | €92,902 | -€84 | -0.1% |
| Deferred charges and accrued income | 490/1 | €13,200 | €4,100 | -€9,100 | -68.9% |
| Total equity and liabilities | 10/49 | €303,517 | €285,707 | -€17,810 | -5.9% |
| Equity | 10/15 | €301,867 | €276,359 | -€25,508 | -8.5% |
| Contributions | 10/11 | €170,000 | €170,000 | = | 0.0% |
| Reserves | 13 | €131,867 | €106,359 | -€25,508 | -19.3% |
| Tax-exempt reserves | 132 | €9,514 | €9,514 | = | 0.0% |
| Distributable reserves | 133 | €122,353 | €96,845 | -€25,508 | -20.8% |
| Amounts payable | 17/49 | €1,650 | €9,348 | +€7,698 | +467% |
| Amounts payable within one year | 42/48 | €1,650 | €9,348 | +€7,698 | +467% |
| Trade debts | 44 | €0 | €7,746 | +€7,746 | |
| Suppliers | 440/4 | €0 | €7,746 | +€7,746 | |
| Taxes, remuneration and social security | 45 | €74 | €74 | = | 0.0% |
| Taxes | 450/3 | €74 | €74 | = | 0.0% |
| Other amounts payable | 47/48 | €1,576 | €1,528 | -€48 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,473 | €8,473 | +€0 | 0.0% |
| Other operating charges | 640/8 | €12,995 | €10,509 | -€2,486 | -19.1% |
| Gross operating margin | 9900 | -€6,098 | -€5,880 | +€218 | +3.6% |
| Operating profit (loss) | 9901 | -€27,566 | -€24,862 | +€2,704 | +9.8% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €500 | €646 | +€146 | +29.1% |
| Recurring financial charges | 65 | €500 | €646 | +€146 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,062 | -€25,508 | +€2,554 | +9.1% |
| Profit (loss) for the period | 9904 | -€28,062 | -€25,508 | +€2,554 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,062 | -€25,508 | +€2,554 | +9.1% |
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 1 November 2026 via checked.be.