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.
SEM
Largest movements
- Receivables within one year -€4,259
down €4,259 (-89.1%), from €4,779 to €520
of which Trade receivables: -€4,258
- Tangible fixed assets -€446
down €446 (-30.8%), from €1,449 to €1,003
- Cash -€110
down €110 (-14.9%), from €737 to €627
mainly Net result for the year (-€5,353) and Trade debts (-€4,757)
- Other debts +€5,398
up €5,398 (+95.9%), from €5,627 to €11,025
- Profit (loss) carried forward -€5,353
down €5,353 (-34.0%), from -€15,737 to -€21,090
- Trade debts -€4,757
down €4,757 (-84.3%), from €5,644 to €887
- Tax, wage and social debts -€101
down €101 (-1.9%), from €5,232 to €5,131
of which Remuneration and social security: -€433
- Gross operating margin -€1,449
down €1,449 (-68.5%), from -€2,116 to -€3,565
- Other operating charges +€558
up €558 (+82.5%), from €677 to €1,235
- Financial charges -€225
down €225 (-67.8%), from €332 to €107
- Financial income -€87
no longer reported in 2024 (was €87)
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 | €6,964 | €2,150 | -€4,814 | -69.1% |
| Fixed assets | 21/28 | €1,449 | €1,003 | -€446 | -30.8% |
| Tangible fixed assets | 22/27 | €1,449 | €1,003 | -€446 | -30.8% |
| Plant, machinery and equipment | 23 | €1,449 | €1,003 | -€446 | -30.8% |
| Current assets | 29/58 | €5,515 | €1,147 | -€4,368 | -79.2% |
| Amounts receivable within one year | 40/41 | €4,779 | €520 | -€4,259 | -89.1% |
| Trade receivables | 40 | €4,258 | - | -€4,258 | |
| Other amounts receivable | 41 | €520 | €520 | -€0 | -0.1% |
| Cash at bank and in hand | 54/58 | €737 | €627 | -€110 | -14.9% |
| Total equity and liabilities | 10/49 | €6,964 | €2,150 | -€4,814 | -69.1% |
| Equity | 10/15 | -€9,540 | -€14,893 | -€5,353 | -56.1% |
| Contributions | 10/11 | €6,197 | €6,197 | -€0 | 0.0% |
| Outside capital | 11 | €6,197 | €6,197 | -€0 | 0.0% |
| Other | 1109/19 | €6,197 | €6,197 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€15,737 | -€21,090 | -€5,353 | -34.0% |
| Amounts payable | 17/49 | €16,504 | €17,043 | +€539 | +3.3% |
| Amounts payable within one year | 42/48 | €16,504 | €17,043 | +€539 | +3.3% |
| Trade debts | 44 | €5,644 | €887 | -€4,757 | -84.3% |
| Suppliers | 440/4 | €5,644 | €887 | -€4,757 | -84.3% |
| Taxes, remuneration and social security | 45 | €5,232 | €5,131 | -€101 | -1.9% |
| Taxes | 450/3 | €1,736 | €2,067 | +€331 | +19.1% |
| Remuneration and social security | 454/9 | €3,497 | €3,064 | -€433 | -12.4% |
| Other amounts payable | 47/48 | €5,627 | €11,025 | +€5,398 | +95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €446 | €446 | +€0 | 0.0% |
| Other operating charges | 640/8 | €677 | €1,235 | +€558 | +82.5% |
| Gross operating margin | 9900 | -€2,116 | -€3,565 | -€1,449 | -68.5% |
| Operating profit (loss) | 9901 | -€3,239 | -€5,246 | -€2,007 | -62.0% |
| Financial income | 75/76B | €87 | - | -€87 | |
| Recurring financial income | 75 | €87 | - | -€87 | |
| Financial charges | 65/66B | €332 | €107 | -€225 | -67.8% |
| Recurring financial charges | 65 | €332 | €107 | -€225 | -67.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,484 | -€5,353 | -€1,869 | -53.7% |
| Profit (loss) for the period | 9904 | -€3,484 | -€5,353 | -€1,869 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,484 | -€5,353 | -€1,869 | -53.7% |
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 29 September 2026 via checked.be.