SAM: 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.
SAM
Largest movements
- Receivables within one year +€31,768
up €31,768 (+451.7%), from €7,034 to €38,801
of which Trade receivables: +€28,511
- Other debts -€48,642
down €48,642 (-35.4%), from €137,533 to €88,892
- Trade debts +€42,865
up €42,865 (+628.1%), from €6,824 to €49,690
- Reserves +€28,000
up €28,000 (+1400.0%), from €2,000 to €30,000
- Profit (loss) carried forward +€19,545
up €19,545 (+92.7%), from -€21,081 to -€1,536
- Short-term financial debts -€11,510
down €11,510 (-83.1%), from €13,846 to €2,335
- Gross operating margin +€46,386
up €46,386 (+159.2%), from €29,134 to €75,521
- Taxes +€10,849
up €10,849 (+9691.5%), from €112 to €10,961
- Financial charges -€1,950
down €1,950 (-34.8%), from €5,597 to €3,646
- Depreciation +€1,482
up €1,482 (+18.2%), from €8,122 to €9,603
- Other operating charges +€1,461
up €1,461 (+80.5%), from €1,816 to €3,277
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €225,789 | €258,286 | +€32,497 | +14.4% |
| Fixed assets | 21/28 | €216,979 | €217,701 | +€722 | +0.3% |
| Tangible fixed assets | 22/27 | €216,979 | €217,701 | +€722 | +0.3% |
| Land and buildings | 22 | €213,836 | €206,719 | -€7,117 | -3.3% |
| Plant, machinery and equipment | 23 | €3,143 | €5,682 | +€2,539 | +80.8% |
| Furniture and vehicles | 24 | - | €5,300 | +€5,300 | |
| Current assets | 29/58 | €8,811 | €40,585 | +€31,774 | +360.6% |
| Amounts receivable within one year | 40/41 | €7,034 | €38,801 | +€31,768 | +451.7% |
| Trade receivables | 40 | €6,799 | €35,310 | +€28,511 | +419.3% |
| Other amounts receivable | 41 | €235 | €3,491 | +€3,257 | +1388.8% |
| Deferred charges and accrued income | 490/1 | €1,777 | €1,784 | +€7 | +0.4% |
| Total equity and liabilities | 10/49 | €225,789 | €258,286 | +€32,497 | +14.4% |
| Equity | 10/15 | €919 | €48,464 | +€47,545 | +5176.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €30,000 | +€28,000 | +1400.0% |
| Distributable reserves | 133 | €2,000 | €30,000 | +€28,000 | +1400.0% |
| Profit (loss) carried forward | 14 | -€21,081 | -€1,536 | +€19,545 | +92.7% |
| Amounts payable | 17/49 | €224,871 | €209,822 | -€15,049 | -6.7% |
| Amounts payable after more than one year | 17 | €57,661 | €48,368 | -€9,293 | -16.1% |
| Financial debts | 170/4 | €57,661 | €48,368 | -€9,293 | -16.1% |
| Amounts payable within one year | 42/48 | €167,210 | €161,454 | -€5,756 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €9,007 | €9,293 | +€286 | +3.2% |
| Financial debts | 43 | €13,846 | €2,335 | -€11,510 | -83.1% |
| Credit institutions | 430/8 | €13,846 | €2,335 | -€11,510 | -83.1% |
| Trade debts | 44 | €6,824 | €49,690 | +€42,865 | +628.1% |
| Suppliers | 440/4 | €6,824 | €49,690 | +€42,865 | +628.1% |
| Taxes, remuneration and social security | 45 | - | €11,245 | +€11,245 | |
| Taxes | 450/3 | - | €11,245 | +€11,245 | |
| Other amounts payable | 47/48 | €137,533 | €88,892 | -€48,642 | -35.4% |
| Remuneration, social security and pensions | 62 | €182 | €1,032 | +€850 | +466.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,122 | €9,603 | +€1,482 | +18.2% |
| Other operating charges | 640/8 | €1,816 | €3,277 | +€1,461 | +80.5% |
| Non-recurring operating charges | 66A | €6,017 | - | -€6,017 | |
| Gross operating margin | 9900 | €29,134 | €75,521 | +€46,386 | +159.2% |
| Operating profit (loss) | 9901 | €12,998 | €61,608 | +€48,611 | +374.0% |
| Financial income | 75/76B | €36 | €544 | +€509 | +1419.3% |
| Recurring financial income | 75 | €36 | €544 | +€509 | +1419.3% |
| Financial charges | 65/66B | €5,597 | €3,646 | -€1,950 | -34.8% |
| Recurring financial charges | 65 | €5,597 | €3,646 | -€1,950 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €7,437 | €58,506 | +€51,069 | +686.7% |
| Income taxes | 67/77 | €112 | €10,961 | +€10,849 | +9691.5% |
| Profit (loss) for the period | 9904 | €7,325 | €47,545 | +€40,221 | +549.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,325 | €47,545 | +€40,221 | +549.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.