SEMACON: 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.
SEMACON
Largest movements
- Receivables within one year -€14,601
down €14,601 (-34.1%), from €42,822 to €28,221
of which Trade receivables: -€13,371
- Deferred charges and accrued income -€8,462
down €8,462 (-89.1%), from €9,494 to €1,032
- Tangible fixed assets -€5,738
down €5,738 (-26.6%), from €21,559 to €15,821
of which Other tangible fixed assets: -€2,891
- Cash -€5,250
down €5,250 (-5.4%), from €96,398 to €91,148
mainly Contributions, distributions and other (-€69,386) and Trade debts (-€1,352)
- Reserves -€67,854
down €67,854 (-64.6%), from €105,033 to €37,179
- Other debts +€36,010
up €36,010 (+122%), from €29,407 to €65,418
- Gross operating margin -€12,183
down €12,183 (-46.4%), from €26,253 to €14,070
- Taxes -€6,637
down €6,637 (-72.1%), from €9,210 to €2,573
- Financial charges +€1,177
up €1,177 (+45.9%), from €2,564 to €3,741
- Depreciation -€685
down €685 (-10.7%), from €6,423 to €5,738
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 | €170,273 | €136,222 | -€34,051 | -20.0% |
| Fixed assets | 21/28 | €21,559 | €15,821 | -€5,738 | -26.6% |
| Tangible fixed assets | 22/27 | €21,559 | €15,821 | -€5,738 | -26.6% |
| Plant, machinery and equipment | 23 | €228 | €114 | -€114 | -50.0% |
| Furniture and vehicles | 24 | €5,768 | €3,035 | -€2,733 | -47.4% |
| Other tangible fixed assets | 26 | €15,563 | €12,673 | -€2,891 | -18.6% |
| Current assets | 29/58 | €148,714 | €120,401 | -€28,313 | -19.0% |
| Amounts receivable within one year | 40/41 | €42,822 | €28,221 | -€14,601 | -34.1% |
| Trade receivables | 40 | €27,134 | €13,764 | -€13,371 | -49.3% |
| Other amounts receivable | 41 | €15,688 | €14,457 | -€1,231 | -7.8% |
| Cash at bank and in hand | 54/58 | €96,398 | €91,148 | -€5,250 | -5.4% |
| Deferred charges and accrued income | 490/1 | €9,494 | €1,032 | -€8,462 | -89.1% |
| Total equity and liabilities | 10/49 | €170,273 | €136,222 | -€34,051 | -20.0% |
| Equity | 10/15 | €123,633 | €55,779 | -€67,854 | -54.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105,033 | €37,179 | -€67,854 | -64.6% |
| Distributable reserves | 133 | €105,033 | €37,179 | -€67,854 | -64.6% |
| Amounts payable | 17/49 | €46,640 | €80,443 | +€33,803 | +72.5% |
| Amounts payable within one year | 42/48 | €46,640 | €80,443 | +€33,803 | +72.5% |
| Trade debts | 44 | €6,599 | €5,247 | -€1,352 | -20.5% |
| Suppliers | 440/4 | €6,599 | €5,247 | -€1,352 | -20.5% |
| Taxes, remuneration and social security | 45 | €10,633 | €9,778 | -€855 | -8.0% |
| Taxes | 450/3 | €10,633 | €9,778 | -€855 | -8.0% |
| Other amounts payable | 47/48 | €29,407 | €65,418 | +€36,010 | +122% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,423 | €5,738 | -€685 | -10.7% |
| Other operating charges | 640/8 | €326 | €487 | +€161 | +49.4% |
| Gross operating margin | 9900 | €26,253 | €14,070 | -€12,183 | -46.4% |
| Operating profit (loss) | 9901 | €19,504 | €7,845 | -€11,660 | -59.8% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,564 | €3,741 | +€1,177 | +45.9% |
| Recurring financial charges | 65 | €2,564 | €3,741 | +€1,177 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | €16,941 | €4,104 | -€12,836 | -75.8% |
| Income taxes | 67/77 | €9,210 | €2,573 | -€6,637 | -72.1% |
| Profit (loss) for the period | 9904 | €7,731 | €1,531 | -€6,199 | -80.2% |
| Transfer from tax-exempt reserves | 789 | €11,877 | - | -€11,877 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,607 | €1,531 | -€18,076 | -92.2% |
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.