S.I.M.C.: 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.C.
Largest movements
- Cash +€842,320
up €842,320 (+192%), from €438,982 to €1.3m
mainly Receivables within one year (+€801,197) and Net result for the year (+€156,311)
- Receivables within one year -€801,197
down €801,197 (-44.9%), from €1.8m to €983,798
of which Trade receivables: -€824,870
- Tangible fixed assets -€52,834
down €52,834 (-9.6%), from €550,166 to €497,331
of which Land and buildings: -€51,557
- Reserves +€156,311
up €156,311 (+10.1%), from €1.5m to €1.7m
of which Distributable reserves: +€156,311
- Other debts -€135,609
down €135,609 (-13.4%), from €1.0m to €879,994
- Debts after one year -€71,169
down €71,169 (-10.5%), from €676,960 to €605,791
- Depreciation -€58,087
down €58,087 (-43.9%), from €132,322 to €74,235
- Taxes +€21,963
up €21,963 (+41.8%), from €52,572 to €74,535
- Gross operating margin +€12,788
up €12,788 (+4.2%), from €301,920 to €314,708
- Financial charges -€11,890
down €11,890 (-29.4%), from €40,397 to €28,506
- Other operating charges -€3,340
down €3,340 (-29.8%), from €11,198 to €7,857
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 | €3,842,186 | €3,837,302 | -€4,884 | -0.1% |
| Fixed assets | 21/28 | €1,615,833 | €1,568,018 | -€47,815 | -3.0% |
| Tangible fixed assets | 22/27 | €550,166 | €497,331 | -€52,834 | -9.6% |
| Land and buildings | 22 | €534,176 | €482,618 | -€51,557 | -9.7% |
| Plant, machinery and equipment | 23 | €13,997 | €12,546 | -€1,450 | -10.4% |
| Furniture and vehicles | 24 | €1,994 | €2,167 | +€173 | +8.7% |
| Financial fixed assets | 28 | €1,065,667 | €1,070,687 | +€5,019 | +0.5% |
| Current assets | 29/58 | €2,226,353 | €2,269,284 | +€42,931 | +1.9% |
| Amounts receivable within one year | 40/41 | €1,784,995 | €983,798 | -€801,197 | -44.9% |
| Trade receivables | 40 | €1,311,532 | €486,662 | -€824,870 | -62.9% |
| Other amounts receivable | 41 | €473,463 | €497,136 | +€23,673 | +5.0% |
| Cash at bank and in hand | 54/58 | €438,982 | €1,281,302 | +€842,320 | +192% |
| Deferred charges and accrued income | 490/1 | €2,376 | €4,184 | +€1,808 | +76.1% |
| Total equity and liabilities | 10/49 | €3,842,186 | €3,837,302 | -€4,884 | -0.1% |
| Equity | 10/15 | €1,871,626 | €2,027,936 | +€156,311 | +8.4% |
| Contributions | 10/11 | €324,661 | €324,661 | = | 0.0% |
| Capital | 10 | €324,661 | €324,661 | = | 0.0% |
| Issued capital | 100 | €324,661 | €324,661 | = | 0.0% |
| Reserves | 13 | €1,546,965 | €1,703,275 | +€156,311 | +10.1% |
| Non-distributable reserves | 130/1 | €32,466 | €32,466 | = | 0.0% |
| Legal reserve | 130 | €32,466 | €32,466 | = | 0.0% |
| Distributable reserves | 133 | €1,514,499 | €1,670,809 | +€156,311 | +10.3% |
| Amounts payable | 17/49 | €1,970,561 | €1,809,366 | -€161,195 | -8.2% |
| Amounts payable after more than one year | 17 | €676,960 | €605,791 | -€71,169 | -10.5% |
| Financial debts | 170/4 | €676,960 | €605,791 | -€71,169 | -10.5% |
| Amounts payable within one year | 42/48 | €1,272,131 | €1,171,251 | -€100,880 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €70,639 | €71,169 | +€529 | +0.7% |
| Trade debts | 44 | €10,063 | €9,200 | -€863 | -8.6% |
| Suppliers | 440/4 | €10,063 | €9,200 | -€863 | -8.6% |
| Taxes, remuneration and social security | 45 | €175,826 | €210,888 | +€35,062 | +19.9% |
| Taxes | 450/3 | €175,826 | €210,888 | +€35,062 | +19.9% |
| Other amounts payable | 47/48 | €1,015,603 | €879,994 | -€135,609 | -13.4% |
| Accrued charges and deferred income | 492/3 | €21,470 | €32,324 | +€10,854 | +50.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,322 | €74,235 | -€58,087 | -43.9% |
| Other operating charges | 640/8 | €11,198 | €7,857 | -€3,340 | -29.8% |
| Gross operating margin | 9900 | €301,920 | €314,708 | +€12,788 | +4.2% |
| Operating profit (loss) | 9901 | €158,401 | €232,615 | +€74,215 | +46.9% |
| Financial income | 75/76B | €27,933 | €26,736 | -€1,197 | -4.3% |
| Recurring financial income | 75 | €27,933 | €26,736 | -€1,197 | -4.3% |
| Financial charges | 65/66B | €40,397 | €28,506 | -€11,890 | -29.4% |
| Recurring financial charges | 65 | €40,397 | €28,506 | -€11,890 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €145,937 | €230,845 | +€84,908 | +58.2% |
| Income taxes | 67/77 | €52,572 | €74,535 | +€21,963 | +41.8% |
| Profit (loss) for the period | 9904 | €93,365 | €156,311 | +€62,946 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €93,365 | €156,311 | +€62,946 | +67.4% |
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 24 October 2026 via checked.be.