TOM SEM: 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.
TOM SEM
Largest movements
- Cash +€11,967
up €11,967 (+184.9%), from €6,471 to €18,439
mainly Depreciation (+€10,584) and Net result for the year (+€6,341)
- Tangible fixed assets -€5,833
down €5,833 (-3.2%), from €181,820 to €175,987
of which Assets under construction and advance payments: -€3,100
- Reserves +€6,341
up €6,341 (+10.1%), from €62,548 to €68,889
- Gross operating margin +€12,569
up €12,569 (+161.0%), from €7,809 to €20,379
- Depreciation +€1,151
up €1,151 (+12.2%), from €9,432 to €10,584
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 | €189,872 | €196,013 | +€6,141 | +3.2% |
| Fixed assets | 21/28 | €181,820 | €175,987 | -€5,833 | -3.2% |
| Tangible fixed assets | 22/27 | €181,820 | €175,987 | -€5,833 | -3.2% |
| Land and buildings | 22 | €178,720 | €175,987 | -€2,733 | -1.5% |
| Assets under construction and advance payments | 27 | €3,100 | €0 | -€3,100 | -100.0% |
| Current assets | 29/58 | €8,052 | €20,027 | +€11,975 | +148.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,471 | €18,439 | +€11,967 | +184.9% |
| Deferred charges and accrued income | 490/1 | €1,581 | €1,588 | +€7 | +0.5% |
| Total equity and liabilities | 10/49 | €189,872 | €196,013 | +€6,141 | +3.2% |
| Equity | 10/15 | €74,948 | €81,289 | +€6,341 | +8.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €62,548 | €68,889 | +€6,341 | +10.1% |
| Distributable reserves | 133 | €62,548 | €68,889 | +€6,341 | +10.1% |
| Amounts payable | 17/49 | €114,924 | €114,724 | -€200 | -0.2% |
| Amounts payable within one year | 42/48 | €114,924 | €114,409 | -€515 | -0.4% |
| Trade debts | 44 | €382 | €467 | +€85 | +22.3% |
| Suppliers | 440/4 | €382 | €467 | +€85 | +22.3% |
| Other amounts payable | 47/48 | €114,542 | €113,943 | -€600 | -0.5% |
| Accrued charges and deferred income | 492/3 | €0 | €315 | +€315 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,432 | €10,584 | +€1,151 | +12.2% |
| Other operating charges | 640/8 | €3,230 | €3,355 | +€126 | +3.9% |
| Gross operating margin | 9900 | €7,809 | €20,379 | +€12,569 | +161.0% |
| Operating profit (loss) | 9901 | -€4,853 | €6,440 | +€11,292 | |
| Financial charges | 65/66B | €115 | €99 | -€16 | -14.0% |
| Recurring financial charges | 65 | €115 | €99 | -€16 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,968 | €6,341 | +€11,309 | |
| Profit (loss) for the period | 9904 | -€4,968 | €6,341 | +€11,309 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,968 | €6,341 | +€11,309 |
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 10 October 2026 via checked.be.