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
- Tangible fixed assets +€29,984
up €29,984 (+30.9%), from €96,913 to €126,897
of which Leasing and similar rights: +€39,472
- Receivables within one year +€26,196
up €26,196 (+15.6%), from €167,860 to €194,057
of which Trade receivables: +€15,753
- Cash +€11,381
up €11,381 (+13.1%), from €86,655 to €98,036
mainly Net result for the year (+€47,306) and Depreciation (+€37,347)
- Deferred charges and accrued income +€6,887
up €6,887 (+275.5%), from €2,500 to €9,387
- Reserves +€47,306
up €47,306 (+59.9%), from €78,943 to €126,249
of which Distributable reserves: +€47,306
- Trade debts +€24,568
up €24,568 (+30.5%), from €80,604 to €105,172
- Current portion of long-term debt +€9,841
up €9,841 (+54.6%), from €18,015 to €27,856
- Debts after one year -€6,427
down €6,427 (-7.4%), from €86,421 to €79,994
of which Other amounts payable: -€18,778
- Staff costs -€15,413
down €15,413 (-5.1%), from €303,114 to €287,701
- Taxes +€5,344
up €5,344 (+24.8%), from €21,554 to €26,898
- Other operating charges +€4,715
up €4,715 (+42.6%), from €11,065 to €15,781
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 | €501,601 | €573,214 | +€71,613 | +14.3% |
| Fixed assets | 21/28 | €96,923 | €126,907 | +€29,984 | +30.9% |
| Tangible fixed assets | 22/27 | €96,913 | €126,897 | +€29,984 | +30.9% |
| Plant, machinery and equipment | 23 | €72,907 | €54,237 | -€18,671 | -25.6% |
| Furniture and vehicles | 24 | €7,177 | €3,973 | -€3,204 | -44.6% |
| Leasing and similar rights | 25 | - | €39,472 | +€39,472 | |
| Other tangible fixed assets | 26 | €16,829 | €29,216 | +€12,387 | +73.6% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €404,678 | €446,307 | +€41,630 | +10.3% |
| Stocks and contracts in progress | 3 | €147,663 | €144,827 | -€2,836 | -1.9% |
| Stocks | 30/36 | €147,663 | €144,827 | -€2,836 | -1.9% |
| Amounts receivable within one year | 40/41 | €167,860 | €194,057 | +€26,196 | +15.6% |
| Trade receivables | 40 | €165,469 | €181,222 | +€15,753 | +9.5% |
| Other amounts receivable | 41 | €2,391 | €12,834 | +€10,443 | +436.8% |
| Cash at bank and in hand | 54/58 | €86,655 | €98,036 | +€11,381 | +13.1% |
| Deferred charges and accrued income | 490/1 | €2,500 | €9,387 | +€6,887 | +275.5% |
| Total equity and liabilities | 10/49 | €501,601 | €573,214 | +€71,613 | +14.3% |
| Equity | 10/15 | €253,943 | €301,249 | +€47,306 | +18.6% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €78,943 | €126,249 | +€47,306 | +59.9% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Distributable reserves | 133 | €61,443 | €108,749 | +€47,306 | +77.0% |
| Amounts payable | 17/49 | €247,658 | €271,965 | +€24,307 | +9.8% |
| Amounts payable after more than one year | 17 | €86,421 | €79,994 | -€6,427 | -7.4% |
| Financial debts | 170/4 | €48,399 | €60,751 | +€12,352 | +25.5% |
| Other amounts payable | 178/9 | €38,022 | €19,243 | -€18,778 | -49.4% |
| Amounts payable within one year | 42/48 | €161,237 | €191,971 | +€30,734 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €18,015 | €27,856 | +€9,841 | +54.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €80,604 | €105,172 | +€24,568 | +30.5% |
| Suppliers | 440/4 | €80,604 | €105,172 | +€24,568 | +30.5% |
| Taxes, remuneration and social security | 45 | €37,515 | €32,559 | -€4,956 | -13.2% |
| Taxes | 450/3 | €6,330 | €8,518 | +€2,189 | +34.6% |
| Remuneration and social security | 454/9 | €31,185 | €24,041 | -€7,144 | -22.9% |
| Other amounts payable | 47/48 | €25,103 | €26,383 | +€1,280 | +5.1% |
| Non-recurring operating income | 76A | - | €6,541 | +€6,541 | |
| Remuneration, social security and pensions | 62 | €303,114 | €287,701 | -€15,413 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,676 | €37,347 | +€3,671 | +10.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€503 | -€503 | |
| Other operating charges | 640/8 | €11,065 | €15,781 | +€4,715 | +42.6% |
| Gross operating margin | 9900 | €428,489 | €426,899 | -€1,590 | -0.4% |
| Operating profit (loss) | 9901 | €80,633 | €86,572 | +€5,939 | +7.4% |
| Financial income | 75/76B | €1,646 | €703 | -€942 | -57.3% |
| Recurring financial income | 75 | €1,646 | €703 | -€942 | -57.3% |
| Financial charges | 65/66B | €13,961 | €13,071 | -€891 | -6.4% |
| Recurring financial charges | 65 | €13,961 | €13,071 | -€891 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €68,317 | €74,205 | +€5,887 | +8.6% |
| Income taxes | 67/77 | €21,554 | €26,898 | +€5,344 | +24.8% |
| Profit (loss) for the period | 9904 | €46,763 | €47,306 | +€543 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,763 | €47,306 | +€543 | +1.2% |
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 5 October 2026 via checked.be.