SBH & CIE: 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.
SBH & CIE
Largest movements
- Receivables within one year +€47,971
up €47,971 (+35.1%), from €136,778 to €184,750
of which Other amounts receivable: +€35,646
- Cash +€9,588
up €9,588 (+30.4%), from €31,488 to €41,076
mainly Net result for the year (+€62,845) and Other debts (+€25,000)
- Advances received -€33,777
no longer reported in 2025 (was €33,777)
- Other debts +€25,000
up €25,000 (+100%), from €25,000 to €50,000
- Trade debts +€24,908
up €24,908 (+76.5%), from €32,542 to €57,450
- Tax, wage and social debts +€24,678
up €24,678 (+121%), from €20,318 to €44,996
of which Taxes: +€23,278
- Profit (loss) carried forward +€17,845
up €17,845 (+24.0%), from €74,480 to €92,324
- Gross operating margin +€68,094
up €68,094 (+53.7%), from €126,826 to €194,920
- Staff costs +€44,522
up €44,522 (+94.4%), from €47,146 to €91,667
- Taxes +€12,286
up €12,286 (+119%), from €10,335 to €22,621
- Other operating charges +€3,139
up €3,139 (+40.6%), from €7,728 to €10,867
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 | €206,116 | €264,770 | +€58,654 | +28.5% |
| Fixed assets | 21/28 | €37,850 | €38,944 | +€1,095 | +2.9% |
| Tangible fixed assets | 22/27 | €18,850 | €19,944 | +€1,095 | +5.8% |
| Plant, machinery and equipment | 23 | €2,371 | €3,062 | +€691 | +29.2% |
| Furniture and vehicles | 24 | €16,479 | €16,883 | +€404 | +2.4% |
| Financial fixed assets | 28 | €19,000 | €19,000 | = | 0.0% |
| Current assets | 29/58 | €168,267 | €225,826 | +€57,559 | +34.2% |
| Amounts receivable within one year | 40/41 | €136,778 | €184,750 | +€47,971 | +35.1% |
| Trade receivables | 40 | €90,520 | €102,845 | +€12,325 | +13.6% |
| Other amounts receivable | 41 | €46,258 | €81,904 | +€35,646 | +77.1% |
| Cash at bank and in hand | 54/58 | €31,488 | €41,076 | +€9,588 | +30.4% |
| Total equity and liabilities | 10/49 | €206,116 | €264,770 | +€58,654 | +28.5% |
| Equity | 10/15 | €94,480 | €112,324 | +€17,845 | +18.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,480 | €92,324 | +€17,845 | +24.0% |
| Amounts payable | 17/49 | €111,637 | €152,446 | +€40,809 | +36.6% |
| Amounts payable within one year | 42/48 | €111,637 | €152,446 | +€40,809 | +36.6% |
| Trade debts | 44 | €32,542 | €57,450 | +€24,908 | +76.5% |
| Suppliers | 440/4 | €32,542 | €57,450 | +€24,908 | +76.5% |
| Advances received on contracts in progress | 46 | €33,777 | - | -€33,777 | |
| Taxes, remuneration and social security | 45 | €20,318 | €44,996 | +€24,678 | +121% |
| Taxes | 450/3 | €10,082 | €33,360 | +€23,278 | +231% |
| Remuneration and social security | 454/9 | €10,236 | €11,636 | +€1,400 | +13.7% |
| Other amounts payable | 47/48 | €25,000 | €50,000 | +€25,000 | +100% |
| Remuneration, social security and pensions | 62 | €47,146 | €91,667 | +€44,522 | +94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,027 | €6,705 | +€678 | +11.3% |
| Other operating charges | 640/8 | €7,728 | €10,867 | +€3,139 | +40.6% |
| Non-recurring operating charges | 66A | €5,098 | - | -€5,098 | |
| Gross operating margin | 9900 | €126,826 | €194,920 | +€68,094 | +53.7% |
| Operating profit (loss) | 9901 | €60,827 | €85,680 | +€24,853 | +40.9% |
| Financial income | 75/76B | €29 | €9 | -€20 | -68.9% |
| Recurring financial income | 75 | €29 | €9 | -€20 | -68.9% |
| Financial charges | 65/66B | €222 | €224 | +€2 | +0.7% |
| Recurring financial charges | 65 | €222 | €224 | +€2 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €60,634 | €85,466 | +€24,832 | +41.0% |
| Income taxes | 67/77 | €10,335 | €22,621 | +€12,286 | +119% |
| Profit (loss) for the period | 9904 | €50,299 | €62,845 | +€12,546 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,299 | €62,845 | +€12,546 | +24.9% |
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 20 October 2026 via checked.be.