SAHALA: 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.
SAHALA
Largest movements
- Cash +€55,825
up €55,825 (+499%), from €11,187 to €67,012
mainly Other debts (+€116,200) and Net result for the year (+€47,875)
- Tangible fixed assets +€21,901
up €21,901 (+8.0%), from €274,096 to €295,997
of which Land and buildings: +€30,425
- Stocks and contracts -€21,176
down €21,176 (-8.5%), from €250,230 to €229,054
- Receivables within one year +€7,421
up €7,421 (+16.9%), from €43,836 to €51,256
of which Trade receivables: +€11,124
- Other debts +€116,200
up €116,200 (+223%), from €52,138 to €168,337
- Reserves -€52,125
down €52,125 (-32.0%), from €163,144 to €111,020
- Debts after one year -€39,163
down €39,163 (-11.9%), from €328,917 to €289,755
- Tax, wage and social debts +€25,515
up €25,515 (+143%), from €17,785 to €43,300
of which Taxes: +€17,613
- Current portion of long-term debt +€19,277
up €19,277 (+2,861%), from €674 to €19,951
- Gross operating margin +€45,440
up €45,440 (+44.6%), from €101,874 to €147,315
- Staff costs +€32,684
up €32,684 (+533%), from €6,129 to €38,813
- Other operating charges +€3,421
up €3,421 (+111%), from €3,078 to €6,500
- Financial charges +€2,026
up €2,026 (+15.3%), from €13,264 to €15,290
- Depreciation +€1,717
up €1,717 (+6.8%), from €25,377 to €27,094
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 | €586,425 | €652,601 | +€66,177 | +11.3% |
| Fixed assets | 21/28 | €275,824 | €299,053 | +€23,229 | +8.4% |
| Intangible fixed assets | 21 | €1,728 | €3,056 | +€1,328 | +76.9% |
| Tangible fixed assets | 22/27 | €274,096 | €295,997 | +€21,901 | +8.0% |
| Land and buildings | 22 | €236,080 | €266,506 | +€30,425 | +12.9% |
| Plant, machinery and equipment | 23 | €544 | €3,212 | +€2,668 | +491% |
| Furniture and vehicles | 24 | €37,473 | €26,280 | -€11,193 | -29.9% |
| Current assets | 29/58 | €310,600 | €353,548 | +€42,948 | +13.8% |
| Stocks and contracts in progress | 3 | €250,230 | €229,054 | -€21,176 | -8.5% |
| Stocks | 30/36 | €250,230 | €229,054 | -€21,176 | -8.5% |
| Amounts receivable within one year | 40/41 | €43,836 | €51,256 | +€7,421 | +16.9% |
| Trade receivables | 40 | €37,911 | €49,035 | +€11,124 | +29.3% |
| Other amounts receivable | 41 | €5,924 | €2,222 | -€3,703 | -62.5% |
| Cash at bank and in hand | 54/58 | €11,187 | €67,012 | +€55,825 | +499% |
| Deferred charges and accrued income | 490/1 | €5,348 | €6,226 | +€878 | +16.4% |
| Total equity and liabilities | 10/49 | €586,425 | €652,601 | +€66,177 | +11.3% |
| Equity | 10/15 | €165,644 | €113,520 | -€52,125 | -31.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €163,144 | €111,020 | -€52,125 | -32.0% |
| Distributable reserves | 133 | €163,144 | €111,020 | -€52,125 | -32.0% |
| Amounts payable | 17/49 | €420,780 | €539,081 | +€118,301 | +28.1% |
| Amounts payable after more than one year | 17 | €328,917 | €289,755 | -€39,163 | -11.9% |
| Financial debts | 170/4 | €328,917 | €289,755 | -€39,163 | -11.9% |
| Amounts payable within one year | 42/48 | €89,843 | €249,327 | +€159,484 | +178% |
| Current portion of amounts payable after more than one year | 42 | €674 | €19,951 | +€19,277 | +2,861% |
| Trade debts | 44 | €19,246 | €17,739 | -€1,508 | -7.8% |
| Suppliers | 440/4 | €19,246 | €17,739 | -€1,508 | -7.8% |
| Taxes, remuneration and social security | 45 | €17,785 | €43,300 | +€25,515 | +143% |
| Taxes | 450/3 | €16,649 | €34,262 | +€17,613 | +106% |
| Remuneration and social security | 454/9 | €1,136 | €9,038 | +€7,902 | +695% |
| Other amounts payable | 47/48 | €52,138 | €168,337 | +€116,200 | +223% |
| Accrued charges and deferred income | 492/3 | €2,020 | - | -€2,020 | |
| Remuneration, social security and pensions | 62 | €6,129 | €38,813 | +€32,684 | +533% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,377 | €27,094 | +€1,717 | +6.8% |
| Other operating charges | 640/8 | €3,078 | €6,500 | +€3,421 | +111% |
| Gross operating margin | 9900 | €101,874 | €147,315 | +€45,440 | +44.6% |
| Operating profit (loss) | 9901 | €67,290 | €74,908 | +€7,618 | +11.3% |
| Financial income | 75/76B | €2,912 | €2,392 | -€521 | -17.9% |
| Recurring financial income | 75 | €2,912 | €2,392 | -€521 | -17.9% |
| Financial charges | 65/66B | €13,264 | €15,290 | +€2,026 | +15.3% |
| Recurring financial charges | 65 | €13,264 | €15,290 | +€2,026 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €56,938 | €62,010 | +€5,072 | +8.9% |
| Income taxes | 67/77 | €12,739 | €14,134 | +€1,395 | +11.0% |
| Profit (loss) for the period | 9904 | €44,199 | €47,875 | +€3,676 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €44,199 | €47,875 | +€3,676 | +8.3% |
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 17 October 2026 via checked.be.