SAM MANAGEMENT: 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.
SAM MANAGEMENT
Largest movements
- Receivables within one year -€65,684
down €65,684 (-48.9%), from €134,392 to €68,708
of which Other amounts receivable: -€64,522
- Tangible fixed assets -€11,392
down €11,392 (-26.2%), from €43,422 to €32,030
- Cash -€4,721
down €4,721 (-24.0%), from €19,633 to €14,912
mainly Contributions, distributions and other (-€167,600) and Debts after one year (-€10,182)
- Deferred charges and accrued income -€4,348
down €4,348 (-69.4%), from €6,265 to €1,917
- Reserves -€120,600
down €120,600 (-100%), from €120,600 to €0
- Other debts +€47,000
up €47,000, from €0 to €47,000
- Debts after one year -€10,182
down €10,182 (-34.2%), from €29,804 to €19,622
of which Financial debts: -€10,182
- Tax, wage and social debts -€6,699
down €6,699 (-18.8%), from €35,713 to €29,014
- Trade debts +€4,772
up €4,772 (+123%), from €3,892 to €8,663
- Depreciation +€9,245
up €9,245 (+430%), from €2,148 to €11,392
- Other operating charges -€1,016
down €1,016 (-59.3%), from €1,712 to €696
- Taxes -€899
down €899 (-6.2%), from €14,597 to €13,698
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 | €203,796 | €117,651 | -€86,145 | -42.3% |
| Fixed assets | 21/28 | €43,506 | €32,114 | -€11,392 | -26.2% |
| Tangible fixed assets | 22/27 | €43,422 | €32,030 | -€11,392 | -26.2% |
| Furniture and vehicles | 24 | €43,422 | €32,030 | -€11,392 | -26.2% |
| Financial fixed assets | 28 | €84 | €84 | = | 0.0% |
| Current assets | 29/58 | €160,290 | €85,537 | -€74,753 | -46.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €134,392 | €68,708 | -€65,684 | -48.9% |
| Trade receivables | 40 | €19,312 | €18,150 | -€1,162 | -6.0% |
| Other amounts receivable | 41 | €115,080 | €50,558 | -€64,522 | -56.1% |
| Cash at bank and in hand | 54/58 | €19,633 | €14,912 | -€4,721 | -24.0% |
| Deferred charges and accrued income | 490/1 | €6,265 | €1,917 | -€4,348 | -69.4% |
| Total equity and liabilities | 10/49 | €203,796 | €117,651 | -€86,145 | -42.3% |
| Equity | 10/15 | €123,615 | €3,094 | -€120,522 | -97.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €120,600 | €0 | -€120,600 | -100% |
| Distributable reserves | 133 | €120,600 | €0 | -€120,600 | -100% |
| Profit (loss) carried forward | 14 | €15 | €94 | +€78 | +505% |
| Amounts payable | 17/49 | €80,181 | €114,557 | +€34,377 | +42.9% |
| Amounts payable after more than one year | 17 | €29,804 | €19,622 | -€10,182 | -34.2% |
| Financial debts | 170/4 | €29,804 | €19,622 | -€10,182 | -34.2% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €49,435 | €94,859 | +€45,424 | +91.9% |
| Current portion of amounts payable after more than one year | 42 | €9,831 | €10,182 | +€352 | +3.6% |
| Trade debts | 44 | €3,892 | €8,663 | +€4,772 | +123% |
| Suppliers | 440/4 | €3,892 | €8,663 | +€4,772 | +123% |
| Taxes, remuneration and social security | 45 | €35,713 | €29,014 | -€6,699 | -18.8% |
| Taxes | 450/3 | €35,713 | €29,014 | -€6,699 | -18.8% |
| Other amounts payable | 47/48 | €0 | €47,000 | +€47,000 | |
| Accrued charges and deferred income | 492/3 | €941 | €76 | -€866 | -91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,148 | €11,392 | +€9,245 | +430% |
| Other operating charges | 640/8 | €1,712 | €696 | -€1,016 | -59.3% |
| Gross operating margin | 9900 | €69,961 | €70,147 | +€186 | +0.3% |
| Operating profit (loss) | 9901 | €66,101 | €58,058 | -€8,042 | -12.2% |
| Financial income | 75/76B | €4,732 | €4,488 | -€244 | -5.2% |
| Recurring financial income | 75 | €4,732 | €4,488 | -€244 | -5.2% |
| Financial charges | 65/66B | €2,403 | €1,770 | -€633 | -26.3% |
| Recurring financial charges | 65 | €2,403 | €1,770 | -€633 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €68,430 | €60,776 | -€7,654 | -11.2% |
| Income taxes | 67/77 | €14,597 | €13,698 | -€899 | -6.2% |
| Profit (loss) for the period | 9904 | €53,833 | €47,078 | -€6,755 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,833 | €47,078 | -€6,755 | -12.5% |
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 29 October 2026 via checked.be.