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Line	Code	2024	2025	Change	%
Total assets	20/58	€451,785	€434,210	-€17,575	-3.9%
Formation expenses	20	€1,809	€739	-€1,070	-59.1%
Fixed assets	21/28	€384,345	€366,875	-€17,469	-4.5%
Intangible fixed assets	21	€57,032	€48,532	-€8,500	-14.9%
Tangible fixed assets	22/27	€327,313	€318,344	-€8,969	-2.7%
Land and buildings	22	€321,490	€314,123	-€7,367	-2.3%
Plant, machinery and equipment	23	€5,823	€4,221	-€1,602	-27.5%
Current assets	29/58	€65,632	€66,596	+€964	+1.5%
Amounts receivable within one year	40/41	€61,265	€65,496	+€4,231	+6.9%
Trade receivables	40	€61,265	€64,919	+€3,654	+6.0%
Other amounts receivable	41	-	€577	+€577
Cash at bank and in hand	54/58	€4,104	€853	-€3,251	-79.2%
Deferred charges and accrued income	490/1	€263	€246	-€17	-6.3%
Total equity and liabilities	10/49	€451,785	€434,210	-€17,575	-3.9%
Equity	10/15	-€114,473	-€159,101	-€44,628	-39.0%
Contributions	10/11	€10,000	€10,000	=	0.0%
Profit (loss) carried forward	14	-€124,473	-€169,101	-€44,628	-35.9%
Amounts payable	17/49	€566,258	€593,311	+€27,053	+4.8%
Amounts payable after more than one year	17	€365,888	€363,303	-€2,585	-0.7%
Financial debts	170/4	€365,888	€363,303	-€2,585	-0.7%
Amounts payable within one year	42/48	€199,026	€230,008	+€30,982	+15.6%
Current portion of amounts payable after more than one year	42	€52,758	€47,130	-€5,628	-10.7%
Financial debts	43	€4,782	€10,585	+€5,804	+121%
Credit institutions	430/8	€4,782	€10,585	+€5,804	+121%
Trade debts	44	€101,714	€164,101	+€62,387	+61.3%
Suppliers	440/4	€101,714	€164,101	+€62,387	+61.3%
Advances received on contracts in progress	46	€26,130	-	-€26,130
Taxes, remuneration and social security	45	€4,050	€3,592	-€458	-11.3%
Taxes	450/3	€4,050	€3,592	-€458	-11.3%
Other amounts payable	47/48	€9,593	€4,599	-€4,993	-52.1%
Accrued charges and deferred income	492/3	€1,344	-	-€1,344
Remuneration, social security and pensions	62	€4,049	€1,942	-€2,107	-52.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets	630	€18,534	€18,539	+€5	0.0%
Other operating charges	640/8	€3,837	€2,014	-€1,823	-47.5%
Non-recurring operating charges	66A	€36,154	€4,002	-€32,152	-88.9%
Gross operating margin	9900	€69,122	€30,955	-€38,166	-55.2%
Operating profit (loss)	9901	€6,548	€4,459	-€2,089	-31.9%
Financial income	75/76B	€162	€1,931	+€1,769	+1,093%
Recurring financial income	75	€162	€58	-€104	-64.2%
Non-recurring financial income	76B	-	€1,873	+€1,873
Financial charges	65/66B	€35,738	€50,699	+€14,961	+41.9%
Recurring financial charges	65	€35,738	€43,034	+€7,297	+20.4%
Non-recurring financial charges	66B	-	€7,665	+€7,665
Profit (loss) for the period before taxes	9903	-€29,028	-€44,309	-€15,282	-52.6%
Income taxes	67/77	€225	€319	+€94	+41.7%
Profit (loss) for the period	9904	-€29,253	-€44,628	-€15,375	-52.6%
Profit (loss) for the period to be appropriated	9905	-€29,253	-€44,628	-€15,375	-52.6%

SANTIL: value indication

SANTIL: value indication

Position among the sector peers

What moved between 2024 and 2025

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Change in the result, 2024 to 2025

Derived cash bridge

Value

Indicative value of the equity

Adjusted equity

Capitalised earnings

Your EBITDA multiple

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