SIM-ULFI: 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-ULFI
Largest movements
- Receivables within one year +€16,506
up €16,506 (+53.7%), from €30,713 to €47,219
of which Trade receivables: +€30,008
- Intangible fixed assets -€15,000
down €15,000 (-70.6%), from €21,250 to €6,250
- Cash +€2,806
up €2,806 (+158.4%), from €1,771 to €4,577
mainly Depreciation (+€15,000) and Net result for the year (+€5,933)
- Deferred charges and accrued income +€1,690
up €1,690, from €0 to €1,690
- Profit (loss) carried forward +€5,933
up €5,933 (+24.7%), from €24,011 to €29,944
- Other debts +€4,104
up €4,104 (+414.6%), from €990 to €5,094
- Trade debts -€2,956
down €2,956 (-58.5%), from €5,057 to €2,101
- Current portion of long-term debt -€1,479
no longer reported in 2025 (was €1,479)
- Staff costs -€10,350
no longer reported in 2025 (was €10,350)
- Gross operating margin -€8,004
down €8,004 (-24.8%), from €32,323 to €24,318
- Taxes +€516
up €516 (+26.7%), from €1,931 to €2,447
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 | €54,097 | €60,099 | +€6,002 | +11.1% |
| Fixed assets | 21/28 | €21,613 | €6,613 | -€15,000 | -69.4% |
| Intangible fixed assets | 21 | €21,250 | €6,250 | -€15,000 | -70.6% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €32,484 | €53,486 | +€21,002 | +64.7% |
| Amounts receivable within one year | 40/41 | €30,713 | €47,219 | +€16,506 | +53.7% |
| Trade receivables | 40 | €17,211 | €47,219 | +€30,008 | +174.4% |
| Other amounts receivable | 41 | €13,502 | - | -€13,502 | |
| Cash at bank and in hand | 54/58 | €1,771 | €4,577 | +€2,806 | +158.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,690 | +€1,690 | |
| Total equity and liabilities | 10/49 | €54,097 | €60,099 | +€6,002 | +11.1% |
| Equity | 10/15 | €44,471 | €50,404 | +€5,933 | +13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,011 | €29,944 | +€5,933 | +24.7% |
| Amounts payable | 17/49 | €9,626 | €9,695 | +€69 | +0.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €9,626 | €9,695 | +€69 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €1,479 | - | -€1,479 | |
| Trade debts | 44 | €5,057 | €2,101 | -€2,956 | -58.5% |
| Suppliers | 440/4 | €5,057 | €2,101 | -€2,956 | -58.5% |
| Taxes, remuneration and social security | 45 | €2,100 | €2,500 | +€400 | +19.0% |
| Taxes | 450/3 | €2,100 | €2,500 | +€400 | +19.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €990 | €5,094 | +€4,104 | +414.6% |
| Remuneration, social security and pensions | 62 | €10,350 | - | -€10,350 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,000 | €15,000 | = | 0.0% |
| Other operating charges | 640/8 | €862 | €751 | -€111 | -12.9% |
| Gross operating margin | 9900 | €32,323 | €24,318 | -€8,004 | -24.8% |
| Operating profit (loss) | 9901 | €6,110 | €8,567 | +€2,457 | +40.2% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €232 | €189 | -€43 | -18.4% |
| Recurring financial charges | 65 | €232 | €189 | -€43 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €5,878 | €8,380 | +€2,501 | +42.6% |
| Income taxes | 67/77 | €1,931 | €2,447 | +€516 | +26.7% |
| Profit (loss) for the period | 9904 | €3,947 | €5,933 | +€1,985 | +50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,947 | €5,933 | +€1,985 | +50.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.