SEMAILLES: 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.
SEMAILLES
Largest movements
- Cash -€102,796
down €102,796 (-44.0%), from €233,447 to €130,652
mainly Contributions, distributions and other (-€101,372) and Other debts (-€76,100)
- Stocks and contracts -€43,210
down €43,210 (-22.9%), from €188,959 to €145,749
- Receivables within one year +€26,618
up €26,618 (+18.8%), from €141,722 to €168,340
of which Trade receivables: +€32,801
- Receivables after one year +€14,690
up €14,690 (+8.2%), from €179,100 to €193,790
- Tangible fixed assets +€11,311
up €11,311 (+15.2%), from €74,348 to €85,659
of which Leasing and similar rights: +€28,630
- Profit (loss) carried forward -€85,562
down €85,562 (-16.8%), from €510,358 to €424,796
- Other debts -€76,100
down €76,100 (-43.2%), from €176,100 to €100,000
- Debts after one year +€43,583
up €43,583 (+1041.1%), from €4,186 to €47,769
- Trade debts +€40,012
up €40,012 (+65.2%), from €61,369 to €101,381
- Tax, wage and social debts -€19,821
down €19,821 (-46.8%), from €42,391 to €22,570
of which Remuneration and social security: -€15,925
- Depreciation -€34,886
down €34,886 (-61.8%), from €56,422 to €21,536
- Staff costs +€24,190
up €24,190 (+10.4%), from €232,604 to €256,793
- Gross operating margin -€21,757
down €21,757 (-6.5%), from €337,290 to €315,533
- Taxes -€4,362
down €4,362 (-32.5%), from €13,413 to €9,052
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 | €836,846 | €739,158 | -€97,688 | -11.7% |
| Fixed assets | 21/28 | €83,148 | €87,183 | +€4,034 | +4.9% |
| Intangible fixed assets | 21 | €8,195 | €918 | -€7,276 | -88.8% |
| Tangible fixed assets | 22/27 | €74,348 | €85,659 | +€11,311 | +15.2% |
| Land and buildings | 22 | €45,920 | €0 | -€45,920 | -100.0% |
| Plant, machinery and equipment | 23 | €1,674 | €0 | -€1,674 | -100.0% |
| Furniture and vehicles | 24 | €19,171 | €40,542 | +€21,371 | +111.5% |
| Leasing and similar rights | 25 | €7,583 | €36,212 | +€28,630 | +377.6% |
| Other tangible fixed assets | 26 | €0 | €8,905 | +€8,905 | |
| Financial fixed assets | 28 | €605 | €605 | = | 0.0% |
| Current assets | 29/58 | €753,698 | €651,976 | -€101,723 | -13.5% |
| Amounts receivable after more than one year | 29 | €179,100 | €193,790 | +€14,690 | +8.2% |
| Trade receivables | 290 | €179,100 | €193,790 | +€14,690 | +8.2% |
| Stocks and contracts in progress | 3 | €188,959 | €145,749 | -€43,210 | -22.9% |
| Stocks | 30/36 | €188,959 | €145,749 | -€43,210 | -22.9% |
| Amounts receivable within one year | 40/41 | €141,722 | €168,340 | +€26,618 | +18.8% |
| Trade receivables | 40 | €94,867 | €127,668 | +€32,801 | +34.6% |
| Other amounts receivable | 41 | €46,855 | €40,672 | -€6,183 | -13.2% |
| Cash at bank and in hand | 54/58 | €233,447 | €130,652 | -€102,796 | -44.0% |
| Deferred charges and accrued income | 490/1 | €10,470 | €13,445 | +€2,975 | +28.4% |
| Total equity and liabilities | 10/49 | €836,846 | €739,158 | -€97,688 | -11.7% |
| Equity | 10/15 | €538,109 | €451,175 | -€86,934 | -16.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €510,358 | €424,796 | -€85,562 | -16.8% |
| Investment grants | 15 | €13,492 | €12,119 | -€1,372 | -10.2% |
| Provisions and deferred taxes | 16 | €4,497 | €4,040 | -€457 | -10.2% |
| Deferred taxes | 168 | €4,497 | €4,040 | -€457 | -10.2% |
| Amounts payable | 17/49 | €294,240 | €283,943 | -€10,297 | -3.5% |
| Amounts payable after more than one year | 17 | €4,186 | €47,769 | +€43,583 | +1041.1% |
| Financial debts | 170/4 | €4,186 | €47,769 | +€43,583 | +1041.1% |
| Amounts payable within one year | 42/48 | €289,030 | €236,174 | -€52,856 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €9,170 | €12,223 | +€3,053 | +33.3% |
| Trade debts | 44 | €61,369 | €101,381 | +€40,012 | +65.2% |
| Suppliers | 440/4 | €61,369 | €101,381 | +€40,012 | +65.2% |
| Taxes, remuneration and social security | 45 | €42,391 | €22,570 | -€19,821 | -46.8% |
| Taxes | 450/3 | €15,759 | €11,863 | -€3,896 | -24.7% |
| Remuneration and social security | 454/9 | €26,632 | €10,707 | -€15,925 | -59.8% |
| Other amounts payable | 47/48 | €176,100 | €100,000 | -€76,100 | -43.2% |
| Accrued charges and deferred income | 492/3 | €1,023 | €0 | -€1,023 | -100.0% |
| Non-recurring operating income | 76A | - | €82,405 | +€82,405 | |
| Remuneration, social security and pensions | 62 | €232,604 | €256,793 | +€24,190 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,422 | €21,536 | -€34,886 | -61.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €978 | €0 | -€978 | -100.0% |
| Other operating charges | 640/8 | €3,811 | €2,119 | -€1,692 | -44.4% |
| Non-recurring operating charges | 66A | €57 | €0 | -€57 | -100.0% |
| Gross operating margin | 9900 | €337,290 | €315,533 | -€21,757 | -6.5% |
| Operating profit (loss) | 9901 | €43,420 | €35,085 | -€8,334 | -19.2% |
| Financial income | 75/76B | €5,776 | €3,672 | -€2,104 | -36.4% |
| Recurring financial income | 75 | €5,776 | €3,672 | -€2,104 | -36.4% |
| Financial charges | 65/66B | €16,829 | €15,725 | -€1,104 | -6.6% |
| Recurring financial charges | 65 | €16,829 | €15,725 | -€1,104 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €32,367 | €23,033 | -€9,334 | -28.8% |
| Transfer from deferred taxes | 780 | €27 | €457 | +€431 | +1622.1% |
| Income taxes | 67/77 | €13,413 | €9,052 | -€4,362 | -32.5% |
| Profit (loss) for the period | 9904 | €18,980 | €14,438 | -€4,541 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,980 | €14,438 | -€4,541 | -23.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.