SEMKON: 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.
SEMKON
Largest movements
- Receivables within one year -€52,453
down €52,453 (-87.2%), from €60,178 to €7,725
of which Trade receivables: -€58,441
- Cash +€22,430
up €22,430 (+28.9%), from €77,528 to €99,959
mainly Other debts (+€88,500) and Receivables within one year (+€52,453)
- Other debts +€88,500
up €88,500 (+3,123%), from €2,834 to €91,333
- Reserves -€61,138
down €61,138 (-98.3%), from €62,187 to €1,049
- Trade debts -€53,990
down €53,990 (-98.8%), from €54,671 to €681
- Tax, wage and social debts -€2,398
no longer reported in 2025 (was €2,398)
- Gross operating margin +€7,083
up €7,083 (+19.4%), from €36,509 to €43,592
- Taxes +€1,939
up €1,939 (+20.5%), from €9,437 to €11,376
- Depreciation -€1,243
down €1,243 (-43.0%), from €2,888 to €1,645
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 | €142,090 | €113,064 | -€29,027 | -20.4% |
| Fixed assets | 21/28 | €2,950 | €3,991 | +€1,041 | +35.3% |
| Tangible fixed assets | 22/27 | €2,950 | €3,991 | +€1,041 | +35.3% |
| Plant, machinery and equipment | 23 | €825 | €470 | -€355 | -43.1% |
| Furniture and vehicles | 24 | €2,125 | €3,521 | +€1,396 | +65.7% |
| Current assets | 29/58 | €139,140 | €109,072 | -€30,068 | -21.6% |
| Amounts receivable within one year | 40/41 | €60,178 | €7,725 | -€52,453 | -87.2% |
| Trade receivables | 40 | €58,931 | €490 | -€58,441 | -99.2% |
| Other amounts receivable | 41 | €1,247 | €7,235 | +€5,988 | +480% |
| Cash at bank and in hand | 54/58 | €77,528 | €99,959 | +€22,430 | +28.9% |
| Deferred charges and accrued income | 490/1 | €1,434 | €1,389 | -€46 | -3.2% |
| Total equity and liabilities | 10/49 | €142,090 | €113,064 | -€29,027 | -20.4% |
| Equity | 10/15 | €82,187 | €21,049 | -€61,138 | -74.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €62,187 | €1,049 | -€61,138 | -98.3% |
| Distributable reserves | 133 | €62,187 | €1,049 | -€61,138 | -98.3% |
| Amounts payable | 17/49 | €59,903 | €92,014 | +€32,112 | +53.6% |
| Amounts payable within one year | 42/48 | €59,903 | €92,014 | +€32,112 | +53.6% |
| Trade debts | 44 | €54,671 | €681 | -€53,990 | -98.8% |
| Suppliers | 440/4 | €54,671 | €681 | -€53,990 | -98.8% |
| Taxes, remuneration and social security | 45 | €2,398 | - | -€2,398 | |
| Taxes | 450/3 | €2,398 | - | -€2,398 | |
| Other amounts payable | 47/48 | €2,834 | €91,333 | +€88,500 | +3,123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,888 | €1,645 | -€1,243 | -43.0% |
| Other operating charges | 640/8 | €1,211 | €1,495 | +€284 | +23.5% |
| Gross operating margin | 9900 | €36,509 | €43,592 | +€7,083 | +19.4% |
| Operating profit (loss) | 9901 | €32,411 | €40,452 | +€8,041 | +24.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -83.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -83.3% |
| Financial charges | 65/66B | €251 | €214 | -€37 | -14.6% |
| Recurring financial charges | 65 | €251 | €214 | -€37 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €32,160 | €40,238 | +€8,078 | +25.1% |
| Income taxes | 67/77 | €9,437 | €11,376 | +€1,939 | +20.5% |
| Profit (loss) for the period | 9904 | €22,723 | €28,862 | +€6,139 | +27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,723 | €28,862 | +€6,139 | +27.0% |
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 14 October 2026 via checked.be.