SIMON D'HONDT: what changed
Two financial 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 D'HONDT
Largest movements
- Receivables after one year +€90,000
new in 2025: €90,000
- Receivables within one year -€72,265
down €72,265 (-47.0%), from €153,861 to €81,595
of which Trade receivables: -€51,418
- Tangible fixed assets -€21,696
down €21,696 (-10.6%), from €204,955 to €183,259
of which Land and buildings: -€20,828
- Cash +€18,842
up €18,842 (+1249.2%), from €1,508 to €20,350
mainly Receivables within one year (+€72,265) and Depreciation (+€24,802)
- Reserves +€11,606
up €11,606 (+1772.9%), from €655 to €12,261
- Trade debts +€4,153
up €4,153 (+995.0%), from €417 to €4,570
- Gross operating margin +€4,269
up €4,269 (+9.0%), from €47,540 to €51,808
- Other operating charges -€4,257
down €4,257 (-28.4%), from €14,997 to €10,740
- Taxes +€3,857
up €3,857 (+197.7%), from €1,951 to €5,808
- Financial income +€1,182
up €1,182 (+328286.1%), from €0 to €1,182
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 | €361,909 | €378,021 | +€16,112 | +4.5% |
| Fixed assets | 21/28 | €204,955 | €183,259 | -€21,696 | -10.6% |
| Tangible fixed assets | 22/27 | €204,955 | €183,259 | -€21,696 | -10.6% |
| Land and buildings | 22 | €197,074 | €176,246 | -€20,828 | -10.6% |
| Furniture and vehicles | 24 | €7,881 | €7,013 | -€868 | -11.0% |
| Current assets | 29/58 | €156,953 | €194,761 | +€37,808 | +24.1% |
| Amounts receivable after more than one year | 29 | - | €90,000 | +€90,000 | |
| Other amounts receivable | 291 | - | €90,000 | +€90,000 | |
| Amounts receivable within one year | 40/41 | €153,861 | €81,595 | -€72,265 | -47.0% |
| Trade receivables | 40 | €133,014 | €81,595 | -€51,418 | -38.7% |
| Other amounts receivable | 41 | €20,847 | - | -€20,847 | |
| Cash at bank and in hand | 54/58 | €1,508 | €20,350 | +€18,842 | +1249.2% |
| Deferred charges and accrued income | 490/1 | €1,584 | €2,815 | +€1,231 | +77.7% |
| Total equity and liabilities | 10/49 | €361,909 | €378,021 | +€16,112 | +4.5% |
| Equity | 10/15 | €353,646 | €365,252 | +€11,606 | +3.3% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €655 | €12,261 | +€11,606 | +1772.9% |
| Distributable reserves | 133 | €655 | €12,261 | +€11,606 | +1772.9% |
| Profit (loss) carried forward | 14 | €2,991 | €2,991 | = | 0.0% |
| Amounts payable | 17/49 | €8,263 | €12,768 | +€4,506 | +54.5% |
| Amounts payable within one year | 42/48 | €8,263 | €12,768 | +€4,506 | +54.5% |
| Trade debts | 44 | €417 | €4,570 | +€4,153 | +995.0% |
| Suppliers | 440/4 | €417 | €4,570 | +€4,153 | +995.0% |
| Taxes, remuneration and social security | 45 | €7,845 | €8,198 | +€353 | +4.5% |
| Taxes | 450/3 | €7,845 | €8,198 | +€353 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,360 | €24,802 | +€443 | +1.8% |
| Other operating charges | 640/8 | €14,997 | €10,740 | -€4,257 | -28.4% |
| Gross operating margin | 9900 | €47,540 | €51,808 | +€4,269 | +9.0% |
| Operating profit (loss) | 9901 | €8,183 | €16,266 | +€8,083 | +98.8% |
| Financial income | 75/76B | €0 | €1,182 | +€1,182 | +328286.1% |
| Recurring financial income | 75 | €0 | €1,182 | +€1,182 | +328286.1% |
| Financial charges | 65/66B | €45 | €34 | -€11 | -25.0% |
| Recurring financial charges | 65 | €45 | €34 | -€11 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €8,139 | €17,414 | +€9,276 | +114.0% |
| Income taxes | 67/77 | €1,951 | €5,808 | +€3,857 | +197.7% |
| Profit (loss) for the period | 9904 | €6,187 | €11,606 | +€5,419 | +87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,187 | €11,606 | +€5,419 | +87.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.