S&H HOLDING: 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.
S&H HOLDING
Largest movements
- Cash +€35,372
up €35,372 (+46.4%), from €76,190 to €111,562
mainly Net result for the year (+€161,637) and Other debts (+€134,215)
- Receivables within one year +€18,188
up €18,188 (+68.0%), from €26,740 to €44,927
of which Trade receivables: +€17,591
- Other debts +€134,215
up €134,215 (+81.4%), from €164,856 to €299,071
- Debts after one year -€57,724
down €57,724 (-12.4%), from €465,799 to €408,075
- Tax, wage and social debts -€12,876
down €12,876 (-28.8%), from €44,717 to €31,841
- Profit (loss) carried forward -€12,795
down €12,795 (-100%), from €12,795 to €0
- Gross operating margin +€79,039
up €79,039 (+49.4%), from €160,093 to €239,132
- Taxes +€10,482
up €10,482 (+27.3%), from €38,353 to €48,835
- Financial charges +€5,263
up €5,263 (+27.8%), from €18,963 to €24,226
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 | €1,129,197 | €1,176,804 | +€47,608 | +4.2% |
| Fixed assets | 21/28 | €1,024,467 | €1,020,315 | -€4,152 | -0.4% |
| Tangible fixed assets | 22/27 | €24,467 | €20,315 | -€4,152 | -17.0% |
| Plant, machinery and equipment | 23 | €24,467 | €20,315 | -€4,152 | -17.0% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €104,729 | €156,489 | +€51,760 | +49.4% |
| Amounts receivable within one year | 40/41 | €26,740 | €44,927 | +€18,188 | +68.0% |
| Trade receivables | 40 | €19,794 | €37,386 | +€17,591 | +88.9% |
| Other amounts receivable | 41 | €6,945 | €7,541 | +€596 | +8.6% |
| Cash at bank and in hand | 54/58 | €76,190 | €111,562 | +€35,372 | +46.4% |
| Deferred charges and accrued income | 490/1 | €1,800 | €0 | -€1,800 | -100% |
| Total equity and liabilities | 10/49 | €1,129,197 | €1,176,804 | +€47,608 | +4.2% |
| Equity | 10/15 | €381,000 | €368,205 | -€12,795 | -3.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €349,655 | €349,655 | = | 0.0% |
| Distributable reserves | 133 | €349,655 | €349,655 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,795 | €0 | -€12,795 | -100% |
| Amounts payable | 17/49 | €748,197 | €808,599 | +€60,403 | +8.1% |
| Amounts payable after more than one year | 17 | €465,799 | €408,075 | -€57,724 | -12.4% |
| Financial debts | 170/4 | €465,799 | €408,075 | -€57,724 | -12.4% |
| Amounts payable within one year | 42/48 | €273,580 | €392,485 | +€118,905 | +43.5% |
| Current portion of amounts payable after more than one year | 42 | €64,007 | €61,470 | -€2,537 | -4.0% |
| Trade debts | 44 | €0 | €103 | +€103 | |
| Suppliers | 440/4 | €0 | €103 | +€103 | |
| Taxes, remuneration and social security | 45 | €44,717 | €31,841 | -€12,876 | -28.8% |
| Taxes | 450/3 | €44,717 | €31,841 | -€12,876 | -28.8% |
| Other amounts payable | 47/48 | €164,856 | €299,071 | +€134,215 | +81.4% |
| Accrued charges and deferred income | 492/3 | €8,818 | €8,040 | -€778 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,937 | €4,152 | +€215 | +5.5% |
| Other operating charges | 640/8 | €1,045 | €435 | -€610 | -58.4% |
| Gross operating margin | 9900 | €160,093 | €239,132 | +€79,039 | +49.4% |
| Operating profit (loss) | 9901 | €155,111 | €234,545 | +€79,434 | +51.2% |
| Financial income | 75/76B | - | €152 | +€152 | |
| Recurring financial income | 75 | - | €152 | +€152 | |
| Financial charges | 65/66B | €18,963 | €24,226 | +€5,263 | +27.8% |
| Recurring financial charges | 65 | €18,963 | €24,226 | +€5,263 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €136,148 | €210,471 | +€74,323 | +54.6% |
| Income taxes | 67/77 | €38,353 | €48,835 | +€10,482 | +27.3% |
| Profit (loss) for the period | 9904 | €97,795 | €161,637 | +€63,841 | +65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,795 | €161,637 | +€63,841 | +65.3% |
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.