SIM-SAGA: what changed
Two fiscal 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.
SIM-SAGA
Largest movements
- Tangible fixed assets -€154,917
down €154,917 (-23.2%), from €667,358 to €512,441
of which Plant, machinery and equipment: -€159,077
- Cash +€80,923
up €80,923 (+33.6%), from €240,828 to €321,750
mainly Net result for the year (+€404,712) and Depreciation (+€135,083)
- Stocks and contracts -€47,073
down €47,073 (-8.8%), from €535,060 to €487,987
- Other debts -€345,568
down €345,568 (-52.3%), from €660,570 to €315,002
- Reserves +€254,712
up €254,712 (+47.2%), from €539,321 to €794,032
- Trade debts -€202,228
down €202,228 (-17.4%), from €1.2m to €959,411
- Short-term financial debts +€101,725
up €101,725 (+119.7%), from €85,000 to €186,725
- Debts after one year +€76,829
up €76,829 (+51.6%), from €148,783 to €225,613
- Gross operating margin +€434,246
up €434,246 (+75.1%), from €578,254 to €1.0m
- Taxes +€93,894
up €93,894 (+546.3%), from €17,186 to €111,080
- Depreciation -€84,174
down €84,174 (-38.4%), from €219,257 to €135,083
- Financial charges +€32,329
up €32,329 (+235.4%), from €13,732 to €46,062
of which Non-recurring financial charges: +€36,963
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 | €3,035,179 | €2,904,528 | -€130,651 | -4.3% |
| Fixed assets | 21/28 | €667,608 | €512,691 | -€154,917 | -23.2% |
| Tangible fixed assets | 22/27 | €667,358 | €512,441 | -€154,917 | -23.2% |
| Plant, machinery and equipment | 23 | €481,587 | €322,510 | -€159,077 | -33.0% |
| Furniture and vehicles | 24 | €11,500 | €24,667 | +€13,168 | +114.5% |
| Leasing and similar rights | 25 | €19,950 | €14,630 | -€5,320 | -26.7% |
| Other tangible fixed assets | 26 | €154,321 | €150,634 | -€3,688 | -2.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €2,367,571 | €2,391,836 | +€24,265 | +1.0% |
| Stocks and contracts in progress | 3 | €535,060 | €487,987 | -€47,073 | -8.8% |
| Stocks | 30/36 | €535,060 | €487,987 | -€47,073 | -8.8% |
| Amounts receivable within one year | 40/41 | €1,573,692 | €1,558,186 | -€15,506 | -1.0% |
| Trade receivables | 40 | €1,273,027 | €1,331,708 | +€58,681 | +4.6% |
| Other amounts receivable | 41 | €300,665 | €226,478 | -€74,187 | -24.7% |
| Cash at bank and in hand | 54/58 | €240,828 | €321,750 | +€80,923 | +33.6% |
| Deferred charges and accrued income | 490/1 | €17,991 | €23,914 | +€5,922 | +32.9% |
| Total equity and liabilities | 10/49 | €3,035,179 | €2,904,528 | -€130,651 | -4.3% |
| Equity | 10/15 | €789,810 | €1,044,522 | +€254,712 | +32.2% |
| Contributions | 10/11 | €250,489 | €250,489 | = | 0.0% |
| Reserves | 13 | €539,321 | €794,032 | +€254,712 | +47.2% |
| Distributable reserves | 133 | €539,321 | €794,032 | +€254,712 | +47.2% |
| Amounts payable | 17/49 | €2,245,369 | €1,860,006 | -€385,363 | -17.2% |
| Amounts payable after more than one year | 17 | €148,783 | €225,613 | +€76,829 | +51.6% |
| Financial debts | 170/4 | €148,783 | €225,613 | +€76,829 | +51.6% |
| Amounts payable within one year | 42/48 | €2,073,405 | €1,574,720 | -€498,684 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €93,980 | €72,560 | -€21,420 | -22.8% |
| Financial debts | 43 | €85,000 | €186,725 | +€101,725 | +119.7% |
| Credit institutions | 430/8 | €85,000 | €186,725 | +€101,725 | +119.7% |
| Trade debts | 44 | €1,161,639 | €959,411 | -€202,228 | -17.4% |
| Suppliers | 440/4 | €1,161,639 | €959,411 | -€202,228 | -17.4% |
| Advances received on contracts in progress | 46 | - | €4,235 | +€4,235 | |
| Taxes, remuneration and social security | 45 | €72,216 | €36,787 | -€35,429 | -49.1% |
| Taxes | 450/3 | €44,407 | €3,789 | -€40,617 | -91.5% |
| Remuneration and social security | 454/9 | €27,810 | €32,998 | +€5,188 | +18.7% |
| Other amounts payable | 47/48 | €660,570 | €315,002 | -€345,568 | -52.3% |
| Accrued charges and deferred income | 492/3 | €23,181 | €59,673 | +€36,492 | +157.4% |
| Non-recurring operating income | 76A | €9 | €287,469 | +€287,460 | +3300345.0% |
| Remuneration, social security and pensions | 62 | €263,773 | €266,097 | +€2,324 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219,257 | €135,083 | -€84,174 | -38.4% |
| Other operating charges | 640/8 | €26,137 | €27,834 | +€1,697 | +6.5% |
| Non-recurring operating charges | 66A | €1,488 | €22,185 | +€20,697 | +1390.9% |
| Gross operating margin | 9900 | €578,254 | €1,012,500 | +€434,246 | +75.1% |
| Operating profit (loss) | 9901 | €67,599 | €561,301 | +€493,702 | +730.3% |
| Financial income | 75/76B | €284 | €552 | +€269 | +94.8% |
| Recurring financial income | 75 | €284 | €552 | +€269 | +94.8% |
| Financial charges | 65/66B | €13,732 | €46,062 | +€32,329 | +235.4% |
| Recurring financial charges | 65 | €13,732 | €9,098 | -€4,634 | -33.7% |
| Non-recurring financial charges | 66B | - | €36,963 | +€36,963 | |
| Profit (loss) for the period before taxes | 9903 | €54,150 | €515,792 | +€461,641 | +852.5% |
| Income taxes | 67/77 | €17,186 | €111,080 | +€93,894 | +546.3% |
| Profit (loss) for the period | 9904 | €36,964 | €404,712 | +€367,747 | +994.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,964 | €404,712 | +€367,747 | +994.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.