Sah Group: 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 Group
Largest movements
- Tangible fixed assets +€56,319
up €56,319 (+417%), from €13,498 to €69,817
of which Furniture and vehicles: +€56,801
- Cash +€34,123
up €34,123 (+448%), from €7,611 to €41,733
mainly Debts after one year (+€60,000) and Net result for the year (+€41,262)
- Stocks and contracts +€17,814
up €17,814 (+10.3%), from €172,904 to €190,718
- Receivables within one year +€6,462
up €6,462 (+14.8%), from €43,796 to €50,258
- Debts after one year +€60,000
new in 2025: €60,000
- Profit (loss) carried forward +€41,262
up €41,262, from -€5,474 to €35,787
- Tax, wage and social debts +€17,514
up €17,514 (+45.9%), from €38,189 to €55,703
of which Taxes: +€20,136
- Accrued charges and deferred income -€7,500
down €7,500 (-21.5%), from €34,900 to €27,400
- Trade debts +€3,688
up €3,688 (+4.0%), from €91,124 to €94,812
- Gross operating margin +€37,695
up €37,695 (+70.2%), from €53,727 to €91,422
- Taxes +€8,935
new in 2025: €8,935
- Other operating charges +€5,765
up €5,765 (+507%), from €1,138 to €6,903
- Staff costs -€3,983
down €3,983 (-13.8%), from €28,906 to €24,922
- Financial charges +€3,307
up €3,307 (+330%), from €1,003 to €4,310
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 | €237,809 | €353,183 | +€115,374 | +48.5% |
| Fixed assets | 21/28 | €13,498 | €69,817 | +€56,319 | +417% |
| Tangible fixed assets | 22/27 | €13,498 | €69,817 | +€56,319 | +417% |
| Plant, machinery and equipment | 23 | €5,511 | €5,029 | -€482 | -8.7% |
| Furniture and vehicles | 24 | €7,987 | €64,788 | +€56,801 | +711% |
| Current assets | 29/58 | €224,311 | €283,366 | +€59,056 | +26.3% |
| Stocks and contracts in progress | 3 | €172,904 | €190,718 | +€17,814 | +10.3% |
| Stocks | 30/36 | €172,904 | €190,718 | +€17,814 | +10.3% |
| Amounts receivable within one year | 40/41 | €43,796 | €50,258 | +€6,462 | +14.8% |
| Trade receivables | 40 | €43,796 | €50,258 | +€6,462 | +14.8% |
| Cash at bank and in hand | 54/58 | €7,611 | €41,733 | +€34,123 | +448% |
| Deferred charges and accrued income | 490/1 | - | €657 | +€657 | |
| Total equity and liabilities | 10/49 | €237,809 | €353,183 | +€115,374 | +48.5% |
| Equity | 10/15 | €15,686 | €56,947 | +€41,262 | +263% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €15,160 | €15,160 | = | 0.0% |
| Distributable reserves | 133 | €15,160 | €15,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,474 | €35,787 | +€41,262 | |
| Amounts payable | 17/49 | €222,124 | €296,236 | +€74,112 | +33.4% |
| Amounts payable after more than one year | 17 | - | €60,000 | +€60,000 | |
| Financial debts | 170/4 | - | €60,000 | +€60,000 | |
| Amounts payable within one year | 42/48 | €187,224 | €208,836 | +€21,612 | +11.5% |
| Trade debts | 44 | €91,124 | €94,812 | +€3,688 | +4.0% |
| Suppliers | 440/4 | €91,124 | €94,812 | +€3,688 | +4.0% |
| Taxes, remuneration and social security | 45 | €38,189 | €55,703 | +€17,514 | +45.9% |
| Taxes | 450/3 | €31,485 | €51,621 | +€20,136 | +64.0% |
| Remuneration and social security | 454/9 | €6,704 | €4,082 | -€2,622 | -39.1% |
| Other amounts payable | 47/48 | €57,910 | €58,320 | +€410 | +0.7% |
| Accrued charges and deferred income | 492/3 | €34,900 | €27,400 | -€7,500 | -21.5% |
| Remuneration, social security and pensions | 62 | €28,906 | €24,922 | -€3,983 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,858 | €5,192 | +€334 | +6.9% |
| Other operating charges | 640/8 | €1,138 | €6,903 | +€5,765 | +507% |
| Gross operating margin | 9900 | €53,727 | €91,422 | +€37,695 | +70.2% |
| Operating profit (loss) | 9901 | €18,826 | €54,405 | +€35,579 | +189% |
| Financial income | 75/76B | €13 | €102 | +€89 | +663% |
| Recurring financial income | 75 | €13 | €102 | +€89 | +663% |
| Financial charges | 65/66B | €1,003 | €4,310 | +€3,307 | +330% |
| Recurring financial charges | 65 | €1,003 | €4,310 | +€3,307 | +330% |
| Profit (loss) for the period before taxes | 9903 | €17,836 | €50,197 | +€32,361 | +181% |
| Income taxes | 67/77 | - | €8,935 | +€8,935 | |
| Profit (loss) for the period | 9904 | €17,836 | €41,262 | +€23,426 | +131% |
| Profit (loss) for the period to be appropriated | 9905 | €17,836 | €41,262 | +€23,426 | +131% |
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 21 October 2026 via checked.be.