SEMPER L2: 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.
SEMPER L2
Largest movements
- Current investments +€220,000
new in 2025: €220,000
- Cash -€209,586
down €209,586 (-89.5%), from €234,161 to €24,574
mainly Current investments (-€220,000) and Tax, wage and social debts (-€35,786)
- Receivables within one year -€22,046
down €22,046 (-45.0%), from €48,987 to €26,941
of which Trade receivables: -€27,148
- Tangible fixed assets -€12,608
down €12,608 (-15.1%), from €83,745 to €71,137
of which Furniture and vehicles: -€11,952
- Reserves +€42,515
up €42,515 (+20.6%), from €206,811 to €249,326
- Tax, wage and social debts -€35,786
down €35,786 (-40.0%), from €89,399 to €53,613
- Advances received -€23,923
down €23,923 (-58.1%), from €41,140 to €17,217
- Trade debts -€5,789
down €5,789 (-39.1%), from €14,804 to €9,016
- Gross operating margin -€63,612
down €63,612 (-45.8%), from €139,024 to €75,411
- Taxes -€19,940
down €19,940 (-53.4%), from €37,362 to €17,422
- Depreciation +€3,432
up €3,432 (+26.3%), from €13,035 to €16,468
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 | €367,430 | €343,157 | -€24,273 | -6.6% |
| Fixed assets | 21/28 | €83,745 | €71,137 | -€12,608 | -15.1% |
| Tangible fixed assets | 22/27 | €83,745 | €71,137 | -€12,608 | -15.1% |
| Plant, machinery and equipment | 23 | €1,640 | €1,444 | -€196 | -11.9% |
| Furniture and vehicles | 24 | €37,673 | €25,721 | -€11,952 | -31.7% |
| Other tangible fixed assets | 26 | €44,433 | €43,972 | -€461 | -1.0% |
| Current assets | 29/58 | €283,685 | €272,020 | -€11,665 | -4.1% |
| Amounts receivable within one year | 40/41 | €48,987 | €26,941 | -€22,046 | -45.0% |
| Trade receivables | 40 | €48,987 | €21,838 | -€27,148 | -55.4% |
| Other amounts receivable | 41 | - | €5,102 | +€5,102 | |
| Current investments | 50/53 | - | €220,000 | +€220,000 | |
| Cash at bank and in hand | 54/58 | €234,161 | €24,574 | -€209,586 | -89.5% |
| Deferred charges and accrued income | 490/1 | €538 | €505 | -€33 | -6.1% |
| Total equity and liabilities | 10/49 | €367,430 | €343,157 | -€24,273 | -6.6% |
| Equity | 10/15 | €207,811 | €250,326 | +€42,515 | +20.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €206,811 | €249,326 | +€42,515 | +20.6% |
| Distributable reserves | 133 | €206,811 | €249,326 | +€42,515 | +20.6% |
| Amounts payable | 17/49 | €159,619 | €92,831 | -€66,788 | -41.8% |
| Amounts payable within one year | 42/48 | €159,619 | €92,831 | -€66,788 | -41.8% |
| Trade debts | 44 | €14,804 | €9,016 | -€5,789 | -39.1% |
| Suppliers | 440/4 | €14,804 | €9,016 | -€5,789 | -39.1% |
| Advances received on contracts in progress | 46 | €41,140 | €17,217 | -€23,923 | -58.1% |
| Taxes, remuneration and social security | 45 | €89,399 | €53,613 | -€35,786 | -40.0% |
| Taxes | 450/3 | €89,399 | €53,613 | -€35,786 | -40.0% |
| Other amounts payable | 47/48 | €14,276 | €12,985 | -€1,291 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,035 | €16,468 | +€3,432 | +26.3% |
| Other operating charges | 640/8 | €488 | €1,270 | +€782 | +160.2% |
| Gross operating margin | 9900 | €139,024 | €75,411 | -€63,612 | -45.8% |
| Operating profit (loss) | 9901 | €125,500 | €57,674 | -€67,826 | -54.0% |
| Financial income | 75/76B | €2,751 | €2,702 | -€49 | -1.8% |
| Recurring financial income | 75 | €2,751 | €2,702 | -€49 | -1.8% |
| Financial charges | 65/66B | €214 | €439 | +€225 | +105.3% |
| Recurring financial charges | 65 | €214 | €439 | +€225 | +105.3% |
| Profit (loss) for the period before taxes | 9903 | €128,038 | €59,937 | -€68,101 | -53.2% |
| Income taxes | 67/77 | €37,362 | €17,422 | -€19,940 | -53.4% |
| Profit (loss) for the period | 9904 | €90,676 | €42,515 | -€48,161 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €90,676 | €42,515 | -€48,161 | -53.1% |
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 11 October 2026 via checked.be.