S A M: 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.
S A M
Largest movements
- Deferred charges and accrued income +€28,157
up €28,157 (+1589.6%), from €1,771 to €29,928
- Tangible fixed assets -€10,137
down €10,137 (-34.4%), from €29,451 to €19,314
of which Plant, machinery and equipment: -€6,138
- Receivables within one year -€4,700
down €4,700 (-96.1%), from €4,892 to €192
of which Other amounts receivable: -€4,285
- Cash +€4,046
up €4,046 (+39.5%), from €10,241 to €14,287
mainly Depreciation (+€10,137) and Other debts (+€5,111)
- Stocks and contracts -€3,362
down €3,362 (-32.0%), from €10,509 to €7,147
- Other debts +€5,111
new in 2025: €5,111
- Trade debts +€4,163
up €4,163 (+260.6%), from €1,598 to €5,761
- Profit (loss) carried forward +€3,236
up €3,236 (+13.9%), from €23,252 to €26,488
- Tax, wage and social debts +€1,495
up €1,495 (+61.9%), from €2,414 to €3,909
of which Remuneration and social security: +€3,537
- Gross operating margin -€6,505
down €6,505 (-17.3%), from €37,512 to €31,007
- Other operating charges +€3,241
up €3,241 (+72.8%), from €4,449 to €7,691
- Depreciation +€2,034
up €2,034 (+25.1%), from €8,103 to €10,137
- Staff costs -€1,584
down €1,584 (-55.5%), from €2,854 to €1,270
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 | €56,864 | €70,869 | +€14,005 | +24.6% |
| Fixed assets | 21/28 | €29,451 | €19,314 | -€10,137 | -34.4% |
| Tangible fixed assets | 22/27 | €29,451 | €19,314 | -€10,137 | -34.4% |
| Plant, machinery and equipment | 23 | €16,102 | €9,964 | -€6,138 | -38.1% |
| Furniture and vehicles | 24 | €13,349 | €9,350 | -€3,999 | -30.0% |
| Current assets | 29/58 | €27,413 | €51,554 | +€24,141 | +88.1% |
| Stocks and contracts in progress | 3 | €10,509 | €7,147 | -€3,362 | -32.0% |
| Stocks | 30/36 | €10,509 | €7,147 | -€3,362 | -32.0% |
| Amounts receivable within one year | 40/41 | €4,892 | €192 | -€4,700 | -96.1% |
| Trade receivables | 40 | €414 | - | -€414 | |
| Other amounts receivable | 41 | €4,477 | €192 | -€4,285 | -95.7% |
| Cash at bank and in hand | 54/58 | €10,241 | €14,287 | +€4,046 | +39.5% |
| Deferred charges and accrued income | 490/1 | €1,771 | €29,928 | +€28,157 | +1589.6% |
| Total equity and liabilities | 10/49 | €56,864 | €70,869 | +€14,005 | +24.6% |
| Equity | 10/15 | €52,852 | €56,088 | +€3,236 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €11,000 | €11,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,252 | €26,488 | +€3,236 | +13.9% |
| Amounts payable | 17/49 | €4,012 | €14,781 | +€10,769 | +268.4% |
| Amounts payable within one year | 42/48 | €4,012 | €14,781 | +€10,769 | +268.4% |
| Trade debts | 44 | €1,598 | €5,761 | +€4,163 | +260.6% |
| Suppliers | 440/4 | €1,598 | €5,761 | +€4,163 | +260.6% |
| Taxes, remuneration and social security | 45 | €2,414 | €3,909 | +€1,495 | +61.9% |
| Taxes | 450/3 | €2,142 | €99 | -€2,043 | -95.4% |
| Remuneration and social security | 454/9 | €272 | €3,809 | +€3,537 | +1299.4% |
| Other amounts payable | 47/48 | - | €5,111 | +€5,111 | |
| Remuneration, social security and pensions | 62 | €2,854 | €1,270 | -€1,584 | -55.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,103 | €10,137 | +€2,034 | +25.1% |
| Other operating charges | 640/8 | €4,449 | €7,691 | +€3,241 | +72.8% |
| Non-recurring operating charges | 66A | - | €5,800 | +€5,800 | |
| Gross operating margin | 9900 | €37,512 | €31,007 | -€6,505 | -17.3% |
| Operating profit (loss) | 9901 | €22,107 | €6,110 | -€15,997 | -72.4% |
| Financial income | 75/76B | €10 | €32 | +€23 | +232.9% |
| Recurring financial income | 75 | €10 | €32 | +€23 | +232.9% |
| Financial charges | 65/66B | €2,468 | €2,807 | +€339 | +13.7% |
| Recurring financial charges | 65 | €2,468 | €2,807 | +€339 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €19,648 | €3,335 | -€16,313 | -83.0% |
| Income taxes | 67/77 | - | €99 | +€99 | |
| Profit (loss) for the period | 9904 | €19,648 | €3,236 | -€16,412 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,648 | €3,236 | -€16,412 | -83.5% |
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 8 October 2026 via checked.be.