SAM PYNAERT: 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 PYNAERT
Largest movements
- Cash +€21,895
up €21,895 (+96.6%), from €22,657 to €44,552
mainly Net result for the year (+€62,093) and Depreciation (+€34,198)
- Tangible fixed assets -€20,443
down €20,443 (-5.9%), from €344,495 to €324,052
of which Furniture and vehicles: -€22,992
- Stocks and contracts +€10,826
up €10,826 (+45.8%), from €23,649 to €34,475
of which Contracts in progress: +€7,000
- Receivables within one year -€6,740
down €6,740 (-11.7%), from €57,388 to €50,648
of which Other amounts receivable: -€14,889
- Trade debts -€36,144
down €36,144 (-62.7%), from €57,633 to €21,489
- Debts after one year -€32,182
down €32,182 (-19.1%), from €168,363 to €136,181
- Profit (loss) carried forward +€32,093
up €32,093 (+24.4%), from €131,662 to €163,755
- Other debts +€29,384
up €29,384 (+860%), from €3,415 to €32,799
- Tax, wage and social debts +€5,441
up €5,441 (+118%), from €4,620 to €10,061
- Gross operating margin +€35,154
up €35,154 (+38.5%), from €91,383 to €126,537
- Taxes +€13,255
up €13,255 (+152%), from €8,701 to €21,957
- Depreciation +€3,386
up €3,386 (+11.0%), from €30,812 to €34,198
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 | €450,112 | €454,505 | +€4,393 | +1.0% |
| Fixed assets | 21/28 | €344,495 | €324,052 | -€20,443 | -5.9% |
| Tangible fixed assets | 22/27 | €344,495 | €324,052 | -€20,443 | -5.9% |
| Land and buildings | 22 | €233,191 | €225,694 | -€7,497 | -3.2% |
| Plant, machinery and equipment | 23 | €8,755 | €13,910 | +€5,155 | +58.9% |
| Furniture and vehicles | 24 | €98,723 | €75,730 | -€22,992 | -23.3% |
| Other tangible fixed assets | 26 | €3,826 | €8,717 | +€4,891 | +128% |
| Current assets | 29/58 | €105,617 | €130,453 | +€24,836 | +23.5% |
| Stocks and contracts in progress | 3 | €23,649 | €34,475 | +€10,826 | +45.8% |
| Stocks | 30/36 | €15,649 | €19,475 | +€3,826 | +24.5% |
| Contracts in progress | 37 | €8,000 | €15,000 | +€7,000 | +87.5% |
| Amounts receivable within one year | 40/41 | €57,388 | €50,648 | -€6,740 | -11.7% |
| Trade receivables | 40 | €25,669 | €33,819 | +€8,149 | +31.7% |
| Other amounts receivable | 41 | €31,719 | €16,829 | -€14,889 | -46.9% |
| Cash at bank and in hand | 54/58 | €22,657 | €44,552 | +€21,895 | +96.6% |
| Deferred charges and accrued income | 490/1 | €1,924 | €778 | -€1,145 | -59.5% |
| Total equity and liabilities | 10/49 | €450,112 | €454,505 | +€4,393 | +1.0% |
| Equity | 10/15 | €170,824 | €208,015 | +€37,191 | +21.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €26,762 | €31,860 | +€5,098 | +19.1% |
| Distributable reserves | 133 | €26,762 | €31,860 | +€5,098 | +19.1% |
| Profit (loss) carried forward | 14 | €131,662 | €163,755 | +€32,093 | +24.4% |
| Amounts payable | 17/49 | €279,288 | €246,490 | -€32,798 | -11.7% |
| Amounts payable after more than one year | 17 | €168,363 | €136,181 | -€32,182 | -19.1% |
| Financial debts | 170/4 | €168,363 | €136,181 | -€32,182 | -19.1% |
| Amounts payable within one year | 42/48 | €110,924 | €110,308 | -€616 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €31,478 | €32,182 | +€704 | +2.2% |
| Financial debts | 43 | €13,779 | €13,777 | -€2 | 0.0% |
| Credit institutions | 430/8 | €13,779 | €13,777 | -€2 | 0.0% |
| Trade debts | 44 | €57,633 | €21,489 | -€36,144 | -62.7% |
| Suppliers | 440/4 | €57,633 | €21,489 | -€36,144 | -62.7% |
| Taxes, remuneration and social security | 45 | €4,620 | €10,061 | +€5,441 | +118% |
| Taxes | 450/3 | €4,620 | €10,061 | +€5,441 | +118% |
| Other amounts payable | 47/48 | €3,415 | €32,799 | +€29,384 | +860% |
| Non-recurring operating income | 76A | €17,500 | - | -€17,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,812 | €34,198 | +€3,386 | +11.0% |
| Other operating charges | 640/8 | €2,082 | €1,624 | -€458 | -22.0% |
| Gross operating margin | 9900 | €91,383 | €126,537 | +€35,154 | +38.5% |
| Operating profit (loss) | 9901 | €58,489 | €90,715 | +€32,226 | +55.1% |
| Financial income | 75/76B | €211 | €131 | -€80 | -38.0% |
| Recurring financial income | 75 | €211 | €131 | -€80 | -38.0% |
| Financial charges | 65/66B | €7,455 | €6,797 | -€658 | -8.8% |
| Recurring financial charges | 65 | €7,455 | €6,797 | -€658 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €51,245 | €84,049 | +€32,804 | +64.0% |
| Income taxes | 67/77 | €8,701 | €21,957 | +€13,255 | +152% |
| Profit (loss) for the period | 9904 | €42,544 | €62,093 | +€19,549 | +45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,544 | €62,093 | +€19,549 | +45.9% |
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 19 October 2026 via checked.be.