SIMULFI: 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.
SIMULFI
Largest movements
- Receivables within one year +€295,875
up €295,875 (+143.0%), from €206,928 to €502,803
of which Trade receivables: +€158,111
- Financial fixed assets +€243,000
up €243,000 (+147.4%), from €164,849 to €407,849
- Tangible fixed assets -€17,296
down €17,296 (-33.0%), from €52,405 to €35,109
- Debts after one year +€416,917
up €416,917 (+230.9%), from €180,558 to €597,475
of which Financial debts: +€416,917
- Trade debts +€54,683
up €54,683 (+115.5%), from €47,336 to €102,019
- Short-term financial debts +€15,884
up €15,884 (+64.6%), from €24,597 to €40,481
- Current portion of long-term debt +€14,640
up €14,640 (+71.6%), from €20,444 to €35,084
- Tax, wage and social debts +€12,088
up €12,088 (+88.9%), from €13,591 to €25,679
of which Taxes: +€12,708
- Gross operating margin -€26,097
down €26,097 (-55.3%), from €47,216 to €21,119
- Financial income +€20,946
up €20,946 (+27928.4%), from €75 to €21,021
of which Non-recurring financial income: +€20,000
- Taxes +€13,131
up €13,131 (+429.6%), from €3,057 to €16,188
- Financial charges -€5,390
down €5,390 (-53.5%), from €10,074 to €4,684
- Depreciation -€2,398
down €2,398 (-12.2%), from €19,694 to €17,296
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 | €424,900 | €946,346 | +€521,446 | +122.7% |
| Fixed assets | 21/28 | €217,254 | €442,958 | +€225,704 | +103.9% |
| Tangible fixed assets | 22/27 | €52,405 | €35,109 | -€17,296 | -33.0% |
| Furniture and vehicles | 24 | €52,405 | €35,109 | -€17,296 | -33.0% |
| Financial fixed assets | 28 | €164,849 | €407,849 | +€243,000 | +147.4% |
| Current assets | 29/58 | €207,646 | €503,388 | +€295,742 | +142.4% |
| Amounts receivable within one year | 40/41 | €206,928 | €502,803 | +€295,875 | +143.0% |
| Trade receivables | 40 | €17,665 | €175,776 | +€158,111 | +895.1% |
| Other amounts receivable | 41 | €189,263 | €327,027 | +€137,764 | +72.8% |
| Cash at bank and in hand | 54/58 | €585 | €585 | +€0 | 0.0% |
| Deferred charges and accrued income | 490/1 | €133 | - | -€133 | |
| Total equity and liabilities | 10/49 | €424,900 | €946,346 | +€521,446 | +122.7% |
| Equity | 10/15 | €32,143 | €34,607 | +€2,464 | +7.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,083 | €26,547 | +€2,464 | +10.2% |
| Amounts payable | 17/49 | €392,757 | €911,739 | +€518,982 | +132.1% |
| Amounts payable after more than one year | 17 | €180,558 | €597,475 | +€416,917 | +230.9% |
| Financial debts | 170/4 | €164,558 | €581,475 | +€416,917 | +253.4% |
| Other amounts payable | 178/9 | €16,000 | €16,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €212,199 | €314,263 | +€102,064 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €20,444 | €35,084 | +€14,640 | +71.6% |
| Financial debts | 43 | €24,597 | €40,481 | +€15,884 | +64.6% |
| Credit institutions | 430/8 | €24,597 | €40,481 | +€15,884 | +64.6% |
| Trade debts | 44 | €47,336 | €102,019 | +€54,683 | +115.5% |
| Suppliers | 440/4 | €47,336 | €102,019 | +€54,683 | +115.5% |
| Taxes, remuneration and social security | 45 | €13,591 | €25,679 | +€12,088 | +88.9% |
| Taxes | 450/3 | €12,762 | €25,470 | +€12,708 | +99.6% |
| Remuneration and social security | 454/9 | €829 | €209 | -€620 | -74.8% |
| Other amounts payable | 47/48 | €106,231 | €111,000 | +€4,769 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,694 | €17,296 | -€2,398 | -12.2% |
| Other operating charges | 640/8 | €2,400 | €1,508 | -€892 | -37.2% |
| Gross operating margin | 9900 | €47,216 | €21,119 | -€26,097 | -55.3% |
| Operating profit (loss) | 9901 | €25,122 | €2,315 | -€22,807 | -90.8% |
| Financial income | 75/76B | €75 | €21,021 | +€20,946 | +27928.4% |
| Recurring financial income | 75 | €75 | €1,021 | +€946 | +1261.8% |
| Non-recurring financial income | 76B | - | €20,000 | +€20,000 | |
| Financial charges | 65/66B | €10,074 | €4,684 | -€5,390 | -53.5% |
| Recurring financial charges | 65 | €10,074 | €4,684 | -€5,390 | -53.5% |
| Profit (loss) for the period before taxes | 9903 | €15,123 | €18,652 | +€3,529 | +23.3% |
| Income taxes | 67/77 | €3,057 | €16,188 | +€13,131 | +429.6% |
| Profit (loss) for the period | 9904 | €12,066 | €2,464 | -€9,602 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,066 | €2,464 | -€9,602 | -79.6% |
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.