sah trans: 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 trans
Largest movements
- Tangible fixed assets +€55,643
up €55,643 (+103%), from €54,049 to €109,692
- Receivables within one year -€26,818
down €26,818 (-40.3%), from €66,577 to €39,760
of which Trade receivables: -€37,061
- Cash +€3,014
up €3,014 (+275%), from €1,096 to €4,110
mainly Debts after one year (+€47,531) and Receivables within one year (+€26,818)
- Debts after one year +€47,531
up €47,531 (+192%), from €24,791 to €72,322
- Trade debts -€42,469
down €42,469 (-90.7%), from €46,837 to €4,368
- Current portion of long-term debt +€15,622
up €15,622 (+190%), from €8,217 to €23,839
- Other debts +€7,260
up €7,260 (+49.6%), from €14,623 to €21,882
- Profit (loss) carried forward +€3,181
up €3,181 (+43.1%), from €7,389 to €10,570
- Gross operating margin +€16,541
up €16,541 (+60.3%), from €27,441 to €43,981
- Depreciation +€9,933
up €9,933 (+90.0%), from €11,034 to €20,967
- Other operating charges +€3,613
up €3,613 (+33.4%), from €10,815 to €14,427
- Financial charges +€2,604
up €2,604 (+213%), from €1,224 to €3,828
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 | €122,800 | €154,935 | +€32,135 | +26.2% |
| Fixed assets | 21/28 | €54,184 | €109,827 | +€55,643 | +103% |
| Tangible fixed assets | 22/27 | €54,049 | €109,692 | +€55,643 | +103% |
| Furniture and vehicles | 24 | €54,049 | €109,692 | +€55,643 | +103% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €68,616 | €45,108 | -€23,508 | -34.3% |
| Amounts receivable within one year | 40/41 | €66,577 | €39,760 | -€26,818 | -40.3% |
| Trade receivables | 40 | €64,855 | €27,794 | -€37,061 | -57.1% |
| Other amounts receivable | 41 | €1,722 | €11,966 | +€10,244 | +595% |
| Cash at bank and in hand | 54/58 | €1,096 | €4,110 | +€3,014 | +275% |
| Deferred charges and accrued income | 490/1 | €942 | €1,238 | +€295 | +31.3% |
| Total equity and liabilities | 10/49 | €122,800 | €154,935 | +€32,135 | +26.2% |
| Equity | 10/15 | €19,789 | €22,970 | +€3,181 | +16.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,389 | €10,570 | +€3,181 | +43.1% |
| Amounts payable | 17/49 | €103,012 | €131,965 | +€28,954 | +28.1% |
| Amounts payable after more than one year | 17 | €24,791 | €72,322 | +€47,531 | +192% |
| Financial debts | 170/4 | €24,791 | €72,322 | +€47,531 | +192% |
| Amounts payable within one year | 42/48 | €78,221 | €59,643 | -€18,577 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €8,217 | €23,839 | +€15,622 | +190% |
| Trade debts | 44 | €46,837 | €4,368 | -€42,469 | -90.7% |
| Suppliers | 440/4 | €46,837 | €4,368 | -€42,469 | -90.7% |
| Taxes, remuneration and social security | 45 | €8,544 | €9,554 | +€1,010 | +11.8% |
| Taxes | 450/3 | €8,544 | €3,779 | -€4,765 | -55.8% |
| Remuneration and social security | 454/9 | - | €5,775 | +€5,775 | |
| Other amounts payable | 47/48 | €14,623 | €21,882 | +€7,260 | +49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,034 | €20,967 | +€9,933 | +90.0% |
| Other operating charges | 640/8 | €10,815 | €14,427 | +€3,613 | +33.4% |
| Gross operating margin | 9900 | €27,441 | €43,981 | +€16,541 | +60.3% |
| Operating profit (loss) | 9901 | €5,592 | €8,587 | +€2,995 | +53.6% |
| Financial charges | 65/66B | €1,224 | €3,828 | +€2,604 | +213% |
| Recurring financial charges | 65 | €1,224 | €3,828 | +€2,604 | +213% |
| Profit (loss) for the period before taxes | 9903 | €4,368 | €4,759 | +€391 | +9.0% |
| Income taxes | 67/77 | €1,559 | €1,578 | +€19 | +1.2% |
| Profit (loss) for the period | 9904 | €2,809 | €3,181 | +€372 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,809 | €3,181 | +€372 | +13.3% |
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 23 October 2026 via checked.be.