SIMATIM
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 33 filings
Turnover
≈ €18,000
Estimated: probably between €8,400 and €44,000
Total assets
€733,151▼ 9.4%
2024 · €809,526
Net result
-€67,792▼ 30.7%
2024 · -€51,871
Working capital
€36,893▼ 17.1%
2024 · €44,527
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€68,426
▼ 30.2%
2025
20192025
Net result
-€67,792
▼ 30.7%
2025
20192025
Equity
€688,162
▼ 9.0%
2025
20192025
Total assets
€733,151
▼ 9.4%
2025
20192025
Debt
€44,989
▼ 16.0%
2025
20192025
Working capital
€36,893
▼ 17.1%
2025
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.1m--€0.08m▲ 14.4%-€0.2m▼ 95.0%-€0.2m▼ 14.7%-€0.2m▲ 10.9%-€0.05m▲ 67.6%-€0.07m▼ 30.2%
Net result-€0.09m--€0.07m▲ 16.7%-€0.1m▼ 107%-€0.2m▼ 17.6%-€0.2m▲ 7.8%-€0.05m▲ 67.7%-€0.07m▼ 30.7%
Equity€1.4m-€1.3m▼ 5.3%€1.1m▼ 11.5%€1.0m▼ 15.2%€0.8m▼ 16.6%€0.8m▼ 6.4%€0.7m▼ 9.0%
Total assets€1.4m-€1.3m▼ 5.3%€1.2m▼ 10.2%€1.0m▼ 11.0%€0.9m▼ 17.7%€0.8m▼ 5.6%€0.7m▼ 9.4%
Debt€0.01m-€0.01m▼ 10.8%€0.03m▲ 119%€0.07m▲ 158%€0.05m▼ 32.7%€0.05m▲ 7.6%€0.04m▼ 16.0%
Working capital€0.5m-€0.4m▼ 4.5%€0.3m▼ 29.3%€0.1m▼ 60.2%€0.03m▼ 72.4%€0.04m▲ 28.3%€0.04m▼ 17.1%
Staff (FTE)1-1=1.5▲ 50.0%2▲ 33.3%1.1▼ 45.0%
The operating result for 2025 is a loss of €68,426, larger than the loss of €52,536 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €733,151
Fixed assets
€651,269 ▼ 8.5%
Current assets
€81,882 ▼ 16.5%
Equity and liabilities €733,151
Equity
€688,162 ▼ 9.0%
Debt
€44,989 ▼ 16.0%
Debt's share of the balance-sheet total falls from 6.6% to 6.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€8,267▼
2024 · €9,158
Cash flow
-€7,634▼
2024 · €9,823
Current ratio
1.82▼
2024 · 1.83
Debt to equity
0.07▼
2024 · 0.07
ROE
-9.9%▼
2024 · -6.9%
ROA
-9.2%▼
2024 · -6.4%
Interest coverage
-285.77▼
2024 · over 100
Debt ≤ 1 year
€44,989▼
2024 · €53,571
Staff costs
€59▲
2024 · -€4,075
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 |
|---|---|---|
| Employees at the balance-sheet date | 2 | - |
| full-time | 2 | - |
| in full-time equivalents | 2 | - |
| Average over the year, in full-time equivalents | 2 | 1.1 |
| On a permanent contract | 2 | - |
| Joined | - | 0 |
| Left | - | 2 |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €91,886 | - | - | - |
| Depreciation and write-downs of the year | €75,401 | €64,157 | €61,694 | €60,159 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €814 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €110,178 | €64,446 | -€4,075 | €59 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,663 | €62,919 | €64,576 | €75,401 | €64,157 | €61,694 | €60,159 | ▼ 2.5% |
| Other operating charges640/8 | - | - | - | €8,351 | €9,418 | €10,251 | €10,618 | ▲ 3.6% |
| Gross operating margin9900 | €11,431 | €26,861 | -€35,693 | €11,710 | -€24,351 | €15,335 | €2,410 | ▼ 84.3% |
| Operating profit (loss)9901 | -€95,178 | -€81,480 | -€158,893 | -€182,219 | -€162,371 | -€52,536 | -€68,426 | ▼ 30.2% |
| Financial income75/76B | - | - | - | €8,373 | €2,355 | €707 | €663 | ▼ 6.3% |
| Recurring financial income75 | €11,477 | €10,933 | €10,906 | €8,373 | €2,355 | €707 | €663 | ▼ 6.3% |
| Financial charges65/66B | - | - | - | €56 | €379 | €42 | €29 | ▼ 31.4% |
| Recurring financial charges65 | €2,250 | €1,060 | €21 | €56 | €379 | €42 | €29 | ▼ 31.4% |
| Profit (loss) for the period before taxes9903 | -€85,951 | -€71,607 | -€148,007 | -€173,903 | -€160,395 | -€51,871 | -€67,792 | ▼ 30.7% |
| Income taxes67/77 | -€6 | €0 | €36 | €148 | €126 | - | - | - |
| Profit (loss) for the period9904 | -€85,945 | -€71,607 | -€148,044 | -€174,050 | -€160,522 | -€51,871 | -€67,792 | ▼ 30.7% |
| Profit (loss) for the period to be appropriated9905 | -€85,945 | -€71,607 | -€148,044 | -€174,050 | -€160,522 | -€51,871 | -€67,792 | ▼ 30.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.4m | €1.3m | €1.2m | €1.0m | €0.9m | €0.8m | €0.7m | ▼ 9.4% |
