S.A.M. agencies: 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.
S.A.M. agencies
Largest movements
- Current investments -€41,443
down €41,443 (-20.6%), from €200,925 to €159,483
- Receivables within one year -€27,216
down €27,216 (-66.4%), from €41,014 to €13,798
of which Other amounts receivable: -€32,889
- Tangible fixed assets -€24,171
down €24,171 (-25.2%), from €95,774 to €71,603
of which Furniture and vehicles: -€21,042
- Cash +€22,172
up €22,172 (+177%), from €12,515 to €34,687
mainly Current investments (+€41,443) and Receivables within one year (+€27,216)
- Trade debts -€24,919
down €24,919 (-83.2%), from €29,951 to €5,032
- Reserves -€23,428
down €23,428 (-10.3%), from €226,500 to €203,072
of which Distributable reserves: -€23,428
- Debts after one year -€13,857
down €13,857 (-29.5%), from €46,917 to €33,060
- Current portion of long-term debt -€4,465
down €4,465 (-24.4%), from €18,322 to €13,857
- Gross operating margin +€8,995
up €8,995 (+26.7%), from €33,715 to €42,709
- Financial charges +€8,094
up €8,094, from -€4,909 to €3,184
- Financial income +€2,284
up €2,284 (+217%), from €1,051 to €3,334
- Other operating charges +€1,052
up €1,052 (+195%), from €538 to €1,591
- Taxes +€785
up €785 (+1,513%), from €52 to €837
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €352,630 | €282,214 | -€70,416 | -20.0% |
| Fixed assets | 21/28 | €95,774 | €71,603 | -€24,171 | -25.2% |
| Tangible fixed assets | 22/27 | €95,774 | €71,603 | -€24,171 | -25.2% |
| Plant, machinery and equipment | 23 | €11,932 | €8,803 | -€3,129 | -26.2% |
| Furniture and vehicles | 24 | €83,843 | €62,801 | -€21,042 | -25.1% |
| Current assets | 29/58 | €256,856 | €210,611 | -€46,245 | -18.0% |
| Amounts receivable within one year | 40/41 | €41,014 | €13,798 | -€27,216 | -66.4% |
| Trade receivables | 40 | €7,065 | €12,738 | +€5,673 | +80.3% |
| Other amounts receivable | 41 | €33,949 | €1,060 | -€32,889 | -96.9% |
| Current investments | 50/53 | €200,925 | €159,483 | -€41,443 | -20.6% |
| Cash at bank and in hand | 54/58 | €12,515 | €34,687 | +€22,172 | +177% |
| Deferred charges and accrued income | 490/1 | €2,402 | €2,643 | +€241 | +10.0% |
| Total equity and liabilities | 10/49 | €352,630 | €282,214 | -€70,416 | -20.0% |
| Equity | 10/15 | €245,100 | €221,672 | -€23,428 | -9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €226,500 | €203,072 | -€23,428 | -10.3% |
| Non-distributable reserves | 130/1 | €4,496 | €4,496 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,496 | €4,496 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,750 | €29,750 | = | 0.0% |
| Distributable reserves | 133 | €192,254 | €168,826 | -€23,428 | -12.2% |
| Amounts payable | 17/49 | €107,530 | €60,542 | -€46,988 | -43.7% |
| Amounts payable after more than one year | 17 | €46,917 | €33,060 | -€13,857 | -29.5% |
| Financial debts | 170/4 | €46,917 | €33,060 | -€13,857 | -29.5% |
| Amounts payable within one year | 42/48 | €60,613 | €27,482 | -€33,131 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €18,322 | €13,857 | -€4,465 | -24.4% |
| Trade debts | 44 | €29,951 | €5,032 | -€24,919 | -83.2% |
| Suppliers | 440/4 | €29,951 | €5,032 | -€24,919 | -83.2% |
| Taxes, remuneration and social security | 45 | €11,930 | €8,593 | -€3,337 | -28.0% |
| Taxes | 450/3 | €1,781 | €304 | -€1,477 | -82.9% |
| Remuneration and social security | 454/9 | €10,149 | €8,289 | -€1,860 | -18.3% |
| Other amounts payable | 47/48 | €410 | €0 | -€410 | -100% |
| Remuneration, social security and pensions | 62 | €40,251 | €39,689 | -€562 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,645 | €24,171 | +€526 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €538 | €1,591 | +€1,052 | +195% |
| Gross operating margin | 9900 | €33,715 | €42,709 | +€8,995 | +26.7% |
| Operating profit (loss) | 9901 | -€30,719 | -€22,741 | +€7,978 | +26.0% |
| Financial income | 75/76B | €1,051 | €3,334 | +€2,284 | +217% |
| Recurring financial income | 75 | €1,051 | €3,334 | +€2,284 | +217% |
| Financial charges | 65/66B | -€4,909 | €3,184 | +€8,094 | |
| Recurring financial charges | 65 | -€4,909 | €3,184 | +€8,094 | |
| Profit (loss) for the period before taxes | 9903 | -€24,759 | -€22,591 | +€2,168 | +8.8% |
| Income taxes | 67/77 | €52 | €837 | +€785 | +1,513% |
| Profit (loss) for the period | 9904 | -€24,811 | -€23,428 | +€1,383 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,811 | -€23,428 | +€1,383 | +5.6% |
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 31 October 2026 via checked.be.