SIMURG: 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.
SIMURG
Largest movements
- Receivables within one year -€47,330
down €47,330 (-89.9%), from €52,628 to €5,298
- Stocks and contracts -€14,361
down €14,361 (-80.4%), from €17,861 to €3,500
- Cash +€6,184
up €6,184 (+47.1%), from €13,115 to €19,299
mainly Receivables within one year (+€47,330) and Stocks and contracts (+€14,361)
- Deferred charges and accrued income -€1,547
no longer reported in 2025 (was €1,547)
- Trade debts -€54,296
down €54,296 (-96.4%), from €56,332 to €2,036
- Debts after one year -€16,699
down €16,699 (-41.3%), from €40,397 to €23,698
- Other debts +€7,481
up €7,481 (+126.2%), from €5,929 to €13,410
- Current portion of long-term debt +€3,119
up €3,119 (+23.0%), from €13,580 to €16,699
- Tax, wage and social debts +€2,583
up €2,583 (+525.4%), from €492 to €3,075
- Gross operating margin +€25,167
up €25,167, from -€16,301 to €8,866
- Financial charges +€2,720
up €2,720 (+74.7%), from €3,640 to €6,360
- Staff costs -€1,037
no longer reported in 2025 (was €1,037)
- Other operating charges +€804
up €804 (+101.0%), from €796 to €1,600
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 | €85,651 | €28,597 | -€57,054 | -66.6% |
| Fixed assets | 21/28 | €500 | €500 | = | 0.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €85,151 | €28,097 | -€57,054 | -67.0% |
| Stocks and contracts in progress | 3 | €17,861 | €3,500 | -€14,361 | -80.4% |
| Stocks | 30/36 | €17,861 | €3,500 | -€14,361 | -80.4% |
| Amounts receivable within one year | 40/41 | €52,628 | €5,298 | -€47,330 | -89.9% |
| Trade receivables | 40 | €52,628 | €5,298 | -€47,330 | -89.9% |
| Cash at bank and in hand | 54/58 | €13,115 | €19,299 | +€6,184 | +47.1% |
| Deferred charges and accrued income | 490/1 | €1,547 | - | -€1,547 | |
| Total equity and liabilities | 10/49 | €85,651 | €28,597 | -€57,054 | -66.6% |
| Equity | 10/15 | -€31,078 | -€30,321 | +€758 | +2.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,578 | -€32,821 | +€758 | +2.3% |
| Amounts payable | 17/49 | €116,730 | €58,918 | -€57,812 | -49.5% |
| Amounts payable after more than one year | 17 | €40,397 | €23,698 | -€16,699 | -41.3% |
| Financial debts | 170/4 | €40,397 | €23,698 | -€16,699 | -41.3% |
| Amounts payable within one year | 42/48 | €76,332 | €35,219 | -€41,113 | -53.9% |
| Current portion of amounts payable after more than one year | 42 | €13,580 | €16,699 | +€3,119 | +23.0% |
| Trade debts | 44 | €56,332 | €2,036 | -€54,296 | -96.4% |
| Suppliers | 440/4 | €56,332 | €2,036 | -€54,296 | -96.4% |
| Taxes, remuneration and social security | 45 | €492 | €3,075 | +€2,583 | +525.4% |
| Taxes | 450/3 | €492 | €3,075 | +€2,583 | +525.4% |
| Other amounts payable | 47/48 | €5,929 | €13,410 | +€7,481 | +126.2% |
| Remuneration, social security and pensions | 62 | €1,037 | - | -€1,037 | |
| Other operating charges | 640/8 | €796 | €1,600 | +€804 | +101.0% |
| Gross operating margin | 9900 | -€16,301 | €8,866 | +€25,167 | |
| Operating profit (loss) | 9901 | -€18,134 | €7,266 | +€25,400 | |
| Financial income | 75/76B | €100 | €0 | -€100 | -100.0% |
| Recurring financial income | 75 | €100 | €0 | -€100 | -100.0% |
| Financial charges | 65/66B | €3,640 | €6,360 | +€2,720 | +74.7% |
| Recurring financial charges | 65 | €3,640 | €6,360 | +€2,720 | +74.7% |
| Profit (loss) for the period before taxes | 9903 | -€21,673 | €906 | +€22,579 | |
| Income taxes | 67/77 | €124 | €148 | +€25 | +19.9% |
| Profit (loss) for the period | 9904 | -€21,797 | €758 | +€22,555 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,797 | €758 | +€22,555 |
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 28 September 2026 via checked.be.