DE SAN: 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.
DE SAN
Largest movements
- Cash +€156,396
up €156,396 (+169.6%), from €92,238 to €248,634
mainly Current investments (+€120,000) and Net result for the year (+€42,195)
- Current investments -€120,000
down €120,000 (-100.0%), from €120,000 to €0
- Tangible fixed assets -€6,041
down €6,041 (-26.2%), from €23,018 to €16,977
of which Furniture and vehicles: -€6,095
- Reserves +€21,513
up €21,513 (+10.1%), from €213,737 to €235,251
- Accrued charges and deferred income +€3,671
new in 2025: €3,671
- Other debts +€2,787
up €2,787 (+34.3%), from €8,115 to €10,902
- Gross operating margin -€8,691
down €8,691 (-11.8%), from €73,609 to €64,918
- Taxes -€1,775
down €1,775 (-10.4%), from €17,053 to €15,278
- Financial income +€1,196
up €1,196 (+77.6%), from €1,542 to €2,738
- Depreciation -€996
down €996 (-9.7%), from €10,251 to €9,255
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 | €248,600 | €278,569 | +€29,969 | +12.1% |
| Fixed assets | 21/28 | €23,429 | €17,387 | -€6,041 | -25.8% |
| Tangible fixed assets | 22/27 | €23,018 | €16,977 | -€6,041 | -26.2% |
| Plant, machinery and equipment | 23 | €260 | €2,909 | +€2,649 | +1020.0% |
| Furniture and vehicles | 24 | €14,945 | €8,850 | -€6,095 | -40.8% |
| Other tangible fixed assets | 26 | €7,814 | €5,218 | -€2,595 | -33.2% |
| Financial fixed assets | 28 | €410 | €410 | = | 0.0% |
| Current assets | 29/58 | €225,171 | €261,181 | +€36,010 | +16.0% |
| Amounts receivable within one year | 40/41 | €9,076 | €10,248 | +€1,172 | +12.9% |
| Trade receivables | 40 | €5,053 | €9,388 | +€4,334 | +85.8% |
| Other amounts receivable | 41 | €4,023 | €860 | -€3,163 | -78.6% |
| Current investments | 50/53 | €120,000 | €0 | -€120,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €92,238 | €248,634 | +€156,396 | +169.6% |
| Deferred charges and accrued income | 490/1 | €3,857 | €2,300 | -€1,557 | -40.4% |
| Total equity and liabilities | 10/49 | €248,600 | €278,569 | +€29,969 | +12.1% |
| Equity | 10/15 | €234,389 | €255,902 | +€21,513 | +9.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €213,737 | €235,251 | +€21,513 | +10.1% |
| Distributable reserves | 133 | €213,737 | €235,251 | +€21,513 | +10.1% |
| Profit (loss) carried forward | 14 | €2,059 | €2,059 | = | 0.0% |
| Amounts payable | 17/49 | €14,211 | €22,667 | +€8,456 | +59.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €14,211 | €18,996 | +€4,784 | +33.7% |
| Current portion of amounts payable after more than one year | 42 | €1,260 | €0 | -€1,260 | -100.0% |
| Trade debts | 44 | €1,137 | €3,500 | +€2,363 | +207.9% |
| Suppliers | 440/4 | €1,137 | €0 | -€1,137 | -100.0% |
| Bills of exchange payable | 441 | - | €3,500 | +€3,500 | |
| Taxes, remuneration and social security | 45 | €3,699 | €4,594 | +€895 | +24.2% |
| Taxes | 450/3 | €3,489 | €4,594 | +€1,105 | +31.7% |
| Remuneration and social security | 454/9 | €210 | €0 | -€210 | -100.0% |
| Other amounts payable | 47/48 | €8,115 | €10,902 | +€2,787 | +34.3% |
| Accrued charges and deferred income | 492/3 | - | €3,671 | +€3,671 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,251 | €9,255 | -€996 | -9.7% |
| Other operating charges | 640/8 | €696 | €665 | -€31 | -4.4% |
| Gross operating margin | 9900 | €73,609 | €64,918 | -€8,691 | -11.8% |
| Operating profit (loss) | 9901 | €62,662 | €54,998 | -€7,664 | -12.2% |
| Financial income | 75/76B | €1,542 | €2,738 | +€1,196 | +77.6% |
| Recurring financial income | 75 | €1,542 | €2,738 | +€1,196 | +77.6% |
| Financial charges | 65/66B | €238 | €262 | +€24 | +10.2% |
| Recurring financial charges | 65 | €238 | €262 | +€24 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €63,966 | €57,473 | -€6,493 | -10.2% |
| Income taxes | 67/77 | €17,053 | €15,278 | -€1,775 | -10.4% |
| Profit (loss) for the period | 9904 | €46,913 | €42,195 | -€4,718 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,913 | €42,195 | -€4,718 | -10.1% |
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 12 October 2026 via checked.be.