SAMBAT 2: 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.
SAMBAT 2
Largest movements
- Tangible fixed assets +€4.2m
up €4.2m (+50.0%), from €8.4m to €12.7m
of which Assets under construction and advance payments: +€4.3m
- Debts after one year +€4.9m
up €4.9m (+46.6%), from €10.5m to €15.3m
- Profit (loss) carried forward -€477,392
down €477,392 (-17.0%), from -€2.8m to -€3.3m
- Current portion of long-term debt +€318,211
new in 2025: €318,211
- Tax, wage and social debts -€243,576
no longer reported in 2025 (was €243,576)
- Trade debts -€231,817
down €231,817 (-57.8%), from €400,847 to €169,030
- Other operating charges -€235,111
down €235,111 (-83.9%), from €280,111 to €45,001
- Gross operating margin +€219,279
up €219,279, from -€34,067 to €185,212
- Financial charges +€106,653
up €106,653 (+26.8%), from €397,767 to €504,420
- Depreciation +€5,835
up €5,835 (+5.4%), from €107,348 to €113,183
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 | €8,520,523 | €12,719,063 | +€4.2m | +49.3% |
| Fixed assets | 21/28 | €8,433,568 | €12,653,033 | +€4.2m | +50.0% |
| Tangible fixed assets | 22/27 | €8,433,568 | €12,653,033 | +€4.2m | +50.0% |
| Land and buildings | 22 | €3,804,091 | €3,715,990 | -€88,101 | -2.3% |
| Other tangible fixed assets | 26 | €922,187 | €897,105 | -€25,082 | -2.7% |
| Assets under construction and advance payments | 27 | €3,707,290 | €8,039,938 | +€4.3m | +117% |
| Current assets | 29/58 | €86,955 | €66,029 | -€20,926 | -24.1% |
| Amounts receivable within one year | 40/41 | €11,853 | €4,590 | -€7,263 | -61.3% |
| Trade receivables | 40 | €2,893 | - | -€2,893 | |
| Other amounts receivable | 41 | €8,960 | €4,590 | -€4,369 | -48.8% |
| Cash at bank and in hand | 54/58 | €45,713 | €35,272 | -€10,441 | -22.8% |
| Deferred charges and accrued income | 490/1 | €29,389 | €26,167 | -€3,222 | -11.0% |
| Total equity and liabilities | 10/49 | €8,520,523 | €12,719,063 | +€4.2m | +49.3% |
| Equity | 10/15 | -€2,752,393 | -€3,229,785 | -€477,392 | -17.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,813,893 | -€3,291,285 | -€477,392 | -17.0% |
| Amounts payable | 17/49 | €11,272,916 | €15,948,848 | +€4.7m | +41.5% |
| Amounts payable after more than one year | 17 | €10,466,083 | €15,339,287 | +€4.9m | +46.6% |
| Financial debts | 170/4 | €10,466,083 | €15,339,287 | +€4.9m | +46.6% |
| Amounts payable within one year | 42/48 | €644,423 | €487,240 | -€157,183 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | - | €318,211 | +€318,211 | |
| Trade debts | 44 | €400,847 | €169,030 | -€231,817 | -57.8% |
| Suppliers | 440/4 | €400,847 | €169,030 | -€231,817 | -57.8% |
| Taxes, remuneration and social security | 45 | €243,576 | - | -€243,576 | |
| Taxes | 450/3 | €243,576 | - | -€243,576 | |
| Accrued charges and deferred income | 492/3 | €162,410 | €122,321 | -€40,089 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,348 | €113,183 | +€5,835 | +5.4% |
| Other operating charges | 640/8 | €280,111 | €45,001 | -€235,111 | -83.9% |
| Gross operating margin | 9900 | -€34,067 | €185,212 | +€219,279 | |
| Operating profit (loss) | 9901 | -€421,527 | €27,028 | +€448,555 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €397,767 | €504,420 | +€106,653 | +26.8% |
| Recurring financial charges | 65 | €397,767 | €504,420 | +€106,653 | +26.8% |
| Profit (loss) for the period before taxes | 9903 | -€819,294 | -€477,392 | +€341,902 | +41.7% |
| Profit (loss) for the period | 9904 | -€819,294 | -€477,392 | +€341,902 | +41.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€819,294 | -€477,392 | +€341,902 | +41.7% |
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 14 October 2026 via checked.be.