Simon Conseil: 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.
Simon Conseil
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+59.2%), from €2.2m to €3.5m
of which Land and buildings: +€1.2m
- Cash -€113,076
down €113,076 (-15.3%), from €739,741 to €626,665
mainly Investment in fixed assets (net) (-€1.4m) and Receivables within one year (-€50,976)
- Receivables within one year +€50,976
up €50,976 (+23.9%), from €213,178 to €264,154
of which Trade receivables: +€28,657
- Debts after one year +€1.1m
up €1.1m (+260.3%), from €434,890 to €1.6m
- Trade debts +€78,825
up €78,825 (+1878.6%), from €4,196 to €83,021
- Gross operating margin -€842,327
down €842,327 (-65.8%), from €1.3m to €437,538
- Financial charges -€80,189
down €80,189 (-72.6%), from €110,524 to €30,334
- Staff costs +€32,354
up €32,354 (+19.2%), from €168,758 to €201,112
- Depreciation -€28,678
down €28,678 (-21.4%), from €133,708 to €105,030
- Other operating charges -€13,013
down €13,013 (-10.6%), from €122,625 to €109,613
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 | €3,178,132 | €4,405,976 | +€1.2m | +38.6% |
| Fixed assets | 21/28 | €2,205,339 | €3,494,387 | +€1.3m | +58.5% |
| Tangible fixed assets | 22/27 | €2,178,574 | €3,467,321 | +€1.3m | +59.2% |
| Land and buildings | 22 | €2,001,753 | €3,184,190 | +€1.2m | +59.1% |
| Plant, machinery and equipment | 23 | €176,821 | €283,131 | +€106,310 | +60.1% |
| Financial fixed assets | 28 | €26,765 | €27,066 | +€301 | +1.1% |
| Current assets | 29/58 | €972,793 | €911,589 | -€61,204 | -6.3% |
| Amounts receivable within one year | 40/41 | €213,178 | €264,154 | +€50,976 | +23.9% |
| Trade receivables | 40 | €178,598 | €207,255 | +€28,657 | +16.0% |
| Other amounts receivable | 41 | €34,580 | €56,899 | +€22,319 | +64.5% |
| Cash at bank and in hand | 54/58 | €739,741 | €626,665 | -€113,076 | -15.3% |
| Deferred charges and accrued income | 490/1 | €19,874 | €20,770 | +€896 | +4.5% |
| Total equity and liabilities | 10/49 | €3,178,132 | €4,405,976 | +€1.2m | +38.6% |
| Equity | 10/15 | €2,070,870 | €2,065,371 | -€5,498 | -0.3% |
| Contributions | 10/11 | €61,997 | €61,997 | = | 0.0% |
| Capital | 10 | €61,997 | €61,997 | = | 0.0% |
| Issued capital | 100 | €61,997 | €61,997 | = | 0.0% |
| Revaluation surpluses | 12 | €18,335 | €18,335 | = | 0.0% |
| Reserves | 13 | €1,323,136 | €1,319,469 | -€3,668 | -0.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €658,893 | €646,579 | -€12,314 | -1.9% |
| Distributable reserves | 133 | €658,043 | €666,690 | +€8,646 | +1.3% |
| Profit (loss) carried forward | 14 | €628,344 | €628,344 | = | 0.0% |
| Investment grants | 15 | €39,056 | €37,226 | -€1,831 | -4.7% |
| Provisions and deferred taxes | 16 | €150,661 | €147,582 | -€3,078 | -2.0% |
| Deferred taxes | 168 | €150,661 | €147,582 | -€3,078 | -2.0% |
| Amounts payable | 17/49 | €956,602 | €2,193,022 | +€1.2m | +129.3% |
| Amounts payable after more than one year | 17 | €434,890 | €1,566,768 | +€1.1m | +260.3% |
| Financial debts | 170/4 | €434,890 | €1,566,768 | +€1.1m | +260.3% |
| Amounts payable within one year | 42/48 | €491,555 | €588,684 | +€97,129 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €92,066 | €136,122 | +€44,056 | +47.9% |
| Trade debts | 44 | €4,196 | €83,021 | +€78,825 | +1878.6% |
| Suppliers | 440/4 | €4,196 | €83,021 | +€78,825 | +1878.6% |
| Taxes, remuneration and social security | 45 | €80,373 | €60,326 | -€20,048 | -24.9% |
| Taxes | 450/3 | €51,873 | €24,090 | -€27,783 | -53.6% |
| Remuneration and social security | 454/9 | €28,501 | €36,236 | +€7,735 | +27.1% |
| Other amounts payable | 47/48 | €314,920 | €309,216 | -€5,704 | -1.8% |
| Accrued charges and deferred income | 492/3 | €30,157 | €37,570 | +€7,413 | +24.6% |
| Remuneration, social security and pensions | 62 | €168,758 | €201,112 | +€32,354 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,708 | €105,030 | -€28,678 | -21.4% |
| Other operating charges | 640/8 | €122,625 | €109,613 | -€13,013 | -10.6% |
| Gross operating margin | 9900 | €1,279,866 | €437,538 | -€842,327 | -65.8% |
| Operating profit (loss) | 9901 | €854,774 | €21,784 | -€832,990 | -97.5% |
| Financial income | 75/76B | €2,398 | €3,894 | +€1,496 | +62.4% |
| Recurring financial income | 75 | €2,398 | €3,894 | +€1,496 | +62.4% |
| Financial charges | 65/66B | €110,524 | €30,334 | -€80,189 | -72.6% |
| Recurring financial charges | 65 | €110,524 | €30,334 | -€80,189 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | €746,649 | -€4,656 | -€751,305 | |
| Transfer from deferred taxes | 780 | €76 | €3,078 | +€3,003 | +3959.7% |
| Transfer to deferred taxes | 680 | €150,737 | - | -€150,737 | |
| Income taxes | 67/77 | - | €865 | +€865 | |
| Profit (loss) for the period | 9904 | €595,988 | -€2,443 | -€598,431 | |
| Transfer from tax-exempt reserves | 789 | €303 | €12,314 | +€12,010 | +3959.5% |
| Transfer to tax-exempt reserves | 689 | €602,946 | - | -€602,946 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,655 | €9,871 | +€16,526 |
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 2 October 2026 via checked.be.