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 +€23,006
up €23,006, from €0 to €23,006
of which Trade receivables: +€22,506
- Cash -€13,773
down €13,773 (-23.7%), from €58,021 to €44,248
mainly Receivables within one year (-€23,006) and Investment in fixed assets (net) (-€2,249)
- Deferred charges and accrued income +€1,320
up €1,320 (+2714.0%), from €49 to €1,369
- Reserves +€7,893
up €7,893 (+18.2%), from €43,409 to €51,302
- Tax, wage and social debts +€2,523
up €2,523 (+23.7%), from €10,640 to €13,163
of which Taxes: +€2,523
- Gross operating margin -€12,936
down €12,936 (-51.2%), from €25,289 to €12,354
- Taxes -€2,620
down €2,620 (-56.0%), from €4,677 to €2,057
- Depreciation +€547
up €547 (+45.8%), from €1,193 to €1,740
- Other operating charges -€368
down €368 (-38.6%), from €954 to €585
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 | €60,328 | €71,391 | +€11,062 | +18.3% |
| Fixed assets | 21/28 | €2,259 | €2,768 | +€509 | +22.5% |
| Tangible fixed assets | 22/27 | €2,259 | €2,768 | +€509 | +22.5% |
| Furniture and vehicles | 24 | €2,259 | €2,768 | +€509 | +22.5% |
| Current assets | 29/58 | €58,070 | €68,623 | +€10,553 | +18.2% |
| Amounts receivable within one year | 40/41 | €0 | €23,006 | +€23,006 | |
| Trade receivables | 40 | €0 | €22,506 | +€22,506 | |
| Other amounts receivable | 41 | - | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €58,021 | €44,248 | -€13,773 | -23.7% |
| Deferred charges and accrued income | 490/1 | €49 | €1,369 | +€1,320 | +2714.0% |
| Total equity and liabilities | 10/49 | €60,328 | €71,391 | +€11,062 | +18.3% |
| Equity | 10/15 | €48,409 | €56,302 | +€7,893 | +16.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €43,409 | €51,302 | +€7,893 | +18.2% |
| Distributable reserves | 133 | €43,409 | €51,302 | +€7,893 | +18.2% |
| Amounts payable | 17/49 | €11,919 | €15,088 | +€3,169 | +26.6% |
| Amounts payable within one year | 42/48 | €11,919 | €15,088 | +€3,169 | +26.6% |
| Trade debts | 44 | €1,279 | €1,925 | +€646 | +50.5% |
| Suppliers | 440/4 | €1,279 | €1,925 | +€646 | +50.5% |
| Taxes, remuneration and social security | 45 | €10,640 | €13,163 | +€2,523 | +23.7% |
| Taxes | 450/3 | €10,640 | €13,163 | +€2,523 | +23.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,193 | €1,740 | +€547 | +45.8% |
| Other operating charges | 640/8 | €954 | €585 | -€368 | -38.6% |
| Gross operating margin | 9900 | €25,289 | €12,354 | -€12,936 | -51.2% |
| Operating profit (loss) | 9901 | €23,143 | €10,028 | -€13,115 | -56.7% |
| Financial charges | 65/66B | €108 | €78 | -€30 | -27.7% |
| Recurring financial charges | 65 | €108 | €78 | -€30 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €23,035 | €9,950 | -€13,085 | -56.8% |
| Income taxes | 67/77 | €4,677 | €2,057 | -€2,620 | -56.0% |
| Profit (loss) for the period | 9904 | €18,357 | €7,893 | -€10,464 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,357 | €7,893 | -€10,464 | -57.0% |
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.