SIMA RAIL & BUILD: 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.
SIMA RAIL & BUILD
Largest movements
- Receivables within one year +€779,742
up €779,742 (+132%), from €590,664 to €1.4m
of which Trade receivables: +€575,019
- Cash +€73,661
up €73,661 (+1,375%), from €5,359 to €79,020
mainly Trade debts (+€433,197) and Other debts (+€137,000)
- Tangible fixed assets -€43,777
down €43,777 (-33.2%), from €131,921 to €88,144
of which Furniture and vehicles: -€43,234
- Trade debts +€433,197
up €433,197 (+439%), from €98,612 to €531,809
- Other debts +€137,000
up €137,000 (+228%), from €60,000 to €197,000
- Short-term financial debts +€109,084
new in 2025: €109,084
- Current portion of long-term debt +€103,040
up €103,040 (+206%), from €50,000 to €153,040
- Debts after one year -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin -€12,422
down €12,422 (-6.4%), from €195,087 to €182,665
- Depreciation +€9,337
up €9,337 (+19.9%), from €47,000 to €56,337
- Financial income +€6,217
up €6,217 (+21,439%), from €29 to €6,246
- Financial charges +€4,582
up €4,582 (+26.1%), from €17,576 to €22,158
- Other operating charges -€2,674
down €2,674 (-9.5%), from €28,086 to €25,412
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 | €751,468 | €1,564,414 | +€812,946 | +108% |
| Fixed assets | 21/28 | €147,999 | €104,222 | -€43,777 | -29.6% |
| Intangible fixed assets | 21 | €10,000 | €10,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €131,921 | €88,144 | -€43,777 | -33.2% |
| Plant, machinery and equipment | 23 | €7,960 | €7,416 | -€544 | -6.8% |
| Furniture and vehicles | 24 | €123,961 | €80,727 | -€43,234 | -34.9% |
| Financial fixed assets | 28 | €6,078 | €6,078 | = | 0.0% |
| Current assets | 29/58 | €603,469 | €1,460,193 | +€856,724 | +142% |
| Amounts receivable within one year | 40/41 | €590,664 | €1,370,406 | +€779,742 | +132% |
| Trade receivables | 40 | €417,554 | €992,573 | +€575,019 | +138% |
| Other amounts receivable | 41 | €173,110 | €377,832 | +€204,722 | +118% |
| Cash at bank and in hand | 54/58 | €5,359 | €79,020 | +€73,661 | +1,375% |
| Deferred charges and accrued income | 490/1 | €7,446 | €10,767 | +€3,321 | +44.6% |
| Total equity and liabilities | 10/49 | €751,468 | €1,564,414 | +€812,946 | +108% |
| Equity | 10/15 | €428,919 | €465,414 | +€36,495 | +8.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €422,919 | €459,414 | +€36,495 | +8.6% |
| Amounts payable | 17/49 | €322,549 | €1,099,000 | +€776,451 | +241% |
| Amounts payable after more than one year | 17 | €50,000 | - | -€50,000 | |
| Financial debts | 170/4 | €50,000 | - | -€50,000 | |
| Amounts payable within one year | 42/48 | €272,549 | €1,099,000 | +€826,451 | +303% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €153,040 | +€103,040 | +206% |
| Financial debts | 43 | - | €109,084 | +€109,084 | |
| Credit institutions | 430/8 | - | €109,084 | +€109,084 | |
| Trade debts | 44 | €98,612 | €531,809 | +€433,197 | +439% |
| Suppliers | 440/4 | €98,612 | €531,809 | +€433,197 | +439% |
| Taxes, remuneration and social security | 45 | €63,937 | €108,068 | +€44,131 | +69.0% |
| Taxes | 450/3 | €63,937 | €39,630 | -€24,307 | -38.0% |
| Remuneration and social security | 454/9 | - | €68,438 | +€68,438 | |
| Other amounts payable | 47/48 | €60,000 | €197,000 | +€137,000 | +228% |
| Non-recurring operating income | 76A | - | €5,990 | +€5,990 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,000 | €56,337 | +€9,337 | +19.9% |
| Other operating charges | 640/8 | €28,086 | €25,412 | -€2,674 | -9.5% |
| Non-recurring operating charges | 66A | - | -€0 | -€0 | |
| Gross operating margin | 9900 | €195,087 | €182,665 | -€12,422 | -6.4% |
| Operating profit (loss) | 9901 | €120,001 | €100,915 | -€19,086 | -15.9% |
| Financial income | 75/76B | €29 | €6,246 | +€6,217 | +21,439% |
| Recurring financial income | 75 | €29 | €6,246 | +€6,217 | +21,439% |
| Financial charges | 65/66B | €17,576 | €22,158 | +€4,582 | +26.1% |
| Recurring financial charges | 65 | €17,576 | €22,158 | +€4,582 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | €102,454 | €85,004 | -€17,450 | -17.0% |
| Income taxes | 67/77 | €42,854 | €41,509 | -€1,345 | -3.1% |
| Profit (loss) for the period | 9904 | €59,600 | €43,495 | -€16,105 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,600 | €43,495 | -€16,105 | -27.0% |
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 1 November 2026 via checked.be.