SAM & THEO: 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 & THEO
Largest movements
- Cash -€10,923
down €10,923 (-43.1%), from €25,361 to €14,438
mainly Net result for the year (-€16,755) and Trade debts (-€4,783)
- Receivables within one year -€946
down €946 (-86.0%), from €1,100 to €154
of which Other amounts receivable: -€491
- Profit (loss) carried forward -€16,755
down €16,755 (-76.4%), from -€21,921 to -€38,676
- Accrued charges and deferred income +€5,330
new in 2025: €5,330
- Trade debts -€4,783
down €4,783 (-83.2%), from €5,752 to €969
- Tax, wage and social debts +€2,217
up €2,217 (+29.7%), from €7,461 to €9,678
of which Remuneration and social security: +€2,040
- Other debts +€2,190
up €2,190 (+12.0%), from €18,301 to €20,491
- Other operating charges +€13,305
new in 2025: €13,305
- Gross operating margin -€2,535
down €2,535 (-26.0%), from €9,740 to €7,204
- Financial charges -€1,030
down €1,030 (-44.2%), from €2,329 to €1,299
- Taxes +€510
up €510 (+191%), from €267 to €777
- Staff costs -€280
down €280 (-3.1%), from €8,907 to €8,627
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 | €29,998 | €18,196 | -€11,802 | -39.3% |
| Fixed assets | 21/28 | €2,400 | €2,400 | = | 0.0% |
| Financial fixed assets | 28 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €27,598 | €15,796 | -€11,802 | -42.8% |
| Stocks and contracts in progress | 3 | €1,137 | €1,204 | +€68 | +5.9% |
| Stocks | 30/36 | €1,137 | €1,204 | +€68 | +5.9% |
| Amounts receivable within one year | 40/41 | €1,100 | €154 | -€946 | -86.0% |
| Trade receivables | 40 | €493 | €38 | -€455 | -92.3% |
| Other amounts receivable | 41 | €607 | €116 | -€491 | -80.9% |
| Cash at bank and in hand | 54/58 | €25,361 | €14,438 | -€10,923 | -43.1% |
| Total equity and liabilities | 10/49 | €29,998 | €18,196 | -€11,802 | -39.3% |
| Equity | 10/15 | -€1,516 | -€18,271 | -€16,755 | -1,105% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,921 | -€38,676 | -€16,755 | -76.4% |
| Amounts payable | 17/49 | €31,514 | €36,467 | +€4,953 | +15.7% |
| Amounts payable within one year | 42/48 | €31,514 | €31,137 | -€377 | -1.2% |
| Trade debts | 44 | €5,752 | €969 | -€4,783 | -83.2% |
| Suppliers | 440/4 | €5,752 | €969 | -€4,783 | -83.2% |
| Taxes, remuneration and social security | 45 | €7,461 | €9,678 | +€2,217 | +29.7% |
| Taxes | 450/3 | €7,034 | €7,211 | +€177 | +2.5% |
| Remuneration and social security | 454/9 | €427 | €2,467 | +€2,040 | +478% |
| Other amounts payable | 47/48 | €18,301 | €20,491 | +€2,190 | +12.0% |
| Accrued charges and deferred income | 492/3 | - | €5,330 | +€5,330 | |
| Remuneration, social security and pensions | 62 | €8,907 | €8,627 | -€280 | -3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €40 | - | -€40 | |
| Other operating charges | 640/8 | - | €13,305 | +€13,305 | |
| Gross operating margin | 9900 | €9,740 | €7,204 | -€2,535 | -26.0% |
| Operating profit (loss) | 9901 | €793 | -€14,728 | -€15,520 | |
| Financial income | 75/76B | €2 | €48 | +€45 | +1,885% |
| Recurring financial income | 75 | €2 | €48 | +€45 | +1,885% |
| Financial charges | 65/66B | €2,329 | €1,299 | -€1,030 | -44.2% |
| Recurring financial charges | 65 | €2,329 | €1,299 | -€1,030 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,533 | -€15,978 | -€14,445 | -942% |
| Income taxes | 67/77 | €267 | €777 | +€510 | +191% |
| Profit (loss) for the period | 9904 | -€1,800 | -€16,755 | -€14,955 | -831% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,800 | -€16,755 | -€14,955 | -831% |
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 15 October 2026 via checked.be.