Simen: 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
Simen
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€334,399
2024 · €303,200+€31,200
Equity
€3.0m
2024 · €3.0m-€5,638
Cash
€398,008
2024 · €317,154+€80,854
Balance sheet total
€3.8m
2024 · €3.9m-€64,564
Largest movements
Assets
- Tangible fixed assets -€120,378
down €120,378 (-3.4%), from €3.5m to €3.4m
of which Land and buildings: -€120,070
- Cash +€80,854
up €80,854 (+25.5%), from €317,154 to €398,008
mainly Net result for the year (+€334,399) and Depreciation (+€178,300)
Equity and liabilities
- Debts after one year -€71,017
down €71,017 (-20.5%), from €347,172 to €276,154
Income statement
- Gross operating margin +€52,716
up €52,716 (+7.5%), from €707,369 to €760,085
- Taxes +€10,329
up €10,329 (+10.5%), from €98,384 to €108,712
- Other operating charges +€7,967
up €7,967 (+6.5%), from €123,182 to €131,150
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
€303,200
Gross operating margin
+€52,716
Depreciation
-€4,137
Other operating charges
-€7,967
Financial income
+€986
Financial charges
-€69
Taxes
-€10,329
Result 2025
€334,399
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
+€539,916
Investment
-€57,922
Financing
-€401,141
Cash 2024
€317,154
From operations (derived)
+€539,916
Net result for the year
+€334,399
Depreciation
+€178,300
Receivables within one year
+€10,384
Deferred charges and accrued income
+€14,656
Provisions
-€4,112
Trade debts
+€1,600
Tax, wage and social debts
+€2,997
Other debts
+€8,294
Accrued charges and deferred income
-€6,601
Investment (derived)
-€57,922
Investment in fixed assets (net)
-€57,922
Financing
-€401,141
Debts after one year
-€71,017
Current portion of long-term debt
+€9,914
Contributions, distributions and other
-€340,038
Cash 2025
€398,008
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,878,630 | €3,814,066 | -€64,564 | -1.7% |
| Fixed assets | 21/28 | €3,509,570 | €3,389,192 | -€120,378 | -3.4% |
| Tangible fixed assets | 22/27 | €3,509,415 | €3,389,037 | -€120,378 | -3.4% |
| Land and buildings | 22 | €3,503,558 | €3,383,488 | -€120,070 | -3.4% |
| Furniture and vehicles | 24 | €5,857 | €5,549 | -€308 | -5.3% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €369,060 | €424,874 | +€55,814 | +15.1% |
| Amounts receivable within one year | 40/41 | €26,702 | €16,319 | -€10,384 | -38.9% |
| Trade receivables | 40 | - | €28 | +€28 | |
| Other amounts receivable | 41 | €26,702 | €16,290 | -€10,412 | -39.0% |
| Cash at bank and in hand | 54/58 | €317,154 | €398,008 | +€80,854 | +25.5% |
| Deferred charges and accrued income | 490/1 | €25,204 | €10,547 | -€14,656 | -58.2% |
| Total equity and liabilities | 10/49 | €3,878,630 | €3,814,066 | -€64,564 | -1.7% |
| Equity | 10/15 | €3,036,749 | €3,031,111 | -€5,638 | -0.2% |
| Contributions | 10/11 | €158,795 | €158,795 | = | 0.0% |
| Capital | 10 | - | €158,795 | +€158,795 | |
| Issued capital | 100 | - | €158,795 | +€158,795 | |
| Outside capital | 11 | €158,795 | - | -€158,795 | |
| Other | 1109/19 | €158,795 | - | -€158,795 | |
| Reserves | 13 | €2,877,064 | €2,872,040 | -€5,024 | -0.2% |
| Non-distributable reserves | 130/1 | €15,880 | €15,880 | = | 0.0% |
| Legal reserve | 130 | - | €15,880 | +€15,880 | |
| Reserves not available under the articles | 1311 | €15,880 | - | -€15,880 | |
| Tax-exempt reserves | 132 | €95,085 | €87,098 | -€7,987 | -8.4% |
| Distributable reserves | 133 | €2,766,099 | €2,769,062 | +€2,962 | +0.1% |
| Profit (loss) carried forward | 14 | €890 | €276 | -€614 | -69.0% |
| Provisions and deferred taxes | 16 | €48,961 | €44,849 | -€4,112 | -8.4% |
| Deferred taxes | 168 | €48,961 | €44,849 | -€4,112 | -8.4% |
| Amounts payable | 17/49 | €792,920 | €738,106 | -€54,814 | -6.9% |
| Amounts payable after more than one year | 17 | €347,172 | €276,154 | -€71,017 | -20.5% |
| Financial debts | 170/4 | €347,172 | €276,154 | -€71,017 | -20.5% |
| Amounts payable within one year | 42/48 | €439,148 | €461,952 | +€22,804 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €104,229 | €114,143 | +€9,914 | +9.5% |
| Trade debts | 44 | €3,175 | €4,775 | +€1,600 | +50.4% |
| Suppliers | 440/4 | €3,175 | €4,775 | +€1,600 | +50.4% |
| Taxes, remuneration and social security | 45 | - | €2,997 | +€2,997 | |
| Remuneration and social security | 454/9 | - | €2,997 | +€2,997 | |
| Other amounts payable | 47/48 | €331,744 | €340,038 | +€8,294 | +2.5% |
| Accrued charges and deferred income | 492/3 | €6,601 | - | -€6,601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,163 | €178,300 | +€4,137 | +2.4% |
| Other operating charges | 640/8 | €123,182 | €131,150 | +€7,967 | +6.5% |
| Gross operating margin | 9900 | €707,369 | €760,085 | +€52,716 | +7.5% |
| Operating profit (loss) | 9901 | €410,024 | €450,636 | +€40,612 | +9.9% |
| Financial income | 75/76B | €415 | €1,401 | +€986 | +237.4% |
| Recurring financial income | 75 | €415 | €1,401 | +€986 | +237.4% |
| Financial charges | 65/66B | €12,968 | €13,037 | +€69 | +0.5% |
| Recurring financial charges | 65 | €12,968 | €13,037 | +€69 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €397,471 | €438,999 | +€41,528 | +10.4% |
| Transfer from deferred taxes | 780 | €4,112 | €4,112 | = | 0.0% |
| Income taxes | 67/77 | €98,384 | €108,712 | +€10,329 | +10.5% |
| Profit (loss) for the period | 9904 | €303,200 | €334,399 | +€31,200 | +10.3% |
| Transfer from tax-exempt reserves | 789 | €7,987 | €7,987 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €311,186 | €342,386 | +€31,200 | +10.0% |
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 6 October 2026 via checked.be.