SalMAR&T: 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.
SalMAR&T
Largest movements
- Tangible fixed assets -€11,027
down €11,027 (-20.2%), from €54,595 to €43,568
of which Leasing and similar rights: -€10,838
- Deferred charges and accrued income -€1,731
down €1,731 (-65.5%), from €2,644 to €914
- Cash -€1,335
down €1,335 (-15.5%), from €8,601 to €7,266
mainly Other debts (-€8,937) and Debts after one year (-€8,266)
- Other debts -€8,937
down €8,937 (-68.2%), from €13,110 to €4,173
- Debts after one year -€8,266
down €8,266 (-32.5%), from €25,420 to €17,154
- Tax, wage and social debts -€7,832
down €7,832 (-54.9%), from €14,276 to €6,444
- Profit (loss) carried forward +€5,494
up €5,494, from -€5,494 to €0
- Short-term financial debts +€2,918
new in 2025: €2,918
- Gross operating margin +€3,832
up €3,832 (+12.6%), from €30,321 to €34,153
- Depreciation +€3,148
up €3,148 (+20.3%), from €15,497 to €18,646
- Other operating charges -€1,423
down €1,423 (-40.4%), from €3,519 to €2,096
- Taxes +€717
up €717 (+19.7%), from €3,639 to €4,356
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 | €83,045 | €68,530 | -€14,515 | -17.5% |
| Fixed assets | 21/28 | €54,595 | €43,568 | -€11,027 | -20.2% |
| Tangible fixed assets | 22/27 | €54,595 | €43,568 | -€11,027 | -20.2% |
| Plant, machinery and equipment | 23 | €11,242 | €11,053 | -€188 | -1.7% |
| Leasing and similar rights | 25 | €43,353 | €32,515 | -€10,838 | -25.0% |
| Current assets | 29/58 | €28,450 | €24,962 | -€3,488 | -12.3% |
| Amounts receivable within one year | 40/41 | €17,205 | €16,783 | -€422 | -2.5% |
| Trade receivables | 40 | €17,205 | €16,138 | -€1,067 | -6.2% |
| Other amounts receivable | 41 | - | €645 | +€645 | |
| Cash at bank and in hand | 54/58 | €8,601 | €7,266 | -€1,335 | -15.5% |
| Deferred charges and accrued income | 490/1 | €2,644 | €914 | -€1,731 | -65.5% |
| Total equity and liabilities | 10/49 | €83,045 | €68,530 | -€14,515 | -17.5% |
| Equity | 10/15 | €14,506 | €20,616 | +€6,110 | +42.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €616 | +€616 | |
| Distributable reserves | 133 | - | €616 | +€616 | |
| Profit (loss) carried forward | 14 | -€5,494 | €0 | +€5,494 | |
| Amounts payable | 17/49 | €68,539 | €47,914 | -€20,625 | -30.1% |
| Amounts payable after more than one year | 17 | €25,420 | €17,154 | -€8,266 | -32.5% |
| Financial debts | 170/4 | €25,420 | €17,154 | -€8,266 | -32.5% |
| Amounts payable within one year | 42/48 | €43,119 | €30,760 | -€12,359 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €7,829 | €8,266 | +€437 | +5.6% |
| Financial debts | 43 | - | €2,918 | +€2,918 | |
| Credit institutions | 430/8 | - | €2,918 | +€2,918 | |
| Trade debts | 44 | €7,904 | €8,960 | +€1,055 | +13.4% |
| Suppliers | 440/4 | €7,904 | €8,960 | +€1,055 | +13.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €14,276 | €6,444 | -€7,832 | -54.9% |
| Taxes | 450/3 | €14,276 | €6,444 | -€7,832 | -54.9% |
| Other amounts payable | 47/48 | €13,110 | €4,173 | -€8,937 | -68.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,497 | €18,646 | +€3,148 | +20.3% |
| Other operating charges | 640/8 | €3,519 | €2,096 | -€1,423 | -40.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €30,321 | €34,153 | +€3,832 | +12.6% |
| Operating profit (loss) | 9901 | €11,305 | €13,411 | +€2,106 | +18.6% |
| Financial income | 75/76B | - | €132 | +€132 | |
| Recurring financial income | 75 | - | €132 | +€132 | |
| Financial charges | 65/66B | €3,181 | €3,077 | -€104 | -3.3% |
| Recurring financial charges | 65 | €3,181 | €3,077 | -€104 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €8,124 | €10,466 | +€2,342 | +28.8% |
| Income taxes | 67/77 | €3,639 | €4,356 | +€717 | +19.7% |
| Profit (loss) for the period | 9904 | €4,485 | €6,110 | +€1,624 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,485 | €6,110 | +€1,624 | +36.2% |
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 26 October 2026 via checked.be.