SEMIRA: 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.
SEMIRA
Largest movements
- Receivables within one year -€106,857
down €106,857 (-47.3%), from €226,073 to €119,216
of which Other amounts receivable: -€108,633
- Cash +€22,927
up €22,927 (+2,995%), from €765 to €23,693
mainly Receivables within one year (+€106,857) and Depreciation (+€9,715)
- Tangible fixed assets -€11,257
down €11,257 (-35.8%), from €31,472 to €20,215
of which Furniture and vehicles: -€13,647
- Stocks and contracts +€4,645
up €4,645 (+11.9%), from €38,955 to €43,600
- Profit (loss) carried forward -€56,722
down €56,722 (-41.0%), from €138,412 to €81,690
- Other debts -€33,000
down €33,000 (-41.3%), from €80,000 to €47,000
- Gross operating margin -€27,902
down €27,902 (-29.1%), from €95,737 to €67,836
- Staff costs -€20,476
down €20,476 (-31.5%), from €64,926 to €44,451
- Financial charges -€3,031
down €3,031 (-23.3%), from €13,022 to €9,991
- Depreciation -€1,951
down €1,951 (-16.7%), from €11,666 to €9,715
- Taxes -€1,413
down €1,413 (-51.3%), from €2,753 to €1,340
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 | €301,665 | €211,124 | -€90,541 | -30.0% |
| Fixed assets | 21/28 | €35,872 | €24,615 | -€11,257 | -31.4% |
| Tangible fixed assets | 22/27 | €31,472 | €20,215 | -€11,257 | -35.8% |
| Plant, machinery and equipment | 23 | - | €3,477 | +€3,477 | |
| Furniture and vehicles | 24 | €30,040 | €16,393 | -€13,647 | -45.4% |
| Other tangible fixed assets | 26 | €1,432 | €345 | -€1,087 | -75.9% |
| Financial fixed assets | 28 | €4,400 | €4,400 | = | 0.0% |
| Current assets | 29/58 | €265,793 | €186,509 | -€79,284 | -29.8% |
| Stocks and contracts in progress | 3 | €38,955 | €43,600 | +€4,645 | +11.9% |
| Stocks | 30/36 | €38,955 | €43,600 | +€4,645 | +11.9% |
| Amounts receivable within one year | 40/41 | €226,073 | €119,216 | -€106,857 | -47.3% |
| Trade receivables | 40 | €940 | €2,717 | +€1,777 | +189% |
| Other amounts receivable | 41 | €225,133 | €116,499 | -€108,633 | -48.3% |
| Cash at bank and in hand | 54/58 | €765 | €23,693 | +€22,927 | +2,995% |
| Total equity and liabilities | 10/49 | €301,665 | €211,124 | -€90,541 | -30.0% |
| Equity | 10/15 | €158,872 | €102,150 | -€56,722 | -35.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,412 | €81,690 | -€56,722 | -41.0% |
| Amounts payable | 17/49 | €142,794 | €108,974 | -€33,819 | -23.7% |
| Amounts payable within one year | 42/48 | €142,794 | €108,974 | -€33,819 | -23.7% |
| Trade debts | 44 | €34,115 | €33,085 | -€1,030 | -3.0% |
| Suppliers | 440/4 | €34,115 | €33,085 | -€1,030 | -3.0% |
| Taxes, remuneration and social security | 45 | €28,679 | €28,889 | +€211 | +0.7% |
| Taxes | 450/3 | €18,108 | €12,713 | -€5,395 | -29.8% |
| Remuneration and social security | 454/9 | €10,571 | €16,176 | +€5,605 | +53.0% |
| Other amounts payable | 47/48 | €80,000 | €47,000 | -€33,000 | -41.3% |
| Remuneration, social security and pensions | 62 | €64,926 | €44,451 | -€20,476 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,666 | €9,715 | -€1,951 | -16.7% |
| Other operating charges | 640/8 | €3,719 | €3,766 | +€47 | +1.3% |
| Gross operating margin | 9900 | €95,737 | €67,836 | -€27,902 | -29.1% |
| Operating profit (loss) | 9901 | €15,425 | €9,903 | -€5,522 | -35.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €13,022 | €9,991 | -€3,031 | -23.3% |
| Recurring financial charges | 65 | €13,022 | €9,991 | -€3,031 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €2,403 | -€88 | -€2,491 | |
| Income taxes | 67/77 | €2,753 | €1,340 | -€1,413 | -51.3% |
| Profit (loss) for the period | 9904 | -€350 | -€1,428 | -€1,078 | -308% |
| Profit (loss) for the period to be appropriated | 9905 | -€350 | -€1,428 | -€1,078 | -308% |
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 25 October 2026 via checked.be.