SAH CONSTRUCT: 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.
SAH CONSTRUCT
Largest movements
- Receivables within one year +€65,500
up €65,500 (+170%), from €38,474 to €103,974
of which Other amounts receivable: +€79,704
- Tangible fixed assets +€14,440
up €14,440 (+168%), from €8,588 to €23,028
of which Furniture and vehicles: +€12,357
- Cash -€10,042
down €10,042 (-100.0%), from €10,043 to €1
mainly Receivables within one year (-€65,500) and Investment in fixed assets (net) (-€23,739)
- Profit (loss) carried forward +€53,082
up €53,082 (+169%), from €31,396 to €84,478
- Tax, wage and social debts +€13,626
up €13,626 (+270%), from €5,056 to €18,682
- Trade debts -€8,210
no longer reported in 2025 (was €8,210)
- Debts after one year +€7,377
up €7,377 (+99.6%), from €7,406 to €14,783
- Current portion of long-term debt +€3,567
up €3,567 (+73.1%), from €4,876 to €8,443
- Gross operating margin +€53,884
up €53,884 (+234%), from €22,994 to €76,878
- Purchases and services +€48,765
up €48,765 (+12.3%), from €397,922 to €446,687
- Taxes +€10,137
up €10,137 (+237%), from €4,272 to €14,409
- Depreciation +€7,322
up €7,322 (+370%), from €1,976 to €9,298
- Financial income +€2,991
up €2,991 (+306%), from €979 to €3,969
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 | €57,944 | €127,386 | +€69,442 | +120% |
| Fixed assets | 21/28 | €8,890 | €23,331 | +€14,440 | +162% |
| Tangible fixed assets | 22/27 | €8,588 | €23,028 | +€14,440 | +168% |
| Plant, machinery and equipment | 23 | €8,555 | €10,639 | +€2,084 | +24.4% |
| Furniture and vehicles | 24 | €33 | €12,389 | +€12,357 | +37,951% |
| Financial fixed assets | 28 | €303 | €303 | = | 0.0% |
| Current assets | 29/58 | €49,054 | €104,055 | +€55,001 | +112% |
| Amounts receivable within one year | 40/41 | €38,474 | €103,974 | +€65,500 | +170% |
| Trade receivables | 40 | €14,368 | €164 | -€14,203 | -98.9% |
| Other amounts receivable | 41 | €24,106 | €103,810 | +€79,704 | +331% |
| Cash at bank and in hand | 54/58 | €10,043 | €1 | -€10,042 | -100.0% |
| Deferred charges and accrued income | 490/1 | €537 | €80 | -€457 | -85.1% |
| Total equity and liabilities | 10/49 | €57,944 | €127,386 | +€69,442 | +120% |
| Equity | 10/15 | €32,396 | €85,478 | +€53,082 | +164% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,396 | €84,478 | +€53,082 | +169% |
| Amounts payable | 17/49 | €25,548 | €41,908 | +€16,360 | +64.0% |
| Amounts payable after more than one year | 17 | €7,406 | €14,783 | +€7,377 | +99.6% |
| Financial debts | 170/4 | €7,406 | €14,783 | +€7,377 | +99.6% |
| Amounts payable within one year | 42/48 | €18,142 | €27,125 | +€8,983 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €4,876 | €8,443 | +€3,567 | +73.1% |
| Trade debts | 44 | €8,210 | - | -€8,210 | |
| Suppliers | 440/4 | €8,210 | - | -€8,210 | |
| Taxes, remuneration and social security | 45 | €5,056 | €18,682 | +€13,626 | +270% |
| Taxes | 450/3 | €5,056 | €18,682 | +€13,626 | +270% |
| Goods, raw materials, services and sundry goods | 60/61 | €397,922 | €446,687 | +€48,765 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,976 | €9,298 | +€7,322 | +370% |
| Other operating charges | 640/8 | €847 | €2,570 | +€1,723 | +203% |
| Gross operating margin | 9900 | €22,994 | €76,878 | +€53,884 | +234% |
| Operating profit (loss) | 9901 | €20,171 | €65,010 | +€44,839 | +222% |
| Financial income | 75/76B | €979 | €3,969 | +€2,991 | +306% |
| Recurring financial income | 75 | €979 | €3,969 | +€2,991 | +306% |
| Financial charges | 65/66B | €759 | €1,488 | +€729 | +96.0% |
| Recurring financial charges | 65 | €759 | €1,488 | +€729 | +96.0% |
| Profit (loss) for the period before taxes | 9903 | €20,390 | €67,492 | +€47,101 | +231% |
| Income taxes | 67/77 | €4,272 | €14,409 | +€10,137 | +237% |
| Profit (loss) for the period | 9904 | €16,118 | €53,082 | +€36,964 | +229% |
| Profit (loss) for the period to be appropriated | 9905 | €16,118 | €53,082 | +€36,964 | +229% |
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 13 October 2026 via checked.be.