SIMOVISION: 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.
SIMOVISION
Largest movements
- Stocks and contracts +€650,773
up €650,773 (+41.1%), from €1.6m to €2.2m
- Formation expenses +€168,272
new in 2025: €168,272
- Receivables within one year -€137,101
down €137,101 (-8.0%), from €1.7m to €1.6m
of which Trade receivables: -€174,827
- Tangible fixed assets -€101,641
down €101,641 (-15.8%), from €643,019 to €541,378
- Cash -€74,174
down €74,174 (-25.8%), from €288,024 to €213,850
mainly Stocks and contracts (-€650,773) and Investment in fixed assets (net) (-€400,113)
- Trade debts +€149,309
up €149,309 (+10.0%), from €1.5m to €1.6m
- Short-term financial debts +€125,968
up €125,968 (+12.7%), from €988,653 to €1.1m
- Tax, wage and social debts +€103,420
up €103,420 (+31.1%), from €332,995 to €436,415
of which Remuneration and social security: +€88,958
- Other debts +€90,000
new in 2025: €90,000
- Accrued charges and deferred income +€82,015
new in 2025: €82,015
- Staff costs +€188,110
up €188,110 (+11.0%), from €1.7m to €1.9m
- Write-downs +€130,107
up €130,107, from -€55,900 to €74,207
- Depreciation +€78,084
up €78,084 (+32.9%), from €237,647 to €315,731
- Gross operating margin +€74,854
up €74,854 (+3.4%), from €2.2m to €2.3m
- Financial charges +€71,962
up €71,962 (+105.7%), from €68,089 to €140,051
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 | €4,298,944 | €4,811,690 | +€512,747 | +11.9% |
| Formation expenses | 20 | - | €168,272 | +€168,272 | |
| Fixed assets | 21/28 | €665,690 | €581,800 | -€83,890 | -12.6% |
| Intangible fixed assets | 21 | €22,500 | €40,252 | +€17,752 | +78.9% |
| Tangible fixed assets | 22/27 | €643,019 | €541,378 | -€101,641 | -15.8% |
| Plant, machinery and equipment | 23 | €529,342 | €480,226 | -€49,116 | -9.3% |
| Furniture and vehicles | 24 | €15,397 | €11,973 | -€3,424 | -22.2% |
| Leasing and similar rights | 25 | €96,408 | €47,747 | -€48,661 | -50.5% |
| Other tangible fixed assets | 26 | €1,872 | €1,431 | -€440 | -23.5% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €3,633,254 | €4,061,619 | +€428,365 | +11.8% |
| Stocks and contracts in progress | 3 | €1,582,885 | €2,233,658 | +€650,773 | +41.1% |
| Stocks | 30/36 | €1,582,885 | €2,233,658 | +€650,773 | +41.1% |
| Amounts receivable within one year | 40/41 | €1,723,947 | €1,586,846 | -€137,101 | -8.0% |
| Trade receivables | 40 | €1,722,738 | €1,547,911 | -€174,827 | -10.1% |
| Other amounts receivable | 41 | €1,209 | €38,935 | +€37,726 | +3120.2% |
| Cash at bank and in hand | 54/58 | €288,024 | €213,850 | -€74,174 | -25.8% |
| Deferred charges and accrued income | 490/1 | €38,399 | €27,266 | -€11,133 | -29.0% |
| Total equity and liabilities | 10/49 | €4,298,944 | €4,811,690 | +€512,747 | +11.9% |
| Equity | 10/15 | -€129,060 | -€102,578 | +€26,482 | +20.5% |
| Contributions | 10/11 | €19,712 | €19,712 | = | 0.0% |
| Reserves | 13 | €2,269 | €2,269 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,961 | €1,961 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,961 | €1,961 | = | 0.0% |
| Tax-exempt reserves | 132 | €308 | €308 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€151,041 | -€124,559 | +€26,482 | +17.5% |
| Amounts payable | 17/49 | €4,428,004 | €4,914,268 | +€486,265 | +11.0% |
| Amounts payable after more than one year | 17 | €1,564,802 | €1,519,349 | -€45,453 | -2.9% |
| Financial debts | 170/4 | €64,802 | €19,349 | -€45,453 | -70.1% |
| Other amounts payable | 178/9 | €1,500,000 | €1,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,863,202 | €3,312,904 | +€449,702 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €48,175 | €29,180 | -€18,995 | -39.4% |
| Financial debts | 43 | €988,653 | €1,114,621 | +€125,968 | +12.7% |
| Credit institutions | 430/8 | €988,653 | €1,114,621 | +€125,968 | +12.7% |
| Trade debts | 44 | €1,493,379 | €1,642,688 | +€149,309 | +10.0% |
| Suppliers | 440/4 | €1,493,379 | €1,642,688 | +€149,309 | +10.0% |
| Taxes, remuneration and social security | 45 | €332,995 | €436,415 | +€103,420 | +31.1% |
| Taxes | 450/3 | €70,213 | €84,674 | +€14,462 | +20.6% |
| Remuneration and social security | 454/9 | €262,782 | €351,740 | +€88,958 | +33.9% |
| Other amounts payable | 47/48 | - | €90,000 | +€90,000 | |
| Accrued charges and deferred income | 492/3 | - | €82,015 | +€82,015 | |
| Remuneration, social security and pensions | 62 | €1,712,602 | €1,900,712 | +€188,110 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,647 | €315,731 | +€78,084 | +32.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€55,900 | €74,207 | +€130,107 | |
| Other operating charges | 640/8 | €58,619 | €9,493 | -€49,125 | -83.8% |
| Operating charges capitalised as restructuring costs | 649 | - | -€190,078 | -€190,078 | |
| Non-recurring operating charges | 66A | €4,400 | €3,221 | -€1,179 | -26.8% |
| Gross operating margin | 9900 | €2,205,431 | €2,280,285 | +€74,854 | +3.4% |
| Operating profit (loss) | 9901 | €248,064 | €166,999 | -€81,065 | -32.7% |
| Financial income | 75/76B | €2,020 | €2,234 | +€214 | +10.6% |
| Recurring financial income | 75 | €2,020 | €2,234 | +€214 | +10.6% |
| Financial charges | 65/66B | €68,089 | €140,051 | +€71,962 | +105.7% |
| Recurring financial charges | 65 | €68,089 | €140,051 | +€71,962 | +105.7% |
| Profit (loss) for the period before taxes | 9903 | €181,995 | €29,182 | -€152,813 | -84.0% |
| Income taxes | 67/77 | €8,811 | €2,700 | -€6,111 | -69.4% |
| Profit (loss) for the period | 9904 | €173,185 | €26,482 | -€146,703 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €173,185 | €26,482 | -€146,703 | -84.7% |
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.