SIMCO: 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.
SIMCO
Largest movements
- Cash -€525,992
down €525,992 (-50.4%), from €1.0m to €517,900
mainly Current investments (-€509,318) and Debts after one year (-€59,278)
- Current investments +€509,318
up €509,318 (+48.5%), from €1.1m to €1.6m
- Tangible fixed assets -€46,829
down €46,829 (-5.1%), from €916,806 to €869,977
of which Land and buildings: -€46,286
- Debts after one year -€59,278
down €59,278 (-15.8%), from €374,998 to €315,721
- Gross operating margin -€86,753
down €86,753 (-52.5%), from €165,144 to €78,391
- Taxes -€22,730
down €22,730 (-74.3%), from €30,592 to €7,862
- Financial income +€5,002
up €5,002 (+14.2%), from €35,321 to €40,323
of which Financial income: +€4,918
- Depreciation -€3,294
down €3,294 (-6.8%), from €48,691 to €45,397
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 | €3,010,963 | €2,955,549 | -€55,413 | -1.8% |
| Fixed assets | 21/28 | €917,070 | €870,241 | -€46,829 | -5.1% |
| Tangible fixed assets | 22/27 | €916,806 | €869,977 | -€46,829 | -5.1% |
| Land and buildings | 22 | €915,285 | €868,999 | -€46,286 | -5.1% |
| Plant, machinery and equipment | 23 | €1,521 | €979 | -€543 | -35.7% |
| Financial fixed assets | 28 | €264 | €264 | = | 0.0% |
| Current assets | 29/58 | €2,093,892 | €2,085,308 | -€8,584 | -0.4% |
| Amounts receivable within one year | 40/41 | - | €5,827 | +€5,827 | |
| Other amounts receivable | 41 | - | €5,827 | +€5,827 | |
| Current investments | 50/53 | €1,050,000 | €1,559,318 | +€509,318 | +48.5% |
| Cash at bank and in hand | 54/58 | €1,043,892 | €517,900 | -€525,992 | -50.4% |
| Deferred charges and accrued income | 490/1 | - | €2,262 | +€2,262 | |
| Total equity and liabilities | 10/49 | €3,010,963 | €2,955,549 | -€55,413 | -1.8% |
| Equity | 10/15 | €2,539,856 | €2,556,971 | +€17,115 | +0.7% |
| Contributions | 10/11 | €2,192,500 | €2,192,500 | = | 0.0% |
| Capital | 10 | €2,192,500 | €2,192,500 | = | 0.0% |
| Issued capital | 100 | €2,192,500 | €2,192,500 | = | 0.0% |
| Reserves | 13 | €347,356 | €364,471 | +€17,115 | +4.9% |
| Non-distributable reserves | 130/1 | €51,659 | €52,596 | +€937 | +1.8% |
| Legal reserve | 130 | €51,659 | €52,596 | +€937 | +1.8% |
| Distributable reserves | 133 | €295,696 | €311,875 | +€16,179 | +5.5% |
| Amounts payable | 17/49 | €471,107 | €398,578 | -€72,529 | -15.4% |
| Amounts payable after more than one year | 17 | €374,998 | €315,721 | -€59,278 | -15.8% |
| Financial debts | 170/4 | €374,998 | €315,721 | -€59,278 | -15.8% |
| Amounts payable within one year | 42/48 | €86,392 | €72,273 | -€14,119 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €66,155 | €59,278 | -€6,878 | -10.4% |
| Trade debts | 44 | €111 | €11,377 | +€11,267 | +10179.5% |
| Suppliers | 440/4 | €111 | €11,377 | +€11,267 | +10179.5% |
| Taxes, remuneration and social security | 45 | €20,126 | €1,618 | -€18,508 | -92.0% |
| Taxes | 450/3 | €20,126 | €1,618 | -€18,508 | -92.0% |
| Accrued charges and deferred income | 492/3 | €9,717 | €10,585 | +€868 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,691 | €45,397 | -€3,294 | -6.8% |
| Other operating charges | 640/8 | €26,398 | €27,993 | +€1,594 | +6.0% |
| Gross operating margin | 9900 | €165,144 | €78,391 | -€86,753 | -52.5% |
| Operating profit (loss) | 9901 | €90,055 | €5,001 | -€85,054 | -94.4% |
| Financial income | 75/76B | €35,321 | €40,323 | +€5,002 | +14.2% |
| Recurring financial income | 75 | €35,321 | €40,239 | +€4,918 | +13.9% |
| Non-recurring financial income | 76B | - | €84 | +€84 | |
| Financial charges | 65/66B | €21,704 | €20,347 | -€1,358 | -6.3% |
| Recurring financial charges | 65 | €21,704 | €18,915 | -€2,789 | -12.9% |
| Non-recurring financial charges | 66B | - | €1,432 | +€1,432 | |
| Profit (loss) for the period before taxes | 9903 | €103,672 | €24,978 | -€78,694 | -75.9% |
| Income taxes | 67/77 | €30,592 | €7,862 | -€22,730 | -74.3% |
| Profit (loss) for the period | 9904 | €73,079 | €17,115 | -€55,964 | -76.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,079 | €17,115 | -€55,964 | -76.6% |
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 28 September 2026 via checked.be.