SAM and me: 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 and me
Largest movements
- Tangible fixed assets +€104,923
up €104,923 (+3.2%), from €3.3m to €3.4m
of which Plant, machinery and equipment: +€138,727
- Intangible fixed assets -€91,901
down €91,901 (-11.8%), from €780,778 to €688,877
- Cash +€71,626
up €71,626 (+177%), from €40,442 to €112,068
mainly Depreciation (+€162,179) and Other debts (+€92,202)
- Receivables within one year +€56,632
up €56,632 (+531%), from €10,670 to €67,302
of which Trade receivables: +€58,410
- Other debts +€92,202
up €92,202 (+823%), from €11,198 to €103,400
- Reserves -€91,901
down €91,901 (-9.1%), from €1.0m to €913,728
of which Tax-exempt reserves: -€91,901
- Debts after one year +€47,404
up €47,404 (+3.2%), from €1.5m to €1.5m
of which Other amounts payable: +€50,000
- Gross operating margin -€58,151
down €58,151 (-21.9%), from €265,018 to €206,867
- Taxes -€12,050
down €12,050 (-47.0%), from €25,656 to €13,606
- Depreciation -€5,456
down €5,456 (-3.3%), from €167,635 to €162,179
- Financial charges -€5,454
down €5,454 (-8.2%), from €66,816 to €61,362
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 | €4,165,631 | €4,306,549 | +€140,918 | +3.4% |
| Fixed assets | 21/28 | €4,107,144 | €4,120,167 | +€13,023 | +0.3% |
| Intangible fixed assets | 21 | €780,778 | €688,877 | -€91,901 | -11.8% |
| Tangible fixed assets | 22/27 | €3,325,710 | €3,430,633 | +€104,923 | +3.2% |
| Land and buildings | 22 | €3,142,303 | €3,108,499 | -€33,804 | -1.1% |
| Plant, machinery and equipment | 23 | €183,407 | €322,134 | +€138,727 | +75.6% |
| Financial fixed assets | 28 | €656 | €656 | = | 0.0% |
| Current assets | 29/58 | €58,487 | €186,382 | +€127,895 | +219% |
| Amounts receivable within one year | 40/41 | €10,670 | €67,302 | +€56,632 | +531% |
| Trade receivables | 40 | €6,548 | €64,958 | +€58,410 | +892% |
| Other amounts receivable | 41 | €4,122 | €2,344 | -€1,778 | -43.1% |
| Cash at bank and in hand | 54/58 | €40,442 | €112,068 | +€71,626 | +177% |
| Deferred charges and accrued income | 490/1 | €7,375 | €7,012 | -€363 | -4.9% |
| Total equity and liabilities | 10/49 | €4,165,631 | €4,306,549 | +€140,918 | +3.4% |
| Equity | 10/15 | €2,454,800 | €2,404,457 | -€50,342 | -2.1% |
| Contributions | 10/11 | €555,000 | €555,000 | = | 0.0% |
| Capital | 10 | €555,000 | €555,000 | = | 0.0% |
| Issued capital | 100 | €555,000 | €555,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,900,000 | €1,900,000 | = | 0.0% |
| Reserves | 13 | €1,005,629 | €913,728 | -€91,901 | -9.1% |
| Non-distributable reserves | 130/1 | €6,979 | €6,979 | = | 0.0% |
| Legal reserve | 130 | €6,979 | €6,979 | = | 0.0% |
| Tax-exempt reserves | 132 | €998,650 | €906,749 | -€91,901 | -9.2% |
| Profit (loss) carried forward | 14 | -€1,005,829 | -€964,271 | +€41,558 | +4.1% |
| Provisions and deferred taxes | 16 | €72,624 | €72,624 | = | 0.0% |
| Deferred taxes | 168 | €72,624 | €72,624 | = | 0.0% |
| Amounts payable | 17/49 | €1,638,207 | €1,829,467 | +€191,260 | +11.7% |
| Amounts payable after more than one year | 17 | €1,473,228 | €1,520,632 | +€47,404 | +3.2% |
| Financial debts | 170/4 | €1,377,778 | €1,375,182 | -€2,596 | -0.2% |
| Other amounts payable | 178/9 | €95,450 | €145,450 | +€50,000 | +52.4% |
| Amounts payable within one year | 42/48 | €154,424 | €302,192 | +€147,768 | +95.7% |
| Current portion of amounts payable after more than one year | 42 | €106,667 | €134,667 | +€28,000 | +26.2% |
| Trade debts | 44 | €29,617 | €53,611 | +€23,994 | +81.0% |
| Suppliers | 440/4 | €29,617 | €53,611 | +€23,994 | +81.0% |
| Taxes, remuneration and social security | 45 | €6,943 | €10,515 | +€3,572 | +51.4% |
| Taxes | 450/3 | €6,943 | €10,515 | +€3,572 | +51.4% |
| Other amounts payable | 47/48 | €11,198 | €103,400 | +€92,202 | +823% |
| Accrued charges and deferred income | 492/3 | €10,555 | €6,643 | -€3,912 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,635 | €162,179 | -€5,456 | -3.3% |
| Other operating charges | 640/8 | €19,895 | €20,063 | +€167 | +0.8% |
| Gross operating margin | 9900 | €265,018 | €206,867 | -€58,151 | -21.9% |
| Operating profit (loss) | 9901 | €77,488 | €24,626 | -€52,862 | -68.2% |
| Financial income | 75/76B | €52 | - | -€52 | |
| Recurring financial income | 75 | €52 | - | -€52 | |
| Financial charges | 65/66B | €66,816 | €61,362 | -€5,454 | -8.2% |
| Recurring financial charges | 65 | €66,816 | €61,362 | -€5,454 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €10,724 | -€36,736 | -€47,460 | |
| Income taxes | 67/77 | €25,656 | €13,606 | -€12,050 | -47.0% |
| Profit (loss) for the period | 9904 | -€14,932 | -€50,342 | -€35,410 | -237% |
| Transfer from tax-exempt reserves | 789 | €91,901 | €91,901 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,968 | €41,558 | -€35,410 | -46.0% |
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.