SALMANAZAR: 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.
SALMANAZAR
Largest movements
- Stocks and contracts -€6,261
down €6,261 (-13.1%), from €47,789 to €41,528
- Tangible fixed assets -€5,579
down €5,579 (-38.6%), from €14,458 to €8,879
- Cash +€4,259
up €4,259 (+66.5%), from €6,406 to €10,665
mainly Depreciation (+€8,579) and Stocks and contracts (+€6,261)
- Intangible fixed assets -€3,000
down €3,000 (-12.5%), from €24,090 to €21,090
- Receivables within one year +€2,563
up €2,563 (+26.5%), from €9,655 to €12,218
of which Trade receivables: +€2,094
- Debts after one year -€9,799
down €9,799 (-11.1%), from €88,582 to €78,783
- Profit (loss) carried forward +€1,962
up €1,962 (+11.7%), from -€16,766 to -€14,804
- Gross operating margin +€3,449
up €3,449 (+22.4%), from €15,392 to €18,841
- Other operating charges -€1,952
down €1,952 (-21.0%), from €9,283 to €7,331
- Financial charges -€472
down €472 (-32.0%), from €1,477 to €1,005
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 | €102,723 | €94,380 | -€8,343 | -8.1% |
| Fixed assets | 21/28 | €38,548 | €29,969 | -€8,579 | -22.3% |
| Intangible fixed assets | 21 | €24,090 | €21,090 | -€3,000 | -12.5% |
| Tangible fixed assets | 22/27 | €14,458 | €8,879 | -€5,579 | -38.6% |
| Furniture and vehicles | 24 | €14,458 | €8,879 | -€5,579 | -38.6% |
| Current assets | 29/58 | €64,175 | €64,411 | +€236 | +0.4% |
| Stocks and contracts in progress | 3 | €47,789 | €41,528 | -€6,261 | -13.1% |
| Stocks | 30/36 | €47,789 | €41,528 | -€6,261 | -13.1% |
| Amounts receivable within one year | 40/41 | €9,655 | €12,218 | +€2,563 | +26.5% |
| Trade receivables | 40 | €6,997 | €9,091 | +€2,094 | +29.9% |
| Other amounts receivable | 41 | €2,658 | €3,127 | +€469 | +17.6% |
| Cash at bank and in hand | 54/58 | €6,406 | €10,665 | +€4,259 | +66.5% |
| Deferred charges and accrued income | 490/1 | €325 | - | -€325 | |
| Total equity and liabilities | 10/49 | €102,723 | €94,380 | -€8,343 | -8.1% |
| Equity | 10/15 | -€11,766 | -€9,804 | +€1,962 | +16.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,766 | -€14,804 | +€1,962 | +11.7% |
| Amounts payable | 17/49 | €114,489 | €104,184 | -€10,305 | -9.0% |
| Amounts payable after more than one year | 17 | €88,582 | €78,783 | -€9,799 | -11.1% |
| Financial debts | 170/4 | €88,582 | €78,783 | -€9,799 | -11.1% |
| Amounts payable within one year | 42/48 | €25,345 | €25,401 | +€56 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €10,184 | €9,799 | -€385 | -3.8% |
| Trade debts | 44 | €669 | €1,091 | +€422 | +63.1% |
| Suppliers | 440/4 | €669 | €1,091 | +€422 | +63.1% |
| Taxes, remuneration and social security | 45 | €9,369 | €9,090 | -€279 | -3.0% |
| Taxes | 450/3 | €9,369 | €9,090 | -€279 | -3.0% |
| Other amounts payable | 47/48 | €5,123 | €5,421 | +€298 | +5.8% |
| Accrued charges and deferred income | 492/3 | €562 | - | -€562 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,579 | €8,579 | = | 0.0% |
| Other operating charges | 640/8 | €9,283 | €7,331 | -€1,952 | -21.0% |
| Gross operating margin | 9900 | €15,392 | €18,841 | +€3,449 | +22.4% |
| Operating profit (loss) | 9901 | -€2,470 | €2,931 | +€5,401 | |
| Financial income | 75/76B | - | €36 | +€36 | |
| Recurring financial income | 75 | - | €36 | +€36 | |
| Financial charges | 65/66B | €1,477 | €1,005 | -€472 | -32.0% |
| Recurring financial charges | 65 | €1,477 | €1,005 | -€472 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,947 | €1,962 | +€5,909 | |
| Profit (loss) for the period | 9904 | -€3,947 | €1,962 | +€5,909 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,947 | €1,962 | +€5,909 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.