SEM MANAGEMENT CONSULTING: 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.
SEM MANAGEMENT CONSULTING
Largest movements
- Cash +€35,005
up €35,005 (+462%), from €7,575 to €42,580
mainly Other debts (+€70,000) and Net result for the year (+€31,927)
- Receivables within one year -€6,008
down €6,008 (-6.2%), from €96,335 to €90,327
of which Trade receivables: -€8,752
- Other debts +€70,000
new in 2025: €70,000
- Reserves -€50,426
down €50,426 (-60.0%), from €84,058 to €33,632
- Trade debts +€10,137
up €10,137 (+446%), from €2,274 to €12,411
- Tax, wage and social debts -€2,005
down €2,005 (-13.9%), from €14,381 to €12,376
of which Remuneration and social security: -€2,181
- Gross operating margin -€15,819
down €15,819 (-26.9%), from €58,790 to €42,971
- Taxes -€3,412
down €3,412 (-28.0%), from €12,179 to €8,767
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 | €105,913 | €133,496 | +€27,583 | +26.0% |
| Fixed assets | 21/28 | €967 | €527 | -€440 | -45.5% |
| Tangible fixed assets | 22/27 | €877 | €437 | -€440 | -50.2% |
| Furniture and vehicles | 24 | €877 | €437 | -€440 | -50.2% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €104,946 | €132,969 | +€28,023 | +26.7% |
| Amounts receivable within one year | 40/41 | €96,335 | €90,327 | -€6,008 | -6.2% |
| Trade receivables | 40 | €22,500 | €13,748 | -€8,752 | -38.9% |
| Other amounts receivable | 41 | €73,835 | €76,579 | +€2,744 | +3.7% |
| Cash at bank and in hand | 54/58 | €7,575 | €42,580 | +€35,005 | +462% |
| Deferred charges and accrued income | 490/1 | €1,036 | €62 | -€974 | -94.0% |
| Total equity and liabilities | 10/49 | €105,913 | €133,496 | +€27,583 | +26.0% |
| Equity | 10/15 | €89,058 | €38,632 | -€50,426 | -56.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €84,058 | €33,632 | -€50,426 | -60.0% |
| Distributable reserves | 133 | €84,058 | €33,632 | -€50,426 | -60.0% |
| Amounts payable | 17/49 | €16,855 | €94,864 | +€78,009 | +463% |
| Amounts payable within one year | 42/48 | €16,655 | €94,864 | +€78,209 | +470% |
| Financial debts | 43 | - | €77 | +€77 | |
| Credit institutions | 430/8 | - | €77 | +€77 | |
| Trade debts | 44 | €2,274 | €12,411 | +€10,137 | +446% |
| Suppliers | 440/4 | €2,274 | €12,411 | +€10,137 | +446% |
| Taxes, remuneration and social security | 45 | €14,381 | €12,376 | -€2,005 | -13.9% |
| Taxes | 450/3 | €12,200 | €12,376 | +€176 | +1.4% |
| Remuneration and social security | 454/9 | €2,181 | - | -€2,181 | |
| Other amounts payable | 47/48 | - | €70,000 | +€70,000 | |
| Accrued charges and deferred income | 492/3 | €200 | - | -€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €440 | €440 | = | 0.0% |
| Other operating charges | 640/8 | €862 | €830 | -€32 | -3.7% |
| Gross operating margin | 9900 | €58,790 | €42,971 | -€15,819 | -26.9% |
| Operating profit (loss) | 9901 | €57,488 | €41,701 | -€15,787 | -27.5% |
| Financial charges | 65/66B | €722 | €1,007 | +€285 | +39.5% |
| Recurring financial charges | 65 | €722 | €1,007 | +€285 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €56,766 | €40,694 | -€16,072 | -28.3% |
| Income taxes | 67/77 | €12,179 | €8,767 | -€3,412 | -28.0% |
| Profit (loss) for the period | 9904 | €44,587 | €31,927 | -€12,660 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,587 | €31,927 | -€12,660 | -28.4% |
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 18 October 2026 via checked.be.