S.E.M.M.: 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.
S.E.M.M.
Largest movements
- Cash -€164,348
down €164,348 (-35.1%), from €467,925 to €303,577
mainly Advances received (-€274,196) and Debts after one year (-€7,647)
- Receivables within one year -€33,108
down €33,108 (-8.6%), from €383,143 to €350,035
of which Other amounts receivable: -€59,767
- Advances received -€274,196
down €274,196 (-39.4%), from €696,340 to €422,145
- Other debts +€37,549
new in 2024: €37,549
- Tax, wage and social debts +€16,752
up €16,752 (+83.2%), from €20,134 to €36,886
- Reserves +€14,340
up €14,340 (+39.1%), from €36,671 to €51,011
- Financial charges -€13,093
down €13,093 (-47.9%), from €27,325 to €14,233
of which Non-recurring financial charges: -€20,000
- Taxes +€6,843
up €6,843 (+274.5%), from €2,492 to €9,335
- Other operating charges -€6,740
down €6,740 (-92.2%), from €7,307 to €567
- Gross operating margin +€4,780
up €4,780 (+11.6%), from €41,327 to €46,106
- Financial income -€2,752
down €2,752 (-95.9%), from €2,869 to €118
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €932,496 | €725,758 | -€206,738 | -22.2% |
| Fixed assets | 21/28 | €64,806 | €58,257 | -€6,550 | -10.1% |
| Tangible fixed assets | 22/27 | €54,212 | €47,662 | -€6,550 | -12.1% |
| Plant, machinery and equipment | 23 | €17,087 | €15,257 | -€1,830 | -10.7% |
| Furniture and vehicles | 24 | €10,419 | €10,123 | -€296 | -2.8% |
| Other tangible fixed assets | 26 | €26,706 | €22,282 | -€4,424 | -16.6% |
| Financial fixed assets | 28 | €10,595 | €10,595 | = | 0.0% |
| Current assets | 29/58 | €867,690 | €667,502 | -€200,188 | -23.1% |
| Amounts receivable within one year | 40/41 | €383,143 | €350,035 | -€33,108 | -8.6% |
| Trade receivables | 40 | €308,376 | €335,035 | +€26,659 | +8.6% |
| Other amounts receivable | 41 | €74,767 | €15,000 | -€59,767 | -79.9% |
| Cash at bank and in hand | 54/58 | €467,925 | €303,577 | -€164,348 | -35.1% |
| Deferred charges and accrued income | 490/1 | €16,621 | €13,890 | -€2,732 | -16.4% |
| Total equity and liabilities | 10/49 | €932,496 | €725,758 | -€206,738 | -22.2% |
| Equity | 10/15 | €105,569 | €119,909 | +€14,340 | +13.6% |
| Contributions | 10/11 | €26,000 | €26,000 | = | 0.0% |
| Reserves | 13 | €36,671 | €51,011 | +€14,340 | +39.1% |
| Distributable reserves | 133 | €36,671 | €51,011 | +€14,340 | +39.1% |
| Profit (loss) carried forward | 14 | €42,898 | €42,898 | = | 0.0% |
| Amounts payable | 17/49 | €826,927 | €605,849 | -€221,078 | -26.7% |
| Amounts payable after more than one year | 17 | €12,913 | €5,266 | -€7,647 | -59.2% |
| Financial debts | 170/4 | €12,913 | €5,266 | -€7,647 | -59.2% |
| Amounts payable within one year | 42/48 | €814,014 | €600,583 | -€213,431 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €7,430 | €7,647 | +€216 | +2.9% |
| Trade debts | 44 | €90,109 | €96,357 | +€6,248 | +6.9% |
| Suppliers | 440/4 | €90,109 | €96,357 | +€6,248 | +6.9% |
| Advances received on contracts in progress | 46 | €696,340 | €422,145 | -€274,196 | -39.4% |
| Taxes, remuneration and social security | 45 | €20,134 | €36,886 | +€16,752 | +83.2% |
| Taxes | 450/3 | €20,134 | €36,886 | +€16,752 | +83.2% |
| Other amounts payable | 47/48 | - | €37,549 | +€37,549 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,574 | €7,750 | +€2,176 | +39.0% |
| Other operating charges | 640/8 | €7,307 | €567 | -€6,740 | -92.2% |
| Gross operating margin | 9900 | €41,327 | €46,106 | +€4,780 | +11.6% |
| Operating profit (loss) | 9901 | €28,446 | €37,790 | +€9,344 | +32.8% |
| Financial income | 75/76B | €2,869 | €118 | -€2,752 | -95.9% |
| Recurring financial income | 75 | €2,869 | €118 | -€2,752 | -95.9% |
| Financial charges | 65/66B | €27,325 | €14,233 | -€13,093 | -47.9% |
| Recurring financial charges | 65 | €7,325 | €14,233 | +€6,907 | +94.3% |
| Non-recurring financial charges | 66B | €20,000 | - | -€20,000 | |
| Profit (loss) for the period before taxes | 9903 | €3,990 | €23,675 | +€19,685 | +493.3% |
| Income taxes | 67/77 | €2,492 | €9,335 | +€6,843 | +274.5% |
| Profit (loss) for the period | 9904 | €1,498 | €14,340 | +€12,842 | +857.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,498 | €14,340 | +€12,842 | +857.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.