SIMAR: 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.
SIMAR
Largest movements
- Cash +€82,334
up €82,334 (+52.3%), from €157,384 to €239,718
mainly Trade debts (+€71,101) and Net result for the year (+€69,892)
- Tangible fixed assets -€63,217
down €63,217 (-9.6%), from €659,191 to €595,974
of which Furniture and vehicles: -€38,745
- Receivables within one year +€30,038
up €30,038 (+8.2%), from €368,107 to €398,145
of which Trade receivables: +€23,689
- Trade debts +€71,101
up €71,101 (+206.2%), from €34,483 to €105,584
- Reserves +€69,892
up €69,892 (+12.4%), from €562,708 to €632,600
of which Distributable reserves: +€82,252
- Debts after one year -€32,383
down €32,383 (-16.3%), from €198,698 to €166,315
of which Other amounts payable: -€19,620
- Tax, wage and social debts -€29,777
down €29,777 (-43.8%), from €67,964 to €38,186
of which Remuneration and social security: -€31,582
- Provisions -€14,152
down €14,152 (-33.2%), from €42,622 to €28,470
of which Provisions for liabilities and charges: -€10,032
- Staff costs -€223,235
down €223,235 (-45.8%), from €487,622 to €264,387
- Gross operating margin -€159,926
down €159,926 (-27.0%), from €592,145 to €432,219
- Taxes +€24,148
up €24,148 (+267.4%), from €9,030 to €33,178
- Depreciation -€23,851
down €23,851 (-26.6%), from €89,658 to €65,807
- Financial income -€14,495
down €14,495 (-85.7%), from €16,920 to €2,425
of which Non-recurring financial income: -€12,397
From the 31-03-2025 result to the 31-12-2025 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 31-03-2025 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-03-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,275,846 | €1,341,850 | +€66,004 | +5.2% |
| Fixed assets | 21/28 | €704,601 | €641,384 | -€63,217 | -9.0% |
| Tangible fixed assets | 22/27 | €659,191 | €595,974 | -€63,217 | -9.6% |
| Land and buildings | 22 | €540,828 | €519,583 | -€21,245 | -3.9% |
| Plant, machinery and equipment | 23 | €8,856 | €5,765 | -€3,091 | -34.9% |
| Furniture and vehicles | 24 | €108,961 | €70,216 | -€38,745 | -35.6% |
| Other tangible fixed assets | 26 | €546 | €409 | -€136 | -25.0% |
| Financial fixed assets | 28 | €45,410 | €45,410 | = | 0.0% |
| Current assets | 29/58 | €571,245 | €700,466 | +€129,221 | +22.6% |
| Stocks and contracts in progress | 3 | €32,741 | €45,648 | +€12,907 | +39.4% |
| Stocks | 30/36 | €32,741 | €45,648 | +€12,907 | +39.4% |
| Amounts receivable within one year | 40/41 | €368,107 | €398,145 | +€30,038 | +8.2% |
| Trade receivables | 40 | €342,756 | €366,444 | +€23,689 | +6.9% |
| Other amounts receivable | 41 | €25,351 | €31,700 | +€6,349 | +25.0% |
| Current investments | 50/53 | €111 | €111 | +€1 | +0.5% |
| Cash at bank and in hand | 54/58 | €157,384 | €239,718 | +€82,334 | +52.3% |
| Deferred charges and accrued income | 490/1 | €12,902 | €16,844 | +€3,942 | +30.6% |
| Total equity and liabilities | 10/49 | €1,275,846 | €1,341,850 | +€66,004 | +5.2% |
| Equity | 10/15 | €862,030 | €931,923 | +€69,892 | +8.1% |
| Contributions | 10/11 | €119,379 | €119,379 | = | 0.0% |
| Reserves | 13 | €562,708 | €632,600 | +€69,892 | +12.4% |
| Tax-exempt reserves | 132 | €97,770 | €85,410 | -€12,360 | -12.6% |
| Distributable reserves | 133 | €464,938 | €547,190 | +€82,252 | +17.7% |
| Profit (loss) carried forward | 14 | €179,944 | €179,944 | = | 0.0% |
| Provisions and deferred taxes | 16 | €42,622 | €28,470 | -€14,152 | -33.2% |
| Provisions for liabilities and charges | 160/5 | €10,032 | - | -€10,032 | |
| Other liabilities and charges | 164/5 | €10,032 | - | -€10,032 | |
| Deferred taxes | 168 | €32,590 | €28,470 | -€4,120 | -12.6% |
| Amounts payable | 17/49 | €371,194 | €381,457 | +€10,263 | +2.8% |
| Amounts payable after more than one year | 17 | €198,698 | €166,315 | -€32,383 | -16.3% |
| Financial debts | 170/4 | €21,324 | €8,561 | -€12,762 | -59.9% |
| Other amounts payable | 178/9 | €177,374 | €157,754 | -€19,620 | -11.1% |
| Amounts payable within one year | 42/48 | €166,740 | €209,954 | +€43,214 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €64,294 | €66,184 | +€1,890 | +2.9% |
| Trade debts | 44 | €34,483 | €105,584 | +€71,101 | +206.2% |
| Suppliers | 440/4 | €34,483 | €105,584 | +€71,101 | +206.2% |
| Taxes, remuneration and social security | 45 | €67,964 | €38,186 | -€29,777 | -43.8% |
| Taxes | 450/3 | €34,246 | €36,051 | +€1,805 | +5.3% |
| Remuneration and social security | 454/9 | €33,718 | €2,135 | -€31,582 | -93.7% |
| Accrued charges and deferred income | 492/3 | €5,756 | €5,188 | -€568 | -9.9% |
| Non-recurring operating income | 76A | €4,968 | - | -€4,968 | |
| Remuneration, social security and pensions | 62 | €487,622 | €264,387 | -€223,235 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,658 | €65,807 | -€23,851 | -26.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€10,032 | -€10,032 | |
| Other operating charges | 640/8 | €3,047 | €5,127 | +€2,081 | +68.3% |
| Non-recurring operating charges | 66A | €895 | €167 | -€728 | -81.4% |
| Gross operating margin | 9900 | €592,145 | €432,219 | -€159,926 | -27.0% |
| Operating profit (loss) | 9901 | €10,923 | €106,762 | +€95,839 | +877.4% |
| Financial income | 75/76B | €16,920 | €2,425 | -€14,495 | -85.7% |
| Recurring financial income | 75 | €4,523 | €2,425 | -€2,098 | -46.4% |
| Non-recurring financial income | 76B | €12,397 | - | -€12,397 | |
| Financial charges | 65/66B | €16,179 | €10,236 | -€5,943 | -36.7% |
| Recurring financial charges | 65 | €16,179 | €10,236 | -€5,943 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €11,663 | €98,951 | +€87,287 | +748.4% |
| Transfer from deferred taxes | 780 | €5,807 | €4,120 | -€1,687 | -29.0% |
| Income taxes | 67/77 | €9,030 | €33,178 | +€24,148 | +267.4% |
| Profit (loss) for the period | 9904 | €8,440 | €69,892 | +€61,452 | +728.1% |
| Transfer from tax-exempt reserves | 789 | €17,420 | €12,360 | -€5,061 | -29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,861 | €82,252 | +€56,392 | +218.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.