SCIMITER: 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.
SCIMITER
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Stocks and contracts -€208,174
down €208,174 (-50.9%), from €408,732 to €200,558
of which Contracts in progress: -€208,174
- Receivables within one year -€10,259
down €10,259 (-93.5%), from €10,972 to €714
of which Other amounts receivable: -€8,699
- Debts after one year +€225,000
new in 2025: €225,000
- Other debts -€224,005
down €224,005 (-99.7%), from €224,667 to €662
- Reserves +€73,900
up €73,900 (+50.3%), from €146,950 to €220,850
- Trade debts -€32,126
down €32,126 (-94.9%), from €33,847 to €1,722
- Short-term financial debts -€20,738
no longer reported in 2025 (was €20,738)
- Gross operating margin +€27,337
up €27,337 (+32.9%), from €82,989 to €110,325
- Taxes +€13,794
up €13,794 (+63.7%), from €21,660 to €35,454
- Financial income +€2,990
up €2,990 (+123%), from €2,425 to €5,415
- Financial charges +€1,648
up €1,648 (+189%), from €874 to €2,522
- Depreciation +€1,583
up €1,583 (+225%), from €704 to €2,287
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 | €453,725 | €486,355 | +€32,630 | +7.2% |
| Fixed assets | 21/28 | €23,031 | €27,405 | +€4,374 | +19.0% |
| Tangible fixed assets | 22/27 | €23,031 | €27,405 | +€4,374 | +19.0% |
| Land and buildings | 22 | €18,621 | €18,304 | -€317 | -1.7% |
| Plant, machinery and equipment | 23 | €3,757 | €3,122 | -€635 | -16.9% |
| Furniture and vehicles | 24 | €653 | €5,979 | +€5,326 | +816% |
| Current assets | 29/58 | €430,694 | €458,949 | +€28,255 | +6.6% |
| Stocks and contracts in progress | 3 | €408,732 | €200,558 | -€208,174 | -50.9% |
| Stocks | 30/36 | €163,671 | €163,671 | = | 0.0% |
| Contracts in progress | 37 | €245,061 | €36,887 | -€208,174 | -84.9% |
| Amounts receivable within one year | 40/41 | €10,972 | €714 | -€10,259 | -93.5% |
| Trade receivables | 40 | €1,560 | - | -€1,560 | |
| Other amounts receivable | 41 | €9,412 | €714 | -€8,699 | -92.4% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €10,990 | €7,678 | -€3,312 | -30.1% |
| Total equity and liabilities | 10/49 | €453,725 | €486,355 | +€32,630 | +7.2% |
| Equity | 10/15 | €174,472 | €248,381 | +€73,909 | +42.4% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €146,950 | €220,850 | +€73,900 | +50.3% |
| Distributable reserves | 133 | €146,950 | €220,850 | +€73,900 | +50.3% |
| Profit (loss) carried forward | 14 | €22 | €31 | +€9 | +40.1% |
| Amounts payable | 17/49 | €279,253 | €237,973 | -€41,279 | -14.8% |
| Amounts payable after more than one year | 17 | - | €225,000 | +€225,000 | |
| Financial debts | 170/4 | - | €225,000 | +€225,000 | |
| Amounts payable within one year | 42/48 | €279,253 | €12,973 | -€266,279 | -95.4% |
| Financial debts | 43 | €20,738 | - | -€20,738 | |
| Credit institutions | 430/8 | €20,738 | - | -€20,738 | |
| Trade debts | 44 | €33,847 | €1,722 | -€32,126 | -94.9% |
| Suppliers | 440/4 | €33,847 | €1,722 | -€32,126 | -94.9% |
| Taxes, remuneration and social security | 45 | - | €10,590 | +€10,590 | |
| Taxes | 450/3 | - | €10,590 | +€10,590 | |
| Other amounts payable | 47/48 | €224,667 | €662 | -€224,005 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €2,287 | +€1,583 | +225% |
| Other operating charges | 640/8 | €1,458 | €1,568 | +€110 | +7.5% |
| Gross operating margin | 9900 | €82,989 | €110,325 | +€27,337 | +32.9% |
| Operating profit (loss) | 9901 | €80,827 | €106,470 | +€25,644 | +31.7% |
| Financial income | 75/76B | €2,425 | €5,415 | +€2,990 | +123% |
| Recurring financial income | 75 | €2,425 | €5,415 | +€2,990 | +123% |
| Financial charges | 65/66B | €874 | €2,522 | +€1,648 | +189% |
| Recurring financial charges | 65 | €874 | €2,522 | +€1,648 | +189% |
| Profit (loss) for the period before taxes | 9903 | €82,378 | €109,363 | +€26,986 | +32.8% |
| Income taxes | 67/77 | €21,660 | €35,454 | +€13,794 | +63.7% |
| Profit (loss) for the period | 9904 | €60,718 | €73,909 | +€13,191 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,718 | €73,909 | +€13,191 | +21.7% |
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 25 October 2026 via checked.be.