SAM: 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.
SAM
Largest movements
- Receivables within one year -€10,754
down €10,754 (-57.5%), from €18,702 to €7,949
of which Trade receivables: -€10,000
- Tangible fixed assets -€5,001
down €5,001 (-4.0%), from €125,154 to €120,153
of which Land and buildings: -€5,001
- Debts after one year -€10,490
down €10,490 (-13.6%), from €77,173 to €66,683
- Tax, wage and social debts -€5,002
down €5,002 (-98.4%), from €5,085 to €84
- Short-term financial debts -€2,501
down €2,501 (-79.7%), from €3,138 to €637
- Gross operating margin +€6,568
up €6,568 (+79.7%), from €8,245 to €14,812
- Taxes -€1,429
down €1,429 (-100.0%), from €1,429 to €0
- Other operating charges -€1,246
down €1,246 (-23.2%), from €5,367 to €4,121
- Financial charges -€959
down €959 (-16.9%), from €5,681 to €4,722
- Financial income -€209
down €209 (-100.0%), from €209 to €0
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 | €143,857 | €128,101 | -€15,755 | -11.0% |
| Fixed assets | 21/28 | €125,154 | €120,153 | -€5,001 | -4.0% |
| Tangible fixed assets | 22/27 | €125,154 | €120,153 | -€5,001 | -4.0% |
| Land and buildings | 22 | €125,154 | €120,153 | -€5,001 | -4.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €18,703 | €7,949 | -€10,754 | -57.5% |
| Amounts receivable within one year | 40/41 | €18,702 | €7,949 | -€10,754 | -57.5% |
| Trade receivables | 40 | €10,000 | €0 | -€10,000 | -100.0% |
| Other amounts receivable | 41 | €8,702 | €7,949 | -€754 | -8.7% |
| Cash at bank and in hand | 54/58 | €0 | €0 | -€0 | -100.0% |
| Total equity and liabilities | 10/49 | €143,857 | €128,101 | -€15,755 | -11.0% |
| Equity | 10/15 | €41,070 | €42,038 | +€968 | +2.4% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €34,570 | €35,538 | +€968 | +2.8% |
| Distributable reserves | 133 | €34,570 | €35,538 | +€968 | +2.8% |
| Amounts payable | 17/49 | €102,786 | €86,063 | -€16,723 | -16.3% |
| Amounts payable after more than one year | 17 | €77,173 | €66,683 | -€10,490 | -13.6% |
| Financial debts | 170/4 | €77,173 | €66,683 | -€10,490 | -13.6% |
| Amounts payable within one year | 42/48 | €25,613 | €19,380 | -€6,233 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €10,041 | €10,490 | +€450 | +4.5% |
| Financial debts | 43 | €3,138 | €637 | -€2,501 | -79.7% |
| Credit institutions | 430/8 | €3,138 | €637 | -€2,501 | -79.7% |
| Trade debts | 44 | €3,849 | €3,504 | -€346 | -9.0% |
| Suppliers | 440/4 | €3,849 | €3,504 | -€346 | -9.0% |
| Taxes, remuneration and social security | 45 | €5,085 | €84 | -€5,002 | -98.4% |
| Taxes | 450/3 | €5,085 | €84 | -€5,002 | -98.4% |
| Other amounts payable | 47/48 | €3,500 | €4,666 | +€1,166 | +33.3% |
| Non-recurring operating income | 76A | €6,243 | €0 | -€6,243 | -100.0% |
| Remuneration, social security and pensions | 62 | €202 | €0 | -€202 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,001 | €5,001 | = | 0.0% |
| Other operating charges | 640/8 | €5,367 | €4,121 | -€1,246 | -23.2% |
| Gross operating margin | 9900 | €8,245 | €14,812 | +€6,568 | +79.7% |
| Operating profit (loss) | 9901 | -€2,326 | €5,690 | +€8,016 | |
| Financial income | 75/76B | €209 | €0 | -€209 | -100.0% |
| Recurring financial income | 75 | €209 | €0 | -€209 | -100.0% |
| Financial charges | 65/66B | €5,681 | €4,722 | -€959 | -16.9% |
| Recurring financial charges | 65 | €5,681 | €4,722 | -€959 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,798 | €968 | +€8,766 | |
| Income taxes | 67/77 | €1,429 | €0 | -€1,429 | -100.0% |
| Profit (loss) for the period | 9904 | -€9,227 | €968 | +€10,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,227 | €968 | +€10,195 |
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 12 October 2026 via checked.be.