SEMI - TOURS: 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.
SEMI - TOURS
Largest movements
- Cash +€57,475
up €57,475 (+221%), from €26,040 to €83,515
mainly Trade debts (+€51,103) and Depreciation (+€33,058)
- Tangible fixed assets -€33,058
down €33,058 (-59.2%), from €55,824 to €22,766
of which Leasing and similar rights: -€23,400
- Stocks and contracts +€7,500
up €7,500 (+35.7%), from €21,000 to €28,500
- Receivables within one year -€5,111
down €5,111 (-3.2%), from €158,339 to €153,228
of which Other amounts receivable: -€15,284
- Trade debts +€51,103
up €51,103 (+43.2%), from €118,415 to €169,518
- Current portion of long-term debt -€14,752
down €14,752 (-51.3%), from €28,781 to €14,029
- Debts after one year -€10,584
down €10,584 (-15.8%), from €66,885 to €56,300
- Short-term financial debts -€9,924
down €9,924 (-63.8%), from €15,548 to €5,624
- Profit (loss) carried forward +€8,702
up €8,702 (+51.2%), from -€16,983 to -€8,281
- Turnover -€826,927
no longer reported in 2025 (was €826,927)
- Purchases and services -€721,644
no longer reported in 2025 (was €721,644)
- Write-downs -€28,773
down €28,773 (-100%), from €28,773 to €0
- Gross operating margin -€21,401
down €21,401 (-18.2%), from €117,410 to €96,008
- Depreciation +€9,659
up €9,659 (+41.3%), from €23,399 to €33,058
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 | €269,909 | €294,964 | +€25,055 | +9.3% |
| Fixed assets | 21/28 | €55,824 | €22,766 | -€33,058 | -59.2% |
| Tangible fixed assets | 22/27 | €55,824 | €22,766 | -€33,058 | -59.2% |
| Plant, machinery and equipment | 23 | €833 | €470 | -€363 | -43.6% |
| Furniture and vehicles | 24 | €31,591 | €22,296 | -€9,295 | -29.4% |
| Leasing and similar rights | 25 | €23,400 | €0 | -€23,400 | -100% |
| Current assets | 29/58 | €214,085 | €272,198 | +€58,113 | +27.1% |
| Stocks and contracts in progress | 3 | €21,000 | €28,500 | +€7,500 | +35.7% |
| Stocks | 30/36 | €21,000 | €28,500 | +€7,500 | +35.7% |
| Amounts receivable within one year | 40/41 | €158,339 | €153,228 | -€5,111 | -3.2% |
| Trade receivables | 40 | €142,948 | €153,121 | +€10,173 | +7.1% |
| Other amounts receivable | 41 | €15,391 | €108 | -€15,284 | -99.3% |
| Cash at bank and in hand | 54/58 | €26,040 | €83,515 | +€57,475 | +221% |
| Deferred charges and accrued income | 490/1 | €8,706 | €6,955 | -€1,751 | -20.1% |
| Total equity and liabilities | 10/49 | €269,909 | €294,964 | +€25,055 | +9.3% |
| Equity | 10/15 | €33,468 | €40,311 | +€6,843 | +20.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €31,859 | €30,000 | -€1,859 | -5.8% |
| Tax-exempt reserves | 132 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €0 | -€1,859 | -100% |
| Profit (loss) carried forward | 14 | -€16,983 | -€8,281 | +€8,702 | +51.2% |
| Amounts payable | 17/49 | €236,441 | €254,653 | +€18,212 | +7.7% |
| Amounts payable after more than one year | 17 | €66,885 | €56,300 | -€10,584 | -15.8% |
| Financial debts | 170/4 | €66,885 | €56,300 | -€10,584 | -15.8% |
| Amounts payable within one year | 42/48 | €169,556 | €197,580 | +€28,024 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €28,781 | €14,029 | -€14,752 | -51.3% |
| Financial debts | 43 | €15,548 | €5,624 | -€9,924 | -63.8% |
| Credit institutions | 430/8 | €15,548 | €5,624 | -€9,924 | -63.8% |
| Trade debts | 44 | €118,415 | €169,518 | +€51,103 | +43.2% |
| Suppliers | 440/4 | €118,415 | €169,518 | +€51,103 | +43.2% |
| Taxes, remuneration and social security | 45 | €6,812 | €6,786 | -€26 | -0.4% |
| Taxes | 450/3 | €2,543 | €2,606 | +€63 | +2.5% |
| Remuneration and social security | 454/9 | €4,269 | €4,180 | -€89 | -2.1% |
| Other amounts payable | 47/48 | - | €1,623 | +€1,623 | |
| Accrued charges and deferred income | 492/3 | - | €772 | +€772 | |
| Turnover | 70 | €826,927 | - | -€826,927 | |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €721,644 | - | -€721,644 | |
| Remuneration, social security and pensions | 62 | €32,159 | €36,482 | +€4,323 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,399 | €33,058 | +€9,659 | +41.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €28,773 | €0 | -€28,773 | -100% |
| Other operating charges | 640/8 | €3,111 | €10,512 | +€7,400 | +238% |
| Gross operating margin | 9900 | €117,410 | €96,008 | -€21,401 | -18.2% |
| Operating profit (loss) | 9901 | €29,967 | €15,956 | -€14,011 | -46.8% |
| Financial income | 75/76B | €544 | €60 | -€485 | -89.0% |
| Recurring financial income | 75 | €544 | €60 | -€485 | -89.0% |
| Financial charges | 65/66B | €13,676 | €8,949 | -€4,727 | -34.6% |
| Recurring financial charges | 65 | €13,676 | €8,949 | -€4,727 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €16,836 | €7,067 | -€9,769 | -58.0% |
| Income taxes | 67/77 | €263 | €224 | -€38 | -14.6% |
| Profit (loss) for the period | 9904 | €16,573 | €6,843 | -€9,731 | -58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,573 | €6,843 | -€9,731 | -58.7% |
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 17 October 2026 via checked.be.