ALESSANDRO DE SANTIS: 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.
ALESSANDRO DE SANTIS
Largest movements
- Cash +€58,691
up €58,691 (+56.5%), from €103,789 to €162,479
mainly Net result for the year (+€84,778) and Tax, wage and social debts (+€26,134)
- Intangible fixed assets -€21,000
down €21,000 (-12.8%), from €164,531 to €143,531
- Receivables within one year +€5,132
up €5,132 (+14.3%), from €35,937 to €41,069
of which Other amounts receivable: +€10,860
- Tangible fixed assets -€4,502
down €4,502 (-72.3%), from €6,225 to €1,723
of which Furniture and vehicles: -€4,397
- Profit (loss) carried forward +€84,778
up €84,778 (+153.3%), from €55,307 to €140,085
- Trade debts -€31,970
down €31,970 (-62.8%), from €50,873 to €18,903
- Debts after one year -€29,925
down €29,925 (-23.7%), from €126,335 to €96,410
- Tax, wage and social debts +€26,134
up €26,134 (+94.9%), from €27,527 to €53,662
- Other debts -€12,177
down €12,177 (-41.7%), from €29,187 to €17,010
- Gross operating margin +€82,850
up €82,850 (+134.5%), from €61,615 to €144,465
- Taxes +€20,648
up €20,648 (+308.4%), from €6,694 to €27,342
- Other operating charges -€4,792
down €4,792 (-70.9%), from €6,757 to €1,965
- Financial income +€3,240
up €3,240 (+376.4%), from €861 to €4,101
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 | €322,493 | €360,597 | +€38,104 | +11.8% |
| Fixed assets | 21/28 | €170,755 | €145,253 | -€25,502 | -14.9% |
| Intangible fixed assets | 21 | €164,531 | €143,531 | -€21,000 | -12.8% |
| Tangible fixed assets | 22/27 | €6,225 | €1,723 | -€4,502 | -72.3% |
| Furniture and vehicles | 24 | €5,249 | €852 | -€4,397 | -83.8% |
| Other tangible fixed assets | 26 | €976 | €870 | -€106 | -10.8% |
| Current assets | 29/58 | €151,738 | €215,344 | +€63,606 | +41.9% |
| Amounts receivable within one year | 40/41 | €35,937 | €41,069 | +€5,132 | +14.3% |
| Trade receivables | 40 | €35,937 | €30,209 | -€5,728 | -15.9% |
| Other amounts receivable | 41 | - | €10,860 | +€10,860 | |
| Cash at bank and in hand | 54/58 | €103,789 | €162,479 | +€58,691 | +56.5% |
| Deferred charges and accrued income | 490/1 | €12,013 | €11,796 | -€216 | -1.8% |
| Total equity and liabilities | 10/49 | €322,493 | €360,597 | +€38,104 | +11.8% |
| Equity | 10/15 | €56,807 | €141,585 | +€84,778 | +149.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,307 | €140,085 | +€84,778 | +153.3% |
| Amounts payable | 17/49 | €265,686 | €219,012 | -€46,674 | -17.6% |
| Amounts payable after more than one year | 17 | €126,335 | €96,410 | -€29,925 | -23.7% |
| Financial debts | 170/4 | €126,335 | €96,410 | -€29,925 | -23.7% |
| Amounts payable within one year | 42/48 | €138,831 | €122,214 | -€16,617 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €31,243 | €32,371 | +€1,127 | +3.6% |
| Financial debts | 43 | - | €268 | +€268 | |
| Credit institutions | 430/8 | - | €268 | +€268 | |
| Trade debts | 44 | €50,873 | €18,903 | -€31,970 | -62.8% |
| Suppliers | 440/4 | €50,873 | €18,903 | -€31,970 | -62.8% |
| Taxes, remuneration and social security | 45 | €27,527 | €53,662 | +€26,134 | +94.9% |
| Taxes | 450/3 | €27,527 | €53,662 | +€26,134 | +94.9% |
| Other amounts payable | 47/48 | €29,187 | €17,010 | -€12,177 | -41.7% |
| Accrued charges and deferred income | 492/3 | €520 | €388 | -€132 | -25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,092 | €25,502 | -€590 | -2.3% |
| Other operating charges | 640/8 | €6,757 | €1,965 | -€4,792 | -70.9% |
| Non-recurring operating charges | 66A | - | €592 | +€592 | |
| Gross operating margin | 9900 | €61,615 | €144,465 | +€82,850 | +134.5% |
| Operating profit (loss) | 9901 | €28,766 | €116,407 | +€87,641 | +304.7% |
| Financial income | 75/76B | €861 | €4,101 | +€3,240 | +376.4% |
| Recurring financial income | 75 | €861 | €4,101 | +€3,240 | +376.4% |
| Financial charges | 65/66B | €7,688 | €8,388 | +€700 | +9.1% |
| Recurring financial charges | 65 | €7,688 | €8,388 | +€700 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €21,939 | €112,120 | +€90,181 | +411.1% |
| Income taxes | 67/77 | €6,694 | €27,342 | +€20,648 | +308.4% |
| Profit (loss) for the period | 9904 | €15,244 | €84,778 | +€69,534 | +456.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,244 | €84,778 | +€69,534 | +456.1% |
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 10 October 2026 via checked.be.