IMMO SIMSADIE: 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.
IMMO SIMSADIE
Largest movements
- Tangible fixed assets +€725,754
up €725,754 (+28.6%), from €2.5m to €3.3m
of which Land and buildings: +€658,363
- Stocks and contracts -€568,009
down €568,009 (-20.8%), from €2.7m to €2.2m
- Cash +€462,313
up €462,313 (+249%), from €185,837 to €648,149
mainly Stocks and contracts (+€568,009) and Other debts (+€414,394)
- Other debts +€414,394
up €414,394 (+45.2%), from €917,655 to €1.3m
- Reserves +€278,285
up €278,285 (+22.7%), from €1.2m to €1.5m
of which Distributable reserves: +€278,285
- Gross operating margin +€51,405
up €51,405 (+9.0%), from €571,628 to €623,033
- Write-downs -€48,580
new in 2025: -€48,580
- Taxes +€14,623
up €14,623 (+19.3%), from €75,633 to €90,256
- Depreciation +€9,535
up €9,535 (+9.1%), from €105,286 to €114,821
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 | €5,490,122 | €6,163,637 | +€673,515 | +12.3% |
| Fixed assets | 21/28 | €2,533,472 | €3,259,227 | +€725,754 | +28.6% |
| Tangible fixed assets | 22/27 | €2,533,472 | €3,259,227 | +€725,754 | +28.6% |
| Land and buildings | 22 | €2,533,472 | €3,191,835 | +€658,363 | +26.0% |
| Furniture and vehicles | 24 | - | €67,391 | +€67,391 | |
| Current assets | 29/58 | €2,956,650 | €2,904,411 | -€52,239 | -1.8% |
| Stocks and contracts in progress | 3 | €2,730,088 | €2,162,079 | -€568,009 | -20.8% |
| Stocks | 30/36 | €2,730,088 | €2,162,079 | -€568,009 | -20.8% |
| Amounts receivable within one year | 40/41 | €31,046 | €63,316 | +€32,270 | +104% |
| Trade receivables | 40 | - | €29,658 | +€29,658 | |
| Other amounts receivable | 41 | €31,046 | €33,658 | +€2,612 | +8.4% |
| Current investments | 50/53 | €9,661 | €30,676 | +€21,015 | +218% |
| Cash at bank and in hand | 54/58 | €185,837 | €648,149 | +€462,313 | +249% |
| Deferred charges and accrued income | 490/1 | €19 | €190 | +€172 | +918% |
| Total equity and liabilities | 10/49 | €5,490,122 | €6,163,637 | +€673,515 | +12.3% |
| Equity | 10/15 | €2,226,786 | €2,505,071 | +€278,285 | +12.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €1,226,786 | €1,505,071 | +€278,285 | +22.7% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €1,126,786 | €1,405,071 | +€278,285 | +24.7% |
| Amounts payable | 17/49 | €3,263,336 | €3,658,566 | +€395,230 | +12.1% |
| Amounts payable after more than one year | 17 | €2,201,970 | €2,201,970 | = | 0.0% |
| Financial debts | 170/4 | €2,200,000 | €2,200,000 | = | 0.0% |
| Other amounts payable | 178/9 | €1,970 | €1,970 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,016,366 | €1,456,596 | +€440,230 | +43.3% |
| Trade debts | 44 | €60,000 | €63,147 | +€3,147 | +5.2% |
| Suppliers | 440/4 | €60,000 | €63,147 | +€3,147 | +5.2% |
| Taxes, remuneration and social security | 45 | €38,711 | €61,401 | +€22,690 | +58.6% |
| Taxes | 450/3 | €38,711 | €61,401 | +€22,690 | +58.6% |
| Other amounts payable | 47/48 | €917,655 | €1,332,049 | +€414,394 | +45.2% |
| Accrued charges and deferred income | 492/3 | €45,000 | - | -€45,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,286 | €114,821 | +€9,535 | +9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€48,580 | -€48,580 | |
| Other operating charges | 640/8 | €32,550 | €32,133 | -€417 | -1.3% |
| Gross operating margin | 9900 | €571,628 | €623,033 | +€51,405 | +9.0% |
| Operating profit (loss) | 9901 | €433,792 | €524,660 | +€90,868 | +20.9% |
| Financial income | 75/76B | €1,852 | €70 | -€1,782 | -96.2% |
| Recurring financial income | 75 | €1,852 | €70 | -€1,782 | -96.2% |
| Financial charges | 65/66B | €153,275 | €156,190 | +€2,915 | +1.9% |
| Recurring financial charges | 65 | €153,275 | €156,190 | +€2,915 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €282,370 | €368,541 | +€86,170 | +30.5% |
| Income taxes | 67/77 | €75,633 | €90,256 | +€14,623 | +19.3% |
| Profit (loss) for the period | 9904 | €206,737 | €278,285 | +€71,547 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €206,737 | €278,285 | +€71,547 | +34.6% |
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 23 October 2026 via checked.be.