SIMTOR: 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.
What changed
SIMTOR
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€27,228
2024 · €11,866+€15,362
Equity
€10.1m
2024 · €6.2m+€3.9m
Cash
€133,921
2024 · €46,146+€87,776
Balance sheet total
€12.1m
2024 · €7.4m+€4.7m
Largest movements
Assets
- Tangible fixed assets +€2.4m
up €2.4m (+217%), from €1.1m to €3.5m
of which Land and buildings: +€2.4m
- Current investments +€2.3m
up €2.3m (+36.2%), from €6.2m to €8.5m
Equity and liabilities
- Revaluation surpluses +€2.4m
new in 2025: €2.4m
- Contributions +€1.5m
up €1.5m (+29.9%), from €5.1m to €6.6m
- Accrued charges and deferred income +€808,007
up €808,007 (+80.3%), from €1.0m to €1.8m
Income statement
- Financial charges -€64,419
down €64,419 (-35.2%), from €183,120 to €118,701
- Financial income -€28,144
down €28,144 (-7.5%), from €375,486 to €347,342
- Gross operating margin -€27,110
down €27,110 (-47.7%), from -€56,777 to -€83,887
- Taxes -€5,102
down €5,102 (-10.8%), from €47,060 to €41,957
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
€11,866
Gross operating margin
-€27,110
Depreciation
+€616
Other operating charges
+€479
Financial income
-€28,144
Financial charges
+€64,419
Taxes
+€5,102
Result 2025
€27,228
raises the resultlowers the result
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.
From operations
+€896,550
Investment
-€4.7m
Financing
+€3.8m
Cash 2024
€46,146
From operations (derived)
+€896,550
Net result for the year
+€27,228
Depreciation
+€42,947
Smaller working-capital items
+€8,580
Other debts
+€9,787
Accrued charges and deferred income
+€808,007
Investment (derived)
-€4.7m
Investment in fixed assets (net)
-€2.4m
Current investments
-€2.3m
Financing
+€3.8m
Contributions, distributions and other
+€3.8m
Cash 2025
€133,921
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,413,941 | €12,117,122 | +€4.7m | +63.4% |
| Fixed assets | 21/28 | €1,107,504 | €3,470,110 | +€2.4m | +213% |
| Tangible fixed assets | 22/27 | €1,088,953 | €3,451,558 | +€2.4m | +217% |
| Land and buildings | 22 | €1,088,953 | €3,450,322 | +€2.4m | +217% |
| Furniture and vehicles | 24 | - | €1,236 | +€1,236 | |
| Financial fixed assets | 28 | €18,551 | €18,551 | = | 0.0% |
| Current assets | 29/58 | €6,306,437 | €8,647,012 | +€2.3m | +37.1% |
| Amounts receivable within one year | 40/41 | €33,537 | €34,282 | +€745 | +2.2% |
| Other amounts receivable | 41 | €33,537 | €34,282 | +€745 | +2.2% |
| Current investments | 50/53 | €6,226,754 | €8,478,809 | +€2.3m | +36.2% |
| Cash at bank and in hand | 54/58 | €46,146 | €133,921 | +€87,776 | +190% |
| Total equity and liabilities | 10/49 | €7,413,941 | €12,117,122 | +€4.7m | +63.4% |
| Equity | 10/15 | €6,225,317 | €10,101,378 | +€3.9m | +62.3% |
| Contributions | 10/11 | €5,075,618 | €6,590,846 | +€1.5m | +29.9% |
| Capital | 10 | €5,075,618 | €6,590,846 | +€1.5m | +29.9% |
| Issued capital | 100 | €5,075,618 | €6,590,846 | +€1.5m | +29.9% |
| Revaluation surpluses | 12 | - | €2,403,270 | +€2.4m | |
| Reserves | 13 | €1,149,698 | €1,107,262 | -€42,437 | -3.7% |
| Non-distributable reserves | 130/1 | €81,710 | €83,613 | +€1,903 | +2.3% |
| Legal reserve | 130 | €81,710 | €83,613 | +€1,903 | +2.3% |
| Tax-exempt reserves | 132 | €236,785 | €226,201 | -€10,584 | -4.5% |
| Distributable reserves | 133 | €831,203 | €797,447 | -€33,756 | -4.1% |
| Provisions and deferred taxes | 16 | €78,928 | €75,400 | -€3,528 | -4.5% |
| Deferred taxes | 168 | €78,928 | €75,400 | -€3,528 | -4.5% |
| Amounts payable | 17/49 | €1,109,696 | €1,940,344 | +€830,647 | +74.9% |
| Amounts payable within one year | 42/48 | €103,950 | €126,590 | +€22,640 | +21.8% |
| Trade debts | 44 | €367 | €7,188 | +€6,821 | +1,858% |
| Suppliers | 440/4 | €367 | €7,188 | +€6,821 | +1,858% |
| Advances received on contracts in progress | 46 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | €11,523 | €15,555 | +€4,032 | +35.0% |
| Taxes | 450/3 | €11,523 | €15,555 | +€4,032 | +35.0% |
| Other amounts payable | 47/48 | €92,060 | €101,847 | +€9,787 | +10.6% |
| Accrued charges and deferred income | 492/3 | €1,005,746 | €1,813,754 | +€808,007 | +80.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,563 | €42,947 | -€616 | -1.4% |
| Other operating charges | 640/8 | €36,628 | €36,149 | -€479 | -1.3% |
| Gross operating margin | 9900 | -€56,777 | -€83,887 | -€27,110 | -47.7% |
| Operating profit (loss) | 9901 | -€136,969 | -€162,983 | -€26,015 | -19.0% |
| Financial income | 75/76B | €375,486 | €347,342 | -€28,144 | -7.5% |
| Recurring financial income | 75 | €375,486 | €347,342 | -€28,144 | -7.5% |
| Financial charges | 65/66B | €183,120 | €118,701 | -€64,419 | -35.2% |
| Recurring financial charges | 65 | €183,120 | €118,701 | -€64,419 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €55,398 | €65,658 | +€10,260 | +18.5% |
| Transfer from deferred taxes | 780 | €3,528 | €3,528 | = | 0.0% |
| Income taxes | 67/77 | €47,060 | €41,957 | -€5,102 | -10.8% |
| Profit (loss) for the period | 9904 | €11,866 | €27,228 | +€15,362 | +129% |
| Transfer from tax-exempt reserves | 789 | €10,584 | €10,584 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,450 | €37,812 | +€15,362 | +68.4% |
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.