Semois Bidco: 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.
What changed
Semois Bidco
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · -€79,963+€2.2m
Equity
€34.6m
2024 · €32.5m+€2.1m
Cash
€4.0m
2024 · €38,509+€4.0m
Balance sheet total
€39.1m
2024 · €32.9m+€6.1m
Largest movements
Assets
- Cash +€4.0m
up €4.0m (+10,366%), from €38,509 to €4.0m
mainly Other debts (+€4.0m) and Net result for the year (+€2.1m)
- Receivables after one year +€2.5m
new in 2025: €2.5m
Equity and liabilities
- Other debts +€4.0m
up €4.0m (+948%), from €421,147 to €4.4m
- Profit (loss) carried forward +€2.0m
up €2.0m (+35.2%), from €5.7m to €7.7m
Income statement
- Financial income +€2.4m
up €2.4m (+39,049%), from €6,033 to €2.4m
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.
Result 2024
-€79,963
Depreciation
-€46,141
Other operating charges
-€4,119
Other operating items
-€30,213
Financial income
+€2.4m
Financial charges
-€70,625
Taxes
+€8
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.0m
Investment
-€1
Financing
€0
Cash 2024
€38,509
From operations (derived)
+€4.0m
Net result for the year
+€2.1m
Depreciation
+€53,370
Receivables after one year
-€2.5m
Receivables within one year
+€258,683
Smaller working-capital items
-€1,649
Other debts
+€4.0m
Accrued charges and deferred income
+€14,453
Investment (derived)
-€1
Investment in fixed assets (net)
-€1
Cash 2025
€4.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,938,905 | €39,070,659 | +€6.1m | +18.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €32,286,867 | €32,233,498 | -€53,369 | -0.2% |
| Tangible fixed assets | 22/27 | €53,370 | €0 | -€53,370 | -100% |
| Furniture and vehicles | 24 | €53,370 | €0 | -€53,370 | -100% |
| Financial fixed assets | 28 | €32,233,497 | €32,233,498 | +€1 | 0.0% |
| Affiliated companies | 280/1 | €32,233,497 | €32,233,497 | = | 0.0% |
| Participating interests | 280 | €32,233,497 | €32,233,497 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €1 | +€1 | |
| Shares | 284 | - | €1 | +€1 | |
| Current assets | 29/58 | €652,038 | €6,837,161 | +€6.2m | +949% |
| Amounts receivable after more than one year | 29 | - | €2,450,000 | +€2.5m | |
| Other amounts receivable | 291 | - | €2,450,000 | +€2.5m | |
| Amounts receivable within one year | 40/41 | €612,291 | €353,607 | -€258,683 | -42.2% |
| Trade receivables | 40 | €140 | €3,453 | +€3,313 | +2,363% |
| Other amounts receivable | 41 | €612,151 | €350,154 | -€261,997 | -42.8% |
| Cash at bank and in hand | 54/58 | €38,509 | €4,030,203 | +€4.0m | +10,366% |
| Deferred charges and accrued income | 490/1 | €1,239 | €3,350 | +€2,112 | +170% |
| Total equity and liabilities | 10/49 | €32,938,905 | €39,070,659 | +€6.1m | +18.6% |
| Equity | 10/15 | €32,517,327 | €34,642,018 | +€2.1m | +6.5% |
| Contributions | 10/11 | €26,479,672 | €26,479,672 | = | 0.0% |
| Capital | 10 | €26,479,672 | €26,479,672 | = | 0.0% |
| Issued capital | 100 | €26,479,672 | €26,479,672 | = | 0.0% |
| Reserves | 13 | €310,881 | €417,115 | +€106,235 | +34.2% |
| Non-distributable reserves | 130/1 | €310,881 | €417,115 | +€106,235 | +34.2% |
| Legal reserve | 130 | €310,881 | €417,115 | +€106,235 | +34.2% |
| Profit (loss) carried forward | 14 | €5,726,774 | €7,745,230 | +€2.0m | +35.2% |
| Amounts payable | 17/49 | €421,578 | €4,428,641 | +€4.0m | +950% |
| Amounts payable within one year | 42/48 | €421,578 | €4,414,188 | +€4.0m | +947% |
| Trade debts | 44 | €431 | €894 | +€463 | +107% |
| Suppliers | 440/4 | €431 | €894 | +€463 | +107% |
| Other amounts payable | 47/48 | €421,147 | €4,413,294 | +€4.0m | +948% |
| Accrued charges and deferred income | 492/3 | - | €14,453 | +€14,453 | |
| Operating income | 70/76A | €26,977 | €14,661 | -€12,316 | -45.7% |
| Other operating income | 74 | €26,977 | €14,661 | -€12,316 | -45.7% |
| Operating charges | 60/66A | €109,120 | €177,277 | +€68,156 | +62.5% |
| Services and other goods | 61 | €100,703 | €118,600 | +€17,896 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,230 | €53,370 | +€46,141 | +638% |
| Other operating charges | 640/8 | €1,188 | €5,307 | +€4,119 | +347% |
| Operating profit (loss) | 9901 | -€82,143 | -€162,616 | -€80,473 | -98.0% |
| Financial income | 75/76B | €6,033 | €2,361,776 | +€2.4m | +39,049% |
| Recurring financial income | 75 | €6,033 | €2,361,776 | +€2.4m | +39,049% |
| Income from financial fixed assets | 750 | - | €2,242,153 | +€2.2m | |
| Income from current assets | 751 | €3,075 | €119,622 | +€116,547 | +3,791% |
| Other financial income | 752/9 | €2,958 | - | -€2,958 | |
| Financial charges | 65/66B | €3,386 | €74,011 | +€70,625 | +2,086% |
| Recurring financial charges | 65 | €3,386 | €74,011 | +€70,625 | +2,086% |
| Debt charges | 650 | €1,147 | €46,675 | +€45,528 | +3,969% |
| Other financial charges | 652/9 | €2,239 | €27,336 | +€25,097 | +1,121% |
| Profit (loss) for the period before taxes | 9903 | -€79,496 | €2,125,149 | +€2.2m | |
| Income taxes | 67/77 | €466 | €458 | -€8 | -1.8% |
| Taxes | 670/3 | €466 | €458 | -€8 | -1.8% |
| Profit (loss) for the period | 9904 | -€79,963 | €2,124,691 | +€2.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,963 | €2,124,691 | +€2.2m |
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 15 October 2026 via checked.be.