SAMVAL: 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.
SAMVAL
Largest movements
- Tangible fixed assets +€55,800
up €55,800 (+42.9%), from €130,078 to €185,878
of which Plant, machinery and equipment: +€35,376
- Cash +€43,140
up €43,140 (+65.9%), from €65,475 to €108,616
mainly Net result for the year (+€84,444) and Depreciation (+€42,550)
- Receivables within one year -€3,558
down €3,558 (-38.8%), from €9,181 to €5,623
of which Trade receivables: -€9,181
- Reserves +€40,000
up €40,000 (+54.3%), from €73,660 to €113,660
of which Distributable reserves: +€40,000
- Accrued charges and deferred income +€29,249
up €29,249 (+151%), from €19,309 to €48,558
- Tax, wage and social debts +€18,412
up €18,412 (+74.8%), from €24,612 to €43,023
of which Taxes: +€22,339
- Trade debts +€14,979
up €14,979 (+82.9%), from €18,068 to €33,047
- Current portion of long-term debt -€9,974
no longer reported in 2025 (was €9,974)
- Gross operating margin +€29,019
up €29,019 (+13.2%), from €219,068 to €248,088
- Taxes -€12,943
down €12,943 (-33.5%), from €38,582 to €25,639
- Depreciation +€11,672
up €11,672 (+37.8%), from €30,878 to €42,550
- Staff costs +€6,846
up €6,846 (+9.9%), from €69,134 to €75,980
- Financial charges -€3,262
down €3,262 (-83.0%), from €3,928 to €666
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 | €254,539 | €349,908 | +€95,369 | +37.5% |
| Fixed assets | 21/28 | €136,870 | €192,670 | +€55,800 | +40.8% |
| Tangible fixed assets | 22/27 | €130,078 | €185,878 | +€55,800 | +42.9% |
| Land and buildings | 22 | €29,051 | €25,785 | -€3,265 | -11.2% |
| Plant, machinery and equipment | 23 | €11,625 | €47,001 | +€35,376 | +304% |
| Furniture and vehicles | 24 | €32,877 | €62,227 | +€29,350 | +89.3% |
| Other tangible fixed assets | 26 | €56,526 | €50,865 | -€5,661 | -10.0% |
| Financial fixed assets | 28 | €6,792 | €6,792 | = | 0.0% |
| Current assets | 29/58 | €117,669 | €157,238 | +€39,569 | +33.6% |
| Stocks and contracts in progress | 3 | €34,983 | €34,983 | = | 0.0% |
| Stocks | 30/36 | €34,983 | €34,983 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,181 | €5,623 | -€3,558 | -38.8% |
| Trade receivables | 40 | €9,181 | - | -€9,181 | |
| Other amounts receivable | 41 | - | €5,623 | +€5,623 | |
| Cash at bank and in hand | 54/58 | €65,475 | €108,616 | +€43,140 | +65.9% |
| Deferred charges and accrued income | 490/1 | €8,030 | €8,017 | -€13 | -0.2% |
| Total equity and liabilities | 10/49 | €254,539 | €349,908 | +€95,369 | +37.5% |
| Equity | 10/15 | €102,993 | €144,438 | +€41,444 | +40.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,660 | €113,660 | +€40,000 | +54.3% |
| Tax-exempt reserves | 132 | €1,800 | €1,800 | = | 0.0% |
| Distributable reserves | 133 | €71,860 | €111,860 | +€40,000 | +55.7% |
| Profit (loss) carried forward | 14 | €10,733 | €12,178 | +€1,444 | +13.5% |
| Amounts payable | 17/49 | €151,545 | €205,471 | +€53,925 | +35.6% |
| Amounts payable within one year | 42/48 | €132,236 | €156,912 | +€24,676 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €9,974 | - | -€9,974 | |
| Trade debts | 44 | €18,068 | €33,047 | +€14,979 | +82.9% |
| Suppliers | 440/4 | €18,068 | €33,047 | +€14,979 | +82.9% |
| Taxes, remuneration and social security | 45 | €24,612 | €43,023 | +€18,412 | +74.8% |
| Taxes | 450/3 | €14,160 | €36,499 | +€22,339 | +158% |
| Remuneration and social security | 454/9 | €10,452 | €6,524 | -€3,928 | -37.6% |
| Other amounts payable | 47/48 | €79,582 | €80,842 | +€1,260 | +1.6% |
| Accrued charges and deferred income | 492/3 | €19,309 | €48,558 | +€29,249 | +151% |
| Non-recurring operating income | 76A | - | €3,233 | +€3,233 | |
| Remuneration, social security and pensions | 62 | €69,134 | €75,980 | +€6,846 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,878 | €42,550 | +€11,672 | +37.8% |
| Other operating charges | 640/8 | €3,623 | €5,402 | +€1,780 | +49.1% |
| Non-recurring operating charges | 66A | - | €13,459 | +€13,459 | |
| Gross operating margin | 9900 | €219,068 | €248,088 | +€29,019 | +13.2% |
| Operating profit (loss) | 9901 | €115,433 | €110,696 | -€4,738 | -4.1% |
| Financial income | 75/76B | €1,684 | €54 | -€1,630 | -96.8% |
| Recurring financial income | 75 | €1,684 | €54 | -€1,630 | -96.8% |
| Financial charges | 65/66B | €3,928 | €666 | -€3,262 | -83.0% |
| Recurring financial charges | 65 | €3,928 | €666 | -€3,262 | -83.0% |
| Profit (loss) for the period before taxes | 9903 | €113,189 | €110,083 | -€3,106 | -2.7% |
| Income taxes | 67/77 | €38,582 | €25,639 | -€12,943 | -33.5% |
| Profit (loss) for the period | 9904 | €74,608 | €84,444 | +€9,836 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,608 | €84,444 | +€9,836 | +13.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.