SAHO: 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.
SAHO
Largest movements
- Receivables within one year +€21,545
up €21,545 (+154%), from €14,005 to €35,550
of which Trade receivables: +€21,780
- Cash -€5,697
down €5,697 (-70.6%), from €8,064 to €2,367
mainly Receivables within one year (-€21,545) and Debts after one year (-€10,881)
- Other debts +€13,498
up €13,498 (+64.4%), from €20,958 to €34,456
- Reserves +€11,819
up €11,819 (+127%), from €9,273 to €21,093
- Debts after one year -€10,881
down €10,881 (-17.8%), from €61,133 to €50,252
- Tax, wage and social debts +€2,031
up €2,031 (+16.1%), from €12,580 to €14,611
of which Taxes: +€3,998
- Gross operating margin +€3,609
up €3,609 (+21.2%), from €17,026 to €20,635
- Taxes +€840
up €840 (+21.6%), from €3,897 to €4,737
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 | €122,069 | €138,920 | +€16,851 | +13.8% |
| Fixed assets | 21/28 | €100,000 | €100,883 | +€883 | +0.9% |
| Tangible fixed assets | 22/27 | - | €883 | +€883 | |
| Furniture and vehicles | 24 | - | €883 | +€883 | |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €22,069 | €38,037 | +€15,968 | +72.4% |
| Amounts receivable within one year | 40/41 | €14,005 | €35,550 | +€21,545 | +154% |
| Trade receivables | 40 | €13,770 | €35,550 | +€21,780 | +158% |
| Other amounts receivable | 41 | €235 | €0 | -€235 | -100% |
| Cash at bank and in hand | 54/58 | €8,064 | €2,367 | -€5,697 | -70.6% |
| Deferred charges and accrued income | 490/1 | - | €120 | +€120 | |
| Total equity and liabilities | 10/49 | €122,069 | €138,920 | +€16,851 | +13.8% |
| Equity | 10/15 | €14,273 | €26,093 | +€11,819 | +82.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,273 | €21,093 | +€11,819 | +127% |
| Distributable reserves | 133 | €9,273 | €21,093 | +€11,819 | +127% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €107,796 | €112,827 | +€5,032 | +4.7% |
| Amounts payable after more than one year | 17 | €61,133 | €50,252 | -€10,881 | -17.8% |
| Financial debts | 170/4 | €61,133 | €50,252 | -€10,881 | -17.8% |
| Amounts payable within one year | 42/48 | €46,424 | €62,371 | +€15,947 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | €11,313 | €11,768 | +€455 | +4.0% |
| Trade debts | 44 | €1,573 | €1,536 | -€37 | -2.4% |
| Suppliers | 440/4 | €1,573 | €1,536 | -€37 | -2.4% |
| Taxes, remuneration and social security | 45 | €12,580 | €14,611 | +€2,031 | +16.1% |
| Taxes | 450/3 | €10,614 | €14,611 | +€3,998 | +37.7% |
| Remuneration and social security | 454/9 | €1,967 | €0 | -€1,967 | -100% |
| Other amounts payable | 47/48 | €20,958 | €34,456 | +€13,498 | +64.4% |
| Accrued charges and deferred income | 492/3 | €238 | €204 | -€34 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €82 | +€82 | |
| Other operating charges | 640/8 | €150 | €226 | +€76 | +50.7% |
| Gross operating margin | 9900 | €17,026 | €20,635 | +€3,609 | +21.2% |
| Operating profit (loss) | 9901 | €16,876 | €20,327 | +€3,451 | +20.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,748 | €2,938 | +€190 | +6.9% |
| Recurring financial charges | 65 | €2,748 | €2,938 | +€190 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €14,128 | €17,389 | +€3,261 | +23.1% |
| Income taxes | 67/77 | €3,897 | €4,737 | +€840 | +21.6% |
| Profit (loss) for the period | 9904 | €10,231 | €12,652 | +€2,421 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,231 | €12,652 | +€2,421 | +23.7% |
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 18 October 2026 via checked.be.