SAHIN-LOGISTICS: what changed
SAHIN-LOGISTICS
Largest movements
- Receivables within one year +€19,246
up €19,246 (+30.4%), from €63,350 to €82,596
of which Trade receivables: +€18,776
- Cash -€13,359
down €13,359 (-53.3%), from €25,045 to €11,685
mainly Receivables within one year (-€19,246) and Investment in fixed assets (net) (-€8,659)
- Current portion of long-term debt +€4,721
up €4,721 (+105%), from €4,498 to €9,219
- Debts after one year +€4,411
up €4,411 (+22.5%), from €19,635 to €24,046
- Tax, wage and social debts -€3,829
down €3,829 (-11.9%), from €32,285 to €28,456
of which Taxes: -€4,039
- Trade debts +€2,652
up €2,652 (+278%), from €954 to €3,606
- Other debts -€1,554
down €1,554 (-25.6%), from €6,074 to €4,520
- Gross operating margin -€35,419
down €35,419 (-22.9%), from €154,952 to €119,533
- Staff costs -€12,068
down €12,068 (-10.7%), from €112,426 to €100,358
- Taxes -€7,708
down €7,708 (-95.5%), from €8,074 to €366
- Depreciation +€2,167
up €2,167 (+30.5%), from €7,099 to €9,266
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €120,169 | €126,268 | +€6,099 | +5.1% |
| Fixed assets | 21/28 | €27,971 | €27,363 | -€608 | -2.2% |
| Tangible fixed assets | 22/27 | €27,701 | €26,958 | -€743 | -2.7% |
| Furniture and vehicles | 24 | €27,701 | €26,958 | -€743 | -2.7% |
| Financial fixed assets | 28 | €270 | €405 | +€135 | +50.0% |
| Current assets | 29/58 | €92,198 | €98,905 | +€6,707 | +7.3% |
| Amounts receivable within one year | 40/41 | €63,350 | €82,596 | +€19,246 | +30.4% |
| Trade receivables | 40 | €63,350 | €82,126 | +€18,776 | +29.6% |
| Other amounts receivable | 41 | - | €470 | +€470 | |
| Cash at bank and in hand | 54/58 | €25,045 | €11,685 | -€13,359 | -53.3% |
| Deferred charges and accrued income | 490/1 | €3,804 | €4,624 | +€820 | +21.6% |
| Total equity and liabilities | 10/49 | €120,169 | €126,268 | +€6,099 | +5.1% |
| Equity | 10/15 | €56,722 | €56,421 | -€302 | -0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €44,000 | €44,000 | = | 0.0% |
| Distributable reserves | 133 | €44,000 | €44,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,522 | €6,221 | -€302 | -4.6% |
| Amounts payable | 17/49 | €63,447 | €69,848 | +€6,401 | +10.1% |
| Amounts payable after more than one year | 17 | €19,635 | €24,046 | +€4,411 | +22.5% |
| Financial debts | 170/4 | €19,635 | €24,046 | +€4,411 | +22.5% |
| Amounts payable within one year | 42/48 | €43,811 | €45,801 | +€1,990 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €4,498 | €9,219 | +€4,721 | +105% |
| Trade debts | 44 | €954 | €3,606 | +€2,652 | +278% |
| Suppliers | 440/4 | €954 | €3,606 | +€2,652 | +278% |
| Taxes, remuneration and social security | 45 | €32,285 | €28,456 | -€3,829 | -11.9% |
| Taxes | 450/3 | €21,347 | €17,308 | -€4,039 | -18.9% |
| Remuneration and social security | 454/9 | €10,938 | €11,148 | +€210 | +1.9% |
| Other amounts payable | 47/48 | €6,074 | €4,520 | -€1,554 | -25.6% |
| Remuneration, social security and pensions | 62 | €112,426 | €100,358 | -€12,068 | -10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,099 | €9,266 | +€2,167 | +30.5% |
| Other operating charges | 640/8 | €3,565 | €2,130 | -€1,436 | -40.3% |
| Non-recurring operating charges | 66A | €3,872 | €5,661 | +€1,789 | +46.2% |
| Gross operating margin | 9900 | €154,952 | €119,533 | -€35,419 | -22.9% |
| Operating profit (loss) | 9901 | €27,989 | €2,118 | -€25,871 | -92.4% |
| Financial income | 75/76B | €21 | €99 | +€79 | +379% |
| Recurring financial income | 75 | €21 | €99 | +€79 | +379% |
| Financial charges | 65/66B | €1,348 | €2,153 | +€805 | +59.7% |
| Recurring financial charges | 65 | €1,348 | €2,153 | +€805 | +59.7% |
| Profit (loss) for the period before taxes | 9903 | €26,661 | €64 | -€26,597 | -99.8% |
| Income taxes | 67/77 | €8,074 | €366 | -€7,708 | -95.5% |
| Profit (loss) for the period | 9904 | €18,588 | -€302 | -€18,889 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,588 | -€302 | -€18,889 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.