SAMUEL ZUNE: 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.
SAMUEL ZUNE
Largest movements
- Tangible fixed assets +€298,913
up €298,913 (+85.8%), from €348,550 to €647,463
of which Land and buildings: +€299,609
- Receivables within one year -€19,115
down €19,115 (-19.2%), from €99,772 to €80,658
of which Other amounts receivable: -€13,361
- Debts after one year +€176,152
up €176,152 (+155%), from €113,386 to €289,539
of which Financial debts: +€176,152
- Other debts +€137,281
new in 2025: €137,281
- Current portion of long-term debt -€31,500
down €31,500 (-63.8%), from €49,344 to €17,844
- Trade debts -€23,360
down €23,360 (-18.6%), from €125,480 to €102,120
- Tax, wage and social debts +€9,584
up €9,584 (+32.7%), from €29,333 to €38,917
- Depreciation +€11,133
up €11,133 (+61.0%), from €18,260 to €29,393
- Financial charges +€6,973
up €6,973 (+142%), from €4,921 to €11,895
- Financial income +€4,527
new in 2025: €4,527
- Taxes +€3,714
up €3,714 (+33.4%), from €11,127 to €14,841
- Gross operating margin +€3,101
up €3,101 (+5.1%), from €60,454 to €63,555
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 | €451,634 | €728,352 | +€276,717 | +61.3% |
| Fixed assets | 21/28 | €348,550 | €647,463 | +€298,913 | +85.8% |
| Tangible fixed assets | 22/27 | €348,550 | €647,463 | +€298,913 | +85.8% |
| Land and buildings | 22 | €345,374 | €644,983 | +€299,609 | +86.7% |
| Furniture and vehicles | 24 | €3,176 | €2,481 | -€695 | -21.9% |
| Current assets | 29/58 | €103,084 | €80,888 | -€22,196 | -21.5% |
| Amounts receivable within one year | 40/41 | €99,772 | €80,658 | -€19,115 | -19.2% |
| Trade receivables | 40 | €17,937 | €12,183 | -€5,754 | -32.1% |
| Other amounts receivable | 41 | €81,836 | €68,475 | -€13,361 | -16.3% |
| Cash at bank and in hand | 54/58 | €3,166 | €231 | -€2,935 | -92.7% |
| Deferred charges and accrued income | 490/1 | €146 | €0 | -€146 | -100% |
| Total equity and liabilities | 10/49 | €451,634 | €728,352 | +€276,717 | +61.3% |
| Equity | 10/15 | €134,090 | €142,650 | +€8,560 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,554 | €86,113 | +€8,560 | +11.0% |
| Distributable reserves | 133 | €77,554 | €86,113 | +€8,560 | +11.0% |
| Profit (loss) carried forward | 14 | €37,937 | €37,937 | = | 0.0% |
| Amounts payable | 17/49 | €317,544 | €585,702 | +€268,158 | +84.4% |
| Amounts payable after more than one year | 17 | €113,386 | €289,539 | +€176,152 | +155% |
| Financial debts | 170/4 | €86,161 | €262,314 | +€176,152 | +204% |
| Other amounts payable | 178/9 | €27,225 | €27,225 | = | 0.0% |
| Amounts payable within one year | 42/48 | €204,158 | €296,163 | +€92,005 | +45.1% |
| Current portion of amounts payable after more than one year | 42 | €49,344 | €17,844 | -€31,500 | -63.8% |
| Trade debts | 44 | €125,480 | €102,120 | -€23,360 | -18.6% |
| Suppliers | 440/4 | €125,480 | €102,120 | -€23,360 | -18.6% |
| Taxes, remuneration and social security | 45 | €29,333 | €38,917 | +€9,584 | +32.7% |
| Taxes | 450/3 | €29,333 | €38,917 | +€9,584 | +32.7% |
| Other amounts payable | 47/48 | - | €137,281 | +€137,281 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,260 | €29,393 | +€11,133 | +61.0% |
| Other operating charges | 640/8 | €4,722 | €3,394 | -€1,328 | -28.1% |
| Gross operating margin | 9900 | €60,454 | €63,555 | +€3,101 | +5.1% |
| Operating profit (loss) | 9901 | €37,472 | €30,768 | -€6,704 | -17.9% |
| Financial income | 75/76B | - | €4,527 | +€4,527 | |
| Recurring financial income | 75 | - | €4,527 | +€4,527 | |
| Financial charges | 65/66B | €4,921 | €11,895 | +€6,973 | +142% |
| Recurring financial charges | 65 | €4,921 | €11,895 | +€6,973 | +142% |
| Profit (loss) for the period before taxes | 9903 | €32,551 | €23,401 | -€9,150 | -28.1% |
| Income taxes | 67/77 | €11,127 | €14,841 | +€3,714 | +33.4% |
| Profit (loss) for the period | 9904 | €21,424 | €8,560 | -€12,864 | -60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,424 | €8,560 | -€12,864 | -60.0% |
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 26 October 2026 via checked.be.