Simon Troch Advocaat: 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 Troch Advocaat
Largest movements
- Tangible fixed assets +€485,552
up €485,552 (+108%), from €449,484 to €935,036
of which Land and buildings: +€492,615
- Cash -€20,763
down €20,763 (-77.4%), from €26,838 to €6,075
mainly Investment in fixed assets (net) (-€532,037) and Contributions, distributions and other (-€294,187)
- Debts after one year +€401,682
up €401,682 (+126%), from €318,534 to €720,216
- Other debts +€145,897
up €145,897 (+94.5%), from €154,454 to €300,351
- Profit (loss) carried forward -€109,314
no longer reported in 2025 (was €109,314)
- Gross operating margin -€99,957
down €99,957 (-25.7%), from €389,158 to €289,201
- Taxes -€32,755
down €32,755 (-34.9%), from €93,721 to €60,966
- Depreciation +€15,223
up €15,223 (+48.7%), from €31,263 to €46,486
- Financial income +€14,001
up €14,001 (+305%), from €4,586 to €18,587
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.
Derived cash bridge
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 | €714,137 | €1,168,791 | +€454,654 | +63.7% |
| Fixed assets | 21/28 | €450,984 | €936,536 | +€485,552 | +108% |
| Tangible fixed assets | 22/27 | €449,484 | €935,036 | +€485,552 | +108% |
| Land and buildings | 22 | €416,986 | €909,602 | +€492,615 | +118% |
| Plant, machinery and equipment | 23 | €480 | €208 | -€272 | -56.7% |
| Furniture and vehicles | 24 | €32,018 | €25,226 | -€6,792 | -21.2% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €263,153 | €232,255 | -€30,898 | -11.7% |
| Amounts receivable within one year | 40/41 | €207,999 | €198,763 | -€9,236 | -4.4% |
| Trade receivables | 40 | €207,996 | €179,520 | -€28,476 | -13.7% |
| Other amounts receivable | 41 | €4 | €19,243 | +€19,239 | +504,970% |
| Current investments | 50/53 | €28,315 | €26,700 | -€1,615 | -5.7% |
| Cash at bank and in hand | 54/58 | €26,838 | €6,075 | -€20,763 | -77.4% |
| Deferred charges and accrued income | 490/1 | - | €717 | +€717 | |
| Total equity and liabilities | 10/49 | €714,137 | €1,168,791 | +€454,654 | +63.7% |
| Equity | 10/15 | €183,657 | €74,343 | -€109,314 | -59.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,743 | €55,743 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €53,883 | €53,883 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,314 | - | -€109,314 | |
| Amounts payable | 17/49 | €530,480 | €1,094,448 | +€563,968 | +106% |
| Amounts payable after more than one year | 17 | €318,534 | €720,216 | +€401,682 | +126% |
| Financial debts | 170/4 | €318,534 | €720,216 | +€401,682 | +126% |
| Amounts payable within one year | 42/48 | €211,930 | €374,232 | +€162,302 | +76.6% |
| Current portion of amounts payable after more than one year | 42 | €26,238 | €35,922 | +€9,685 | +36.9% |
| Financial debts | 43 | - | €3,288 | +€3,288 | |
| Credit institutions | 430/8 | - | €3,288 | +€3,288 | |
| Trade debts | 44 | €4,198 | €4,937 | +€739 | +17.6% |
| Suppliers | 440/4 | €4,198 | €4,937 | +€739 | +17.6% |
| Taxes, remuneration and social security | 45 | €27,040 | €29,734 | +€2,694 | +10.0% |
| Taxes | 450/3 | €27,040 | €27,547 | +€507 | +1.9% |
| Remuneration and social security | 454/9 | - | €2,187 | +€2,187 | |
| Other amounts payable | 47/48 | €154,454 | €300,351 | +€145,897 | +94.5% |
| Accrued charges and deferred income | 492/3 | €16 | - | -€16 | |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,263 | €46,486 | +€15,223 | +48.7% |
| Other operating charges | 640/8 | €4,126 | €7,469 | +€3,343 | +81.0% |
| Gross operating margin | 9900 | €389,158 | €289,201 | -€99,957 | -25.7% |
| Operating profit (loss) | 9901 | €353,769 | €235,247 | -€118,522 | -33.5% |
| Financial income | 75/76B | €4,586 | €18,587 | +€14,001 | +305% |
| Recurring financial income | 75 | €4,586 | €18,587 | +€14,001 | +305% |
| Financial charges | 65/66B | €5,320 | €7,995 | +€2,675 | +50.3% |
| Recurring financial charges | 65 | €5,320 | €7,995 | +€2,675 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €353,035 | €245,839 | -€107,197 | -30.4% |
| Income taxes | 67/77 | €93,721 | €60,966 | -€32,755 | -34.9% |
| Profit (loss) for the period | 9904 | €259,314 | €184,873 | -€74,441 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €259,314 | €184,873 | -€74,441 | -28.7% |
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 25 October 2026 via checked.be.