SIMTECH FINANCE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 34 filings
Turnover
≈ €170,000
Estimated: probably between €130,000 and €260,000
EBIT margin
Not included in this filing
Net result
€35,752▲ 8.1%
2024 · €33,071
Working capital
€208,065▲ 1.0%
2024 · €205,936
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€47,298
▲ 8.5%
2025
20182025
Net result
€35,752
▲ 8.1%
2025
middle half of the sector
20182025
Equity
€339,840
▼ 0.1%
2025
middle half of the sector
20182025
Total assets
€383,982
▼ 3.1%
2025
middle half of the sector
20182025
Debt
€44,143
▼ 21.6%
2025
20182025
Working capital
€208,065
▲ 1.0%
2025
middle half of the sector
20182025
Solvency
88.5%
▲ 2.7pp
2025
highest quarter of the sector
20182025
Current ratio
5.72
▲ 1.06
2025
highest quarter of the sector
20182025
Return on assets (ROA)
9.3%
▲ 1.0pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€43,293-€47,810▲ 10.4%€51,256▲ 7.2%€49,464▼ 3.5%€49,337▼ 0.3%€52,365▲ 6.1%€43,610▼ 16.7%€47,298▲ 8.5%
Net result€29,615-€34,631▲ 16.9%€38,278within the sector's middle half▲ 10.5%€37,733within the sector's middle half▼ 1.4%€37,775within the sector's middle half▲ 0.1%€39,307within the sector's middle half▲ 4.1%€33,071within the sector's middle half▼ 15.9%€35,752within the sector's middle half▲ 8.1%
Equity€511,092-€445,723▼ 12.8%€446,201within the sector's middle half▲ 0.1%€447,935within the sector's middle half▲ 0.4%€339,710within the sector's middle half▼ 24.2%€343,017within the sector's middle half▲ 1.0%€340,088within the sector's middle half▼ 0.9%€339,840within the sector's middle half▼ 0.1%
Total assets€581,514-€556,446▼ 4.3%€497,508within the sector's middle half▼ 10.6%€493,112within the sector's middle half▼ 0.9%€495,618within the sector's middle half▲ 0.5%€425,695within the sector's middle half▼ 14.1%€396,407within the sector's middle half▼ 6.9%€383,982within the sector's middle half▼ 3.1%
Debt€70,422-€110,723▲ 57.2%€51,307▼ 53.7%€45,178▼ 11.9%€155,908▲ 245%€82,678▼ 47.0%€56,319▼ 31.9%€44,143▼ 21.6%
Working capital€433,686-€368,285▼ 15.1%€355,440within the sector's middle half▼ 3.5%€347,253within the sector's middle half▼ 2.3%€241,641within the sector's middle half▼ 30.4%€247,562within the sector's middle half▲ 2.5%€205,936within the sector's middle half▼ 16.8%€208,065within the sector's middle half▲ 1.0%
Solvency87.9%-80.1%▼ 7.8pp89.7%above the sector's middle half▲ 9.6pp90.8%above the sector's middle half▲ 1.2pp68.5%within the sector's middle half▼ 22.3pp80.6%above the sector's middle half▲ 12.0pp85.8%above the sector's middle half▲ 5.2pp88.5%above the sector's middle half▲ 2.7pp
Current ratio7.16-4.33▼ 2.847.93above the sector's middle half▲ 3.618.69above the sector's middle half▲ 0.762.55within the sector's middle half▼ 6.144.00above the sector's middle half▲ 1.454.66above the sector's middle half▲ 0.665.72above the sector's middle half▲ 1.06
Return on assets (ROA)5.1%-6.2%▲ 1.1pp7.7%within the sector's middle half▲ 1.5pp7.7%within the sector's middle half=7.6%within the sector's middle half=9.2%within the sector's middle half▲ 1.6pp8.3%within the sector's middle half▼ 0.9pp9.3%within the sector's middle half▲ 1.0pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 8% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €383,982
Fixed assets
€131,820 ▼ 1.8%
Current assets
€252,162 ▼ 3.8%
