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.
What changed
SIMCO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€232,475
2024 · €53,179+€179,296
Equity
€1.7m
2024 · €618,645+€1.1m
Cash
€11,820
2024 · €2,694+€9,127
Balance sheet total
€2.8m
2024 · €1.7m+€1.1m
Largest movements
Assets
- Tangible fixed assets +€1.0m
up €1.0m (+387.4%), from €270,742 to €1.3m
Equity and liabilities
- Reserves +€1.1m
up €1.1m (+1793.6%), from €62,265 to €1.2m
of which Distributable reserves: +€1.1m
- Other debts -€114,485
down €114,485 (-33.7%), from €339,708 to €225,223
- Tax, wage and social debts +€34,861
up €34,861 (+3322.7%), from €1,049 to €35,910
of which Taxes: +€34,861
Income statement
- Gross operating margin +€253,846
up €253,846 (+275.0%), from €92,317 to €346,163
- Financial income -€76,697
down €76,697 (-76.3%), from €100,501 to €23,804
- Staff costs -€60,146
down €60,146 (-100.0%), from €60,146 to €0
- Taxes +€33,281
up €33,281 (+2120.1%), from €1,570 to €34,851
- Depreciation +€25,285
up €25,285 (+90.8%), from €27,835 to €53,119
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.
Result 2024
€53,179
Gross operating margin
+€253,846
Staff costs
+€60,146
Depreciation
-€25,285
Other operating charges
+€2,505
Financial income
-€76,697
Financial charges
-€1,938
Taxes
-€33,281
Result 2025
€232,475
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.
From operations
+€216,946
Investment
-€1.1m
Financing
+€894,043
Cash 2024
€2,694
From operations (derived)
+€216,946
Net result for the year
+€232,475
Depreciation
+€53,119
Receivables within one year
-€2,144
Deferred charges and accrued income
+€3,171
Trade debts
+€6,541
Tax, wage and social debts
+€34,861
Other debts
-€114,485
Accrued charges and deferred income
+€3,408
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€894,043
Contributions, distributions and other
+€894,043
Cash 2025
€11,820
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,734,482 | €2,791,325 | +€1.1m | +60.9% |
| Fixed assets | 21/28 | €973,336 | €2,022,079 | +€1.0m | +107.7% |
| Tangible fixed assets | 22/27 | €270,742 | €1,319,485 | +€1.0m | +387.4% |
| Land and buildings | 22 | €270,742 | €1,319,485 | +€1.0m | +387.4% |
| Financial fixed assets | 28 | €702,594 | €702,594 | = | 0.0% |
| Current assets | 29/58 | €761,147 | €769,246 | +€8,100 | +1.1% |
| Amounts receivable within one year | 40/41 | €731,485 | €733,629 | +€2,144 | +0.3% |
| Trade receivables | 40 | €0 | €28,176 | +€28,176 | |
| Other amounts receivable | 41 | €731,485 | €705,453 | -€26,032 | -3.6% |
| Cash at bank and in hand | 54/58 | €2,694 | €11,820 | +€9,127 | +338.8% |
| Deferred charges and accrued income | 490/1 | €26,968 | €23,797 | -€3,171 | -11.8% |
| Total equity and liabilities | 10/49 | €1,734,482 | €2,791,325 | +€1.1m | +60.9% |
| Equity | 10/15 | €618,645 | €1,745,163 | +€1.1m | +182.1% |
| Contributions | 10/11 | €556,380 | €566,106 | +€9,726 | +1.7% |
| Capital | 10 | €556,380 | €556,380 | = | 0.0% |
| Issued capital | 100 | €556,380 | €556,380 | = | 0.0% |
| Outside capital | 11 | - | €9,726 | +€9,726 | |
| Other | 1109/19 | - | €9,726 | +€9,726 | |
| Reserves | 13 | €62,265 | €1,179,057 | +€1.1m | +1793.6% |
| Non-distributable reserves | 130/1 | €55,638 | €62,687 | +€7,049 | +12.7% |
| Legal reserve | 130 | €55,638 | €55,638 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €7,049 | +€7,049 | |
| Tax-exempt reserves | 132 | €5,684 | €5,684 | = | 0.0% |
| Distributable reserves | 133 | €943 | €1,110,686 | +€1.1m | +117657.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,115,837 | €1,046,162 | -€69,675 | -6.2% |
| Amounts payable after more than one year | 17 | €741,000 | €741,000 | = | 0.0% |
| Financial debts | 170/4 | €741,000 | €741,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €345,566 | €272,483 | -€73,083 | -21.1% |
| Trade debts | 44 | €4,809 | €11,350 | +€6,541 | +136.0% |
| Suppliers | 440/4 | €4,809 | €11,350 | +€6,541 | +136.0% |
| Taxes, remuneration and social security | 45 | €1,049 | €35,910 | +€34,861 | +3322.7% |
| Taxes | 450/3 | €1,049 | €35,910 | +€34,861 | +3322.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €339,708 | €225,223 | -€114,485 | -33.7% |
| Accrued charges and deferred income | 492/3 | €29,271 | €32,679 | +€3,408 | +11.6% |
| Remuneration, social security and pensions | 62 | €60,146 | €0 | -€60,146 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,835 | €53,119 | +€25,285 | +90.8% |
| Other operating charges | 640/8 | €4,027 | €1,523 | -€2,505 | -62.2% |
| Gross operating margin | 9900 | €92,317 | €346,163 | +€253,846 | +275.0% |
| Operating profit (loss) | 9901 | €309 | €291,522 | +€291,212 | +94142.9% |
| Financial income | 75/76B | €100,501 | €23,804 | -€76,697 | -76.3% |
| Recurring financial income | 75 | €100,501 | €23,804 | -€76,697 | -76.3% |
| Financial charges | 65/66B | €46,063 | €48,000 | +€1,938 | +4.2% |
| Recurring financial charges | 65 | €46,063 | €48,000 | +€1,938 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €54,748 | €267,325 | +€212,577 | +388.3% |
| Income taxes | 67/77 | €1,570 | €34,851 | +€33,281 | +2120.1% |
| Profit (loss) for the period | 9904 | €53,179 | €232,475 | +€179,296 | +337.2% |
| Transfer to tax-exempt reserves | 689 | €5,684 | €0 | -€5,684 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,495 | €232,475 | +€184,980 | +389.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.