F. Simonetti: 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.
F. Simonetti
Largest movements
- Cash +€63,618
up €63,618 (+55.6%), from €114,412 to €178,030
mainly Other debts (+€149,604) and Net result for the year (+€130,019)
- Tangible fixed assets -€18,568
down €18,568 (-67.3%), from €27,575 to €9,007
of which Furniture and vehicles: -€15,820
- Deferred charges and accrued income +€16,484
up €16,484 (+1,765%), from €934 to €17,418
- Receivables within one year -€3,551
down €3,551 (-18.3%), from €19,352 to €15,802
of which Trade receivables: -€3,551
- Other debts +€149,604
up €149,604 (+266%), from €56,288 to €205,892
- Profit (loss) carried forward -€124,981
down €124,981 (-80.3%), from €155,548 to €30,567
- Tax, wage and social debts +€31,870
up €31,870 (+385%), from €8,281 to €40,151
of which Taxes: +€31,870
- Trade debts -€7,117
down €7,117 (-91.2%), from €7,802 to €685
- Advances received +€6,220
new in 2025: €6,220
- Gross operating margin -€74,193
down €74,193 (-29.8%), from €249,041 to €174,848
- Taxes -€18,018
down €18,018 (-29.3%), from €61,490 to €43,471
- Financial income +€4,305
up €4,305 (+143%), from €3,009 to €7,314
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.
Derived cash bridge
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 | €248,403 | €303,975 | +€55,572 | +22.4% |
| Fixed assets | 21/28 | €27,825 | €9,008 | -€18,817 | -67.6% |
| Tangible fixed assets | 22/27 | €27,575 | €9,007 | -€18,568 | -67.3% |
| Plant, machinery and equipment | 23 | €5,647 | €3,040 | -€2,606 | -46.2% |
| Furniture and vehicles | 24 | €20,825 | €5,005 | -€15,820 | -76.0% |
| Other tangible fixed assets | 26 | €1,104 | €962 | -€142 | -12.9% |
| Financial fixed assets | 28 | €250 | €1 | -€249 | -99.6% |
| Current assets | 29/58 | €220,577 | €294,966 | +€74,389 | +33.7% |
| Amounts receivable after more than one year | 29 | €43,142 | €40,979 | -€2,163 | -5.0% |
| Other amounts receivable | 291 | €43,142 | €40,979 | -€2,163 | -5.0% |
| Amounts receivable within one year | 40/41 | €19,352 | €15,802 | -€3,551 | -18.3% |
| Trade receivables | 40 | €8,680 | €5,129 | -€3,551 | -40.9% |
| Other amounts receivable | 41 | €10,672 | €10,672 | = | 0.0% |
| Current investments | 50/53 | €42,737 | €42,737 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €114,412 | €178,030 | +€63,618 | +55.6% |
| Deferred charges and accrued income | 490/1 | €934 | €17,418 | +€16,484 | +1,765% |
| Total equity and liabilities | 10/49 | €248,403 | €303,975 | +€55,572 | +22.4% |
| Equity | 10/15 | €176,008 | €51,027 | -€124,981 | -71.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,548 | €30,567 | -€124,981 | -80.3% |
| Amounts payable | 17/49 | €72,395 | €252,947 | +€180,552 | +249% |
| Amounts payable within one year | 42/48 | €72,371 | €252,947 | +€180,576 | +250% |
| Trade debts | 44 | €7,802 | €685 | -€7,117 | -91.2% |
| Suppliers | 440/4 | €7,802 | €685 | -€7,117 | -91.2% |
| Advances received on contracts in progress | 46 | - | €6,220 | +€6,220 | |
| Taxes, remuneration and social security | 45 | €8,281 | €40,151 | +€31,870 | +385% |
| Taxes | 450/3 | €8,281 | €40,151 | +€31,870 | +385% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €56,288 | €205,892 | +€149,604 | +266% |
| Accrued charges and deferred income | 492/3 | €24 | €0 | -€24 | -100% |
| Non-recurring operating income | 76A | - | €4,443 | +€4,443 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,059 | €5,527 | +€468 | +9.2% |
| Other operating charges | 640/8 | €1,100 | €767 | -€333 | -30.3% |
| Non-recurring operating charges | 66A | €3,755 | €0 | -€3,755 | -100% |
| Gross operating margin | 9900 | €249,041 | €174,848 | -€74,193 | -29.8% |
| Operating profit (loss) | 9901 | €239,127 | €168,555 | -€70,573 | -29.5% |
| Financial income | 75/76B | €3,009 | €7,314 | +€4,305 | +143% |
| Recurring financial income | 75 | €3,009 | €7,314 | +€4,305 | +143% |
| Financial charges | 65/66B | €802 | €2,377 | +€1,576 | +197% |
| Recurring financial charges | 65 | €802 | €2,377 | +€1,576 | +197% |
| Profit (loss) for the period before taxes | 9903 | €241,335 | €173,491 | -€67,844 | -28.1% |
| Income taxes | 67/77 | €61,490 | €43,471 | -€18,018 | -29.3% |
| Profit (loss) for the period | 9904 | €179,845 | €130,019 | -€49,826 | -27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €179,845 | €130,019 | -€49,826 | -27.7% |
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 19 October 2026 via checked.be.