SANTA: 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.
SANTA
Largest movements
- Tangible fixed assets +€86,011
up €86,011 (+49.5%), from €173,922 to €259,933
of which Land and buildings: +€86,990
- Receivables within one year -€76,734
down €76,734 (-10.5%), from €731,751 to €655,017
of which Other amounts receivable: -€68,234
- Reserves +€16,379
up €16,379 (+1.9%), from €878,086 to €894,465
of which Distributable reserves: +€16,379
- Gross operating margin +€14,754
up €14,754, from -€12,251 to €2,503
- Depreciation +€5,993
up €5,993 (+93.2%), from €6,432 to €12,424
- Financial income -€3,454
down €3,454 (-9.4%), from €36,600 to €33,146
- Taxes +€942
up €942 (+28.5%), from €3,310 to €4,252
- Other operating charges +€381
up €381 (+18.1%), from €2,106 to €2,487
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 | €942,270 | €958,930 | +€16,660 | +1.8% |
| Fixed assets | 21/28 | €173,922 | €259,933 | +€86,011 | +49.5% |
| Tangible fixed assets | 22/27 | €173,922 | €259,933 | +€86,011 | +49.5% |
| Land and buildings | 22 | €170,569 | €257,560 | +€86,990 | +51.0% |
| Furniture and vehicles | 24 | €3,353 | €2,373 | -€980 | -29.2% |
| Current assets | 29/58 | €768,348 | €698,997 | -€69,350 | -9.0% |
| Amounts receivable within one year | 40/41 | €731,751 | €655,017 | -€76,734 | -10.5% |
| Trade receivables | 40 | €8,500 | €0 | -€8,500 | -100% |
| Other amounts receivable | 41 | €723,251 | €655,017 | -€68,234 | -9.4% |
| Cash at bank and in hand | 54/58 | €36,596 | €43,980 | +€7,384 | +20.2% |
| Total equity and liabilities | 10/49 | €942,270 | €958,930 | +€16,660 | +1.8% |
| Equity | 10/15 | €940,086 | €956,465 | +€16,379 | +1.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €878,086 | €894,465 | +€16,379 | +1.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €871,886 | €888,265 | +€16,379 | +1.9% |
| Amounts payable | 17/49 | €2,184 | €2,465 | +€281 | +12.9% |
| Amounts payable within one year | 42/48 | €2,184 | €2,465 | +€281 | +12.9% |
| Trade debts | 44 | €2,184 | €2,262 | +€78 | +3.6% |
| Suppliers | 440/4 | €2,184 | €2,262 | +€78 | +3.6% |
| Taxes, remuneration and social security | 45 | - | €203 | +€203 | |
| Taxes | 450/3 | - | €203 | +€203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,432 | €12,424 | +€5,993 | +93.2% |
| Other operating charges | 640/8 | €2,106 | €2,487 | +€381 | +18.1% |
| Gross operating margin | 9900 | -€12,251 | €2,503 | +€14,754 | |
| Operating profit (loss) | 9901 | -€20,789 | -€12,409 | +€8,380 | +40.3% |
| Financial income | 75/76B | €36,600 | €33,146 | -€3,454 | -9.4% |
| Recurring financial income | 75 | €36,600 | €33,146 | -€3,454 | -9.4% |
| Financial charges | 65/66B | €39 | €106 | +€67 | +171% |
| Recurring financial charges | 65 | €39 | €106 | +€67 | +171% |
| Profit (loss) for the period before taxes | 9903 | €15,772 | €20,631 | +€4,859 | +30.8% |
| Income taxes | 67/77 | €3,310 | €4,252 | +€942 | +28.5% |
| Profit (loss) for the period | 9904 | €12,463 | €16,379 | +€3,917 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,463 | €16,379 | +€3,917 | +31.4% |
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 26 October 2026 via checked.be.