SAM V: 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 V
Largest movements
- Tangible fixed assets +€982,261
up €982,261 (+590.0%), from €166,478 to €1.1m
of which Land and buildings: +€1.0m
- Cash -€130,199
down €130,199 (-88.2%), from €147,556 to €17,357
mainly Investment in fixed assets (net) (-€1.0m) and Contributions, distributions and other (-€218,000)
- Deferred charges and accrued income -€28,523
down €28,523 (-100.0%), from €28,523 to €0
- Debts after one year +€835,074
up €835,074 (+1061.7%), from €78,658 to €913,732
- Profit (loss) carried forward -€218,011
down €218,011 (-100.0%), from €218,011 to €0
- Reserves +€190,170
new in 2025: €190,170
- Short-term financial debts +€65,451
new in 2025: €65,451
- Tax, wage and social debts -€55,487
down €55,487 (-90.3%), from €61,414 to €5,927
of which Taxes: -€60,238
- Gross operating margin +€43,380
up €43,380 (+12.7%), from €342,887 to €386,267
- Depreciation +€39,056
up €39,056 (+109.9%), from €35,545 to €74,601
- Staff costs +€37,103
up €37,103 (+329.1%), from €11,275 to €48,378
- Other operating charges -€16,476
down €16,476 (-94.4%), from €17,447 to €970
- Financial charges +€8,850
up €8,850 (+372.3%), from €2,377 to €11,227
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 | €448,442 | €1,258,734 | +€810,292 | +180.7% |
| Fixed assets | 21/28 | €220,040 | €1,193,801 | +€973,761 | +442.5% |
| Intangible fixed assets | 21 | €53,562 | €45,062 | -€8,500 | -15.9% |
| Tangible fixed assets | 22/27 | €166,478 | €1,148,740 | +€982,261 | +590.0% |
| Land and buildings | 22 | €38,941 | €1,060,416 | +€1.0m | +2623.1% |
| Plant, machinery and equipment | 23 | €5,541 | €9,995 | +€4,455 | +80.4% |
| Furniture and vehicles | 24 | €121,997 | €78,328 | -€43,668 | -35.8% |
| Current assets | 29/58 | €228,402 | €64,933 | -€163,469 | -71.6% |
| Amounts receivable within one year | 40/41 | €52,324 | €47,576 | -€4,747 | -9.1% |
| Trade receivables | 40 | €23,516 | €29,850 | +€6,335 | +26.9% |
| Other amounts receivable | 41 | €28,808 | €17,726 | -€11,082 | -38.5% |
| Cash at bank and in hand | 54/58 | €147,556 | €17,357 | -€130,199 | -88.2% |
| Deferred charges and accrued income | 490/1 | €28,523 | €0 | -€28,523 | -100.0% |
| Total equity and liabilities | 10/49 | €448,442 | €1,258,734 | +€810,292 | +180.7% |
| Equity | 10/15 | €221,011 | €193,170 | -€27,842 | -12.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Outside capital | 11 | €3,000 | - | -€3,000 | |
| Other | 1109/19 | €3,000 | - | -€3,000 | |
| Reserves | 13 | - | €190,170 | +€190,170 | |
| Distributable reserves | 133 | - | €190,170 | +€190,170 | |
| Profit (loss) carried forward | 14 | €218,011 | €0 | -€218,011 | -100.0% |
| Amounts payable | 17/49 | €227,431 | €1,065,564 | +€838,133 | +368.5% |
| Amounts payable after more than one year | 17 | €78,658 | €913,732 | +€835,074 | +1061.7% |
| Financial debts | 170/4 | €78,658 | €913,732 | +€835,074 | +1061.7% |
| Amounts payable within one year | 42/48 | €148,773 | €151,833 | +€3,060 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €84,644 | €79,846 | -€4,797 | -5.7% |
| Financial debts | 43 | - | €65,451 | +€65,451 | |
| Credit institutions | 430/8 | - | €65,451 | +€65,451 | |
| Trade debts | 44 | €2,716 | €608 | -€2,108 | -77.6% |
| Suppliers | 440/4 | €2,716 | €608 | -€2,108 | -77.6% |
| Taxes, remuneration and social security | 45 | €61,414 | €5,927 | -€55,487 | -90.3% |
| Taxes | 450/3 | €60,238 | €0 | -€60,238 | -100.0% |
| Remuneration and social security | 454/9 | €1,175 | €5,927 | +€4,752 | +404.4% |
| Remuneration, social security and pensions | 62 | €11,275 | €48,378 | +€37,103 | +329.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,545 | €74,601 | +€39,056 | +109.9% |
| Other operating charges | 640/8 | €17,447 | €970 | -€16,476 | -94.4% |
| Gross operating margin | 9900 | €342,887 | €386,267 | +€43,380 | +12.7% |
| Operating profit (loss) | 9901 | €278,620 | €262,317 | -€16,304 | -5.9% |
| Financial income | 75/76B | €2,436 | €1,761 | -€674 | -27.7% |
| Recurring financial income | 75 | €2,436 | €1,761 | -€674 | -27.7% |
| Financial charges | 65/66B | €2,377 | €11,227 | +€8,850 | +372.3% |
| Recurring financial charges | 65 | €2,377 | €11,227 | +€8,850 | +372.3% |
| Profit (loss) for the period before taxes | 9903 | €278,679 | €252,852 | -€25,828 | -9.3% |
| Income taxes | 67/77 | €66,534 | €62,693 | -€3,840 | -5.8% |
| Profit (loss) for the period | 9904 | €212,146 | €190,159 | -€21,987 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €212,146 | €190,159 | -€21,987 | -10.4% |
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 8 October 2026 via checked.be.