Semmo: 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.
Semmo
Largest movements
- Financial fixed assets -€6.8m
down €6.8m (-100%), from €6.8m to €0
- Tangible fixed assets +€2.5m
up €2.5m (+1,432%), from €175,644 to €2.7m
of which Land and buildings: +€2.5m
- Current investments +€917,242
new in 2025: €917,242
- Cash +€456,390
up €456,390 (+1,956%), from €23,328 to €479,718
mainly Investment in fixed assets (net) (+€4.2m) and Net result for the year (+€2.1m)
- Receivables after one year +€427,873
new in 2025: €427,873
- Debts after one year -€2.7m
down €2.7m (-90.8%), from €3.0m to €276,166
- Reserves +€1.1m
up €1.1m (+51.5%), from €2.2m to €3.4m
of which Distributable reserves: +€1.1m
- Other debts -€861,270
down €861,270 (-99.4%), from €866,428 to €5,159
- Accrued charges and deferred income -€407,482
down €407,482 (-99.2%), from €410,853 to €3,370
- Tax, wage and social debts +€99,225
up €99,225 (+6,185%), from €1,604 to €100,829
- Financial income +€2.4m
new in 2025: €2.4m
- Depreciation +€138,378
new in 2025: €138,378
- Taxes +€100,000
new in 2025: €100,000
- Gross operating margin +€55,707
up €55,707 (+149%), from €37,477 to €93,184
- Financial charges -€50,365
down €50,365 (-34.2%), from €147,448 to €97,083
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 | €7,585,466 | €4,875,316 | -€2.7m | -35.7% |
| Fixed assets | 21/28 | €7,025,304 | €2,690,083 | -€4.3m | -61.7% |
| Tangible fixed assets | 22/27 | €175,644 | €2,690,083 | +€2.5m | +1,432% |
| Land and buildings | 22 | €175,644 | €2,674,549 | +€2.5m | +1,423% |
| Plant, machinery and equipment | 23 | - | €431 | +€431 | |
| Furniture and vehicles | 24 | - | €15,103 | +€15,103 | |
| Financial fixed assets | 28 | €6,849,660 | €0 | -€6.8m | -100% |
| Current assets | 29/58 | €560,161 | €2,185,233 | +€1.6m | +290% |
| Amounts receivable after more than one year | 29 | - | €427,873 | +€427,873 | |
| Other amounts receivable | 291 | - | €427,873 | +€427,873 | |
| Stocks and contracts in progress | 3 | €497,484 | €306,433 | -€191,051 | -38.4% |
| Stocks | 30/36 | €497,484 | €306,433 | -€191,051 | -38.4% |
| Amounts receivable within one year | 40/41 | €39,125 | €53,967 | +€14,843 | +37.9% |
| Trade receivables | 40 | €39,125 | €2,825 | -€36,300 | -92.8% |
| Other amounts receivable | 41 | - | €51,143 | +€51,143 | |
| Current investments | 50/53 | - | €917,242 | +€917,242 | |
| Cash at bank and in hand | 54/58 | €23,328 | €479,718 | +€456,390 | +1,956% |
| Deferred charges and accrued income | 490/1 | €225 | €0 | -€225 | -100% |
| Total equity and liabilities | 10/49 | €7,585,466 | €4,875,316 | -€2.7m | -35.7% |
| Equity | 10/15 | €3,305,841 | €4,452,384 | +€1.1m | +34.7% |
| Contributions | 10/11 | €1,081,100 | €1,081,100 | = | 0.0% |
| Reserves | 13 | €2,224,741 | €3,371,284 | +€1.1m | +51.5% |
| Non-distributable reserves | 130/1 | €35,309 | €35,309 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35,309 | €35,309 | = | 0.0% |
| Distributable reserves | 133 | €2,189,432 | €3,335,975 | +€1.1m | +52.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,279,625 | €422,932 | -€3.9m | -90.1% |
| Amounts payable after more than one year | 17 | €3,000,000 | €276,166 | -€2.7m | -90.8% |
| Financial debts | 170/4 | €3,000,000 | €276,166 | -€2.7m | -90.8% |
| Amounts payable within one year | 42/48 | €868,772 | €143,396 | -€725,376 | -83.5% |
| Current portion of amounts payable after more than one year | 42 | - | €30,126 | +€30,126 | |
| Trade debts | 44 | €739 | €4,016 | +€3,277 | +443% |
| Suppliers | 440/4 | €739 | €4,016 | +€3,277 | +443% |
| Advances received on contracts in progress | 46 | - | €3,267 | +€3,267 | |
| Taxes, remuneration and social security | 45 | €1,604 | €100,829 | +€99,225 | +6,185% |
| Taxes | 450/3 | €1,604 | €100,829 | +€99,225 | +6,185% |
| Other amounts payable | 47/48 | €866,428 | €5,159 | -€861,270 | -99.4% |
| Accrued charges and deferred income | 492/3 | €410,853 | €3,370 | -€407,482 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €138,378 | +€138,378 | |
| Other operating charges | 640/8 | €991 | €9,818 | +€8,827 | +890% |
| Gross operating margin | 9900 | €37,477 | €93,184 | +€55,707 | +149% |
| Operating profit (loss) | 9901 | €36,486 | -€55,012 | -€91,498 | |
| Financial income | 75/76B | - | €2,357,341 | +€2.4m | |
| Recurring financial income | 75 | - | €2,357,341 | +€2.4m | |
| Financial charges | 65/66B | €147,448 | €97,083 | -€50,365 | -34.2% |
| Recurring financial charges | 65 | €147,448 | €97,083 | -€50,365 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | -€110,962 | €2,205,246 | +€2.3m | |
| Income taxes | 67/77 | - | €100,000 | +€100,000 | |
| Profit (loss) for the period | 9904 | -€110,962 | €2,105,246 | +€2.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€110,962 | €2,105,246 | +€2.2m |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.