SEMARCA: 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.
SEMARCA
Largest movements
- Cash +€26,032
up €26,032 (+78.1%), from €33,320 to €59,352
mainly Receivables within one year (+€10,234) and Net result for the year (+€9,590)
- Receivables within one year -€10,234
down €10,234 (-9.9%), from €103,698 to €93,464
- Tangible fixed assets -€4,571
down €4,571 (-5.8%), from €78,792 to €74,221
- Reserves +€9,590
up €9,590 (+17.9%), from €53,667 to €63,257
of which Distributable reserves: +€9,111
- Gross operating margin +€2,469
up €2,469 (+17.6%), from €14,026 to €16,494
- Other operating charges -€905
down €905 (-66.8%), from €1,354 to €449
- Taxes +€846
up €846 (+30.8%), from €2,746 to €3,592
- Depreciation +€603
up €603 (+15.2%), from €3,969 to €4,571
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 | €217,422 | €227,036 | +€9,615 | +4.4% |
| Fixed assets | 21/28 | €78,792 | €74,221 | -€4,571 | -5.8% |
| Tangible fixed assets | 22/27 | €78,792 | €74,221 | -€4,571 | -5.8% |
| Land and buildings | 22 | €78,792 | €74,221 | -€4,571 | -5.8% |
| Current assets | 29/58 | €138,630 | €152,816 | +€14,186 | +10.2% |
| Amounts receivable within one year | 40/41 | €103,698 | €93,464 | -€10,234 | -9.9% |
| Other amounts receivable | 41 | €103,698 | €93,464 | -€10,234 | -9.9% |
| Cash at bank and in hand | 54/58 | €33,320 | €59,352 | +€26,032 | +78.1% |
| Deferred charges and accrued income | 490/1 | €1,612 | €0 | -€1,612 | -100.0% |
| Total equity and liabilities | 10/49 | €217,422 | €227,036 | +€9,615 | +4.4% |
| Equity | 10/15 | €213,667 | €223,257 | +€9,590 | +4.5% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Capital | 10 | €160,000 | €160,000 | = | 0.0% |
| Issued capital | 100 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €53,667 | €63,257 | +€9,590 | +17.9% |
| Non-distributable reserves | 130/1 | €2,615 | €3,094 | +€480 | +18.3% |
| Legal reserve | 130 | €2,615 | €3,094 | +€480 | +18.3% |
| Distributable reserves | 133 | €51,052 | €60,162 | +€9,111 | +17.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,755 | €3,780 | +€24 | +0.7% |
| Amounts payable within one year | 42/48 | €3,755 | €3,592 | -€163 | -4.3% |
| Trade debts | 44 | €970 | €0 | -€970 | -100.0% |
| Suppliers | 440/4 | €970 | €0 | -€970 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,786 | €3,592 | +€807 | +29.0% |
| Taxes | 450/3 | €2,786 | €3,592 | +€807 | +29.0% |
| Accrued charges and deferred income | 492/3 | - | €188 | +€188 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,969 | €4,571 | +€603 | +15.2% |
| Other operating charges | 640/8 | €1,354 | €449 | -€905 | -66.8% |
| Gross operating margin | 9900 | €14,026 | €16,494 | +€2,469 | +17.6% |
| Operating profit (loss) | 9901 | €8,703 | €11,474 | +€2,771 | +31.8% |
| Financial income | 75/76B | €1,791 | €1,737 | -€54 | -3.0% |
| Recurring financial income | 75 | €1,791 | €1,737 | -€54 | -3.0% |
| Financial charges | 65/66B | €56 | €29 | -€28 | -49.5% |
| Recurring financial charges | 65 | €56 | €29 | -€28 | -49.5% |
| Profit (loss) for the period before taxes | 9903 | €10,438 | €13,182 | +€2,744 | +26.3% |
| Income taxes | 67/77 | €2,746 | €3,592 | +€846 | +30.8% |
| Profit (loss) for the period | 9904 | €7,691 | €9,590 | +€1,899 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,691 | €9,590 | +€1,899 | +24.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.