SBH MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year -€21,566
down €21,566 (-29.9%), from €72,059 to €50,493
of which Trade receivables: -€13,550
- Cash -€14,147
down €14,147 (-34.7%), from €40,776 to €26,629
mainly Net result for the year (-€50,650) and Tax, wage and social debts (-€7,733)
- Deferred charges and accrued income +€3,639
new in 2025: €3,639
- Profit (loss) carried forward -€50,650
down €50,650 (-42.2%), from €119,940 to €69,290
- Other debts +€20,743
new in 2025: €20,743
- Tax, wage and social debts -€7,733
down €7,733 (-12.7%), from €60,749 to €53,016
of which Taxes: -€10,720
- Trade debts +€5,480
up €5,480 (+32.6%), from €16,811 to €22,291
- Staff costs +€58,706
up €58,706 (+63.9%), from €91,884 to €150,591
- Gross operating margin -€58,555
down €58,555 (-32.8%), from €178,620 to €120,065
- Taxes -€18,220
no longer reported in 2025 (was €18,220)
- Other operating charges +€3,773
up €3,773 (+236%), from €1,601 to €5,374
- Financial charges -€3,541
down €3,541 (-24.8%), from €14,298 to €10,757
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 | €222,560 | €190,403 | -€32,157 | -14.4% |
| Fixed assets | 21/28 | €23,725 | €24,987 | +€1,262 | +5.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €13,735 | €14,997 | +€1,262 | +9.2% |
| Furniture and vehicles | 24 | €3,137 | €1,689 | -€1,448 | -46.2% |
| Other tangible fixed assets | 26 | €10,598 | €13,307 | +€2,710 | +25.6% |
| Financial fixed assets | 28 | €9,990 | €9,990 | = | 0.0% |
| Current assets | 29/58 | €198,835 | €165,417 | -€33,418 | -16.8% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €36,000 | €34,656 | -€1,344 | -3.7% |
| Stocks | 30/36 | €36,000 | €34,656 | -€1,344 | -3.7% |
| Amounts receivable within one year | 40/41 | €72,059 | €50,493 | -€21,566 | -29.9% |
| Trade receivables | 40 | €18,291 | €4,741 | -€13,550 | -74.1% |
| Other amounts receivable | 41 | €53,768 | €45,752 | -€8,016 | -14.9% |
| Cash at bank and in hand | 54/58 | €40,776 | €26,629 | -€14,147 | -34.7% |
| Deferred charges and accrued income | 490/1 | - | €3,639 | +€3,639 | |
| Total equity and liabilities | 10/49 | €222,560 | €190,403 | -€32,157 | -14.4% |
| Equity | 10/15 | €145,000 | €94,350 | -€50,650 | -34.9% |
| Contributions | 10/11 | €15,060 | €15,060 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,940 | €69,290 | -€50,650 | -42.2% |
| Amounts payable | 17/49 | €77,560 | €96,053 | +€18,494 | +23.8% |
| Amounts payable within one year | 42/48 | €77,560 | €96,050 | +€18,490 | +23.8% |
| Trade debts | 44 | €16,811 | €22,291 | +€5,480 | +32.6% |
| Suppliers | 440/4 | €16,811 | €22,291 | +€5,480 | +32.6% |
| Taxes, remuneration and social security | 45 | €60,749 | €53,016 | -€7,733 | -12.7% |
| Taxes | 450/3 | €44,606 | €33,887 | -€10,720 | -24.0% |
| Remuneration and social security | 454/9 | €16,143 | €19,129 | +€2,987 | +18.5% |
| Other amounts payable | 47/48 | - | €20,743 | +€20,743 | |
| Accrued charges and deferred income | 492/3 | - | €4 | +€4 | |
| Remuneration, social security and pensions | 62 | €91,884 | €150,591 | +€58,706 | +63.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,009 | €3,993 | -€16 | -0.4% |
| Other operating charges | 640/8 | €1,601 | €5,374 | +€3,773 | +236% |
| Gross operating margin | 9900 | €178,620 | €120,065 | -€58,555 | -32.8% |
| Operating profit (loss) | 9901 | €81,125 | -€39,893 | -€121,018 | |
| Financial income | 75/76B | €3,251 | €0 | -€3,251 | -100.0% |
| Recurring financial income | 75 | €3,251 | €0 | -€3,251 | -100.0% |
| Financial charges | 65/66B | €14,298 | €10,757 | -€3,541 | -24.8% |
| Recurring financial charges | 65 | €14,298 | €10,757 | -€3,541 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €70,077 | -€50,650 | -€120,727 | |
| Income taxes | 67/77 | €18,220 | - | -€18,220 | |
| Profit (loss) for the period | 9904 | €51,858 | -€50,650 | -€102,508 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,858 | -€50,650 | -€102,508 |
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 15 October 2026 via checked.be.