SEMSPEED: what changed
Two fiscal 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.
SEMSPEED
Largest movements
- Cash -€54,468
down €54,468 (-46.8%), from €116,305 to €61,838
mainly Investment in fixed assets (net) (-€81,275) and Advances received (-€40,000)
- Tangible fixed assets -€21,867
down €21,867 (-11.8%), from €185,658 to €163,791
of which Furniture and vehicles: -€21,769
- Receivables within one year +€12,115
up €12,115 (+84.4%), from €14,360 to €26,475
of which Trade receivables: +€8,208
- Stocks and contracts -€3,450
no longer reported in 2025 (was €3,450)
- Advances received -€40,000
no longer reported in 2025 (was €40,000)
- Profit (loss) carried forward -€31,941
down €31,941 (-81.0%), from -€39,435 to -€71,376
- Trade debts +€4,333
up €4,333 (+395.4%), from €1,096 to €5,429
- Depreciation -€6,450
down €6,450 (-5.9%), from €109,593 to €103,143
- Gross operating margin +€3,109
up €3,109 (+4.3%), from €72,096 to €75,205
- Other operating charges +€1,921
up €1,921 (+83.2%), from €2,309 to €4,231
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 | €319,774 | €252,103 | -€67,671 | -21.2% |
| Fixed assets | 21/28 | €185,658 | €163,791 | -€21,867 | -11.8% |
| Tangible fixed assets | 22/27 | €185,658 | €163,791 | -€21,867 | -11.8% |
| Plant, machinery and equipment | 23 | €99 | - | -€99 | |
| Furniture and vehicles | 24 | €185,560 | €163,791 | -€21,769 | -11.7% |
| Current assets | 29/58 | €134,116 | €88,312 | -€45,803 | -34.2% |
| Stocks and contracts in progress | 3 | €3,450 | - | -€3,450 | |
| Stocks | 30/36 | €3,450 | - | -€3,450 | |
| Amounts receivable within one year | 40/41 | €14,360 | €26,475 | +€12,115 | +84.4% |
| Trade receivables | 40 | €12,100 | €20,308 | +€8,208 | +67.8% |
| Other amounts receivable | 41 | €2,260 | €6,166 | +€3,906 | +172.8% |
| Cash at bank and in hand | 54/58 | €116,305 | €61,838 | -€54,468 | -46.8% |
| Total equity and liabilities | 10/49 | €319,774 | €252,103 | -€67,671 | -21.2% |
| Equity | 10/15 | €228,008 | €196,068 | -€31,941 | -14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €248,844 | €248,844 | = | 0.0% |
| Distributable reserves | 133 | €248,844 | €248,844 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,435 | -€71,376 | -€31,941 | -81.0% |
| Amounts payable | 17/49 | €91,766 | €56,036 | -€35,730 | -38.9% |
| Amounts payable within one year | 42/48 | €91,766 | €56,036 | -€35,730 | -38.9% |
| Trade debts | 44 | €1,096 | €5,429 | +€4,333 | +395.4% |
| Suppliers | 440/4 | €1,096 | €5,429 | +€4,333 | +395.4% |
| Advances received on contracts in progress | 46 | €40,000 | - | -€40,000 | |
| Taxes, remuneration and social security | 45 | - | €162 | +€162 | |
| Taxes | 450/3 | - | €162 | +€162 | |
| Other amounts payable | 47/48 | €50,670 | €50,445 | -€225 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,593 | €103,143 | -€6,450 | -5.9% |
| Other operating charges | 640/8 | €2,309 | €4,231 | +€1,921 | +83.2% |
| Gross operating margin | 9900 | €72,096 | €75,205 | +€3,109 | +4.3% |
| Operating profit (loss) | 9901 | -€39,806 | -€32,168 | +€7,638 | +19.2% |
| Financial income | 75/76B | €426 | €298 | -€128 | -30.0% |
| Recurring financial income | 75 | €426 | €298 | -€128 | -30.0% |
| Financial charges | 65/66B | €55 | €70 | +€15 | +27.3% |
| Recurring financial charges | 65 | €55 | €70 | +€15 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | -€39,435 | -€31,941 | +€7,495 | +19.0% |
| Profit (loss) for the period | 9904 | -€39,435 | -€31,941 | +€7,495 | +19.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,435 | -€31,941 | +€7,495 | +19.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.