SIEMHO: 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.
SIEMHO
Largest movements
- Cash +€118,563
up €118,563 (+3166.1%), from €3,745 to €122,307
mainly Debts after one year (+€164,482) and Depreciation (+€121,166)
- Tangible fixed assets +€26,678
up €26,678 (+1.1%), from €2.4m to €2.4m
of which Land and buildings: +€34,355
- Debts after one year +€164,482
up €164,482 (+9.9%), from €1.7m to €1.8m
of which Trade debts: +€237,019
- Other debts +€77,500
up €77,500 (+22.4%), from €345,500 to €423,000
- Advances received -€48,000
no longer reported in 2025 (was €48,000)
- Trade debts -€31,879
down €31,879 (-48.9%), from €65,132 to €33,253
- Gross operating margin +€48,232
up €48,232 (+26.7%), from €180,938 to €229,169
- Financial charges +€33,157
up €33,157 (+66.0%), from €50,236 to €83,394
of which Non-recurring financial charges: +€33,150
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 | €2,397,216 | €2,562,821 | +€165,605 | +6.9% |
| Fixed assets | 21/28 | €2,391,284 | €2,417,962 | +€26,678 | +1.1% |
| Tangible fixed assets | 22/27 | €2,391,034 | €2,417,712 | +€26,678 | +1.1% |
| Land and buildings | 22 | €1,507,996 | €1,542,351 | +€34,355 | +2.3% |
| Plant, machinery and equipment | 23 | €4,454 | €6,205 | +€1,751 | +39.3% |
| Furniture and vehicles | 24 | €98,539 | €102,047 | +€3,508 | +3.6% |
| Other tangible fixed assets | 26 | €780,045 | €767,110 | -€12,935 | -1.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €5,932 | €144,859 | +€138,927 | +2342.1% |
| Amounts receivable within one year | 40/41 | €2,187 | €22,551 | +€20,364 | +931.2% |
| Trade receivables | 40 | - | €16,914 | +€16,914 | |
| Other amounts receivable | 41 | €2,187 | €5,638 | +€3,451 | +157.8% |
| Cash at bank and in hand | 54/58 | €3,745 | €122,307 | +€118,563 | +3166.1% |
| Total equity and liabilities | 10/49 | €2,397,216 | €2,562,821 | +€165,605 | +6.9% |
| Equity | 10/15 | -€61,347 | -€36,773 | +€24,574 | +40.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,347 | -€41,773 | +€24,574 | +37.0% |
| Amounts payable | 17/49 | €2,458,563 | €2,599,595 | +€141,031 | +5.7% |
| Amounts payable after more than one year | 17 | €1,654,842 | €1,819,324 | +€164,482 | +9.9% |
| Financial debts | 170/4 | €1,654,842 | €1,582,305 | -€72,537 | -4.4% |
| Trade debts | 175 | - | €237,019 | +€237,019 | |
| Amounts payable within one year | 42/48 | €803,721 | €780,270 | -€23,451 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €167,327 | €161,017 | -€6,310 | -3.8% |
| Trade debts | 44 | €65,132 | €33,253 | -€31,879 | -48.9% |
| Suppliers | 440/4 | €65,132 | €33,253 | -€31,879 | -48.9% |
| Advances received on contracts in progress | 46 | €48,000 | - | -€48,000 | |
| Taxes, remuneration and social security | 45 | €177,762 | €163,000 | -€14,762 | -8.3% |
| Taxes | 450/3 | €177,762 | €163,000 | -€14,762 | -8.3% |
| Other amounts payable | 47/48 | €345,500 | €423,000 | +€77,500 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,869 | €121,166 | +€297 | +0.2% |
| Other operating charges | 640/8 | €1,326 | €35 | -€1,291 | -97.4% |
| Non-recurring operating charges | 66A | €290 | - | -€290 | |
| Gross operating margin | 9900 | €180,938 | €229,169 | +€48,232 | +26.7% |
| Operating profit (loss) | 9901 | €58,452 | €107,968 | +€49,515 | +84.7% |
| Financial charges | 65/66B | €50,236 | €83,394 | +€33,157 | +66.0% |
| Recurring financial charges | 65 | €50,236 | €50,244 | +€7 | 0.0% |
| Non-recurring financial charges | 66B | - | €33,150 | +€33,150 | |
| Profit (loss) for the period before taxes | 9903 | €8,216 | €24,574 | +€16,358 | +199.1% |
| Profit (loss) for the period | 9904 | €8,216 | €24,574 | +€16,358 | +199.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,216 | €24,574 | +€16,358 | +199.1% |
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 4 October 2026 via checked.be.