Semica: 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.
Semica
Largest movements
- Tangible fixed assets -€17,421
down €17,421 (-33.2%), from €52,398 to €34,977
of which Furniture and vehicles: -€17,226
- Cash -€11,813
down €11,813 (-23.9%), from €49,385 to €37,571
mainly Contributions, distributions and other (-€94,198) and Accrued charges and deferred income (-€478)
- Receivables within one year -€5,238
down €5,238 (-16.0%), from €32,685 to €27,448
of which Other amounts receivable: -€7,389
- Reserves -€65,294
down €65,294 (-76.6%), from €85,294 to €20,000
of which Distributable reserves: -€65,294
- Other debts +€26,584
up €26,584 (+133%), from €19,975 to €46,559
- Trade debts +€1,897
up €1,897 (+89.8%), from €2,112 to €4,009
- Tax, wage and social debts +€1,846
up €1,846 (+20.9%), from €8,838 to €10,684
- Gross operating margin -€45,063
down €45,063 (-45.0%), from €100,226 to €55,164
- Taxes -€8,434
down €8,434 (-51.8%), from €16,284 to €7,850
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 | €136,230 | €100,785 | -€35,445 | -26.0% |
| Fixed assets | 21/28 | €52,398 | €34,977 | -€17,421 | -33.2% |
| Tangible fixed assets | 22/27 | €52,398 | €34,977 | -€17,421 | -33.2% |
| Furniture and vehicles | 24 | €49,824 | €32,598 | -€17,226 | -34.6% |
| Other tangible fixed assets | 26 | €2,573 | €2,379 | -€194 | -7.5% |
| Current assets | 29/58 | €83,832 | €65,808 | -€18,024 | -21.5% |
| Amounts receivable within one year | 40/41 | €32,685 | €27,448 | -€5,238 | -16.0% |
| Trade receivables | 40 | €16,086 | €18,237 | +€2,151 | +13.4% |
| Other amounts receivable | 41 | €16,599 | €9,210 | -€7,389 | -44.5% |
| Cash at bank and in hand | 54/58 | €49,385 | €37,571 | -€11,813 | -23.9% |
| Deferred charges and accrued income | 490/1 | €1,762 | €788 | -€974 | -55.3% |
| Total equity and liabilities | 10/49 | €136,230 | €100,785 | -€35,445 | -26.0% |
| Equity | 10/15 | €103,894 | €38,600 | -€65,294 | -62.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,294 | €20,000 | -€65,294 | -76.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €85,294 | €20,000 | -€65,294 | -76.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,336 | €62,185 | +€29,849 | +92.3% |
| Amounts payable within one year | 42/48 | €30,925 | €61,252 | +€30,327 | +98.1% |
| Trade debts | 44 | €2,112 | €4,009 | +€1,897 | +89.8% |
| Suppliers | 440/4 | €2,112 | €4,009 | +€1,897 | +89.8% |
| Taxes, remuneration and social security | 45 | €8,838 | €10,684 | +€1,846 | +20.9% |
| Taxes | 450/3 | €8,838 | €10,684 | +€1,846 | +20.9% |
| Other amounts payable | 47/48 | €19,975 | €46,559 | +€26,584 | +133% |
| Accrued charges and deferred income | 492/3 | €1,411 | €932 | -€478 | -33.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,512 | €17,421 | -€91 | -0.5% |
| Other operating charges | 640/8 | €0 | - | = | |
| Non-recurring operating charges | 66A | €1,175 | €0 | -€1,175 | -100% |
| Gross operating margin | 9900 | €100,226 | €55,164 | -€45,063 | -45.0% |
| Operating profit (loss) | 9901 | €81,539 | €37,743 | -€43,796 | -53.7% |
| Financial income | 75/76B | €272 | €403 | +€130 | +47.9% |
| Recurring financial income | 75 | €272 | €403 | +€130 | +47.9% |
| Financial charges | 65/66B | €2,094 | €1,391 | -€703 | -33.6% |
| Recurring financial charges | 65 | €2,094 | €1,391 | -€703 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €79,718 | €36,754 | -€42,963 | -53.9% |
| Income taxes | 67/77 | €16,284 | €7,850 | -€8,434 | -51.8% |
| Profit (loss) for the period | 9904 | €63,434 | €28,904 | -€34,529 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,434 | €28,904 | -€34,529 | -54.4% |
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.