SAN'T: 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.
SAN'T
Largest movements
- Cash +€215,741
up €215,741 (+107%), from €201,450 to €417,191
mainly Net result for the year (+€246,119) and Other debts (+€113,490)
- Tangible fixed assets +€17,692
up €17,692 (+76.0%), from €23,291 to €40,983
of which Land and buildings: +€12,521
- Receivables within one year +€6,529
up €6,529 (+4.2%), from €156,754 to €163,283
of which Trade receivables: +€26,529
- Reserves +€186,119
up €186,119 (+67.0%), from €277,834 to €463,953
of which Distributable reserves: +€122,969
- Other debts +€113,490
up €113,490 (+723%), from €15,692 to €129,182
- Current portion of long-term debt -€27,167
down €27,167 (-72.8%), from €37,319 to €10,152
- Tax, wage and social debts -€14,504
down €14,504 (-34.7%), from €41,801 to €27,297
- Debts after one year -€9,268
down €9,268 (-61.0%), from €15,202 to €5,934
- Gross operating margin +€96,473
up €96,473 (+30.8%), from €313,731 to €410,204
- Financial charges +€19,941
up €19,941 (+37.1%), from €53,754 to €73,695
- Taxes +€18,059
up €18,059 (+29.4%), from €61,478 to €79,537
- Depreciation -€8,978
down €8,978 (-46.7%), from €19,224 to €10,246
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 | €404,376 | €642,759 | +€238,383 | +59.0% |
| Fixed assets | 21/28 | €23,291 | €40,983 | +€17,692 | +76.0% |
| Tangible fixed assets | 22/27 | €23,291 | €40,983 | +€17,692 | +76.0% |
| Land and buildings | 22 | - | €12,521 | +€12,521 | |
| Plant, machinery and equipment | 23 | - | €3,309 | +€3,309 | |
| Furniture and vehicles | 24 | €23,291 | €25,153 | +€1,862 | +8.0% |
| Current assets | 29/58 | €381,085 | €601,776 | +€220,691 | +57.9% |
| Amounts receivable within one year | 40/41 | €156,754 | €163,283 | +€6,529 | +4.2% |
| Trade receivables | 40 | €136,754 | €163,283 | +€26,529 | +19.4% |
| Other amounts receivable | 41 | €20,000 | - | -€20,000 | |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €201,450 | €417,191 | +€215,741 | +107% |
| Deferred charges and accrued income | 490/1 | €2,881 | €1,302 | -€1,579 | -54.8% |
| Total equity and liabilities | 10/49 | €404,376 | €642,759 | +€238,383 | +59.0% |
| Equity | 10/15 | €284,074 | €470,193 | +€186,119 | +65.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €277,834 | €463,953 | +€186,119 | +67.0% |
| Tax-exempt reserves | 132 | €61,045 | €124,195 | +€63,150 | +103% |
| Distributable reserves | 133 | €216,789 | €339,758 | +€122,969 | +56.7% |
| Profit (loss) carried forward | 14 | €4,240 | €4,240 | +€0 | 0.0% |
| Amounts payable | 17/49 | €120,302 | €172,566 | +€52,264 | +43.4% |
| Amounts payable after more than one year | 17 | €15,202 | €5,934 | -€9,268 | -61.0% |
| Financial debts | 170/4 | €15,202 | €5,934 | -€9,268 | -61.0% |
| Amounts payable within one year | 42/48 | €97,049 | €166,631 | +€69,582 | +71.7% |
| Current portion of amounts payable after more than one year | 42 | €37,319 | €10,152 | -€27,167 | -72.8% |
| Trade debts | 44 | €2,237 | - | -€2,237 | |
| Suppliers | 440/4 | €2,237 | - | -€2,237 | |
| Taxes, remuneration and social security | 45 | €41,801 | €27,297 | -€14,504 | -34.7% |
| Taxes | 450/3 | €41,801 | €27,297 | -€14,504 | -34.7% |
| Other amounts payable | 47/48 | €15,692 | €129,182 | +€113,490 | +723% |
| Accrued charges and deferred income | 492/3 | €8,051 | - | -€8,051 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,224 | €10,246 | -€8,978 | -46.7% |
| Other operating charges | 640/8 | €220 | €607 | +€387 | +176% |
| Gross operating margin | 9900 | €313,731 | €410,204 | +€96,473 | +30.8% |
| Operating profit (loss) | 9901 | €294,287 | €399,351 | +€105,064 | +35.7% |
| Financial charges | 65/66B | €53,754 | €73,695 | +€19,941 | +37.1% |
| Recurring financial charges | 65 | €53,754 | €73,695 | +€19,941 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | €240,533 | €325,656 | +€85,123 | +35.4% |
| Income taxes | 67/77 | €61,478 | €79,537 | +€18,059 | +29.4% |
| Profit (loss) for the period | 9904 | €179,055 | €246,119 | +€67,064 | +37.5% |
| Transfer to tax-exempt reserves | 689 | €61,045 | €63,150 | +€2,105 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €118,010 | €182,969 | +€64,959 | +55.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.