MICHEL SIMONS: what changed
Two fiscal 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.
MICHEL SIMONS
Largest movements
- Cash +€12,366
up €12,366 (+60.3%), from €20,513 to €32,879
mainly Net result for the year (+€8,804) and Tax, wage and social debts (+€3,652)
- Reserves +€8,804
up €8,804 (+31.7%), from €27,743 to €36,547
- Tax, wage and social debts +€3,652
up €3,652 (+73.5%), from €4,968 to €8,620
of which Remuneration and social security: +€4,384
- Other debts -€945
down €945 (-68.8%), from €1,372 to €427
- Advances received +€501
new in 2025: €501
- Depreciation +€2,690
up €2,690 (+946.5%), from €284 to €2,974
- Financial income +€998
up €998 (+235.1%), from €425 to €1,422
of which Non-recurring financial income: +€1,175
- Taxes -€464
down €464 (-9.2%), from €5,029 to €4,565
- Gross operating margin -€430
down €430 (-2.6%), from €16,283 to €15,853
- Other operating charges -€170
down €170 (-16.9%), from €1,006 to €836
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 | €34,575 | €46,418 | +€11,843 | +34.3% |
| Fixed assets | 21/28 | €64 | €0 | -€64 | -100.0% |
| Tangible fixed assets | 22/27 | €64 | €0 | -€64 | -100.0% |
| Furniture and vehicles | 24 | €64 | €0 | -€64 | -100.0% |
| Current assets | 29/58 | €34,511 | €46,418 | +€11,907 | +34.5% |
| Amounts receivable within one year | 40/41 | €13,565 | €13,538 | -€27 | -0.2% |
| Trade receivables | 40 | €11,961 | €11,748 | -€213 | -1.8% |
| Other amounts receivable | 41 | €1,604 | €1,791 | +€187 | +11.6% |
| Cash at bank and in hand | 54/58 | €20,513 | €32,879 | +€12,366 | +60.3% |
| Deferred charges and accrued income | 490/1 | €432 | - | -€432 | |
| Total equity and liabilities | 10/49 | €34,575 | €46,418 | +€11,843 | +34.3% |
| Equity | 10/15 | €27,743 | €36,547 | +€8,804 | +31.7% |
| Reserves | 13 | €27,743 | €36,547 | +€8,804 | +31.7% |
| Distributable reserves | 133 | €27,743 | €36,547 | +€8,804 | +31.7% |
| Amounts payable | 17/49 | €6,832 | €9,871 | +€3,039 | +44.5% |
| Amounts payable within one year | 42/48 | €6,423 | €9,549 | +€3,126 | +48.7% |
| Trade debts | 44 | €83 | - | -€83 | |
| Suppliers | 440/4 | €83 | - | -€83 | |
| Advances received on contracts in progress | 46 | - | €501 | +€501 | |
| Taxes, remuneration and social security | 45 | €4,968 | €8,620 | +€3,652 | +73.5% |
| Taxes | 450/3 | €4,968 | €4,237 | -€731 | -14.7% |
| Remuneration and social security | 454/9 | - | €4,384 | +€4,384 | |
| Other amounts payable | 47/48 | €1,372 | €427 | -€945 | -68.8% |
| Accrued charges and deferred income | 492/3 | €409 | €322 | -€87 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €284 | €2,974 | +€2,690 | +946.5% |
| Other operating charges | 640/8 | €1,006 | €836 | -€170 | -16.9% |
| Gross operating margin | 9900 | €16,283 | €15,853 | -€430 | -2.6% |
| Operating profit (loss) | 9901 | €14,993 | €12,043 | -€2,950 | -19.7% |
| Financial income | 75/76B | €425 | €1,422 | +€998 | +235.1% |
| Recurring financial income | 75 | €425 | €247 | -€177 | -41.8% |
| Non-recurring financial income | 76B | - | €1,175 | +€1,175 | |
| Financial charges | 65/66B | €80 | €97 | +€16 | +20.5% |
| Recurring financial charges | 65 | €80 | €97 | +€16 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €15,337 | €13,369 | -€1,969 | -12.8% |
| Income taxes | 67/77 | €5,029 | €4,565 | -€464 | -9.2% |
| Profit (loss) for the period | 9904 | €10,308 | €8,804 | -€1,505 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,308 | €8,804 | -€1,505 | -14.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.