SJAMEL: 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.
SJAMEL
Largest movements
- Tangible fixed assets +€38,450
up €38,450 (+30.0%), from €128,243 to €166,693
- Cash -€12,124
down €12,124 (-73.5%), from €16,485 to €4,361
mainly Investment in fixed assets (net) (-€54,155) and Debts after one year (-€18,246)
- Profit (loss) carried forward +€36,298
up €36,298 (+13.3%), from -€273,196 to -€236,898
- Debts after one year -€18,246
down €18,246 (-28.2%), from €64,791 to €46,544
- Trade debts +€8,661
up €8,661 (+2,557%), from €339 to €9,000
- Gross operating margin +€26,550
up €26,550 (+87.8%), from €30,241 to €56,791
- Depreciation +€1,129
up €1,129 (+7.7%), from €14,576 to €15,705
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 | €145,628 | €172,854 | +€27,226 | +18.7% |
| Fixed assets | 21/28 | €128,243 | €166,693 | +€38,450 | +30.0% |
| Tangible fixed assets | 22/27 | €128,243 | €166,693 | +€38,450 | +30.0% |
| Land and buildings | 22 | €128,243 | €166,693 | +€38,450 | +30.0% |
| Current assets | 29/58 | €17,385 | €6,161 | -€11,224 | -64.6% |
| Amounts receivable within one year | 40/41 | €900 | €1,800 | +€900 | +100% |
| Trade receivables | 40 | €900 | €1,800 | +€900 | +100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €16,485 | €4,361 | -€12,124 | -73.5% |
| Total equity and liabilities | 10/49 | €145,628 | €172,854 | +€27,226 | +18.7% |
| Equity | 10/15 | €62,700 | €98,997 | +€36,298 | +57.9% |
| Contributions | 10/11 | €335,896 | €335,896 | = | 0.0% |
| Capital | 10 | €335,896 | €335,896 | = | 0.0% |
| Issued capital | 100 | €335,896 | €335,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,196 | -€236,898 | +€36,298 | +13.3% |
| Amounts payable | 17/49 | €82,928 | €73,856 | -€9,072 | -10.9% |
| Amounts payable after more than one year | 17 | €64,791 | €46,544 | -€18,246 | -28.2% |
| Financial debts | 170/4 | €64,791 | €46,544 | -€18,246 | -28.2% |
| Amounts payable within one year | 42/48 | €18,137 | €27,312 | +€9,174 | +50.6% |
| Current portion of amounts payable after more than one year | 42 | €17,733 | €18,246 | +€513 | +2.9% |
| Trade debts | 44 | €339 | €9,000 | +€8,661 | +2,557% |
| Suppliers | 440/4 | €339 | €9,000 | +€8,661 | +2,557% |
| Other amounts payable | 47/48 | €65 | €65 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,576 | €15,705 | +€1,129 | +7.7% |
| Other operating charges | 640/8 | €2,917 | €2,546 | -€372 | -12.7% |
| Gross operating margin | 9900 | €30,241 | €56,791 | +€26,550 | +87.8% |
| Operating profit (loss) | 9901 | €12,747 | €38,541 | +€25,793 | +202% |
| Financial charges | 65/66B | €2,741 | €2,243 | -€498 | -18.2% |
| Recurring financial charges | 65 | €2,741 | €2,243 | -€498 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €10,007 | €36,298 | +€26,291 | +263% |
| Profit (loss) for the period | 9904 | €10,007 | €36,298 | +€26,291 | +263% |
| Profit (loss) for the period to be appropriated | 9905 | €10,007 | €36,298 | +€26,291 | +263% |
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 15 October 2026 via checked.be.