S.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.M.
Largest movements
- Tangible fixed assets +€360,268
up €360,268 (+50.6%), from €712,010 to €1.1m
of which Land and buildings: +€360,268
- Cash -€120,839
down €120,839 (-79.7%), from €151,617 to €30,778
mainly Investment in fixed assets (net) (-€368,848) and Net result for the year (-€4,316)
- Other debts +€238,611
new in 2025: €238,611
- Financial income -€2,336
down €2,336 (-65.2%), from €3,582 to €1,246
- Gross operating margin +€2,150
up €2,150 (+40.6%), from €5,295 to €7,445
- Other operating charges +€492
up €492 (+14.4%), from €3,408 to €3,901
- Taxes +€374
new in 2025: €374
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 | €871,970 | €1,105,990 | +€234,020 | +26.8% |
| Fixed assets | 21/28 | €712,010 | €1,072,279 | +€360,268 | +50.6% |
| Tangible fixed assets | 22/27 | €712,010 | €1,072,279 | +€360,268 | +50.6% |
| Land and buildings | 22 | €506,180 | €866,449 | +€360,268 | +71.2% |
| Furniture and vehicles | 24 | €205,830 | €205,830 | = | 0.0% |
| Current assets | 29/58 | €159,960 | €33,711 | -€126,248 | -78.9% |
| Amounts receivable within one year | 40/41 | €6,404 | €1,044 | -€5,360 | -83.7% |
| Other amounts receivable | 41 | €6,404 | €1,044 | -€5,360 | -83.7% |
| Cash at bank and in hand | 54/58 | €151,617 | €30,778 | -€120,839 | -79.7% |
| Deferred charges and accrued income | 490/1 | €1,938 | €1,889 | -€49 | -2.6% |
| Total equity and liabilities | 10/49 | €871,970 | €1,105,990 | +€234,020 | +26.8% |
| Equity | 10/15 | €871,695 | €867,379 | -€4,316 | -0.5% |
| Contributions | 10/11 | €619,734 | €619,734 | = | 0.0% |
| Capital | 10 | €619,734 | €619,734 | = | 0.0% |
| Issued capital | 100 | €619,734 | €619,734 | = | 0.0% |
| Reserves | 13 | €329,710 | €329,710 | = | 0.0% |
| Tax-exempt reserves | 132 | €285,000 | €285,000 | = | 0.0% |
| Distributable reserves | 133 | €44,710 | €44,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,750 | -€82,065 | -€4,316 | -5.6% |
| Amounts payable | 17/49 | €275 | €238,611 | +€238,335 | +86,604% |
| Amounts payable within one year | 42/48 | €275 | €238,611 | +€238,335 | +86,604% |
| Trade debts | 44 | €275 | - | -€275 | |
| Suppliers | 440/4 | €275 | - | -€275 | |
| Other amounts payable | 47/48 | - | €238,611 | +€238,611 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,580 | €8,580 | = | 0.0% |
| Other operating charges | 640/8 | €3,408 | €3,901 | +€492 | +14.4% |
| Gross operating margin | 9900 | €5,295 | €7,445 | +€2,150 | +40.6% |
| Operating profit (loss) | 9901 | -€6,693 | -€5,036 | +€1,658 | +24.8% |
| Financial income | 75/76B | €3,582 | €1,246 | -€2,336 | -65.2% |
| Recurring financial income | 75 | €3,582 | €1,246 | -€2,336 | -65.2% |
| Financial charges | 65/66B | €144 | €152 | +€8 | +5.4% |
| Recurring financial charges | 65 | €144 | €152 | +€8 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,256 | -€3,942 | -€686 | -21.1% |
| Income taxes | 67/77 | - | €374 | +€374 | |
| Profit (loss) for the period | 9904 | -€3,256 | -€4,316 | -€1,060 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,256 | -€4,316 | -€1,060 | -32.5% |
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 28 October 2026 via checked.be.