SANTAMARIA: what changed
Two fiscal 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.
SANTAMARIA
Largest movements
- Tangible fixed assets +€108,381
up €108,381 (+215.8%), from €50,228 to €158,609
of which Plant, machinery and equipment: +€88,027
- Receivables within one year -€39,333
down €39,333 (-74.1%), from €53,094 to €13,761
of which Other amounts receivable: -€39,120
- Cash -€22,186
down €22,186 (-86.0%), from €25,788 to €3,601
mainly Investment in fixed assets (net) (-€115,366) and Trade debts (-€7,103)
- Profit (loss) carried forward +€54,779
up €54,779 (+57.1%), from -€95,912 to -€41,133
- Trade debts -€7,103
down €7,103 (-94.7%), from €7,502 to €400
- Depreciation +€5,094
up €5,094 (+269.3%), from €1,891 to €6,985
- Gross operating margin +€4,750
up €4,750 (+8.3%), from €57,081 to €61,831
- Financial charges -€2,784
down €2,784 (-98.4%), from €2,830 to €46
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 | €129,970 | €176,832 | +€46,861 | +36.1% |
| Fixed assets | 21/28 | €51,088 | €159,469 | +€108,381 | +212.1% |
| Tangible fixed assets | 22/27 | €50,228 | €158,609 | +€108,381 | +215.8% |
| Land and buildings | 22 | €31,288 | €31,288 | = | 0.0% |
| Plant, machinery and equipment | 23 | €18,941 | €106,968 | +€88,027 | +464.7% |
| Furniture and vehicles | 24 | - | €20,354 | +€20,354 | |
| Financial fixed assets | 28 | €860 | €860 | = | 0.0% |
| Current assets | 29/58 | €78,882 | €17,362 | -€61,520 | -78.0% |
| Amounts receivable within one year | 40/41 | €53,094 | €13,761 | -€39,333 | -74.1% |
| Trade receivables | 40 | €214 | - | -€214 | |
| Other amounts receivable | 41 | €52,880 | €13,761 | -€39,120 | -74.0% |
| Cash at bank and in hand | 54/58 | €25,788 | €3,601 | -€22,186 | -86.0% |
| Total equity and liabilities | 10/49 | €129,970 | €176,832 | +€46,861 | +36.1% |
| Equity | 10/15 | €25,217 | €79,996 | +€54,779 | +217.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €102,537 | €102,537 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,537 | €2,537 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,537 | €2,537 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,912 | -€41,133 | +€54,779 | +57.1% |
| Amounts payable | 17/49 | €104,754 | €96,836 | -€7,918 | -7.6% |
| Amounts payable within one year | 42/48 | €104,754 | €96,836 | -€7,918 | -7.6% |
| Trade debts | 44 | €7,502 | €400 | -€7,103 | -94.7% |
| Suppliers | 440/4 | €7,502 | €400 | -€7,103 | -94.7% |
| Other amounts payable | 47/48 | €97,251 | €96,436 | -€815 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,891 | €6,985 | +€5,094 | +269.3% |
| Other operating charges | 640/8 | €41 | €20 | -€21 | -51.8% |
| Gross operating margin | 9900 | €57,081 | €61,831 | +€4,750 | +8.3% |
| Operating profit (loss) | 9901 | €55,148 | €54,826 | -€322 | -0.6% |
| Financial charges | 65/66B | €2,830 | €46 | -€2,784 | -98.4% |
| Recurring financial charges | 65 | €2,830 | €46 | -€2,784 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €52,317 | €54,779 | +€2,462 | +4.7% |
| Income taxes | 67/77 | €4 | - | -€4 | |
| Profit (loss) for the period | 9904 | €52,313 | €54,779 | +€2,466 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,313 | €54,779 | +€2,466 | +4.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.