S.I.I.M.: 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.
S.I.I.M.
Largest movements
- Current investments +€3.5m
new in 2026: €3.5m
- Receivables within one year +€957,024
up €957,024 (+369%), from €259,695 to €1.2m
- Financial fixed assets -€273,515
down €273,515 (-99.8%), from €274,001 to €486
- Tangible fixed assets +€226,860
up €226,860 (+32.8%), from €691,805 to €918,665
- Receivables after one year -€212,066
down €212,066 (-100%), from €212,066 to €0
- Reserves +€2.6m
up €2.6m (+1,338%), from €191,416 to €2.8m
of which Distributable reserves: +€2.6m
- Other debts +€1.8m
up €1.8m (+430%), from €413,290 to €2.2m
- Financial income +€4.7m
up €4.7m (+3,007%), from €156,146 to €4.9m
of which Non-recurring financial income: +€4.8m
- Depreciation +€23,489
new in 2026: €23,489
- Gross operating margin -€15,101
down €15,101 (-122%), from -€12,368 to -€27,469
- Other operating charges +€8,431
up €8,431 (+444%), from €1,899 to €10,330
- Financial charges +€6,452
up €6,452 (+27.0%), from €23,886 to €30,337
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,442,505 | €5,718,245 | +€4.3m | +296% |
| Fixed assets | 21/28 | €965,806 | €919,151 | -€46,655 | -4.8% |
| Tangible fixed assets | 22/27 | €691,805 | €918,665 | +€226,860 | +32.8% |
| Land and buildings | 22 | €691,805 | €918,665 | +€226,860 | +32.8% |
| Financial fixed assets | 28 | €274,001 | €486 | -€273,515 | -99.8% |
| Current assets | 29/58 | €476,699 | €4,799,094 | +€4.3m | +907% |
| Amounts receivable after more than one year | 29 | €212,066 | €0 | -€212,066 | -100% |
| Other amounts receivable | 291 | €212,066 | €0 | -€212,066 | -100% |
| Amounts receivable within one year | 40/41 | €259,695 | €1,216,719 | +€957,024 | +369% |
| Other amounts receivable | 41 | €259,695 | €1,216,719 | +€957,024 | +369% |
| Current investments | 50/53 | - | €3,506,792 | +€3.5m | |
| Cash at bank and in hand | 54/58 | €4,652 | €75,237 | +€70,585 | +1,517% |
| Deferred charges and accrued income | 490/1 | €286 | €346 | +€60 | +21.0% |
| Total equity and liabilities | 10/49 | €1,442,505 | €5,718,245 | +€4.3m | +296% |
| Equity | 10/15 | €210,016 | €2,770,998 | +€2.6m | +1,219% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €191,416 | €2,752,398 | +€2.6m | +1,338% |
| Tax-exempt reserves | 132 | €60 | €60 | = | 0.0% |
| Distributable reserves | 133 | €191,356 | €2,752,338 | +€2.6m | +1,338% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,232,489 | €2,947,248 | +€1.7m | +139% |
| Amounts payable after more than one year | 17 | €748,233 | €699,162 | -€49,071 | -6.6% |
| Financial debts | 170/4 | €718,233 | €699,162 | -€19,071 | -2.7% |
| Other amounts payable | 178/9 | €30,000 | €0 | -€30,000 | -100% |
| Amounts payable within one year | 42/48 | €484,256 | €2,248,086 | +€1.8m | +364% |
| Current portion of amounts payable after more than one year | 42 | €42,064 | €44,039 | +€1,976 | +4.7% |
| Trade debts | 44 | €4,590 | €5,570 | +€981 | +21.4% |
| Suppliers | 440/4 | €4,590 | €5,570 | +€981 | +21.4% |
| Taxes, remuneration and social security | 45 | €24,313 | €8,476 | -€15,837 | -65.1% |
| Taxes | 450/3 | €24,313 | €8,476 | -€15,837 | -65.1% |
| Other amounts payable | 47/48 | €413,290 | €2,190,000 | +€1.8m | +430% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €23,489 | +€23,489 | |
| Other operating charges | 640/8 | €1,899 | €10,330 | +€8,431 | +444% |
| Non-recurring operating charges | 66A | - | €9,300 | +€9,300 | |
| Gross operating margin | 9900 | -€12,368 | -€27,469 | -€15,101 | -122% |
| Operating profit (loss) | 9901 | -€14,266 | -€70,588 | -€56,321 | -395% |
| Financial income | 75/76B | €156,146 | €4,851,906 | +€4.7m | +3,007% |
| Recurring financial income | 75 | €156,146 | €80,745 | -€75,401 | -48.3% |
| Non-recurring financial income | 76B | - | €4,771,161 | +€4.8m | |
| Financial charges | 65/66B | €23,886 | €30,337 | +€6,452 | +27.0% |
| Recurring financial charges | 65 | €23,886 | €30,337 | +€6,452 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €117,995 | €4,750,981 | +€4.6m | +3,926% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €117,995 | €4,750,981 | +€4.6m | +3,926% |
| Profit (loss) for the period to be appropriated | 9905 | €117,995 | €4,750,981 | +€4.6m | +3,926% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.