SemLou: what changed
Two fiscal 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.
SemLou
Largest movements
- Cash +€43,021
up €43,021 (+45.9%), from €93,677 to €136,698
mainly Net result for the year (+€66,873) and Other debts (+€42,215)
- Stocks and contracts +€32,686
up €32,686 (+22.0%), from €148,612 to €181,298
- Receivables within one year -€13,120
down €13,120 (-96.5%), from €13,589 to €469
of which Other amounts receivable: -€11,647
- Other debts +€42,215
up €42,215 (+1326.7%), from €3,182 to €45,397
- Debts after one year -€25,007
down €25,007 (-64.8%), from €38,569 to €13,562
- Reserves +€24,873
up €24,873 (+60.6%), from €41,026 to €65,899
- Short-term financial debts +€15,000
up €15,000 (+60.0%), from €25,000 to €40,000
- Tax, wage and social debts +€6,360
up €6,360 (+36.7%), from €17,309 to €23,669
of which Remuneration and social security: +€4,487
- Gross operating margin +€74,539
up €74,539 (+81.9%), from €91,040 to €165,578
- Staff costs +€25,792
up €25,792 (+48.5%), from €53,176 to €78,969
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.
Cash bridge derived
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 | €292,195 | €352,960 | +€60,765 | +20.8% |
| Fixed assets | 21/28 | €36,017 | €34,117 | -€1,900 | -5.3% |
| Tangible fixed assets | 22/27 | €30,077 | €28,177 | -€1,900 | -6.3% |
| Plant, machinery and equipment | 23 | €870 | €3,387 | +€2,517 | +289.3% |
| Furniture and vehicles | 24 | €2,970 | €2,459 | -€510 | -17.2% |
| Other tangible fixed assets | 26 | €26,237 | €22,330 | -€3,907 | -14.9% |
| Financial fixed assets | 28 | €5,940 | €5,940 | = | 0.0% |
| Current assets | 29/58 | €256,178 | €318,843 | +€62,665 | +24.5% |
| Stocks and contracts in progress | 3 | €148,612 | €181,298 | +€32,686 | +22.0% |
| Stocks | 30/36 | €148,612 | €181,298 | +€32,686 | +22.0% |
| Amounts receivable within one year | 40/41 | €13,589 | €469 | -€13,120 | -96.5% |
| Trade receivables | 40 | €1,472 | - | -€1,472 | |
| Other amounts receivable | 41 | €12,116 | €469 | -€11,647 | -96.1% |
| Cash at bank and in hand | 54/58 | €93,677 | €136,698 | +€43,021 | +45.9% |
| Deferred charges and accrued income | 490/1 | €301 | €379 | +€78 | +25.9% |
| Total equity and liabilities | 10/49 | €292,195 | €352,960 | +€60,765 | +20.8% |
| Equity | 10/15 | €61,026 | €85,899 | +€24,873 | +40.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €41,026 | €65,899 | +€24,873 | +60.6% |
| Distributable reserves | 133 | €41,026 | €65,899 | +€24,873 | +60.6% |
| Amounts payable | 17/49 | €231,169 | €267,061 | +€35,892 | +15.5% |
| Amounts payable after more than one year | 17 | €38,569 | €13,562 | -€25,007 | -64.8% |
| Financial debts | 170/4 | €38,569 | €13,562 | -€25,007 | -64.8% |
| Amounts payable within one year | 42/48 | €192,600 | €253,499 | +€60,899 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €9,466 | €9,575 | +€110 | +1.2% |
| Financial debts | 43 | €25,000 | €40,000 | +€15,000 | +60.0% |
| Credit institutions | 430/8 | €25,000 | €40,000 | +€15,000 | +60.0% |
| Trade debts | 44 | €137,643 | €134,718 | -€2,925 | -2.1% |
| Suppliers | 440/4 | €137,643 | €134,718 | -€2,925 | -2.1% |
| Advances received on contracts in progress | 46 | - | €139 | +€139 | |
| Taxes, remuneration and social security | 45 | €17,309 | €23,669 | +€6,360 | +36.7% |
| Taxes | 450/3 | €4,480 | €6,353 | +€1,873 | +41.8% |
| Remuneration and social security | 454/9 | €12,829 | €17,316 | +€4,487 | +35.0% |
| Other amounts payable | 47/48 | €3,182 | €45,397 | +€42,215 | +1326.7% |
| Remuneration, social security and pensions | 62 | €53,176 | €78,969 | +€25,792 | +48.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,283 | €7,412 | +€1,129 | +18.0% |
| Other operating charges | 640/8 | €118 | €358 | +€240 | +203.4% |
| Gross operating margin | 9900 | €91,040 | €165,578 | +€74,539 | +81.9% |
| Operating profit (loss) | 9901 | €31,462 | €78,839 | +€47,377 | +150.6% |
| Financial income | 75/76B | €224 | €783 | +€558 | +249.0% |
| Recurring financial income | 75 | €224 | €783 | +€558 | +249.0% |
| Financial charges | 65/66B | €5,962 | €5,806 | -€156 | -2.6% |
| Recurring financial charges | 65 | €5,962 | €5,806 | -€156 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €25,724 | €73,816 | +€48,092 | +187.0% |
| Income taxes | 67/77 | €7,064 | €6,943 | -€121 | -1.7% |
| Profit (loss) for the period | 9904 | €18,660 | €66,873 | +€48,213 | +258.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,660 | €66,873 | +€48,213 | +258.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.