SRH: what changed
Two fiscal 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.
SRH
Largest movements
- Tangible fixed assets -€13,395
down €13,395 (-25.5%), from €52,486 to €39,091
of which Leasing and similar rights: -€7,434
- Receivables within one year +€6,656
up €6,656 (+26.3%), from €25,328 to €31,984
of which Other amounts receivable: +€8,238
- Cash -€2,032
down €2,032 (-66.5%), from €3,056 to €1,024
mainly Trade debts (-€10,144) and Receivables within one year (-€6,656)
- Trade debts -€10,144
down €10,144 (-32.8%), from €30,904 to €20,760
- Profit (loss) carried forward +€9,058
up €9,058, from -€913 to €8,145
- Debts after one year -€5,743
down €5,743 (-20.1%), from €28,546 to €22,803
- Tax, wage and social debts -€2,000
down €2,000 (-48.3%), from €4,143 to €2,144
of which Taxes: -€2,092
- Depreciation +€4,380
up €4,380 (+48.6%), from €9,015 to €13,395
- Gross operating margin +€2,405
up €2,405 (+12.8%), from €18,809 to €21,215
- Financial income -€2,292
down €2,292 (-19.9%), from €11,532 to €9,241
of which Non-recurring financial income: -€11,317
- Financial charges -€2,195
down €2,195 (-24.2%), from €9,058 to €6,863
of which Non-recurring financial charges: -€1,973
- Other operating charges -€660
down €660 (-40.7%), from €1,619 to €960
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.
Cash bridge derived
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 | €83,140 | €74,784 | -€8,357 | -10.1% |
| Fixed assets | 21/28 | €53,406 | €40,011 | -€13,395 | -25.1% |
| Tangible fixed assets | 22/27 | €52,486 | €39,091 | -€13,395 | -25.5% |
| Plant, machinery and equipment | 23 | €11,592 | €8,995 | -€2,596 | -22.4% |
| Furniture and vehicles | 24 | €5,452 | €2,088 | -€3,364 | -61.7% |
| Leasing and similar rights | 25 | €35,442 | €28,008 | -€7,434 | -21.0% |
| Financial fixed assets | 28 | €920 | €920 | = | 0.0% |
| Current assets | 29/58 | €29,734 | €34,773 | +€5,038 | +16.9% |
| Stocks and contracts in progress | 3 | €1,350 | €1,350 | = | 0.0% |
| Stocks | 30/36 | €1,350 | €1,350 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,328 | €31,984 | +€6,656 | +26.3% |
| Trade receivables | 40 | €13,139 | €11,557 | -€1,582 | -12.0% |
| Other amounts receivable | 41 | €12,189 | €20,427 | +€8,238 | +67.6% |
| Cash at bank and in hand | 54/58 | €3,056 | €1,024 | -€2,032 | -66.5% |
| Deferred charges and accrued income | 490/1 | - | €415 | +€415 | |
| Total equity and liabilities | 10/49 | €83,140 | €74,784 | -€8,357 | -10.1% |
| Equity | 10/15 | €19,547 | €28,605 | +€9,058 | +46.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€913 | €8,145 | +€9,058 | |
| Amounts payable | 17/49 | €63,593 | €46,178 | -€17,415 | -27.4% |
| Amounts payable after more than one year | 17 | €28,546 | €22,803 | -€5,743 | -20.1% |
| Financial debts | 170/4 | €28,546 | €22,803 | -€5,743 | -20.1% |
| Amounts payable within one year | 42/48 | €35,047 | €23,375 | -€11,672 | -33.3% |
| Financial debts | 43 | - | €472 | +€472 | |
| Credit institutions | 430/8 | - | €472 | +€472 | |
| Trade debts | 44 | €30,904 | €20,760 | -€10,144 | -32.8% |
| Suppliers | 440/4 | €30,904 | €20,760 | -€10,144 | -32.8% |
| Taxes, remuneration and social security | 45 | €4,143 | €2,144 | -€2,000 | -48.3% |
| Taxes | 450/3 | €4,143 | €2,051 | -€2,092 | -50.5% |
| Remuneration and social security | 454/9 | - | €93 | +€93 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,015 | €13,395 | +€4,380 | +48.6% |
| Other operating charges | 640/8 | €1,619 | €960 | -€660 | -40.7% |
| Gross operating margin | 9900 | €18,809 | €21,215 | +€2,405 | +12.8% |
| Operating profit (loss) | 9901 | €8,174 | €6,860 | -€1,314 | -16.1% |
| Financial income | 75/76B | €11,532 | €9,241 | -€2,292 | -19.9% |
| Recurring financial income | 75 | €215 | €9,241 | +€9,025 | +4189.7% |
| Non-recurring financial income | 76B | €11,317 | - | -€11,317 | |
| Financial charges | 65/66B | €9,058 | €6,863 | -€2,195 | -24.2% |
| Recurring financial charges | 65 | €6,839 | €6,616 | -€223 | -3.3% |
| Non-recurring financial charges | 66B | €2,219 | €247 | -€1,973 | -88.9% |
| Profit (loss) for the period before taxes | 9903 | €10,649 | €9,238 | -€1,411 | -13.3% |
| Income taxes | 67/77 | €295 | €180 | -€115 | -39.0% |
| Profit (loss) for the period | 9904 | €10,355 | €9,058 | -€1,296 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,355 | €9,058 | -€1,296 | -12.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.