SimCo: what changed
What changed
SimCo
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€32,292
2024 · €32,173+€119
Equity
€150,098
2024 · €163,647-€13,549
Cash
€6,499
2024 · €5,246+€1,253
Balance sheet total
€600,622
2024 · €362,611+€238,011
Largest movements
Assets
- Financial fixed assets +€270,000
up €270,000 (+119%), from €227,796 to €497,796
- Receivables within one year -€17,220
down €17,220 (-30.0%), from €57,315 to €40,095
of which Other amounts receivable: -€18,487
- Tangible fixed assets -€15,006
down €15,006 (-22.7%), from €66,015 to €51,008
of which Plant, machinery and equipment: -€10,095
Equity and liabilities
- Debts after one year +€226,856
up €226,856 (+173%), from €131,120 to €357,976
of which Other amounts payable: +€135,000
- Current portion of long-term debt +€18,288
up €18,288 (+95.8%), from €19,082 to €37,370
- Reserves -€13,549
down €13,549 (-9.3%), from €145,097 to €131,548
Income statement
- Financial charges +€7,438
up €7,438 (+93.4%), from €7,961 to €15,399
- Gross operating margin +€5,578
up €5,578 (+14.6%), from €38,232 to €43,810
- Financial income +€2,000
up €2,000 (+8.3%), from €24,000 to €26,000
- Taxes -€1,467
down €1,467 (-18.9%), from €7,765 to €6,297
- Depreciation +€1,448
up €1,448 (+10.7%), from €13,558 to €15,006
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€32,173
Gross operating margin
+€5,578
Depreciation
-€1,448
Other operating charges
-€41
Financial income
+€2,000
Financial charges
-€7,438
Taxes
+€1,467
Result 2025
€32,292
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€72,802
Investment
-€270,000
Financing
+€198,451
Cash 2024
€5,246
From operations (derived)
+€72,802
Net result for the year
+€32,292
Depreciation
+€15,006
Receivables within one year
+€17,220
Deferred charges and accrued income
+€1,016
Trade debts
-€1,478
Tax, wage and social debts
+€1,778
Other debts
+€5,747
Accrued charges and deferred income
+€1,221
Investment (derived)
-€270,000
Investment in fixed assets (net)
-€270,000
Financing
+€198,451
Debts after one year
+€226,856
Current portion of long-term debt
+€18,288
Short-term financial debts
-€853
Contributions, distributions and other
-€45,841
Cash 2025
€6,499
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €362,611 | €600,622 | +€238,011 | +65.6% |
| Fixed assets | 21/28 | €293,810 | €548,804 | +€254,994 | +86.8% |
| Tangible fixed assets | 22/27 | €66,015 | €51,008 | -€15,006 | -22.7% |
| Land and buildings | 22 | €25,720 | €24,340 | -€1,380 | -5.4% |
| Plant, machinery and equipment | 23 | €30,979 | €20,885 | -€10,095 | -32.6% |
| Furniture and vehicles | 24 | €9,315 | €5,784 | -€3,531 | -37.9% |
| Financial fixed assets | 28 | €227,796 | €497,796 | +€270,000 | +119% |
| Current assets | 29/58 | €68,801 | €51,818 | -€16,983 | -24.7% |
| Amounts receivable within one year | 40/41 | €57,315 | €40,095 | -€17,220 | -30.0% |
| Trade receivables | 40 | €10,712 | €11,979 | +€1,267 | +11.8% |
| Other amounts receivable | 41 | €46,603 | €28,116 | -€18,487 | -39.7% |
| Cash at bank and in hand | 54/58 | €5,246 | €6,499 | +€1,253 | +23.9% |
| Deferred charges and accrued income | 490/1 | €6,240 | €5,225 | -€1,016 | -16.3% |
| Total equity and liabilities | 10/49 | €362,611 | €600,622 | +€238,011 | +65.6% |
| Equity | 10/15 | €163,647 | €150,098 | -€13,549 | -8.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €145,097 | €131,548 | -€13,549 | -9.3% |
| Distributable reserves | 133 | €145,097 | €131,548 | -€13,549 | -9.3% |
| Amounts payable | 17/49 | €198,964 | €450,524 | +€251,560 | +126% |
| Amounts payable after more than one year | 17 | €131,120 | €357,976 | +€226,856 | +173% |
| Financial debts | 170/4 | €131,120 | €222,976 | +€91,856 | +70.1% |
| Other amounts payable | 178/9 | - | €135,000 | +€135,000 | |
| Amounts payable within one year | 42/48 | €64,488 | €87,972 | +€23,483 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | €19,082 | €37,370 | +€18,288 | +95.8% |
| Financial debts | 43 | €3,383 | €2,530 | -€853 | -25.2% |
| Credit institutions | 430/8 | €3,383 | €2,530 | -€853 | -25.2% |
| Trade debts | 44 | €1,618 | €141 | -€1,478 | -91.3% |
| Suppliers | 440/4 | €1,618 | €141 | -€1,478 | -91.3% |
| Taxes, remuneration and social security | 45 | €3,027 | €4,805 | +€1,778 | +58.7% |
| Taxes | 450/3 | €3,027 | €4,805 | +€1,778 | +58.7% |
| Other amounts payable | 47/48 | €37,378 | €43,126 | +€5,747 | +15.4% |
| Accrued charges and deferred income | 492/3 | €3,356 | €4,577 | +€1,221 | +36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,558 | €15,006 | +€1,448 | +10.7% |
| Other operating charges | 640/8 | €775 | €816 | +€41 | +5.3% |
| Gross operating margin | 9900 | €38,232 | €43,810 | +€5,578 | +14.6% |
| Operating profit (loss) | 9901 | €23,899 | €27,988 | +€4,089 | +17.1% |
| Financial income | 75/76B | €24,000 | €26,000 | +€2,000 | +8.3% |
| Recurring financial income | 75 | €24,000 | €26,000 | +€2,000 | +8.3% |
| Financial charges | 65/66B | €7,961 | €15,399 | +€7,438 | +93.4% |
| Recurring financial charges | 65 | €7,961 | €15,399 | +€7,438 | +93.4% |
| Profit (loss) for the period before taxes | 9903 | €39,938 | €38,589 | -€1,349 | -3.4% |
| Income taxes | 67/77 | €7,765 | €6,297 | -€1,467 | -18.9% |
| Profit (loss) for the period | 9904 | €32,173 | €32,292 | +€119 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,173 | €32,292 | +€119 | +0.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.