SEMANU: 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.
SEMANU
Largest movements
- Cash -€7,796
down €7,796 (-23.5%), from €33,111 to €25,315
mainly Net result for the year (-€21,238) and Investment in fixed assets (net) (-€3,838)
- Receivables within one year -€7,382
down €7,382 (-16.9%), from €43,573 to €36,191
of which Trade receivables: -€4,422
- Tangible fixed assets -€3,907
down €3,907 (-24.9%), from €15,711 to €11,805
of which Plant, machinery and equipment: -€2,380
- Profit (loss) carried forward -€21,238
new in 2025: -€21,238
- Tax, wage and social debts +€2,986
up €2,986 (+45.0%), from €6,629 to €9,615
- Gross operating margin -€75,675
down €75,675, from €63,970 to -€11,705
- Taxes -€16,573
no longer reported in 2025 (was €16,573)
- Depreciation -€694
down €694 (-8.2%), from €8,438 to €7,744
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 | €96,074 | €77,412 | -€18,662 | -19.4% |
| Fixed assets | 21/28 | €18,111 | €14,205 | -€3,907 | -21.6% |
| Tangible fixed assets | 22/27 | €15,711 | €11,805 | -€3,907 | -24.9% |
| Plant, machinery and equipment | 23 | €9,540 | €7,160 | -€2,380 | -24.9% |
| Furniture and vehicles | 24 | €6,171 | €4,645 | -€1,526 | -24.7% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €77,963 | €63,207 | -€14,755 | -18.9% |
| Amounts receivable within one year | 40/41 | €43,573 | €36,191 | -€7,382 | -16.9% |
| Trade receivables | 40 | €40,613 | €36,191 | -€4,422 | -10.9% |
| Other amounts receivable | 41 | €2,960 | - | -€2,960 | |
| Cash at bank and in hand | 54/58 | €33,111 | €25,315 | -€7,796 | -23.5% |
| Deferred charges and accrued income | 490/1 | €1,279 | €1,701 | +€422 | +33.0% |
| Total equity and liabilities | 10/49 | €96,074 | €77,412 | -€18,662 | -19.4% |
| Equity | 10/15 | €85,253 | €64,015 | -€21,238 | -24.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €84,253 | €84,253 | = | 0.0% |
| Distributable reserves | 133 | €84,253 | €84,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€21,238 | -€21,238 | |
| Amounts payable | 17/49 | €10,821 | €13,397 | +€2,576 | +23.8% |
| Amounts payable within one year | 42/48 | €10,821 | €13,397 | +€2,576 | +23.8% |
| Trade debts | 44 | €3,430 | €2,772 | -€658 | -19.2% |
| Suppliers | 440/4 | €3,430 | €2,772 | -€658 | -19.2% |
| Taxes, remuneration and social security | 45 | €6,629 | €9,615 | +€2,986 | +45.0% |
| Taxes | 450/3 | €6,629 | €9,615 | +€2,986 | +45.0% |
| Other amounts payable | 47/48 | €762 | €1,010 | +€248 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,438 | €7,744 | -€694 | -8.2% |
| Other operating charges | 640/8 | €390 | €739 | +€349 | +89.4% |
| Gross operating margin | 9900 | €63,970 | -€11,705 | -€75,675 | |
| Operating profit (loss) | 9901 | €55,142 | -€20,188 | -€75,330 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,347 | €1,050 | -€297 | -22.1% |
| Recurring financial charges | 65 | €1,347 | €1,050 | -€297 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €53,795 | -€21,238 | -€75,033 | |
| Income taxes | 67/77 | €16,573 | - | -€16,573 | |
| Profit (loss) for the period | 9904 | €37,222 | -€21,238 | -€58,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,222 | -€21,238 | -€58,460 |
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 10 October 2026 via checked.be.