Equity and liabilities €383,982
Equity
€339,840 ▼ 0.1%
Debt
€44,143 ▼ 21.6%
Debt's share of the balance-sheet total falls from 14.2% to 11.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€54,715▲
2024 · €48,690
Cash flow
€43,168▲
2024 · €38,151
Debt to equity
0.13▼
2024 · 0.17
ROE
10.5%▲
2024 · 9.7%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€44,098▼
2024 · €56,274
Income taxes
€11,917▲
2024 · €11,024
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,967 | - | - | €43,784 | €5,040 |
| Depreciation and write-downs of the year | €2,052 | €2,613 | €2,613 | €5,080 | €7,417 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | €797 | €2,052 | €2,613 | €2,613 | €5,080 | €7,417 | ▲ 46.0% |
| Other operating charges640/8 | - | - | - | €11,660 | €11,944 | €13,089 | €21,976 | €15,107 | ▼ 31.3% |
| Gross operating margin9900 | €54,472 | €60,328 | €63,627 | €63,176 | €63,894 | €68,068 | €70,666 | €69,821 | ▼ 1.2% |
| Operating profit (loss)9901 | €43,293 | €47,810 | €51,256 | €49,464 | €49,337 | €52,365 | €43,610 | €47,298 | ▲ 8.5% |
| Financial income75/76B | - | - | - | - | - | €195 | €642 | €551 | ▼ 14.2% |
| Recurring financial income75 | €40 | €0 | - | - | - | €195 | €642 | €551 | ▼ 14.2% |
| Financial charges65/66B | - | - | - | €150 | €151 | €150 | €158 | €180 | ▲ 14.3% |
| Recurring financial charges65 | €150 | €121 | €219 | €150 | €151 | €150 | €158 | €180 | ▲ 14.3% |
| Profit (loss) for the period before taxes9903 | €43,183 | €47,689 | €51,038 | €49,314 | €49,186 | €52,410 | €44,095 | €47,669 | ▲ 8.1% |
| Income taxes67/77 | €13,567 | €13,057 | €12,759 | €11,581 | €11,411 | €13,102 | €11,024 | €11,917 | ▲ 8.1% |
| Profit (loss) for the period9904 | €29,615 | €34,631 | €38,278 | €37,733 | €37,775 | €39,307 | €33,071 | €35,752 | ▲ 8.1% |
| Profit (loss) for the period to be appropriated9905 | €29,615 | €34,631 | €38,278 | €37,733 | €37,775 | €39,307 | €33,071 | €35,752 | ▲ 8.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €581,514 | €556,446 | €497,508 | €493,112 | €495,618 | €425,695 | €396,407 | €383,982 | ▼ 3.1% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €77,438 | €77,438 | €90,804 | €100,719 | €98,106 | €95,493 | €134,197 | €131,820 | ▼ 1.8% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €77,438 | €77,438 | €90,804 | €100,719 | €98,106 | €95,493 | €134,197 | €131,820 | ▼ 1.8% |
| Land and buildings22 | - | - | - | €77,438 | €77,438 | €77,438 | €77,438 | €77,438 | = |
| Plant, machinery and equipment23 | - | - | - | €23,281 | €20,668 | €18,055 | €56,758 | €54,382 | ▼ 4.2% |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €504,076 | €479,008 | €406,704 | €392,393 | €397,512 | €330,202 | €262,210 | €252,162 | ▼ 3.8% |
| Amounts receivable after more than one year29 | - | - | - | €191,218 | €166,047 | €139,916 | €112,788 | €84,626 | ▼ 25.0% |
| Trade receivables290 | - | - | - | €191,218 | €166,047 | €139,916 | €0 | - | - |
| Other amounts receivable291 | - | - | - | - | - | - | €112,788 | €84,626 | ▼ 25.0% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €29,992 | €31,019 | €33,132 | €33,358 | €34,537 | €36,498 | €38,496 | €64,454 | ▲ 67.4% |
| Trade receivables40 | - | - | - | €32,944 | €34,123 | €35,664 | €36,884 | €63,801 | ▲ 73.0% |
