SEMAT HOLDING: 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.
What changed
SEMAT HOLDING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€730,645
2024 · €1.0m-€290,919
Equity
€1.8m
2024 · €1.9m-€119,355
Cash
€5,930
2024 · €2,657+€3,272
Balance sheet total
€2.7m
2024 · €2.8m-€180,999
Largest movements
Assets
- Receivables within one year -€166,431
down €166,431 (-17.9%), from €930,431 to €764,000
of which Other amounts receivable: -€198,563
Equity and liabilities
- Profit (loss) carried forward -€119,355
down €119,355 (-72.1%), from €165,569 to €46,214
- Other debts -€49,789
down €49,789 (-5.5%), from €900,653 to €850,863
Income statement
- Financial income -€305,966
down €305,966 (-29.8%), from €1.0m to €719,669
- Turnover +€9,750
up €9,750 (+5.4%), from €179,250 to €189,000
- Other operating income +€8,280
up €8,280 (+68.2%), from €12,133 to €20,414
- Depreciation -€7,606
down €7,606 (-65.0%), from €11,700 to €4,094
- Services and other goods +€5,652
up €5,652 (+33.7%), from €16,759 to €22,411
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.
Result 2024
€1.0m
Turnover
+€9,750
Other operating income
+€8,280
Services and other goods
-€5,652
Staff costs
-€5,310
Depreciation
+€7,606
Other operating charges
+€526
Financial income
-€305,966
Financial charges
+€75
Taxes
-€229
Result 2025
€730,645
raises the resultlowers the result
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.
From operations
+€851,814
Investment
+€13,440
Financing
-€861,982
Cash 2024
€2,657
From operations (derived)
+€851,814
Net result for the year
+€730,645
Depreciation
+€4,094
Receivables within one year
+€166,431
Smaller working-capital items
+€434
Other debts
-€49,789
Investment (derived)
+€13,440
Investment in fixed assets (net)
+€13,440
Financing
-€861,982
Debts after one year
-€3,199
Current portion of long-term debt
-€8,783
Contributions, distributions and other
-€850,000
Cash 2025
€5,930
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,843,819 | €2,662,820 | -€180,999 | -6.4% |
| Fixed assets | 21/28 | €1,910,425 | €1,892,891 | -€17,534 | -0.9% |
| Tangible fixed assets | 22/27 | €23,950 | €6,416 | -€17,534 | -73.2% |
| Furniture and vehicles | 24 | €23,950 | €6,416 | -€17,534 | -73.2% |
| Financial fixed assets | 28 | €1,886,476 | €1,886,476 | = | 0.0% |
| Affiliated companies | 280/1 | €1,886,476 | €1,886,476 | = | 0.0% |
| Participating interests | 280 | €1,886,476 | €1,886,476 | = | 0.0% |
| Current assets | 29/58 | €933,394 | €769,929 | -€163,464 | -17.5% |
| Amounts receivable within one year | 40/41 | €930,431 | €764,000 | -€166,431 | -17.9% |
| Trade receivables | 40 | €30,283 | €62,415 | +€32,131 | +106% |
| Other amounts receivable | 41 | €900,148 | €701,585 | -€198,563 | -22.1% |
| Cash at bank and in hand | 54/58 | €2,657 | €5,930 | +€3,272 | +123% |
| Deferred charges and accrued income | 490/1 | €305 | - | -€305 | |
| Total equity and liabilities | 10/49 | €2,843,819 | €2,662,820 | -€180,999 | -6.4% |
| Equity | 10/15 | €1,886,831 | €1,767,476 | -€119,355 | -6.3% |
| Contributions | 10/11 | €464,033 | €464,033 | = | 0.0% |
| Capital | 10 | €464,033 | €464,033 | = | 0.0% |
| Issued capital | 100 | €464,033 | €464,033 | = | 0.0% |
| Reserves | 13 | €1,257,229 | €1,257,229 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,257,229 | €1,257,229 | = | 0.0% |
| Legal reserve | 130 | €57,229 | €57,229 | = | 0.0% |
| Other | 1319 | €1,200,000 | €1,200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,569 | €46,214 | -€119,355 | -72.1% |
| Amounts payable | 17/49 | €956,988 | €895,344 | -€61,643 | -6.4% |
| Amounts payable after more than one year | 17 | €3,199 | - | -€3,199 | |
| Financial debts | 170/4 | €3,199 | - | -€3,199 | |
| Credit institutions | 173 | €3,199 | - | -€3,199 | |
| Amounts payable within one year | 42/48 | €953,789 | €895,344 | -€58,445 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €11,982 | €3,199 | -€8,783 | -73.3% |
| Trade debts | 44 | €2,550 | €3,204 | +€654 | +25.6% |
| Suppliers | 440/4 | €2,550 | €3,204 | +€654 | +25.6% |
| Taxes, remuneration and social security | 45 | €38,604 | €38,079 | -€525 | -1.4% |
| Taxes | 450/3 | €18,739 | €15,652 | -€3,087 | -16.5% |
| Remuneration and social security | 454/9 | €19,865 | €22,427 | +€2,561 | +12.9% |
| Other amounts payable | 47/48 | €900,653 | €850,863 | -€49,789 | -5.5% |
| Operating income | 70/76A | €191,383 | €209,414 | +€18,030 | +9.4% |
| Turnover | 70 | €179,250 | €189,000 | +€9,750 | +5.4% |
| Other operating income | 74 | €12,133 | €20,414 | +€8,280 | +68.2% |
| Operating charges | 60/66A | €181,969 | €184,799 | +€2,829 | +1.6% |
| Services and other goods | 61 | €16,759 | €22,411 | +€5,652 | +33.7% |
| Remuneration, social security and pensions | 62 | €151,573 | €156,883 | +€5,310 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,700 | €4,094 | -€7,606 | -65.0% |
| Other operating charges | 640/8 | €1,938 | €1,412 | -€526 | -27.1% |
| Operating profit (loss) | 9901 | €9,414 | €24,615 | +€15,201 | +161% |
| Financial income | 75/76B | €1,025,635 | €719,669 | -€305,966 | -29.8% |
| Recurring financial income | 75 | €1,025,635 | €719,669 | -€305,966 | -29.8% |
| Income from financial fixed assets | 750 | €1,012,650 | €706,180 | -€306,470 | -30.3% |
| Income from current assets | 751 | €12,985 | €13,489 | +€504 | +3.9% |
| Financial charges | 65/66B | €3,252 | €3,177 | -€75 | -2.3% |
| Recurring financial charges | 65 | €3,252 | €3,177 | -€75 | -2.3% |
| Debt charges | 650 | €2,812 | €2,676 | -€135 | -4.8% |
| Other financial charges | 652/9 | €440 | €501 | +€60 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €1,031,798 | €741,108 | -€290,690 | -28.2% |
| Income taxes | 67/77 | €10,234 | €10,463 | +€229 | +2.2% |
| Taxes | 670/3 | €10,234 | €10,463 | +€229 | +2.2% |
| Profit (loss) for the period | 9904 | €1,021,564 | €730,645 | -€290,919 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,021,564 | €730,645 | -€290,919 | -28.5% |
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 19 October 2026 via checked.be.