SIMAR: 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.
SIMAR
Largest movements
- Receivables within one year -€131,813
down €131,813 (-85.9%), from €153,364 to €21,551
of which Trade receivables: -€131,829
- Stocks and contracts +€117,486
up €117,486 (+65.1%), from €180,383 to €297,869
- Cash -€21,809
down €21,809 (-17.7%), from €123,512 to €101,703
mainly Stocks and contracts (-€117,486) and Trade debts (-€54,930)
- Trade debts -€54,930
down €54,930 (-8.6%), from €637,895 to €582,965
- Tax, wage and social debts +€11,034
up €11,034 (+78.3%), from €14,092 to €25,126
of which Remuneration and social security: +€10,126
- Profit (loss) carried forward +€5,068
up €5,068 (+1.7%), from -€296,743 to -€291,676
- Staff costs +€9,106
up €9,106 (+6.7%), from €135,035 to €144,141
- Gross operating margin +€7,464
up €7,464 (+5.1%), from €147,357 to €154,822
- Financial charges +€2,024
up €2,024 (+310.6%), from €652 to €2,676
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 | €474,744 | €435,915 | -€38,829 | -8.2% |
| Fixed assets | 21/28 | €7,072 | €4,866 | -€2,206 | -31.2% |
| Tangible fixed assets | 22/27 | €6,592 | €4,386 | -€2,206 | -33.5% |
| Plant, machinery and equipment | 23 | €6,592 | €4,386 | -€2,206 | -33.5% |
| Financial fixed assets | 28 | €480 | €480 | = | 0.0% |
| Current assets | 29/58 | €467,672 | €431,050 | -€36,622 | -7.8% |
| Stocks and contracts in progress | 3 | €180,383 | €297,869 | +€117,486 | +65.1% |
| Stocks | 30/36 | €180,383 | €297,869 | +€117,486 | +65.1% |
| Amounts receivable within one year | 40/41 | €153,364 | €21,551 | -€131,813 | -85.9% |
| Trade receivables | 40 | €153,364 | €21,535 | -€131,829 | -86.0% |
| Other amounts receivable | 41 | €0 | €16 | +€16 | |
| Cash at bank and in hand | 54/58 | €123,512 | €101,703 | -€21,809 | -17.7% |
| Deferred charges and accrued income | 490/1 | €10,413 | €9,927 | -€485 | -4.7% |
| Total equity and liabilities | 10/49 | €474,744 | €435,915 | -€38,829 | -8.2% |
| Equity | 10/15 | -€177,243 | -€172,176 | +€5,068 | +2.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €58,000 | €58,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,500 | €50,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€296,743 | -€291,676 | +€5,068 | +1.7% |
| Amounts payable | 17/49 | €651,987 | €608,091 | -€43,896 | -6.7% |
| Amounts payable within one year | 42/48 | €651,987 | €608,091 | -€43,896 | -6.7% |
| Trade debts | 44 | €637,895 | €582,965 | -€54,930 | -8.6% |
| Suppliers | 440/4 | €637,895 | €582,965 | -€54,930 | -8.6% |
| Taxes, remuneration and social security | 45 | €14,092 | €25,126 | +€11,034 | +78.3% |
| Taxes | 450/3 | €7,338 | €8,246 | +€908 | +12.4% |
| Remuneration and social security | 454/9 | €6,754 | €16,880 | +€10,126 | +149.9% |
| Remuneration, social security and pensions | 62 | €135,035 | €144,141 | +€9,106 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,206 | €2,206 | = | 0.0% |
| Other operating charges | 640/8 | €1,278 | €910 | -€368 | -28.8% |
| Gross operating margin | 9900 | €147,357 | €154,822 | +€7,464 | +5.1% |
| Operating profit (loss) | 9901 | €8,838 | €7,564 | -€1,273 | -14.4% |
| Financial income | 75/76B | €587 | €179 | -€407 | -69.5% |
| Recurring financial income | 75 | €587 | €179 | -€407 | -69.5% |
| Financial charges | 65/66B | €652 | €2,676 | +€2,024 | +310.6% |
| Recurring financial charges | 65 | €652 | €2,676 | +€2,024 | +310.6% |
| Profit (loss) for the period before taxes | 9903 | €8,773 | €5,068 | -€3,705 | -42.2% |
| Income taxes | 67/77 | €4 | €0 | -€4 | -100.0% |
| Profit (loss) for the period | 9904 | €8,769 | €5,068 | -€3,701 | -42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,769 | €5,068 | -€3,701 | -42.2% |
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 10 October 2026 via checked.be.