SEMAO SRL: 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.
SEMAO SRL
Largest movements
- Cash +€135,591
up €135,591 (+245%), from €55,238 to €190,829
mainly Net result for the year (+€160,117) and Depreciation (+€24,179)
- Receivables within one year +€39,100
up €39,100 (+111%), from €35,350 to €74,450
of which Trade receivables: +€36,300
- Tangible fixed assets -€24,179
down €24,179 (-3.6%), from €666,903 to €642,724
of which Land and buildings: -€23,879
- Reserves +€160,000
up €160,000 (+124%), from €129,400 to €289,400
- Debts after one year -€26,597
down €26,597 (-6.5%), from €406,360 to €379,763
- Tax, wage and social debts +€20,828
up €20,828 (+58.3%), from €35,725 to €56,553
- Gross operating margin +€93,441
up €93,441 (+51.4%), from €181,836 to €275,277
- Taxes +€32,914
up €32,914 (+76.2%), from €43,173 to €76,087
- Financial charges -€4,052
down €4,052 (-20.6%), from €19,647 to €15,595
- Financial income +€2,936
up €2,936 (+672%), from €437 to €3,373
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 | €757,590 | €908,113 | +€150,523 | +19.9% |
| Fixed assets | 21/28 | €666,903 | €642,724 | -€24,179 | -3.6% |
| Tangible fixed assets | 22/27 | €666,903 | €642,724 | -€24,179 | -3.6% |
| Land and buildings | 22 | €666,603 | €642,724 | -€23,879 | -3.6% |
| Furniture and vehicles | 24 | €300 | - | -€300 | |
| Current assets | 29/58 | €90,687 | €265,389 | +€174,702 | +193% |
| Amounts receivable within one year | 40/41 | €35,350 | €74,450 | +€39,100 | +111% |
| Trade receivables | 40 | - | €36,300 | +€36,300 | |
| Other amounts receivable | 41 | €35,350 | €38,150 | +€2,800 | +7.9% |
| Cash at bank and in hand | 54/58 | €55,238 | €190,829 | +€135,591 | +245% |
| Deferred charges and accrued income | 490/1 | €99 | €110 | +€11 | +11.1% |
| Total equity and liabilities | 10/49 | €757,590 | €908,113 | +€150,523 | +19.9% |
| Equity | 10/15 | €136,280 | €296,397 | +€160,117 | +117% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €129,400 | €289,400 | +€160,000 | +124% |
| Distributable reserves | 133 | €129,400 | €289,400 | +€160,000 | +124% |
| Profit (loss) carried forward | 14 | €680 | €797 | +€117 | +17.2% |
| Amounts payable | 17/49 | €621,310 | €611,716 | -€9,594 | -1.5% |
| Amounts payable after more than one year | 17 | €406,360 | €379,763 | -€26,597 | -6.5% |
| Financial debts | 170/4 | €406,360 | €379,763 | -€26,597 | -6.5% |
| Amounts payable within one year | 42/48 | €214,950 | €231,953 | +€17,003 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €26,079 | €26,597 | +€518 | +2.0% |
| Trade debts | 44 | - | €4,311 | +€4,311 | |
| Suppliers | 440/4 | - | €4,311 | +€4,311 | |
| Taxes, remuneration and social security | 45 | €35,725 | €56,553 | +€20,828 | +58.3% |
| Taxes | 450/3 | €35,725 | €56,553 | +€20,828 | +58.3% |
| Other amounts payable | 47/48 | €153,146 | €144,492 | -€8,654 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,253 | €24,179 | -€74 | -0.3% |
| Other operating charges | 640/8 | €5,415 | €2,672 | -€2,743 | -50.7% |
| Gross operating margin | 9900 | €181,836 | €275,277 | +€93,441 | +51.4% |
| Operating profit (loss) | 9901 | €152,168 | €248,426 | +€96,258 | +63.3% |
| Financial income | 75/76B | €437 | €3,373 | +€2,936 | +672% |
| Recurring financial income | 75 | €437 | €3,373 | +€2,936 | +672% |
| Financial charges | 65/66B | €19,647 | €15,595 | -€4,052 | -20.6% |
| Recurring financial charges | 65 | €19,647 | €15,595 | -€4,052 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €132,958 | €236,204 | +€103,246 | +77.7% |
| Income taxes | 67/77 | €43,173 | €76,087 | +€32,914 | +76.2% |
| Profit (loss) for the period | 9904 | €89,785 | €160,117 | +€70,332 | +78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €89,785 | €160,117 | +€70,332 | +78.3% |
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 26 October 2026 via checked.be.