SAM-Group: what changed
What changed
SAM-Group
NACE 46.474, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€159,965
2024 · €77,357+€82,607
Equity
€505,684
2024 · €345,719+€159,965
Cash
€89,185
2024 · €225,375-€136,190
Balance sheet total
€2.3m
2024 · €1.8m+€479,865
Largest movements
Assets
- Financial fixed assets +€461,528
up €461,528 (+248%), from €186,075 to €647,603
- Receivables within one year +€167,086
up €167,086 (+12.1%), from €1.4m to €1.5m
of which Other amounts receivable: +€285,202
- Cash -€136,190
down €136,190 (-60.4%), from €225,375 to €89,185
mainly Investment in fixed assets (net) (-€461,528) and Receivables within one year (-€167,086)
Equity and liabilities
- Debts after one year +€343,491
up €343,491 (+133%), from €257,543 to €601,034
- Profit (loss) carried forward +€159,965
up €159,965 (+47.4%), from €337,659 to €497,624
- Trade debts -€27,516
down €27,516 (-2.3%), from €1.2m to €1.2m
Income statement
- Gross operating margin +€121,358
up €121,358 (+45.4%), from €267,283 to €388,641
- Write-downs +€36,853
new in 2025: €36,853
- Financial income +€15,923
up €15,923 (+585%), from €2,724 to €18,646
- Taxes +€10,195
up €10,195 (+25.2%), from €40,403 to €50,598
- Staff costs +€4,694
up €4,694 (+3.4%), from €137,330 to €142,024
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€77,357
Gross operating margin
+€121,358
Staff costs
-€4,694
Depreciation
+€2,264
Write-downs
-€36,853
Other operating charges
-€747
Financial income
+€15,923
Financial charges
-€4,449
Taxes
-€10,195
Result 2025
€159,965
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€18,152
Investment
-€461,528
Financing
+€343,491
Cash 2024
€225,375
From operations (derived)
-€18,152
Net result for the year
+€159,965
Depreciation
+€830
Stocks and contracts
+€10,559
Receivables within one year
-€167,086
Deferred charges and accrued income
+€1,170
Trade debts
-€27,516
Tax, wage and social debts
+€3,926
Investment (derived)
-€461,528
Investment in fixed assets (net)
-€461,528
Financing
+€343,491
Debts after one year
+€343,491
Cash 2025
€89,185
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,824,066 | €2,303,931 | +€479,865 | +26.3% |
| Fixed assets | 21/28 | €189,037 | €649,736 | +€460,698 | +244% |
| Tangible fixed assets | 22/27 | €2,962 | €2,132 | -€830 | -28.0% |
| Plant, machinery and equipment | 23 | €2,962 | €2,132 | -€830 | -28.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €186,075 | €647,603 | +€461,528 | +248% |
| Current assets | 29/58 | €1,635,028 | €1,654,195 | +€19,167 | +1.2% |
| Stocks and contracts in progress | 3 | €26,472 | €15,913 | -€10,559 | -39.9% |
| Stocks | 30/36 | €26,472 | €15,913 | -€10,559 | -39.9% |
| Amounts receivable within one year | 40/41 | €1,381,289 | €1,548,374 | +€167,086 | +12.1% |
| Trade receivables | 40 | €1,235,211 | €1,117,094 | -€118,116 | -9.6% |
| Other amounts receivable | 41 | €146,078 | €431,280 | +€285,202 | +195% |
| Cash at bank and in hand | 54/58 | €225,375 | €89,185 | -€136,190 | -60.4% |
| Deferred charges and accrued income | 490/1 | €1,893 | €723 | -€1,170 | -61.8% |
| Total equity and liabilities | 10/49 | €1,824,066 | €2,303,931 | +€479,865 | +26.3% |
| Equity | 10/15 | €345,719 | €505,684 | +€159,965 | +46.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €337,659 | €497,624 | +€159,965 | +47.4% |
| Amounts payable | 17/49 | €1,478,346 | €1,798,247 | +€319,901 | +21.6% |
| Amounts payable after more than one year | 17 | €257,543 | €601,034 | +€343,491 | +133% |
| Other amounts payable | 178/9 | €257,543 | €601,034 | +€343,491 | +133% |
| Amounts payable within one year | 42/48 | €1,220,803 | €1,197,212 | -€23,591 | -1.9% |
| Trade debts | 44 | €1,189,120 | €1,161,604 | -€27,516 | -2.3% |
| Suppliers | 440/4 | €1,189,120 | €1,161,604 | -€27,516 | -2.3% |
| Taxes, remuneration and social security | 45 | €31,683 | €35,609 | +€3,926 | +12.4% |
| Taxes | 450/3 | €3,637 | €5,902 | +€2,264 | +62.2% |
| Remuneration and social security | 454/9 | €28,046 | €29,707 | +€1,661 | +5.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €41,021 | +€41,021 | |
| Remuneration, social security and pensions | 62 | €137,330 | €142,024 | +€4,694 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,094 | €830 | -€2,264 | -73.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €36,853 | +€36,853 | |
| Other operating charges | 640/8 | €2,050 | €2,797 | +€747 | +36.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €267,283 | €388,641 | +€121,358 | +45.4% |
| Operating profit (loss) | 9901 | €124,809 | €206,137 | +€81,328 | +65.2% |
| Financial income | 75/76B | €2,724 | €18,646 | +€15,923 | +585% |
| Recurring financial income | 75 | €2,724 | €18,646 | +€15,923 | +585% |
| Financial charges | 65/66B | €9,773 | €14,221 | +€4,449 | +45.5% |
| Recurring financial charges | 65 | €9,773 | €14,221 | +€4,449 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €117,760 | €210,562 | +€92,802 | +78.8% |
| Income taxes | 67/77 | €40,403 | €50,598 | +€10,195 | +25.2% |
| Profit (loss) for the period | 9904 | €77,357 | €159,965 | +€82,607 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €77,357 | €159,965 | +€82,607 | +107% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.