SIMARA: 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.
SIMARA
Largest movements
- Financial fixed assets +€500,000
new in 2025: €500,000
- Tangible fixed assets +€409,391
up €409,391 (+36.9%), from €1.1m to €1.5m
of which Land and buildings: +€407,745
- Receivables within one year +€202,981
up €202,981 (+694188.5%), from €29 to €203,010
- Cash -€185,050
down €185,050 (-82.9%), from €223,147 to €38,098
mainly Investment in fixed assets (net) (-€967,293) and Receivables within one year (-€202,981)
- Debts after one year +€832,242
up €832,242 (+23778.3%), from €3,500 to €835,742
of which Financial debts: +€832,242
- Current portion of long-term debt +€76,288
new in 2025: €76,288
- Reserves -€49,456
down €49,456 (-8.4%), from €591,374 to €541,917
of which Tax-exempt reserves: -€49,456
- Profit (loss) carried forward +€49,005
up €49,005 (+88.2%), from €55,585 to €104,591
- Gross operating margin +€52,477
up €52,477 (+141.3%), from €37,136 to €89,612
- Financial charges +€22,828
up €22,828 (+34841.7%), from €66 to €22,894
- Depreciation +€20,415
up €20,415 (+54.5%), from €37,487 to €57,902
- Other operating charges +€3,025
up €3,025 (+28.9%), from €10,471 to €13,496
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 | €1,332,861 | €2,260,230 | +€927,369 | +69.6% |
| Fixed assets | 21/28 | €1,108,074 | €2,017,465 | +€909,391 | +82.1% |
| Tangible fixed assets | 22/27 | €1,108,074 | €1,517,465 | +€409,391 | +36.9% |
| Land and buildings | 22 | €1,086,364 | €1,494,109 | +€407,745 | +37.5% |
| Plant, machinery and equipment | 23 | €21,710 | €23,356 | +€1,645 | +7.6% |
| Financial fixed assets | 28 | - | €500,000 | +€500,000 | |
| Current assets | 29/58 | €224,786 | €242,765 | +€17,978 | +8.0% |
| Amounts receivable within one year | 40/41 | €29 | €203,010 | +€202,981 | +694188.5% |
| Other amounts receivable | 41 | €29 | €203,010 | +€202,981 | +694188.5% |
| Cash at bank and in hand | 54/58 | €223,147 | €38,098 | -€185,050 | -82.9% |
| Deferred charges and accrued income | 490/1 | €1,610 | €1,657 | +€48 | +3.0% |
| Total equity and liabilities | 10/49 | €1,332,861 | €2,260,230 | +€927,369 | +69.6% |
| Equity | 10/15 | €732,959 | €732,508 | -€451 | -0.1% |
| Contributions | 10/11 | €86,000 | €86,000 | = | 0.0% |
| Capital | 10 | €86,000 | €86,000 | = | 0.0% |
| Issued capital | 100 | €86,000 | €86,000 | = | 0.0% |
| Reserves | 13 | €591,374 | €541,917 | -€49,456 | -8.4% |
| Non-distributable reserves | 130/1 | €8,600 | €8,600 | = | 0.0% |
| Legal reserve | 130 | €8,600 | €8,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €553,202 | €503,746 | -€49,456 | -8.9% |
| Distributable reserves | 133 | €29,572 | €29,572 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,585 | €104,591 | +€49,005 | +88.2% |
| Provisions and deferred taxes | 16 | €184,401 | €180,336 | -€4,065 | -2.2% |
| Deferred taxes | 168 | €184,401 | €180,336 | -€4,065 | -2.2% |
| Amounts payable | 17/49 | €415,501 | €1,347,386 | +€931,885 | +224.3% |
| Amounts payable after more than one year | 17 | €3,500 | €835,742 | +€832,242 | +23778.3% |
| Financial debts | 170/4 | - | €832,242 | +€832,242 | |
| Other amounts payable | 178/9 | €3,500 | €3,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €412,001 | €509,719 | +€97,718 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | - | €76,288 | +€76,288 | |
| Trade debts | 44 | €1,600 | €2,351 | +€751 | +47.0% |
| Suppliers | 440/4 | €1,600 | €2,351 | +€751 | +47.0% |
| Other amounts payable | 47/48 | €410,401 | €431,080 | +€20,679 | +5.0% |
| Accrued charges and deferred income | 492/3 | - | €1,925 | +€1,925 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,487 | €57,902 | +€20,415 | +54.5% |
| Other operating charges | 640/8 | €10,471 | €13,496 | +€3,025 | +28.9% |
| Gross operating margin | 9900 | €37,136 | €89,612 | +€52,477 | +141.3% |
| Operating profit (loss) | 9901 | -€10,822 | €18,215 | +€29,037 | |
| Financial income | 75/76B | €33 | €200 | +€167 | +503.1% |
| Recurring financial income | 75 | €33 | €200 | +€167 | +503.1% |
| Financial charges | 65/66B | €66 | €22,894 | +€22,828 | +34841.7% |
| Recurring financial charges | 65 | €66 | €22,894 | +€22,828 | +34841.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,855 | -€4,479 | +€6,375 | +58.7% |
| Transfer from deferred taxes | 780 | €1,404 | €8,489 | +€7,085 | +504.7% |
| Income taxes | 67/77 | €0 | €36 | +€36 | |
| Profit (loss) for the period | 9904 | -€9,451 | €3,973 | +€13,424 | |
| Transfer from tax-exempt reserves | 789 | €4,211 | €45,032 | +€40,821 | +969.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,240 | €49,005 | +€54,245 |
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 3 October 2026 via checked.be.