SAM INTERIM: 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 INTERIM
Largest movements
- Receivables within one year +€224,292
up €224,292 (+57.7%), from €388,969 to €613,261
of which Trade receivables: +€182,612
- Cash -€33,780
down €33,780 (-28.8%), from €117,365 to €83,585
mainly Receivables within one year (-€224,292) and Debts after one year (-€33,642)
- Short-term financial debts +€84,222
up €84,222 (+95.6%), from €88,100 to €172,322
- Trade debts +€51,068
up €51,068 (+77.6%), from €65,803 to €116,871
- Tax, wage and social debts +€48,439
up €48,439 (+24.5%), from €197,589 to €246,028
of which Taxes: +€26,080
- Profit (loss) carried forward +€43,849
up €43,849, from -€1,927 to €41,922
- Debts after one year -€33,642
down €33,642 (-70.4%), from €47,808 to €14,166
- Gross operating margin +€990,745
up €990,745 (+53.3%), from €1.9m to €2.8m
- Staff costs +€944,060
up €944,060 (+52.7%), from €1.8m to €2.7m
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 | €545,736 | €727,909 | +€182,173 | +33.4% |
| Fixed assets | 21/28 | €27,929 | €20,434 | -€7,495 | -26.8% |
| Intangible fixed assets | 21 | €18,464 | €11,235 | -€7,229 | -39.1% |
| Tangible fixed assets | 22/27 | €9,465 | €9,198 | -€267 | -2.8% |
| Furniture and vehicles | 24 | €9,465 | €6,632 | -€2,833 | -29.9% |
| Other tangible fixed assets | 26 | - | €2,566 | +€2,566 | |
| Current assets | 29/58 | €517,807 | €707,476 | +€189,668 | +36.6% |
| Amounts receivable within one year | 40/41 | €388,969 | €613,261 | +€224,292 | +57.7% |
| Trade receivables | 40 | €388,969 | €571,581 | +€182,612 | +46.9% |
| Other amounts receivable | 41 | €0 | €41,680 | +€41,680 | |
| Cash at bank and in hand | 54/58 | €117,365 | €83,585 | -€33,780 | -28.8% |
| Deferred charges and accrued income | 490/1 | €11,473 | €10,630 | -€844 | -7.4% |
| Total equity and liabilities | 10/49 | €545,736 | €727,909 | +€182,173 | +33.4% |
| Equity | 10/15 | €28,073 | €71,922 | +€43,849 | +156.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,927 | €41,922 | +€43,849 | |
| Amounts payable | 17/49 | €517,663 | €655,988 | +€138,324 | +26.7% |
| Amounts payable after more than one year | 17 | €47,808 | €14,166 | -€33,642 | -70.4% |
| Financial debts | 170/4 | €47,808 | €14,166 | -€33,642 | -70.4% |
| Amounts payable within one year | 42/48 | €421,855 | €588,201 | +€166,345 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €42,908 | €52,979 | +€10,072 | +23.5% |
| Financial debts | 43 | €88,100 | €172,322 | +€84,222 | +95.6% |
| Other loans | 439 | €88,100 | €172,322 | +€84,222 | +95.6% |
| Trade debts | 44 | €65,803 | €116,871 | +€51,068 | +77.6% |
| Suppliers | 440/4 | €65,803 | €116,871 | +€51,068 | +77.6% |
| Taxes, remuneration and social security | 45 | €197,589 | €246,028 | +€48,439 | +24.5% |
| Taxes | 450/3 | €70,549 | €96,629 | +€26,080 | +37.0% |
| Remuneration and social security | 454/9 | €127,040 | €149,399 | +€22,359 | +17.6% |
| Other amounts payable | 47/48 | €27,456 | €0 | -€27,456 | -100.0% |
| Accrued charges and deferred income | 492/3 | €48,000 | €53,620 | +€5,621 | +11.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,793,056 | €2,737,116 | +€944,060 | +52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,639 | €11,029 | -€610 | -5.2% |
| Other operating charges | 640/8 | €796 | €9,265 | +€8,469 | +1063.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,858,981 | €2,849,726 | +€990,745 | +53.3% |
| Operating profit (loss) | 9901 | €53,489 | €92,316 | +€38,827 | +72.6% |
| Financial income | 75/76B | €67 | €119 | +€53 | +79.0% |
| Recurring financial income | 75 | €67 | €119 | +€53 | +79.0% |
| Financial charges | 65/66B | €23,683 | €28,098 | +€4,415 | +18.6% |
| Recurring financial charges | 65 | €23,683 | €28,098 | +€4,415 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €29,872 | €64,337 | +€34,465 | +115.4% |
| Income taxes | 67/77 | €6,765 | €20,488 | +€13,724 | +202.9% |
| Profit (loss) for the period | 9904 | €23,108 | €43,849 | +€20,741 | +89.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,108 | €43,849 | +€20,741 | +89.8% |
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 4 October 2026 via checked.be.