SAMAX: 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.
SAMAX
Largest movements
- Cash +€86,253
up €86,253 (+28.8%), from €299,649 to €385,902
mainly Net result for the year (+€84,670) and Tax, wage and social debts (+€1,557)
- Reserves +€84,670
up €84,670 (+20.2%), from €420,110 to €504,780
of which Distributable reserves: +€84,670
No income-statement line moved by more than 1% of the activity.
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 | €522,852 | €609,105 | +€86,253 | +16.5% |
| Fixed assets | 21/28 | €223,203 | €223,203 | = | 0.0% |
| Tangible fixed assets | 22/27 | €223,203 | €223,203 | = | 0.0% |
| Land and buildings | 22 | €223,203 | €223,203 | = | 0.0% |
| Current assets | 29/58 | €299,649 | €385,902 | +€86,253 | +28.8% |
| Cash at bank and in hand | 54/58 | €299,649 | €385,902 | +€86,253 | +28.8% |
| Total equity and liabilities | 10/49 | €522,852 | €609,105 | +€86,253 | +16.5% |
| Equity | 10/15 | €521,006 | €605,677 | +€84,670 | +16.3% |
| Contributions | 10/11 | €100,896 | €100,896 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Contributions outside capital | 11 | €896 | €896 | = | 0.0% |
| Share premium | 1100/10 | €896 | €896 | = | 0.0% |
| Reserves | 13 | €420,110 | €504,780 | +€84,670 | +20.2% |
| Non-distributable reserves | 130/1 | €109,808 | €109,808 | = | 0.0% |
| Legal reserve | 130 | €109,808 | €109,808 | = | 0.0% |
| Distributable reserves | 133 | €310,302 | €394,972 | +€84,670 | +27.3% |
| Amounts payable | 17/49 | €1,846 | €3,428 | +€1,582 | +85.7% |
| Amounts payable within one year | 42/48 | €1,846 | €3,428 | +€1,582 | +85.7% |
| Trade debts | 44 | €726 | €751 | +€25 | +3.5% |
| Suppliers | 440/4 | €726 | €751 | +€25 | +3.5% |
| Taxes, remuneration and social security | 45 | €1,120 | €2,677 | +€1,557 | +139% |
| Taxes | 450/3 | €1,120 | €2,677 | +€1,557 | +139% |
| Other operating charges | 640/8 | €50,026 | €51,594 | +€1,569 | +3.1% |
| Gross operating margin | 9900 | €166,535 | €165,851 | -€683 | -0.4% |
| Operating profit (loss) | 9901 | €116,509 | €114,257 | -€2,252 | -1.9% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €116,481 | €114,227 | -€2,253 | -1.9% |
| Income taxes | 67/77 | €29,120 | €29,557 | +€437 | +1.5% |
| Profit (loss) for the period | 9904 | €87,360 | €84,670 | -€2,690 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €87,360 | €84,670 | -€2,690 | -3.1% |
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 16 October 2026 via checked.be.