SAMGA: 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.
SAMGA
Largest movements
- Tangible fixed assets -€846,726
down €846,726 (-15.2%), from €5.6m to €4.7m
of which Land and buildings: -€435,444
- Cash -€158,713
down €158,713 (-24.2%), from €655,664 to €496,951
mainly Debts after one year (-€667,250) and Current portion of long-term debt (-€191,908)
- Receivables within one year +€131,520
up €131,520 (+15.3%), from €860,924 to €992,443
of which Trade receivables: +€74,410
- Debts after one year -€667,250
down €667,250 (-50.0%), from €1.3m to €667,250
- Current portion of long-term debt -€191,908
down €191,908 (-22.3%), from €859,158 to €667,250
- Other debts -€100,000
down €100,000 (-5.1%), from €2.0m to €1.9m
- Trade debts +€93,341
up €93,341 (+47.6%), from €196,168 to €289,510
- Gross operating margin -€560,729
down €560,729 (-31.1%), from €1.8m to €1.2m
- Taxes -€154,305
down €154,305 (-94.1%), from €163,968 to €9,663
- Other operating charges +€77,319
up €77,319 (+52.2%), from €148,083 to €225,402
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 | €7,382,354 | €6,507,584 | -€874,769 | -11.8% |
| Fixed assets | 21/28 | €5,806,133 | €4,957,725 | -€848,408 | -14.6% |
| Intangible fixed assets | 21 | €29,696 | €18,614 | -€11,082 | -37.3% |
| Tangible fixed assets | 22/27 | €5,569,719 | €4,722,994 | -€846,726 | -15.2% |
| Land and buildings | 22 | €4,478,332 | €4,042,888 | -€435,444 | -9.7% |
| Plant, machinery and equipment | 23 | €421,911 | €323,128 | -€98,783 | -23.4% |
| Furniture and vehicles | 24 | €214,447 | €167,686 | -€46,762 | -21.8% |
| Leasing and similar rights | 25 | €455,029 | €189,292 | -€265,737 | -58.4% |
| Financial fixed assets | 28 | €206,718 | €216,118 | +€9,400 | +4.5% |
| Current assets | 29/58 | €1,576,220 | €1,549,859 | -€26,362 | -1.7% |
| Amounts receivable within one year | 40/41 | €860,924 | €992,443 | +€131,520 | +15.3% |
| Trade receivables | 40 | €485,541 | €559,951 | +€74,410 | +15.3% |
| Other amounts receivable | 41 | €375,383 | €432,492 | +€57,109 | +15.2% |
| Cash at bank and in hand | 54/58 | €655,664 | €496,951 | -€158,713 | -24.2% |
| Deferred charges and accrued income | 490/1 | €59,633 | €60,465 | +€832 | +1.4% |
| Total equity and liabilities | 10/49 | €7,382,354 | €6,507,584 | -€874,769 | -11.8% |
| Equity | 10/15 | €2,880,980 | €2,905,469 | +€24,488 | +0.9% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €1,880,980 | €1,905,469 | +€24,488 | +1.3% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €1,780,980 | €1,805,469 | +€24,488 | +1.4% |
| Amounts payable | 17/49 | €4,501,373 | €3,602,115 | -€899,258 | -20.0% |
| Amounts payable after more than one year | 17 | €1,334,500 | €667,250 | -€667,250 | -50.0% |
| Financial debts | 170/4 | €1,334,500 | €667,250 | -€667,250 | -50.0% |
| Amounts payable within one year | 42/48 | €3,025,241 | €2,826,675 | -€198,567 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €859,158 | €667,250 | -€191,908 | -22.3% |
| Trade debts | 44 | €196,168 | €289,510 | +€93,341 | +47.6% |
| Suppliers | 440/4 | €196,168 | €289,510 | +€93,341 | +47.6% |
| Other amounts payable | 47/48 | €1,969,915 | €1,869,915 | -€100,000 | -5.1% |
| Accrued charges and deferred income | 492/3 | €141,632 | €108,191 | -€33,441 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €975,711 | €960,302 | -€15,409 | -1.6% |
| Other operating charges | 640/8 | €148,083 | €225,402 | +€77,319 | +52.2% |
| Gross operating margin | 9900 | €1,804,377 | €1,243,647 | -€560,729 | -31.1% |
| Operating profit (loss) | 9901 | €680,582 | €57,943 | -€622,639 | -91.5% |
| Financial income | 75/76B | €7,271 | €2,561 | -€4,710 | -64.8% |
| Recurring financial income | 75 | €7,271 | €2,561 | -€4,710 | -64.8% |
| Financial charges | 65/66B | €41,338 | €26,352 | -€14,986 | -36.3% |
| Recurring financial charges | 65 | €41,338 | €26,352 | -€14,986 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €646,515 | €34,152 | -€612,363 | -94.7% |
| Income taxes | 67/77 | €163,968 | €9,663 | -€154,305 | -94.1% |
| Profit (loss) for the period | 9904 | €482,547 | €24,488 | -€458,059 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €482,547 | €24,488 | -€458,059 | -94.9% |
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 10 October 2026 via checked.be.