SIMAF: 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.
SIMAF
Largest movements
- Receivables within one year -€22,635
down €22,635 (-25.1%), from €90,172 to €67,538
of which Other amounts receivable: -€13,688
- Cash -€10,390
down €10,390 (-45.2%), from €22,993 to €12,603
mainly Trade debts (-€18,114) and Net result for the year (-€16,634)
- Deferred charges and accrued income -€4,490
no longer reported in 2025 (was €4,490)
- Tangible fixed assets -€3,592
down €3,592 (-6.9%), from €51,811 to €48,219
of which Furniture and vehicles: -€2,177
- Trade debts -€18,114
down €18,114 (-61.8%), from €29,322 to €11,209
- Profit (loss) carried forward -€16,634
down €16,634 (-25.1%), from €66,387 to €49,753
- Tax, wage and social debts -€6,338
down €6,338 (-53.3%), from €11,893 to €5,555
of which Taxes: -€3,584
- Debts after one year -€4,303
down €4,303 (-56.7%), from €7,587 to €3,284
- Other debts +€3,784
up €3,784 (+12.6%), from €30,000 to €33,784
- Staff costs +€12,223
up €12,223 (+87.4%), from €13,982 to €26,205
- Gross operating margin -€9,101
down €9,101 (-32.4%), from €28,113 to €19,013
- Taxes -€6,752
no longer reported in 2025 (was €6,752)
- Other operating charges -€1,624
down €1,624 (-49.4%), from €3,284 to €1,660
- Financial charges +€507
up €507 (+42.8%), from €1,184 to €1,691
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 | €169,467 | €128,360 | -€41,107 | -24.3% |
| Fixed assets | 21/28 | €51,811 | €48,219 | -€3,592 | -6.9% |
| Tangible fixed assets | 22/27 | €51,811 | €48,219 | -€3,592 | -6.9% |
| Land and buildings | 22 | €40,000 | €40,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,524 | €4,109 | -€1,414 | -25.6% |
| Furniture and vehicles | 24 | €6,287 | €4,110 | -€2,177 | -34.6% |
| Current assets | 29/58 | €117,656 | €80,141 | -€37,515 | -31.9% |
| Amounts receivable within one year | 40/41 | €90,172 | €67,538 | -€22,635 | -25.1% |
| Trade receivables | 40 | €69,180 | €60,233 | -€8,946 | -12.9% |
| Other amounts receivable | 41 | €20,993 | €7,304 | -€13,688 | -65.2% |
| Cash at bank and in hand | 54/58 | €22,993 | €12,603 | -€10,390 | -45.2% |
| Deferred charges and accrued income | 490/1 | €4,490 | - | -€4,490 | |
| Total equity and liabilities | 10/49 | €169,467 | €128,360 | -€41,107 | -24.3% |
| Equity | 10/15 | €86,447 | €70,213 | -€16,234 | -18.8% |
| Contributions | 10/11 | €18,200 | €18,600 | +€400 | +2.2% |
| Capital | 10 | €18,200 | €18,600 | +€400 | +2.2% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €400 | - | -€400 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,387 | €49,753 | -€16,634 | -25.1% |
| Amounts payable | 17/49 | €83,020 | €58,148 | -€24,873 | -30.0% |
| Amounts payable after more than one year | 17 | €7,587 | €3,284 | -€4,303 | -56.7% |
| Financial debts | 170/4 | €7,587 | €3,284 | -€4,303 | -56.7% |
| Amounts payable within one year | 42/48 | €75,433 | €54,850 | -€20,584 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €4,218 | €4,303 | +€85 | +2.0% |
| Trade debts | 44 | €29,322 | €11,209 | -€18,114 | -61.8% |
| Suppliers | 440/4 | €29,322 | €11,209 | -€18,114 | -61.8% |
| Taxes, remuneration and social security | 45 | €11,893 | €5,555 | -€6,338 | -53.3% |
| Taxes | 450/3 | €3,684 | €100 | -€3,584 | -97.3% |
| Remuneration and social security | 454/9 | €8,210 | €5,455 | -€2,755 | -33.6% |
| Other amounts payable | 47/48 | €30,000 | €33,784 | +€3,784 | +12.6% |
| Accrued charges and deferred income | 492/3 | - | €14 | +€14 | |
| Remuneration, social security and pensions | 62 | €13,982 | €26,205 | +€12,223 | +87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,797 | €6,090 | +€294 | +5.1% |
| Other operating charges | 640/8 | €3,284 | €1,660 | -€1,624 | -49.4% |
| Gross operating margin | 9900 | €28,113 | €19,013 | -€9,101 | -32.4% |
| Operating profit (loss) | 9901 | €5,050 | -€14,943 | -€19,994 | |
| Financial charges | 65/66B | €1,184 | €1,691 | +€507 | +42.8% |
| Recurring financial charges | 65 | €1,184 | €1,691 | +€507 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | €3,866 | -€16,634 | -€20,501 | |
| Income taxes | 67/77 | €6,752 | - | -€6,752 | |
| Profit (loss) for the period | 9904 | -€2,886 | -€16,634 | -€13,749 | -476% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,886 | -€16,634 | -€13,749 | -476% |
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 18 October 2026 via checked.be.