SAM INVEST: 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 INVEST
Largest movements
- Current investments +€1.1m
up €1.1m (+890%), from €121,228 to €1.2m
- Receivables within one year -€868,316
down €868,316 (-39.1%), from €2.2m to €1.4m
of which Other amounts receivable: -€878,675
- Tangible fixed assets +€320,163
up €320,163 (+10.3%), from €3.1m to €3.4m
of which Land and buildings: +€271,203
- Profit (loss) carried forward +€2.1m
up €2.1m (+101%), from €2.1m to €4.2m
- Other debts -€1.8m
down €1.8m (-49.4%), from €3.6m to €1.8m
- Reserves +€173,500
up €173,500 (+18.0%), from €964,333 to €1.1m
of which Distributable reserves: +€192,100
- Financial income +€191,780
up €191,780 (+9.7%), from €2.0m to €2.2m
- Gross operating margin +€54,897
up €54,897 (+11.3%), from €487,896 to €542,793
- Taxes +€30,975
up €30,975 (+42.6%), from €72,681 to €103,656
- Financial charges +€15,470
up €15,470 (+13,811%), from €112 to €15,582
of which Non-recurring financial charges: +€15,151
- Depreciation +€14,573
up €14,573 (+9.9%), from €147,240 to €161,813
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 | €6,729,637 | €7,292,785 | +€563,147 | +8.4% |
| Fixed assets | 21/28 | €4,053,468 | €4,363,694 | +€310,226 | +7.7% |
| Tangible fixed assets | 22/27 | €3,111,946 | €3,432,109 | +€320,163 | +10.3% |
| Land and buildings | 22 | €2,937,782 | €3,208,985 | +€271,203 | +9.2% |
| Plant, machinery and equipment | 23 | €32,633 | €15,198 | -€17,435 | -53.4% |
| Furniture and vehicles | 24 | €141,192 | €203,684 | +€62,492 | +44.3% |
| Other tangible fixed assets | 26 | €338 | €4,242 | +€3,904 | +1,154% |
| Financial fixed assets | 28 | €941,522 | €931,585 | -€9,937 | -1.1% |
| Current assets | 29/58 | €2,676,170 | €2,929,090 | +€252,921 | +9.5% |
| Amounts receivable within one year | 40/41 | €2,220,300 | €1,351,984 | -€868,316 | -39.1% |
| Trade receivables | 40 | €168,151 | €178,510 | +€10,359 | +6.2% |
| Other amounts receivable | 41 | €2,052,149 | €1,173,474 | -€878,675 | -42.8% |
| Current investments | 50/53 | €121,228 | €1,200,000 | +€1.1m | +890% |
| Cash at bank and in hand | 54/58 | €248,925 | €290,042 | +€41,117 | +16.5% |
| Deferred charges and accrued income | 490/1 | €85,717 | €87,065 | +€1,348 | +1.6% |
| Total equity and liabilities | 10/49 | €6,729,637 | €7,292,785 | +€563,147 | +8.4% |
| Equity | 10/15 | €3,085,944 | €5,376,606 | +€2.3m | +74.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €964,333 | €1,137,833 | +€173,500 | +18.0% |
| Tax-exempt reserves | 132 | €18,600 | - | -€18,600 | |
| Distributable reserves | 133 | €945,733 | €1,137,833 | +€192,100 | +20.3% |
| Profit (loss) carried forward | 14 | €2,103,011 | €4,220,173 | +€2.1m | +101% |
| Amounts payable | 17/49 | €3,643,693 | €1,916,179 | -€1.7m | -47.4% |
| Amounts payable within one year | 42/48 | €3,622,770 | €1,916,179 | -€1.7m | -47.1% |
| Trade debts | 44 | €8,626 | €71,378 | +€62,752 | +728% |
| Suppliers | 440/4 | €8,626 | €71,378 | +€62,752 | +728% |
| Taxes, remuneration and social security | 45 | €53,562 | €42,031 | -€11,531 | -21.5% |
| Taxes | 450/3 | €44,199 | €42,031 | -€2,168 | -4.9% |
| Remuneration and social security | 454/9 | €9,363 | - | -€9,363 | |
| Other amounts payable | 47/48 | €3,560,582 | €1,802,770 | -€1.8m | -49.4% |
| Accrued charges and deferred income | 492/3 | €20,923 | - | -€20,923 | |
| Remuneration, social security and pensions | 62 | €115,831 | €129,886 | +€14,056 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,240 | €161,813 | +€14,573 | +9.9% |
| Other operating charges | 640/8 | €5,743 | €8,296 | +€2,553 | +44.5% |
| Gross operating margin | 9900 | €487,896 | €542,793 | +€54,897 | +11.3% |
| Operating profit (loss) | 9901 | €219,083 | €242,798 | +€23,715 | +10.8% |
| Financial income | 75/76B | €1,975,322 | €2,167,102 | +€191,780 | +9.7% |
| Recurring financial income | 75 | €1,975,322 | €2,167,102 | +€191,780 | +9.7% |
| Financial charges | 65/66B | €112 | €15,582 | +€15,470 | +13,811% |
| Recurring financial charges | 65 | €112 | €431 | +€319 | +285% |
| Non-recurring financial charges | 66B | - | €15,151 | +€15,151 | |
| Profit (loss) for the period before taxes | 9903 | €2,194,292 | €2,394,318 | +€200,026 | +9.1% |
| Income taxes | 67/77 | €72,681 | €103,656 | +€30,975 | +42.6% |
| Profit (loss) for the period | 9904 | €2,121,611 | €2,290,662 | +€169,050 | +8.0% |
| Transfer from tax-exempt reserves | 789 | €232,000 | €192,100 | -€39,900 | -17.2% |
| Transfer to tax-exempt reserves | 689 | €18,600 | €173,500 | +€154,900 | +833% |
| Profit (loss) for the period to be appropriated | 9905 | €2,335,011 | €2,309,262 | -€25,750 | -1.1% |
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 18 October 2026 via checked.be.