SEM TEAM: 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 TEAM
Largest movements
- Receivables within one year -€39,359
down €39,359 (-6.6%), from €597,745 to €558,385
of which Trade receivables: -€115,781
- Cash +€11,769
up €11,769 (+5666.6%), from €208 to €11,977
mainly Other debts (+€100,000) and Net result for the year (+€51,950)
- Other debts +€100,000
new in 2025: €100,000
- Trade debts -€62,416
down €62,416 (-20.0%), from €311,625 to €249,209
- Profit (loss) carried forward -€48,050
down €48,050 (-20.5%), from €233,908 to €185,858
- Tax, wage and social debts -€14,331
down €14,331 (-26.9%), from €53,348 to €39,017
of which Taxes: -€16,620
- Turnover -€236,957
down €236,957 (-6.9%), from €3.4m to €3.2m
- Purchases and services -€234,680
down €234,680 (-7.0%), from €3.4m to €3.1m
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 | €610,881 | €586,084 | -€24,797 | -4.1% |
| Fixed assets | 21/28 | €8,203 | €11,216 | +€3,013 | +36.7% |
| Tangible fixed assets | 22/27 | €7,127 | €10,140 | +€3,013 | +42.3% |
| Plant, machinery and equipment | 23 | €42 | - | -€42 | |
| Furniture and vehicles | 24 | €7,085 | €10,140 | +€3,055 | +43.1% |
| Financial fixed assets | 28 | €1,076 | €1,076 | = | 0.0% |
| Current assets | 29/58 | €602,677 | €574,867 | -€27,810 | -4.6% |
| Amounts receivable within one year | 40/41 | €597,745 | €558,385 | -€39,359 | -6.6% |
| Trade receivables | 40 | €275,501 | €159,720 | -€115,781 | -42.0% |
| Other amounts receivable | 41 | €322,244 | €398,665 | +€76,422 | +23.7% |
| Cash at bank and in hand | 54/58 | €208 | €11,977 | +€11,769 | +5666.6% |
| Deferred charges and accrued income | 490/1 | €4,725 | €4,505 | -€220 | -4.6% |
| Total equity and liabilities | 10/49 | €610,881 | €586,084 | -€24,797 | -4.1% |
| Equity | 10/15 | €245,908 | €197,858 | -€48,050 | -19.5% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €233,908 | €185,858 | -€48,050 | -20.5% |
| Amounts payable | 17/49 | €364,973 | €388,226 | +€23,253 | +6.4% |
| Amounts payable within one year | 42/48 | €364,973 | €388,226 | +€23,253 | +6.4% |
| Trade debts | 44 | €311,625 | €249,209 | -€62,416 | -20.0% |
| Suppliers | 440/4 | €311,625 | €249,209 | -€62,416 | -20.0% |
| Taxes, remuneration and social security | 45 | €53,348 | €39,017 | -€14,331 | -26.9% |
| Taxes | 450/3 | €48,848 | €32,228 | -€16,620 | -34.0% |
| Remuneration and social security | 454/9 | €4,500 | €6,789 | +€2,289 | +50.9% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Turnover | 70 | €3,418,767 | €3,181,811 | -€236,957 | -6.9% |
| Non-recurring operating income | 76A | €14,925 | €21,717 | +€6,793 | +45.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,356,426 | €3,121,746 | -€234,680 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,235 | €5,239 | +€5 | +0.1% |
| Other operating charges | 640/8 | €1,282 | €1,660 | +€378 | +29.5% |
| Gross operating margin | 9900 | €77,266 | €81,782 | +€4,516 | +5.8% |
| Operating profit (loss) | 9901 | €70,750 | €74,883 | +€4,133 | +5.8% |
| Financial income | 75/76B | €105 | €40 | -€65 | -61.9% |
| Recurring financial income | 75 | €105 | €40 | -€65 | -61.9% |
| Financial charges | 65/66B | €1,308 | €6,142 | +€4,833 | +369.4% |
| Recurring financial charges | 65 | €1,308 | €6,142 | +€4,833 | +369.4% |
| Profit (loss) for the period before taxes | 9903 | €69,547 | €68,782 | -€765 | -1.1% |
| Income taxes | 67/77 | €15,396 | €16,832 | +€1,436 | +9.3% |
| Profit (loss) for the period | 9904 | €54,151 | €51,950 | -€2,201 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,151 | €51,950 | -€2,201 | -4.1% |
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 11 October 2026 via checked.be.