SAM Venture: 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 Venture
Largest movements
- Tangible fixed assets +€163,060
up €163,060 (+123.0%), from €132,589 to €295,649
of which Land and buildings: +€175,919
- Receivables within one year -€27,001
down €27,001 (-53.3%), from €50,659 to €23,659
of which Trade receivables: -€27,139
- Debts after one year +€135,006
up €135,006 (+168.8%), from €80,002 to €215,008
- Profit (loss) carried forward +€42,539
up €42,539 (+192.5%), from €22,102 to €64,641
- Trade debts -€32,107
down €32,107 (-62.9%), from €51,043 to €18,936
- Other debts -€12,196
down €12,196 (-25.8%), from €47,322 to €35,127
- Gross operating margin +€40,201
up €40,201 (+83.7%), from €48,049 to €88,250
- Depreciation +€9,637
up €9,637 (+92.5%), from €10,419 to €20,056
- Financial charges +€5,569
up €5,569 (+93.8%), from €5,935 to €11,504
- Taxes +€3,218
up €3,218 (+40.9%), from €7,875 to €11,093
- Other operating charges +€3,067
new in 2025: €3,067
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 | €231,702 | €366,479 | +€134,777 | +58.2% |
| Fixed assets | 21/28 | €133,624 | €296,684 | +€163,060 | +122.0% |
| Tangible fixed assets | 22/27 | €132,589 | €295,649 | +€163,060 | +123.0% |
| Land and buildings | 22 | €86,789 | €262,708 | +€175,919 | +202.7% |
| Furniture and vehicles | 24 | €45,801 | €32,941 | -€12,860 | -28.1% |
| Financial fixed assets | 28 | €1,035 | €1,035 | = | 0.0% |
| Current assets | 29/58 | €98,078 | €69,796 | -€28,282 | -28.8% |
| Amounts receivable after more than one year | 29 | €28,280 | €28,280 | = | 0.0% |
| Other amounts receivable | 291 | €28,280 | €28,280 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,659 | €23,659 | -€27,001 | -53.3% |
| Trade receivables | 40 | €35,736 | €8,597 | -€27,139 | -75.9% |
| Other amounts receivable | 41 | €14,923 | €15,061 | +€138 | +0.9% |
| Cash at bank and in hand | 54/58 | €19,073 | €17,857 | -€1,216 | -6.4% |
| Deferred charges and accrued income | 490/1 | €66 | - | -€66 | |
| Total equity and liabilities | 10/49 | €231,702 | €366,479 | +€134,777 | +58.2% |
| Equity | 10/15 | €24,102 | €66,641 | +€42,539 | +176.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,102 | €64,641 | +€42,539 | +192.5% |
| Amounts payable | 17/49 | €207,600 | €299,838 | +€92,238 | +44.4% |
| Amounts payable after more than one year | 17 | €80,002 | €215,008 | +€135,006 | +168.8% |
| Financial debts | 170/4 | €80,002 | €215,008 | +€135,006 | +168.8% |
| Amounts payable within one year | 42/48 | €127,380 | €84,830 | -€42,550 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €25,330 | €26,994 | +€1,664 | +6.6% |
| Trade debts | 44 | €51,043 | €18,936 | -€32,107 | -62.9% |
| Suppliers | 440/4 | €51,043 | €18,936 | -€32,107 | -62.9% |
| Taxes, remuneration and social security | 45 | €3,684 | €3,773 | +€89 | +2.4% |
| Taxes | 450/3 | €2,564 | €3,773 | +€1,209 | +47.2% |
| Remuneration and social security | 454/9 | €1,120 | - | -€1,120 | |
| Other amounts payable | 47/48 | €47,322 | €35,127 | -€12,196 | -25.8% |
| Accrued charges and deferred income | 492/3 | €218 | - | -€218 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,419 | €20,056 | +€9,637 | +92.5% |
| Other operating charges | 640/8 | - | €3,067 | +€3,067 | |
| Gross operating margin | 9900 | €48,049 | €88,250 | +€40,201 | +83.7% |
| Operating profit (loss) | 9901 | €37,630 | €65,128 | +€27,498 | +73.1% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €5,935 | €11,504 | +€5,569 | +93.8% |
| Recurring financial charges | 65 | €5,935 | €11,504 | +€5,569 | +93.8% |
| Profit (loss) for the period before taxes | 9903 | €31,695 | €53,632 | +€21,937 | +69.2% |
| Income taxes | 67/77 | €7,875 | €11,093 | +€3,218 | +40.9% |
| Profit (loss) for the period | 9904 | €23,820 | €42,539 | +€18,719 | +78.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,820 | €42,539 | +€18,719 | +78.6% |
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 6 October 2026 via checked.be.