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
- Cash -€49,148
down €49,148 (-39.8%), from €123,466 to €74,318
mainly Receivables within one year (-€32,958) and Other debts (-€22,309)
- Receivables within one year +€32,958
up €32,958 (+113.7%), from €28,999 to €61,957
of which Other amounts receivable: +€30,942
- Stocks and contracts -€11,680
down €11,680 (-42.3%), from €27,580 to €15,900
- Other debts -€22,309
no longer reported in 2025 (was €22,309)
- Tax, wage and social debts -€8,192
down €8,192 (-68.3%), from €11,998 to €3,807
of which Remuneration and social security: -€7,385
- Profit (loss) carried forward +€7,220
up €7,220 (+6.4%), from €113,396 to €120,615
- Trade debts -€6,132
down €6,132 (-37.9%), from €16,157 to €10,026
- Taxes -€12,872
down €12,872, from €12,191 to -€682
- Gross operating margin +€5,758
up €5,758 (+19.4%), from €29,712 to €35,471
- Staff costs +€1,785
up €1,785 (+8.4%), from €21,328 to €23,113
- Other operating charges +€1,042
up €1,042 (+33.2%), from €3,136 to €4,178
- Financial income +€843
up €843 (+21085.0%), from €4 to €847
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 | €184,312 | €154,899 | -€29,412 | -16.0% |
| Fixed assets | 21/28 | €4,267 | €2,724 | -€1,542 | -36.1% |
| Tangible fixed assets | 22/27 | €1,542 | - | -€1,542 | |
| Furniture and vehicles | 24 | €295 | - | -€295 | |
| Other tangible fixed assets | 26 | €1,247 | - | -€1,247 | |
| Financial fixed assets | 28 | €2,724 | €2,724 | = | 0.0% |
| Current assets | 29/58 | €180,045 | €152,175 | -€27,870 | -15.5% |
| Stocks and contracts in progress | 3 | €27,580 | €15,900 | -€11,680 | -42.3% |
| Stocks | 30/36 | €27,580 | €15,900 | -€11,680 | -42.3% |
| Amounts receivable within one year | 40/41 | €28,999 | €61,957 | +€32,958 | +113.7% |
| Trade receivables | 40 | €28,999 | €31,015 | +€2,016 | +7.0% |
| Other amounts receivable | 41 | - | €30,942 | +€30,942 | |
| Cash at bank and in hand | 54/58 | €123,466 | €74,318 | -€49,148 | -39.8% |
| Total equity and liabilities | 10/49 | €184,312 | €154,899 | -€29,412 | -16.0% |
| Equity | 10/15 | €133,847 | €141,067 | +€7,220 | +5.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,396 | €120,615 | +€7,220 | +6.4% |
| Amounts payable | 17/49 | €50,465 | €13,833 | -€36,632 | -72.6% |
| Amounts payable within one year | 42/48 | €50,465 | €13,833 | -€36,632 | -72.6% |
| Trade debts | 44 | €16,157 | €10,026 | -€6,132 | -37.9% |
| Suppliers | 440/4 | €16,157 | €10,026 | -€6,132 | -37.9% |
| Taxes, remuneration and social security | 45 | €11,998 | €3,807 | -€8,192 | -68.3% |
| Taxes | 450/3 | €1,181 | €375 | -€807 | -68.3% |
| Remuneration and social security | 454/9 | €10,817 | €3,432 | -€7,385 | -68.3% |
| Other amounts payable | 47/48 | €22,309 | - | -€22,309 | |
| Remuneration, social security and pensions | 62 | €21,328 | €23,113 | +€1,785 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,627 | €1,542 | -€85 | -5.2% |
| Other operating charges | 640/8 | €3,136 | €4,178 | +€1,042 | +33.2% |
| Gross operating margin | 9900 | €29,712 | €35,471 | +€5,758 | +19.4% |
| Operating profit (loss) | 9901 | €3,621 | €6,637 | +€3,016 | +83.3% |
| Financial income | 75/76B | €4 | €847 | +€843 | +21085.0% |
| Recurring financial income | 75 | €4 | €847 | +€843 | +21085.0% |
| Financial charges | 65/66B | €1,022 | €946 | -€76 | -7.4% |
| Recurring financial charges | 65 | €1,022 | €946 | -€76 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €2,603 | €6,538 | +€3,935 | +151.2% |
| Income taxes | 67/77 | €12,191 | -€682 | -€12,872 | |
| Profit (loss) for the period | 9904 | -€9,588 | €7,220 | +€16,808 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,588 | €7,220 | +€16,808 |
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 11 October 2026 via checked.be.