SEMTRADE: 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.
SEMTRADE
Largest movements
- Current investments +€500,000
new in 2025: €500,000
- Cash -€340,626
down €340,626 (-62.7%), from €543,460 to €202,834
mainly Current investments (-€500,000) and Contributions, distributions and other (-€342,392)
- Other debts +€291,034
new in 2025: €291,034
- Profit (loss) carried forward -€153,723
no longer reported in 2025 (was €153,723)
- Tax, wage and social debts +€66,706
up €66,706 (+141.5%), from €47,129 to €113,835
- Trade debts -€38,313
down €38,313 (-99.9%), from €38,357 to €44
- Gross operating margin +€61,105
up €61,105 (+32.3%), from €188,976 to €250,081
- Taxes +€18,218
up €18,218 (+38.7%), from €47,129 to €65,347
- Financial income -€7,916
down €7,916 (-66.3%), from €11,948 to €4,032
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 | €642,036 | €807,739 | +€165,703 | +25.8% |
| Current assets | 29/58 | €642,036 | €807,739 | +€165,703 | +25.8% |
| Amounts receivable within one year | 40/41 | €98,404 | €104,905 | +€6,501 | +6.6% |
| Trade receivables | 40 | €11 | €40,600 | +€40,589 | +373061.8% |
| Other amounts receivable | 41 | €98,393 | €64,305 | -€34,088 | -34.6% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €543,460 | €202,834 | -€340,626 | -62.7% |
| Deferred charges and accrued income | 490/1 | €173 | - | -€173 | |
| Total equity and liabilities | 10/49 | €642,036 | €807,739 | +€165,703 | +25.8% |
| Equity | 10/15 | €556,550 | €402,827 | -€153,723 | -27.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €392,827 | €392,827 | = | 0.0% |
| Distributable reserves | 133 | €392,827 | €392,827 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153,723 | - | -€153,723 | |
| Amounts payable | 17/49 | €85,486 | €404,912 | +€319,426 | +373.7% |
| Amounts payable within one year | 42/48 | €85,486 | €404,912 | +€319,426 | +373.7% |
| Trade debts | 44 | €38,357 | €44 | -€38,313 | -99.9% |
| Suppliers | 440/4 | €38,357 | €44 | -€38,313 | -99.9% |
| Taxes, remuneration and social security | 45 | €47,129 | €113,835 | +€66,706 | +141.5% |
| Taxes | 450/3 | €47,129 | €113,835 | +€66,706 | +141.5% |
| Other amounts payable | 47/48 | - | €291,034 | +€291,034 | |
| Other operating charges | 640/8 | - | €30 | +€30 | |
| Gross operating margin | 9900 | €188,976 | €250,081 | +€61,105 | +32.3% |
| Operating profit (loss) | 9901 | €188,976 | €250,051 | +€61,075 | +32.3% |
| Financial income | 75/76B | €11,948 | €4,032 | -€7,916 | -66.3% |
| Recurring financial income | 75 | €11,948 | €4,032 | -€7,916 | -66.3% |
| Financial charges | 65/66B | €71 | €67 | -€4 | -5.6% |
| Recurring financial charges | 65 | €71 | €67 | -€4 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €200,852 | €254,016 | +€53,164 | +26.5% |
| Income taxes | 67/77 | €47,129 | €65,347 | +€18,218 | +38.7% |
| Profit (loss) for the period | 9904 | €153,723 | €188,669 | +€34,946 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €153,723 | €188,669 | +€34,946 | +22.7% |
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 2 October 2026 via checked.be.