S.ALAM: 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.ALAM
Largest movements
- Stocks and contracts -€10,777
down €10,777 (-33.9%), from €31,822 to €21,045
- Cash -€1,441
down €1,441 (-40.4%), from €3,564 to €2,123
mainly Net result for the year (-€13,816) and Trade debts (-€7,557)
- Receivables within one year +€478
up €478 (+77.0%), from €621 to €1,098
- Profit (loss) carried forward -€13,816
down €13,816 (-255%), from -€5,426 to -€19,243
- Tax, wage and social debts +€9,634
up €9,634 (+70.9%), from €13,587 to €23,221
of which Remuneration and social security: +€8,712
- Trade debts -€7,557
down €7,557 (-90.1%), from €8,385 to €827
- Staff costs +€36,834
up €36,834 (+128%), from €28,811 to €65,645
- Gross operating margin +€18,706
up €18,706 (+53.2%), from €35,185 to €53,891
- Depreciation -€4,519
no longer reported in 2025 (was €4,519)
- Other operating charges -€3,822
down €3,822 (-67.0%), from €5,701 to €1,879
- Financial charges -€1,783
down €1,783 (-90.7%), from €1,966 to €183
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 | €36,007 | €24,267 | -€11,740 | -32.6% |
| Current assets | 29/58 | €36,007 | €24,267 | -€11,740 | -32.6% |
| Stocks and contracts in progress | 3 | €31,822 | €21,045 | -€10,777 | -33.9% |
| Stocks | 30/36 | €31,822 | €21,045 | -€10,777 | -33.9% |
| Amounts receivable within one year | 40/41 | €621 | €1,098 | +€478 | +77.0% |
| Other amounts receivable | 41 | €621 | €1,098 | +€478 | +77.0% |
| Cash at bank and in hand | 54/58 | €3,564 | €2,123 | -€1,441 | -40.4% |
| Total equity and liabilities | 10/49 | €36,007 | €24,267 | -€11,740 | -32.6% |
| Equity | 10/15 | €14,019 | €202 | -€13,816 | -98.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €845 | €845 | = | 0.0% |
| Non-distributable reserves | 130/1 | €845 | €845 | = | 0.0% |
| Reserves not available under the articles | 1311 | €845 | €845 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,426 | -€19,243 | -€13,816 | -255% |
| Amounts payable | 17/49 | €21,988 | €24,064 | +€2,077 | +9.4% |
| Amounts payable within one year | 42/48 | €21,988 | €24,064 | +€2,077 | +9.4% |
| Financial debts | 43 | €17 | €17 | = | 0.0% |
| Credit institutions | 430/8 | €17 | €17 | = | 0.0% |
| Trade debts | 44 | €8,385 | €827 | -€7,557 | -90.1% |
| Suppliers | 440/4 | €8,385 | €827 | -€7,557 | -90.1% |
| Taxes, remuneration and social security | 45 | €13,587 | €23,221 | +€9,634 | +70.9% |
| Taxes | 450/3 | €6,594 | €7,516 | +€922 | +14.0% |
| Remuneration and social security | 454/9 | €6,993 | €15,705 | +€8,712 | +125% |
| Remuneration, social security and pensions | 62 | €28,811 | €65,645 | +€36,834 | +128% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,519 | - | -€4,519 | |
| Other operating charges | 640/8 | €5,701 | €1,879 | -€3,822 | -67.0% |
| Gross operating margin | 9900 | €35,185 | €53,891 | +€18,706 | +53.2% |
| Operating profit (loss) | 9901 | -€3,845 | -€13,633 | -€9,788 | -255% |
| Financial charges | 65/66B | €1,966 | €183 | -€1,783 | -90.7% |
| Recurring financial charges | 65 | €1,966 | €183 | -€1,783 | -90.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,812 | -€13,816 | -€8,005 | -138% |
| Profit (loss) for the period | 9904 | -€5,812 | -€13,816 | -€8,005 | -138% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,812 | -€13,816 | -€8,005 | -138% |
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 19 October 2026 via checked.be.