| Fixed assets21/28 | €0.9m | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | ▼ 8.5% |
| Tangible fixed assets22/27 | €0.9m | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | €0.7m | ▼ 8.5% |
| Land and buildings22 | - | - | - | €0.8m | €0.7m | €0.7m | €0.6m | ▼ 7.4% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.03m | €0.02m | €0.008m | ▼ 52.6% |
| Furniture and vehicles24 | - | - | - | €0.006m | - | - | - | - |
| Current assets29/58 | €0.5m | €0.5m | €0.3m | €0.2m | €0.08m | €0.1m | €0.08m | ▼ 16.5% |
| Amounts receivable after more than one year29 | - | - | - | €0.1m | €0.04m | €0.04m | €0.04m | = |
| Other amounts receivable291 | - | - | - | €0.1m | €0.04m | €0.04m | €0.04m | = |
| Amounts receivable within one year40/41 | €0.03m | €105 | €0.003m | €0.002m | €0.004m | - | - | - |
| Trade receivables40 | - | - | - | €0.002m | €0.004m | - | - | - |
| Other amounts receivable41 | - | - | - | €352 | €0.001m | - | - | - |
| Cash at bank and in hand54/58 | €0.009m | €0.02m | €0.008m | €0.02m | €0.01m | €0.03m | €0.007m | ▼ 74.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.02m | €0.03m | €0.03m | ▲ 20.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.4m | €1.3m | €1.2m | €1.0m | €0.9m | €0.8m | €0.7m | ▼ 9.4% |
| Equity10/15 | €1.4m | €1.3m | €1.1m | €1.0m | €0.8m | €0.8m | €0.7m | ▼ 9.0% |
| Contributions10/11 | €1.6m | - | - | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves not available under the articles1311 | - | - | - | - | - | - | €0.02m | - |
| Other1319 | - | - | - | €0.02m | €0.02m | €0.02m | - | - |
| Tax-exempt reserves132 | - | - | - | €76 | €76 | €76 | €76 | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.3m | -€0.5m | -€0.6m | -€0.8m | -€0.8m | -€0.9m | ▼ 8.0% |
| Amounts payable17/49 | €0.01m | €0.01m | €0.03m | €0.07m | €0.05m | €0.05m | €0.04m | ▼ 16.0% |
| Amounts payable within one year42/48 | €0.01m | €0.008m | €0.03m | €0.07m | €0.05m | €0.05m | €0.04m | ▼ 16.0% |
| Trade debts44 | €0.002m | €235 | €0.01m | €0.05m | €0.002m | €0.006m | €0.008m | ▲ 28.1% |
| Suppliers440/4 | - | - | - | €0.05m | €0.002m | €0.006m | €0.008m | ▲ 28.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.004m | - | - | - |
| Taxes450/3 | - | - | - | €148 | €126 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.004m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.02m | €0.04m | €0.05m | €0.04m | ▼ 21.5% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€85,945 | -€71,607 | -€148,044 | -€174,050 | -€160,522 | -€51,871 | -€67,792 | ▼ 30.7% |
| + Depreciation and write-downs630 | €63,663 | €62,919 | €64,576 | €75,401 | €64,157 | €61,694 | €60,159 | ▼ 2.5% |
| Operating cash flow (approximation) | -€22,282 | -€8,688 | -€83,467 | -€98,650 | -€96,364 | €9,823 | -€7,634 | - |
| Investment in fixed assets (approximation) | - | -€15,463 | -€43,498 | -€91,886 | €6,186 | €0 | €0 | - |
| Change in cash | - | €9,112 | -€10,555 | €16,600 | -€12,231 | €16,806 | -€21,324 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 8,617 companies had the same profile as SIMATIM has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SIMATIM itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,617 companies, not a prediction for SIMATIM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00021463 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00024033 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00022736 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00017666 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03500469 | |
| 30-06-2020 | micro format | 07-12-2020 | 2020-74700450 | |
| 30-06-2019 | micro format | 18-12-2019 | 2019-76400448 | |
| 30-06-2018 | micro format | 19-12-2018 | 2018-74900491 | |
| 30-06-2017 | micro format | 20-12-2017 | 2017-72500593 | |
| 30-06-2016 | abbreviated format | 23-11-2016 | 2016-68300217 |