SEMA FINANCES: 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.
SEMA FINANCES
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€113,470
up €113,470 (+59.8%), from €189,886 to €303,356
- Reserves -€93,946
down €93,946 (-19.9%), from €473,138 to €379,192
- Current portion of long-term debt -€18,869
no longer reported in 2025 (was €18,869)
- Gross operating margin -€5,006
down €5,006 (-43.4%), from €11,530 to €6,525
- Taxes -€1,056
down €1,056 (-31.8%), from €3,323 to €2,268
- Financial income +€809
up €809 (+1.0%), from €81,318 to €82,127
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 | €697,416 | €697,016 | -€401 | -0.1% |
| Fixed assets | 21/28 | €607,000 | €607,000 | = | 0.0% |
| Financial fixed assets | 28 | €607,000 | €607,000 | = | 0.0% |
| Current assets | 29/58 | €90,416 | €90,016 | -€401 | -0.4% |
| Amounts receivable after more than one year | 29 | €88,247 | €89,950 | +€1,703 | +1.9% |
| Other amounts receivable | 291 | €88,247 | €89,950 | +€1,703 | +1.9% |
| Amounts receivable within one year | 40/41 | €3 | €4 | +€0 | +6.2% |
| Other amounts receivable | 41 | €3 | €4 | +€0 | +6.2% |
| Cash at bank and in hand | 54/58 | €2,166 | €62 | -€2,104 | -97.1% |
| Total equity and liabilities | 10/49 | €697,416 | €697,016 | -€401 | -0.1% |
| Equity | 10/15 | €479,338 | €385,392 | -€93,946 | -19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €473,138 | €379,192 | -€93,946 | -19.9% |
| Distributable reserves | 133 | €473,138 | €379,192 | -€93,946 | -19.9% |
| Provisions and deferred taxes | 16 | €6,000 | €6,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €6,000 | €6,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €6,000 | €6,000 | = | 0.0% |
| Amounts payable | 17/49 | €212,079 | €305,624 | +€93,545 | +44.1% |
| Amounts payable within one year | 42/48 | €212,079 | €305,624 | +€93,545 | +44.1% |
| Current portion of amounts payable after more than one year | 42 | €18,869 | - | -€18,869 | |
| Taxes, remuneration and social security | 45 | €3,323 | €2,268 | -€1,056 | -31.8% |
| Taxes | 450/3 | €3,323 | €2,268 | -€1,056 | -31.8% |
| Other amounts payable | 47/48 | €189,886 | €303,356 | +€113,470 | +59.8% |
| Gross operating margin | 9900 | €11,530 | €6,525 | -€5,006 | -43.4% |
| Operating profit (loss) | 9901 | €11,530 | €6,525 | -€5,006 | -43.4% |
| Financial income | 75/76B | €81,318 | €82,127 | +€809 | +1.0% |
| Recurring financial income | 75 | €81,318 | €82,127 | +€809 | +1.0% |
| Financial charges | 65/66B | €396 | €331 | -€66 | -16.6% |
| Recurring financial charges | 65 | €396 | €331 | -€66 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €92,452 | €88,322 | -€4,131 | -4.5% |
| Income taxes | 67/77 | €3,323 | €2,268 | -€1,056 | -31.8% |
| Profit (loss) for the period | 9904 | €89,129 | €86,054 | -€3,075 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €89,129 | €86,054 | -€3,075 | -3.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.