SQM: what changed
Two fiscal 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.
SQM
Largest movements
- Financial fixed assets -€210,000
down €210,000 (-96.4%), from €217,928 to €7,928
- Receivables within one year +€51,840
up €51,840 (+22.9%), from €226,806 to €278,647
of which Other amounts receivable: +€49,851
- Tangible fixed assets -€18,715
down €18,715 (-65.2%), from €28,706 to €9,991
of which Leasing and similar rights: -€15,014
- Stocks and contracts +€17,961
up €17,961 (+17.7%), from €101,271 to €119,231
- Profit (loss) carried forward +€419,035
no longer reported in 2025 (was -€419,035)
- Reserves -€322,021
down €322,021 (-31.6%), from €1.0m to €695,451
- Other debts -€179,022
no longer reported in 2025 (was €179,022)
- Debts after one year -€109,421
down €109,421 (-88.6%), from €123,556 to €14,135
- Trade debts +€23,456
up €23,456 (+22.3%), from €105,336 to €128,791
- Financial charges -€390,085
down €390,085 (-84.3%), from €462,610 to €72,524
of which Non-recurring financial charges: -€352,500
- Financial income +€159,684
up €159,684 (+825.3%), from €19,348 to €179,032
of which Non-recurring financial income: +€179,022
- Gross operating margin +€121,382
up €121,382 (+246.2%), from €49,308 to €170,689
- Staff costs +€119,825
new in 2025: €119,825
- Other operating charges -€11,922
down €11,922 (-79.2%), from €15,052 to €3,131
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 | €1,086,339 | €931,772 | -€154,568 | -14.2% |
| Fixed assets | 21/28 | €246,634 | €17,918 | -€228,715 | -92.7% |
| Tangible fixed assets | 22/27 | €28,706 | €9,991 | -€18,715 | -65.2% |
| Plant, machinery and equipment | 23 | €63 | €982 | +€919 | +1450.0% |
| Furniture and vehicles | 24 | €13,629 | €9,008 | -€4,620 | -33.9% |
| Leasing and similar rights | 25 | €15,014 | - | -€15,014 | |
| Financial fixed assets | 28 | €217,928 | €7,928 | -€210,000 | -96.4% |
| Current assets | 29/58 | €839,706 | €913,853 | +€74,148 | +8.8% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €101,271 | €119,231 | +€17,961 | +17.7% |
| Stocks | 30/36 | €101,271 | €119,231 | +€17,961 | +17.7% |
| Amounts receivable within one year | 40/41 | €226,806 | €278,647 | +€51,840 | +22.9% |
| Trade receivables | 40 | €80,443 | €82,432 | +€1,989 | +2.5% |
| Other amounts receivable | 41 | €146,364 | €196,215 | +€49,851 | +34.1% |
| Cash at bank and in hand | 54/58 | €11,629 | €13,406 | +€1,777 | +15.3% |
| Deferred charges and accrued income | 490/1 | - | €2,569 | +€2,569 | |
| Total equity and liabilities | 10/49 | €1,086,339 | €931,772 | -€154,568 | -14.2% |
| Equity | 10/15 | €617,037 | €714,051 | +€97,014 | +15.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,017,472 | €695,451 | -€322,021 | -31.6% |
| Distributable reserves | 133 | €1,017,472 | €695,451 | -€322,021 | -31.6% |
| Profit (loss) carried forward | 14 | -€419,035 | - | +€419,035 | |
| Amounts payable | 17/49 | €469,302 | €217,720 | -€251,582 | -53.6% |
| Amounts payable after more than one year | 17 | €123,556 | €14,135 | -€109,421 | -88.6% |
| Financial debts | 170/4 | €123,556 | €14,135 | -€109,421 | -88.6% |
| Amounts payable within one year | 42/48 | €345,278 | €202,110 | -€143,169 | -41.5% |
| Current portion of amounts payable after more than one year | 42 | €17,405 | €10,607 | -€6,798 | -39.1% |
| Trade debts | 44 | €105,336 | €128,791 | +€23,456 | +22.3% |
| Suppliers | 440/4 | €105,336 | €128,791 | +€23,456 | +22.3% |
| Taxes, remuneration and social security | 45 | €43,516 | €62,711 | +€19,195 | +44.1% |
| Taxes | 450/3 | €41,756 | €39,298 | -€2,458 | -5.9% |
| Remuneration and social security | 454/9 | €1,760 | €23,413 | +€21,653 | +1230.0% |
| Other amounts payable | 47/48 | €179,022 | - | -€179,022 | |
| Accrued charges and deferred income | 492/3 | €468 | €1,476 | +€1,008 | +215.3% |
| Remuneration, social security and pensions | 62 | - | €119,825 | +€119,825 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,869 | €5,349 | -€4,519 | -45.8% |
| Other operating charges | 640/8 | €15,052 | €3,131 | -€11,922 | -79.2% |
| Non-recurring operating charges | 66A | - | €41,970 | +€41,970 | |
| Gross operating margin | 9900 | €49,308 | €170,689 | +€121,382 | +246.2% |
| Operating profit (loss) | 9901 | €24,387 | €414 | -€23,973 | -98.3% |
| Financial income | 75/76B | €19,348 | €179,032 | +€159,684 | +825.3% |
| Recurring financial income | 75 | €19,348 | €11 | -€19,338 | -99.9% |
| Non-recurring financial income | 76B | - | €179,022 | +€179,022 | |
| Financial charges | 65/66B | €462,610 | €72,524 | -€390,085 | -84.3% |
| Recurring financial charges | 65 | €47,610 | €10,024 | -€37,585 | -78.9% |
| Non-recurring financial charges | 66B | €415,000 | €62,500 | -€352,500 | -84.9% |
| Profit (loss) for the period before taxes | 9903 | -€418,875 | €106,922 | +€525,796 | |
| Income taxes | 67/77 | €161 | €9,907 | +€9,746 | +6062.3% |
| Profit (loss) for the period | 9904 | -€419,035 | €97,014 | +€516,050 | |
| Profit (loss) for the period to be appropriated | 9905 | -€419,035 | €97,014 | +€516,050 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.