SABMA: 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.
SABMA
Largest movements
- Receivables within one year -€140,023
down €140,023 (-52.6%), from €266,143 to €126,119
of which Trade receivables: -€146,062
- Tangible fixed assets -€139,317
down €139,317 (-24.3%), from €573,132 to €433,814
of which Land and buildings: -€92,156
- Deferred charges and accrued income -€48,859
down €48,859 (-96.5%), from €50,653 to €1,794
- Stocks and contracts -€32,652
down €32,652 (-20.8%), from €157,291 to €124,639
- Profit (loss) carried forward -€213,834
down €213,834 (-36.5%), from -€586,479 to -€800,313
- Trade debts -€134,141
down €134,141 (-72.1%), from €186,153 to €52,012
- Other debts +€115,960
up €115,960 (+66.0%), from €175,646 to €291,606
- Debts after one year -€54,921
down €54,921 (-6.7%), from €817,287 to €762,366
- Investment grants -€44,110
no longer reported in 2025 (was €44,110)
- Gross operating margin -€272,499
down €272,499, from €225,559 to -€46,940
- Staff costs -€104,198
down €104,198 (-74.4%), from €140,141 to €35,944
- Write-downs +€50,308
no longer reported in 2025 (was -€50,308)
- Financial charges -€49,379
down €49,379 (-64.2%), from €76,856 to €27,476
- Financial income +€43,209
up €43,209 (+1319.2%), from €3,275 to €46,485
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 | €1,048,332 | €690,846 | -€357,487 | -34.1% |
| Fixed assets | 21/28 | €573,632 | €434,314 | -€139,317 | -24.3% |
| Tangible fixed assets | 22/27 | €573,132 | €433,814 | -€139,317 | -24.3% |
| Land and buildings | 22 | €508,441 | €416,285 | -€92,156 | -18.1% |
| Plant, machinery and equipment | 23 | €17,465 | €6,203 | -€11,262 | -64.5% |
| Furniture and vehicles | 24 | €47,225 | €11,326 | -€35,900 | -76.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €474,701 | €256,532 | -€218,169 | -46.0% |
| Stocks and contracts in progress | 3 | €157,291 | €124,639 | -€32,652 | -20.8% |
| Stocks | 30/36 | €157,291 | €124,639 | -€32,652 | -20.8% |
| Amounts receivable within one year | 40/41 | €266,143 | €126,119 | -€140,023 | -52.6% |
| Trade receivables | 40 | €245,674 | €99,611 | -€146,062 | -59.5% |
| Other amounts receivable | 41 | €20,469 | €26,508 | +€6,039 | +29.5% |
| Cash at bank and in hand | 54/58 | €614 | €3,979 | +€3,365 | +548.1% |
| Deferred charges and accrued income | 490/1 | €50,653 | €1,794 | -€48,859 | -96.5% |
| Total equity and liabilities | 10/49 | €1,048,332 | €690,846 | -€357,487 | -34.1% |
| Equity | 10/15 | -€317,619 | -€575,563 | -€257,944 | -81.2% |
| Contributions | 10/11 | €22,500 | €22,500 | = | 0.0% |
| Reserves | 13 | €202,250 | €202,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200,000 | €200,000 | = | 0.0% |
| Other | 1319 | €200,000 | €200,000 | = | 0.0% |
| Distributable reserves | 133 | €2,250 | €2,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€586,479 | -€800,313 | -€213,834 | -36.5% |
| Investment grants | 15 | €44,110 | - | -€44,110 | |
| Amounts payable | 17/49 | €1,365,952 | €1,266,409 | -€99,543 | -7.3% |
| Amounts payable after more than one year | 17 | €817,287 | €762,366 | -€54,921 | -6.7% |
| Financial debts | 170/4 | €817,287 | €762,366 | -€54,921 | -6.7% |
| Amounts payable within one year | 42/48 | €546,692 | €502,222 | -€44,470 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €58,547 | €55,194 | -€3,353 | -5.7% |
| Financial debts | 43 | €105,645 | €100,000 | -€5,645 | -5.3% |
| Credit institutions | 430/8 | €105,645 | €100,000 | -€5,645 | -5.3% |
| Trade debts | 44 | €186,153 | €52,012 | -€134,141 | -72.1% |
| Suppliers | 440/4 | €186,153 | €52,012 | -€134,141 | -72.1% |
| Taxes, remuneration and social security | 45 | €20,701 | €3,410 | -€17,291 | -83.5% |
| Taxes | 450/3 | €1,595 | €336 | -€1,259 | -78.9% |
| Remuneration and social security | 454/9 | €19,106 | €3,074 | -€16,032 | -83.9% |
| Other amounts payable | 47/48 | €175,646 | €291,606 | +€115,960 | +66.0% |
| Accrued charges and deferred income | 492/3 | €1,973 | €1,821 | -€151 | -7.7% |
| Non-recurring operating income | 76A | €195,501 | €4,534 | -€190,967 | -97.7% |
| Remuneration, social security and pensions | 62 | €140,141 | €35,944 | -€104,198 | -74.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,758 | €131,857 | -€10,901 | -7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€50,308 | - | +€50,308 | |
| Other operating charges | 640/8 | €15,981 | €14,231 | -€1,750 | -10.9% |
| Non-recurring operating charges | 66A | €126 | €3,730 | +€3,605 | +2868.4% |
| Gross operating margin | 9900 | €225,559 | -€46,940 | -€272,499 | |
| Operating profit (loss) | 9901 | -€23,138 | -€232,701 | -€209,564 | -905.7% |
| Financial income | 75/76B | €3,275 | €46,485 | +€43,209 | +1319.2% |
| Recurring financial income | 75 | €3,275 | €46,485 | +€43,209 | +1319.2% |
| Financial charges | 65/66B | €76,856 | €27,476 | -€49,379 | -64.2% |
| Recurring financial charges | 65 | €76,856 | €27,476 | -€49,379 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | -€96,718 | -€213,693 | -€116,975 | -120.9% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€96,858 | -€213,834 | -€116,976 | -120.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,858 | -€213,834 | -€116,976 | -120.8% |
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 7 October 2026 via checked.be.