SANTAL ESTATES: 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.
SANTAL ESTATES
Largest movements
- Stocks and contracts +€463,722
up €463,722 (+453.9%), from €102,164 to €565,886
- Cash +€7,157
up €7,157 (+204.8%), from €3,495 to €10,652
mainly Short-term financial debts (+€475,000) and Trade debts (+€50,369)
- Short-term financial debts +€475,000
new in 2025: €475,000
- Other debts -€55,000
down €55,000 (-4.0%), from €1.4m to €1.3m
- Trade debts +€50,369
up €50,369 (+2000.2%), from €2,518 to €52,888
- Profit (loss) carried forward -€8,805
down €8,805 (-0.7%), from -€1.3m to -€1.3m
- Gross operating margin -€9,049
down €9,049, from €8,511 to -€539
- Financial charges +€2,109
up €2,109 (+244.5%), from €863 to €2,972
- Other operating charges +€352
up €352 (+171.7%), from €205 to €558
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 | €118,855 | €580,479 | +€461,624 | +388.4% |
| Fixed assets | 21/28 | €6,400 | €1,663 | -€4,738 | -74.0% |
| Tangible fixed assets | 22/27 | €6,230 | €1,493 | -€4,738 | -76.0% |
| Furniture and vehicles | 24 | €6,230 | €1,493 | -€4,738 | -76.0% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €112,455 | €578,816 | +€466,361 | +414.7% |
| Stocks and contracts in progress | 3 | €102,164 | €565,886 | +€463,722 | +453.9% |
| Stocks | 30/36 | €102,164 | €565,886 | +€463,722 | +453.9% |
| Amounts receivable within one year | 40/41 | €6,796 | €1,067 | -€5,729 | -84.3% |
| Other amounts receivable | 41 | €6,796 | €1,067 | -€5,729 | -84.3% |
| Cash at bank and in hand | 54/58 | €3,495 | €10,652 | +€7,157 | +204.8% |
| Deferred charges and accrued income | 490/1 | - | €1,211 | +€1,211 | |
| Total equity and liabilities | 10/49 | €118,855 | €580,479 | +€461,624 | +388.4% |
| Equity | 10/15 | -€1,263,334 | -€1,272,139 | -€8,805 | -0.7% |
| 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 | €2,107 | €2,107 | = | 0.0% |
| Non-distributable reserves | 130/1 | €124 | €124 | = | 0.0% |
| Legal reserve | 130 | €124 | €124 | = | 0.0% |
| Distributable reserves | 133 | €1,983 | €1,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,327,441 | -€1,336,246 | -€8,805 | -0.7% |
| Amounts payable | 17/49 | €1,382,189 | €1,852,618 | +€470,429 | +34.0% |
| Amounts payable within one year | 42/48 | €1,382,189 | €1,852,558 | +€470,369 | +34.0% |
| Financial debts | 43 | - | €475,000 | +€475,000 | |
| Credit institutions | 430/8 | - | €475,000 | +€475,000 | |
| Trade debts | 44 | €2,518 | €52,888 | +€50,369 | +2000.2% |
| Suppliers | 440/4 | €2,518 | €52,888 | +€50,369 | +2000.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,379,671 | €1,324,671 | -€55,000 | -4.0% |
| Accrued charges and deferred income | 492/3 | - | €60 | +€60 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,738 | €4,738 | = | 0.0% |
| Other operating charges | 640/8 | €205 | €558 | +€352 | +171.7% |
| Gross operating margin | 9900 | €8,511 | -€539 | -€9,049 | |
| Operating profit (loss) | 9901 | €3,568 | -€5,834 | -€9,402 | |
| Financial charges | 65/66B | €863 | €2,972 | +€2,109 | +244.5% |
| Recurring financial charges | 65 | €863 | €2,972 | +€2,109 | +244.5% |
| Profit (loss) for the period before taxes | 9903 | €2,705 | -€8,805 | -€11,511 | |
| Profit (loss) for the period | 9904 | €2,705 | -€8,805 | -€11,511 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,705 | -€8,805 | -€11,511 |
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 9 October 2026 via checked.be.