SEMIH: 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.
SEMIH
Largest movements
- Cash -€12,848
down €12,848 (-18.9%), from €68,053 to €55,205
mainly Investment in fixed assets (net) (-€21,433) and Current portion of long-term debt (-€5,412)
- Tangible fixed assets +€10,331
up €10,331 (+24.9%), from €41,419 to €51,750
of which Other tangible fixed assets: +€16,756
- Receivables within one year -€3,884
down €3,884 (-73.5%), from €5,284 to €1,400
- Current portion of long-term debt -€5,412
down €5,412 (-91.6%), from €5,910 to €498
- Trade debts -€4,683
down €4,683 (-62.6%), from €7,477 to €2,794
- Profit (loss) carried forward +€4,583
up €4,583 (+6.8%), from €67,483 to €72,066
- Tax, wage and social debts +€1,428
up €1,428 (+25.8%), from €5,543 to €6,971
of which Remuneration and social security: +€1,233
- Gross operating margin -€13,373
down €13,373 (-31.4%), from €42,580 to €29,207
- Depreciation -€7,335
down €7,335 (-40.9%), from €17,937 to €10,602
- Taxes -€1,233
down €1,233 (-43.7%), from €2,820 to €1,587
- Other operating charges -€552
down €552 (-30.5%), from €1,813 to €1,261
- Staff costs +€453
up €453 (+3.9%), from €11,729 to €12,182
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 | €130,404 | €124,321 | -€6,083 | -4.7% |
| Fixed assets | 21/28 | €47,737 | €58,568 | +€10,831 | +22.7% |
| Tangible fixed assets | 22/27 | €41,419 | €51,750 | +€10,331 | +24.9% |
| Plant, machinery and equipment | 23 | €34,124 | €28,103 | -€6,021 | -17.6% |
| Furniture and vehicles | 24 | €3,707 | €3,303 | -€404 | -10.9% |
| Other tangible fixed assets | 26 | €3,588 | €20,344 | +€16,756 | +467% |
| Financial fixed assets | 28 | €6,318 | €6,818 | +€500 | +7.9% |
| Current assets | 29/58 | €82,667 | €65,754 | -€16,913 | -20.5% |
| Stocks and contracts in progress | 3 | €2,345 | €2,151 | -€194 | -8.3% |
| Stocks | 30/36 | €2,345 | €2,151 | -€194 | -8.3% |
| Amounts receivable within one year | 40/41 | €5,284 | €1,400 | -€3,884 | -73.5% |
| Trade receivables | 40 | €5,284 | €1,400 | -€3,884 | -73.5% |
| Cash at bank and in hand | 54/58 | €68,053 | €55,205 | -€12,848 | -18.9% |
| Deferred charges and accrued income | 490/1 | €6,985 | €6,998 | +€13 | +0.2% |
| Total equity and liabilities | 10/49 | €130,404 | €124,321 | -€6,083 | -4.7% |
| Equity | 10/15 | €109,956 | €113,548 | +€3,592 | +3.3% |
| Contributions | 10/11 | €18,593 | €18,592 | -€1 | 0.0% |
| Contributions outside capital | 11 | €18,593 | €18,592 | -€1 | 0.0% |
| Other | 1109/19 | €18,593 | €18,592 | -€1 | 0.0% |
| Reserves | 13 | €21,900 | €21,900 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €2,951 | €2,951 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €2,951 | €2,951 | +€0 | 0.0% |
| Distributable reserves | 133 | €18,949 | €18,949 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,483 | €72,066 | +€4,583 | +6.8% |
| Investment grants | 15 | €1,980 | €990 | -€990 | -50.0% |
| Provisions and deferred taxes | 16 | €1,020 | €510 | -€510 | -50.0% |
| Deferred taxes | 168 | €1,020 | €510 | -€510 | -50.0% |
| Amounts payable | 17/49 | €19,428 | €10,264 | -€9,164 | -47.2% |
| Amounts payable after more than one year | 17 | €498 | - | -€498 | |
| Financial debts | 170/4 | €498 | - | -€498 | |
| Amounts payable within one year | 42/48 | €18,930 | €10,264 | -€8,666 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €5,910 | €498 | -€5,412 | -91.6% |
| Trade debts | 44 | €7,477 | €2,794 | -€4,683 | -62.6% |
| Suppliers | 440/4 | €7,477 | €2,794 | -€4,683 | -62.6% |
| Taxes, remuneration and social security | 45 | €5,543 | €6,971 | +€1,428 | +25.8% |
| Taxes | 450/3 | €5,421 | €5,616 | +€195 | +3.6% |
| Remuneration and social security | 454/9 | €122 | €1,355 | +€1,233 | +1,010% |
| Remuneration, social security and pensions | 62 | €11,729 | €12,182 | +€453 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,937 | €10,602 | -€7,335 | -40.9% |
| Other operating charges | 640/8 | €1,813 | €1,261 | -€552 | -30.5% |
| Gross operating margin | 9900 | €42,580 | €29,207 | -€13,373 | -31.4% |
| Operating profit (loss) | 9901 | €11,101 | €5,162 | -€5,939 | -53.5% |
| Financial income | 75/76B | €990 | €991 | +€1 | +0.1% |
| Recurring financial income | 75 | €990 | €991 | +€1 | +0.1% |
| Financial charges | 65/66B | €394 | €494 | +€100 | +25.4% |
| Recurring financial charges | 65 | €394 | €494 | +€100 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €11,697 | €5,660 | -€6,037 | -51.6% |
| Transfer from deferred taxes | 780 | €510 | €510 | -€0 | 0.0% |
| Income taxes | 67/77 | €2,820 | €1,587 | -€1,233 | -43.7% |
| Profit (loss) for the period | 9904 | €9,387 | €4,583 | -€4,804 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,387 | €4,583 | -€4,804 | -51.2% |
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 15 October 2026 via checked.be.