| Other amounts receivable41 | - | - | - | €413 | €415 | €834 | €1,613 | €652 | ▼ 59.6% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €212,769 | €209,171 | €158,109 | €167,818 | €196,928 | €153,654 | €110,575 | €102,804 | ▼ 7.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €135 | €350 | €279 | ▼ 20.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €581,514 | €556,446 | €497,508 | €493,112 | €495,618 | €425,695 | €396,407 | €383,982 | ▼ 3.1% |
| Equity10/15 | €511,092 | €445,723 | €446,201 | €447,935 | €339,710 | €343,017 | €340,088 | €339,840 | ▼ 0.1% |
| Contributions10/11 | €45,000 | €45,000 | - | €45,000 | €45,000 | €45,000 | €45,000 | €45,000 | = |
| Reserves13 | €466,092 | €400,723 | €401,201 | €402,935 | €294,710 | €298,017 | €295,088 | €294,840 | ▼ 0.1% |
| Non-distributable reserves130/1 | - | - | - | €4,500 | €4,500 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €4,500 | €4,500 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €398,435 | €290,210 | €298,017 | €295,088 | €294,840 | ▼ 0.1% |
| Profit (loss) carried forward14 | €0 | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €70,422 | €110,723 | €51,307 | €45,178 | €155,908 | €82,678 | €56,319 | €44,143 | ▼ 21.6% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €70,390 | €110,723 | €51,265 | €45,140 | €155,871 | €82,641 | €56,274 | €44,098 | ▼ 21.6% |
| Trade debts44 | €8,835 | €6,564 | €6,547 | €6,946 | €6,961 | €7,014 | €13,650 | €7,484 | ▼ 45.2% |
| Suppliers440/4 | - | - | - | €6,946 | €6,961 | €7,014 | €13,650 | €7,484 | ▼ 45.2% |
| Taxes, remuneration and social security45 | - | - | - | €2,194 | €2,910 | €3,657 | €6,623 | €613 | ▼ 90.7% |
| Taxes450/3 | - | - | - | €2,194 | €2,910 | €3,657 | €6,623 | €613 | ▼ 90.7% |
| Other amounts payable47/48 | - | - | - | €36,000 | €146,000 | €71,969 | €36,000 | €36,000 | = |
| Accrued charges and deferred income492/3 | - | - | - | €38 | €38 | €38 | €45 | €45 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,615 | €34,631 | €38,278 | €37,733 | €37,775 | €39,307 | €33,071 | €35,752 | ▲ 8.1% |
| + Depreciation and write-downs630 | €0 | - | €797 | €2,052 | €2,613 | €2,613 | €5,080 | €7,417 | ▲ 46.0% |
| Operating cash flow (approximation) | €29,615 | €34,631 | €39,075 | €39,786 | €40,388 | €41,920 | €38,151 | €43,168 | ▲ 13.2% |
| Investment in fixed assets (approximation) | - | €0 | -€14,163 | -€11,967 | €0 | €0 | -€43,784 | -€5,040 | ▲ 88.5% |
| Change in cash | - | -€3,598 | -€51,061 | €9,709 | €29,110 | -€43,274 | -€43,079 | -€7,771 | ▲ 82.0% |
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, 31,368 companies had the same profile as SIMTECH FINANCE has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SIMTECH FINANCE itself: < 0.1% 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 31,368 companies, not a prediction for SIMTECH FINANCE. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-07-2026 | 2026-00299264 | |
| 31-12-2024 | full format | 20-05-2025 | 2025-00098710 | |
| 31-12-2023 | full format | 22-05-2024 | 2024-00092095 | |
| 31-12-2022 | full format | 22-05-2023 | 2023-00091570 | |
| 31-12-2021 | full format | 16-06-2022 | 2022-20079730 | |
| 31-12-2020 | full format | 29-06-2021 | 2021-27200347 | |
| 31-12-2019 | micro format | 06-07-2020 | 2020-27300042 | |
| 31-12-2018 | full format | 06-06-2019 | 2019-16600250 | |
| 31-12-2017 | full format | 22-05-2018 | 2018-13300433 | |
| 31-12-2016 | full format | 26-06-2017 | 2017-21700479 |