SEMS: 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.
SEMS
Largest movements
- Cash -€11,364
down €11,364 (-27.1%), from €41,882 to €30,518
mainly Net result for the year (-€5,938) and Other debts (-€4,533)
- Receivables within one year -€1,718
down €1,718 (-9.7%), from €17,787 to €16,069
- Profit (loss) carried forward -€5,938
down €5,938 (-23.0%), from €25,810 to €19,871
- Other debts -€4,533
down €4,533 (-21.7%), from €20,928 to €16,395
- Tax, wage and social debts -€2,984
down €2,984 (-38.9%), from €7,674 to €4,690
of which Taxes: -€3,267
- Gross operating margin -€11,082
down €11,082 (-27.8%), from €39,900 to €28,818
- Other operating charges +€2,765
up €2,765 (+188%), from €1,469 to €4,233
- Taxes -€2,761
down €2,761 (-92.8%), from €2,976 to €214
- Staff costs +€2,644
up €2,644 (+9.5%), from €27,708 to €30,352
- Financial income +€463
up €463 (+52.7%), from €878 to €1,341
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 | €131,760 | €118,893 | -€12,868 | -9.8% |
| Fixed assets | 21/28 | €1,300 | €812 | -€487 | -37.5% |
| Tangible fixed assets | 22/27 | €1,300 | €812 | -€487 | -37.5% |
| Furniture and vehicles | 24 | €1,300 | €812 | -€487 | -37.5% |
| Current assets | 29/58 | €130,461 | €118,080 | -€12,380 | -9.5% |
| Amounts receivable after more than one year | 29 | €51,785 | €51,785 | = | 0.0% |
| Other amounts receivable | 291 | €51,785 | €51,785 | = | 0.0% |
| Stocks and contracts in progress | 3 | €16,891 | €16,697 | -€193 | -1.1% |
| Stocks | 30/36 | €16,891 | €16,697 | -€193 | -1.1% |
| Amounts receivable within one year | 40/41 | €17,787 | €16,069 | -€1,718 | -9.7% |
| Other amounts receivable | 41 | €17,787 | €16,069 | -€1,718 | -9.7% |
| Cash at bank and in hand | 54/58 | €41,882 | €30,518 | -€11,364 | -27.1% |
| Deferred charges and accrued income | 490/1 | €2,116 | €3,011 | +€895 | +42.3% |
| Total equity and liabilities | 10/49 | €131,760 | €118,893 | -€12,868 | -9.8% |
| Equity | 10/15 | €95,810 | €89,871 | -€5,938 | -6.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | - | €2,000 | +€2,000 | |
| Distributable reserves | 133 | €48,000 | €48,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,810 | €19,871 | -€5,938 | -23.0% |
| Amounts payable | 17/49 | €35,951 | €29,021 | -€6,929 | -19.3% |
| Amounts payable within one year | 42/48 | €35,951 | €29,021 | -€6,929 | -19.3% |
| Trade debts | 44 | €7,348 | €7,936 | +€588 | +8.0% |
| Suppliers | 440/4 | €7,348 | €7,936 | +€588 | +8.0% |
| Taxes, remuneration and social security | 45 | €7,674 | €4,690 | -€2,984 | -38.9% |
| Taxes | 450/3 | €3,482 | €214 | -€3,267 | -93.8% |
| Remuneration and social security | 454/9 | €4,192 | €4,475 | +€283 | +6.8% |
| Other amounts payable | 47/48 | €20,928 | €16,395 | -€4,533 | -21.7% |
| Remuneration, social security and pensions | 62 | €27,708 | €30,352 | +€2,644 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €881 | €487 | -€394 | -44.7% |
| Other operating charges | 640/8 | €1,469 | €4,233 | +€2,765 | +188% |
| Gross operating margin | 9900 | €39,900 | €28,818 | -€11,082 | -27.8% |
| Operating profit (loss) | 9901 | €9,841 | -€6,254 | -€16,096 | |
| Financial income | 75/76B | €878 | €1,341 | +€463 | +52.7% |
| Recurring financial income | 75 | €878 | €1,341 | +€463 | +52.7% |
| Financial charges | 65/66B | €461 | €810 | +€349 | +75.6% |
| Recurring financial charges | 65 | €461 | €810 | +€349 | +75.6% |
| Profit (loss) for the period before taxes | 9903 | €10,258 | -€5,724 | -€15,982 | |
| Income taxes | 67/77 | €2,976 | €214 | -€2,761 | -92.8% |
| Profit (loss) for the period | 9904 | €7,283 | -€5,938 | -€13,221 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,283 | -€5,938 | -€13,221 |
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 14 October 2026 via checked.be.