SEMMAT: 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.
SEMMAT
Largest movements
- Receivables within one year +€54,252
up €54,252 (+51.7%), from €105,005 to €159,257
of which Trade receivables: +€53,863
- Tangible fixed assets -€24,915
down €24,915 (-31.0%), from €80,249 to €55,334
of which Plant, machinery and equipment: -€23,535
- Trade debts +€14,563
up €14,563 (+188%), from €7,766 to €22,329
- Tax, wage and social debts +€12,049
up €12,049 (+12,611%), from €96 to €12,145
of which Remuneration and social security: +€9,205
- Turnover -€274,659
no longer reported in 2025 (was €274,659)
- Purchases and services -€191,479
no longer reported in 2025 (was €191,479)
- Gross operating margin +€11,613
up €11,613 (+13.4%), from €86,370 to €97,983
- Financial charges +€5,744
up €5,744 (+2,199%), from €261 to €6,005
- Staff costs +€3,648
up €3,648 (+9.1%), from €40,002 to €43,651
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 | €195,241 | €222,418 | +€27,178 | +13.9% |
| Fixed assets | 21/28 | €80,781 | €55,866 | -€24,915 | -30.8% |
| Tangible fixed assets | 22/27 | €80,249 | €55,334 | -€24,915 | -31.0% |
| Plant, machinery and equipment | 23 | €78,064 | €54,529 | -€23,535 | -30.1% |
| Furniture and vehicles | 24 | €2,185 | €805 | -€1,380 | -63.2% |
| Financial fixed assets | 28 | €532 | €532 | = | 0.0% |
| Current assets | 29/58 | €114,459 | €166,552 | +€52,092 | +45.5% |
| Stocks and contracts in progress | 3 | €1,607 | €1,201 | -€406 | -25.3% |
| Stocks | 30/36 | €1,607 | €1,201 | -€406 | -25.3% |
| Amounts receivable within one year | 40/41 | €105,005 | €159,257 | +€54,252 | +51.7% |
| Trade receivables | 40 | €47,085 | €100,948 | +€53,863 | +114% |
| Other amounts receivable | 41 | €57,921 | €58,309 | +€388 | +0.7% |
| Cash at bank and in hand | 54/58 | €7,847 | €6,041 | -€1,806 | -23.0% |
| Deferred charges and accrued income | 490/1 | - | €52 | +€52 | |
| Total equity and liabilities | 10/49 | €195,241 | €222,418 | +€27,178 | +13.9% |
| Equity | 10/15 | €38,136 | €38,271 | +€135 | +0.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,364 | -€23,229 | +€135 | +0.6% |
| Amounts payable | 17/49 | €157,105 | €184,147 | +€27,043 | +17.2% |
| Amounts payable after more than one year | 17 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 178/9 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €154,105 | €181,147 | +€27,043 | +17.5% |
| Trade debts | 44 | €7,766 | €22,329 | +€14,563 | +188% |
| Suppliers | 440/4 | €7,766 | €22,329 | +€14,563 | +188% |
| Taxes, remuneration and social security | 45 | €96 | €12,145 | +€12,049 | +12,611% |
| Taxes | 450/3 | €96 | €2,939 | +€2,844 | +2,977% |
| Remuneration and social security | 454/9 | - | €9,205 | +€9,205 | |
| Other amounts payable | 47/48 | €146,243 | €146,674 | +€431 | +0.3% |
| Turnover | 70 | €274,659 | - | -€274,659 | |
| Non-recurring operating income | 76A | €3,191 | - | -€3,191 | |
| Goods, raw materials, services and sundry goods | 60/61 | €191,479 | - | -€191,479 | |
| Remuneration, social security and pensions | 62 | €40,002 | €43,651 | +€3,648 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,458 | €46,536 | -€922 | -1.9% |
| Other operating charges | 640/8 | €1,060 | €995 | -€64 | -6.1% |
| Gross operating margin | 9900 | €86,370 | €97,983 | +€11,613 | +13.4% |
| Operating profit (loss) | 9901 | -€2,150 | €6,801 | +€8,951 | |
| Financial income | 75/76B | €26 | - | -€26 | |
| Recurring financial income | 75 | €26 | - | -€26 | |
| Non-recurring financial income | 76B | €26 | - | -€26 | |
| Financial charges | 65/66B | €261 | €6,005 | +€5,744 | +2,199% |
| Recurring financial charges | 65 | €261 | €6,005 | +€5,744 | +2,199% |
| Profit (loss) for the period before taxes | 9903 | -€2,385 | €796 | +€3,182 | |
| Income taxes | 67/77 | €72 | €661 | +€589 | +815% |
| Profit (loss) for the period | 9904 | -€2,458 | €135 | +€2,593 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,458 | €135 | +€2,593 |
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 17 October 2026 via checked.be.