SIMH: what changed
What changed
SIMH
filed annual accounts (NBB)
Net result for the year
€65,363
2024 · €89,620-€24,257
Equity
€66,045
2024 · €682+€65,363
Cash
€41,884
2024 · €45,015-€3,131
Balance sheet total
€1.5m
2024 · €1.5m-€49,069
Largest movements
Assets
- Tangible fixed assets -€52,001
down €52,001 (-3.6%), from €1.5m to €1.4m
of which Land and buildings: -€51,590
Equity and liabilities
- Debts after one year -€119,869
down €119,869 (-8.7%), from €1.4m to €1.3m
- Reserves +€59,845
new in 2025: €59,845
Income statement
- Taxes +€18,337
new in 2025: €18,337
- Gross operating margin -€6,110
down €6,110 (-3.3%), from €183,038 to €176,928
- Financial charges -€1,890
down €1,890 (-6.8%), from €27,657 to €25,767
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€89,620
Gross operating margin
-€6,110
Depreciation
-€1,314
Other operating charges
-€386
Financial charges
+€1,890
Taxes
-€18,337
Result 2025
€65,363
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€114,880
Investment
-€8,798
Financing
-€109,214
Cash 2024
€45,015
From operations (derived)
+€114,880
Net result for the year
+€65,363
Depreciation
+€54,799
Smaller working-capital items
+€225
Trade debts
-€8,844
Tax, wage and social debts
+€3,337
Investment (derived)
-€8,798
Investment in fixed assets (net)
-€2,798
Current investments
-€6,000
Financing
-€109,214
Debts after one year
-€119,869
Current portion of long-term debt
+€10,656
Cash 2025
€41,884
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,502,766 | €1,453,697 | -€49,069 | -3.3% |
| Fixed assets | 21/28 | €1,455,587 | €1,403,585 | -€52,001 | -3.6% |
| Tangible fixed assets | 22/27 | €1,455,587 | €1,403,585 | -€52,001 | -3.6% |
| Land and buildings | 22 | €1,453,359 | €1,401,769 | -€51,590 | -3.5% |
| Furniture and vehicles | 24 | €2,228 | €1,817 | -€411 | -18.5% |
| Current assets | 29/58 | €47,179 | €50,111 | +€2,932 | +6.2% |
| Current investments | 50/53 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €45,015 | €41,884 | -€3,131 | -7.0% |
| Deferred charges and accrued income | 490/1 | €2,164 | €2,227 | +€64 | +2.9% |
| Total equity and liabilities | 10/49 | €1,502,766 | €1,453,697 | -€49,069 | -3.3% |
| Equity | 10/15 | €682 | €66,045 | +€65,363 | +9,578% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | - | €59,845 | +€59,845 | |
| Distributable reserves | 133 | - | €59,845 | +€59,845 | |
| Profit (loss) carried forward | 14 | -€5,518 | - | +€5,518 | |
| Amounts payable | 17/49 | €1,502,083 | €1,387,652 | -€114,432 | -7.6% |
| Amounts payable after more than one year | 17 | €1,370,723 | €1,250,854 | -€119,869 | -8.7% |
| Financial debts | 170/4 | €1,370,723 | €1,250,854 | -€119,869 | -8.7% |
| Amounts payable within one year | 42/48 | €122,436 | €127,584 | +€5,149 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €109,243 | €119,898 | +€10,656 | +9.8% |
| Trade debts | 44 | €9,230 | €386 | -€8,844 | -95.8% |
| Suppliers | 440/4 | €9,230 | €386 | -€8,844 | -95.8% |
| Taxes, remuneration and social security | 45 | - | €3,337 | +€3,337 | |
| Taxes | 450/3 | - | €3,337 | +€3,337 | |
| Other amounts payable | 47/48 | €3,963 | €3,963 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,924 | €9,213 | +€289 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,485 | €54,799 | +€1,314 | +2.5% |
| Other operating charges | 640/8 | €12,277 | €12,662 | +€386 | +3.1% |
| Gross operating margin | 9900 | €183,038 | €176,928 | -€6,110 | -3.3% |
| Operating profit (loss) | 9901 | €117,277 | €109,466 | -€7,810 | -6.7% |
| Financial charges | 65/66B | €27,657 | €25,767 | -€1,890 | -6.8% |
| Recurring financial charges | 65 | €27,657 | €25,767 | -€1,890 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €89,620 | €83,700 | -€5,920 | -6.6% |
| Income taxes | 67/77 | - | €18,337 | +€18,337 | |
| Profit (loss) for the period | 9904 | €89,620 | €65,363 | -€24,257 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,620 | €65,363 | -€24,257 | -27.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.