SEMETIS: 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.
SEMETIS
Largest movements
- Cash -€2.5m
no longer reported in 2025 (was €2.5m)
mainly Receivables within one year (-€2.2m) and Other debts (-€1.5m)
- Receivables within one year +€2.2m
up €2.2m (+95.0%), from €2.3m to €4.5m
of which Other amounts receivable: +€3.1m
- Other debts -€1.5m
no longer reported in 2025 (was €1.5m)
- Profit (loss) carried forward +€810,457
up €810,457 (+228%), from €355,367 to €1.2m
- Trade debts +€590,614
up €590,614 (+32.3%), from €1.8m to €2.4m
- Accrued charges and deferred income -€319,672
down €319,672 (-71.2%), from €448,994 to €129,322
- Tax, wage and social debts +€142,749
up €142,749 (+21.1%), from €675,030 to €817,779
of which Taxes: +€93,942
- Goods and materials +€1.4m
up €1.4m (+21.7%), from €6.5m to €7.9m
- Turnover +€992,431
up €992,431 (+8.1%), from €12.3m to €13.3m
- Staff costs -€202,836
down €202,836 (-7.4%), from €2.7m to €2.5m
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 | €4,850,503 | €4,574,652 | -€275,851 | -5.7% |
| Fixed assets | 21/28 | €142 | - | -€142 | |
| Tangible fixed assets | 22/27 | €142 | - | -€142 | |
| Furniture and vehicles | 24 | €142 | - | -€142 | |
| Current assets | 29/58 | €4,850,362 | €4,574,652 | -€275,710 | -5.7% |
| Amounts receivable within one year | 40/41 | €2,332,495 | €4,548,296 | +€2.2m | +95.0% |
| Trade receivables | 40 | €2,332,495 | €1,443,333 | -€889,162 | -38.1% |
| Other amounts receivable | 41 | - | €3,104,963 | +€3.1m | |
| Cash at bank and in hand | 54/58 | €2,493,313 | - | -€2.5m | |
| Deferred charges and accrued income | 490/1 | €24,553 | €26,356 | +€1,802 | +7.3% |
| Total equity and liabilities | 10/49 | €4,850,503 | €4,574,652 | -€275,851 | -5.7% |
| Equity | 10/15 | €396,117 | €1,206,573 | +€810,457 | +205% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | - | €20,000 | +€20,000 | |
| Issued capital | 100 | - | €20,000 | +€20,000 | |
| Reserves | 13 | €20,750 | €20,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €355,367 | €1,165,823 | +€810,457 | +228% |
| Amounts payable | 17/49 | €4,454,387 | €3,368,079 | -€1.1m | -24.4% |
| Amounts payable within one year | 42/48 | €4,005,393 | €3,238,756 | -€766,636 | -19.1% |
| Trade debts | 44 | €1,830,363 | €2,420,977 | +€590,614 | +32.3% |
| Suppliers | 440/4 | €1,830,363 | €2,420,977 | +€590,614 | +32.3% |
| Taxes, remuneration and social security | 45 | €675,030 | €817,779 | +€142,749 | +21.1% |
| Taxes | 450/3 | €224,706 | €318,648 | +€93,942 | +41.8% |
| Remuneration and social security | 454/9 | €450,324 | €499,131 | +€48,807 | +10.8% |
| Other amounts payable | 47/48 | €1,500,000 | - | -€1.5m | |
| Accrued charges and deferred income | 492/3 | €448,994 | €129,322 | -€319,672 | -71.2% |
| Operating income | 70/76A | €12,334,107 | €13,336,235 | +€1.0m | +8.1% |
| Turnover | 70 | €12,319,928 | €13,312,359 | +€992,431 | +8.1% |
| Other operating income | 74 | €14,179 | €23,876 | +€9,697 | +68.4% |
| Operating charges | 60/66A | €11,200,653 | €12,487,055 | +€1.3m | +11.5% |
| Goods for resale, raw materials and consumables | 60 | €6,507,675 | €7,918,862 | +€1.4m | +21.7% |
| Purchases | 600/8 | €6,507,675 | €7,918,862 | +€1.4m | +21.7% |
| Services and other goods | 61 | €1,905,430 | €2,034,088 | +€128,658 | +6.8% |
| Remuneration, social security and pensions | 62 | €2,730,528 | €2,527,692 | -€202,836 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,075 | €142 | -€50,933 | -99.7% |
| Other operating charges | 640/8 | €5,946 | €6,271 | +€326 | +5.5% |
| Operating profit (loss) | 9901 | €1,133,454 | €849,180 | -€284,274 | -25.1% |
| Financial income | 75/76B | €270,556 | €274,859 | +€4,303 | +1.6% |
| Recurring financial income | 75 | €270,556 | €274,859 | +€4,303 | +1.6% |
| Income from current assets | 751 | €270,556 | €273,095 | +€2,539 | +0.9% |
| Other financial income | 752/9 | - | €1,764 | +€1,764 | |
| Financial charges | 65/66B | €5,784 | €3,096 | -€2,688 | -46.5% |
| Recurring financial charges | 65 | €5,784 | €3,096 | -€2,688 | -46.5% |
| Debt charges | 650 | €1,035 | €1,043 | +€9 | +0.8% |
| Other financial charges | 652/9 | €4,749 | €2,053 | -€2,696 | -56.8% |
| Profit (loss) for the period before taxes | 9903 | €1,398,227 | €1,120,943 | -€277,284 | -19.8% |
| Income taxes | 67/77 | €377,545 | €310,486 | -€67,059 | -17.8% |
| Taxes | 670/3 | €377,545 | €310,486 | -€67,059 | -17.8% |
| Profit (loss) for the period | 9904 | €1,020,681 | €810,457 | -€210,225 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,020,681 | €810,457 | -€210,225 | -20.6% |
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 18 October 2026 via checked.be.