Santech: 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.
Santech
Largest movements
- Cash +€18,066
up €18,066 (+75.1%), from €24,047 to €42,114
mainly Net result for the year (+€32,929) and Depreciation (+€4,901)
- Tangible fixed assets +€16,695
up €16,695 (+143.5%), from €11,638 to €28,333
of which Furniture and vehicles: +€16,036
- Receivables after one year -€3,000
down €3,000 (-75.0%), from €4,000 to €1,000
- Receivables within one year +€1,882
up €1,882 (+44.0%), from €4,280 to €6,162
of which Trade receivables: +€1,825
- Profit (loss) carried forward +€32,929
up €32,929 (+109.9%), from €29,972 to €62,900
- Tax, wage and social debts +€1,948
up €1,948 (+25.4%), from €7,670 to €9,619
of which Taxes: +€1,648
- Other debts -€969
down €969 (-42.1%), from €2,300 to €1,331
- Gross operating margin +€7,832
up €7,832 (+17.6%), from €44,547 to €52,379
- Depreciation +€1,751
up €1,751 (+55.6%), from €3,150 to €4,901
- Financial charges +€1,721
up €1,721 (+59.3%), from €2,901 to €4,622
- Taxes +€1,078
up €1,078 (+14.1%), from €7,670 to €8,748
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 | €47,090 | €80,620 | +€33,530 | +71.2% |
| Fixed assets | 21/28 | €11,638 | €28,333 | +€16,695 | +143.5% |
| Tangible fixed assets | 22/27 | €11,638 | €28,333 | +€16,695 | +143.5% |
| Plant, machinery and equipment | 23 | €5,132 | €5,792 | +€659 | +12.8% |
| Furniture and vehicles | 24 | €6,505 | €22,541 | +€16,036 | +246.5% |
| Current assets | 29/58 | €35,452 | €52,287 | +€16,835 | +47.5% |
| Amounts receivable after more than one year | 29 | €4,000 | €1,000 | -€3,000 | -75.0% |
| Trade receivables | 290 | €4,000 | €1,000 | -€3,000 | -75.0% |
| Stocks and contracts in progress | 3 | €2,995 | €2,205 | -€790 | -26.4% |
| Stocks | 30/36 | €2,995 | €2,205 | -€790 | -26.4% |
| Amounts receivable within one year | 40/41 | €4,280 | €6,162 | +€1,882 | +44.0% |
| Trade receivables | 40 | €2,881 | €4,706 | +€1,825 | +63.4% |
| Other amounts receivable | 41 | €1,399 | €1,456 | +€57 | +4.1% |
| Cash at bank and in hand | 54/58 | €24,047 | €42,114 | +€18,066 | +75.1% |
| Deferred charges and accrued income | 490/1 | €130 | €807 | +€677 | +520.6% |
| Total equity and liabilities | 10/49 | €47,090 | €80,620 | +€33,530 | +71.2% |
| Equity | 10/15 | €32,972 | €65,900 | +€32,929 | +99.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,972 | €62,900 | +€32,929 | +109.9% |
| Amounts payable | 17/49 | €14,119 | €14,720 | +€601 | +4.3% |
| Amounts payable within one year | 42/48 | €14,119 | €14,720 | +€601 | +4.3% |
| Trade debts | 44 | €4,148 | €3,770 | -€378 | -9.1% |
| Suppliers | 440/4 | €4,148 | €3,770 | -€378 | -9.1% |
| Taxes, remuneration and social security | 45 | €7,670 | €9,619 | +€1,948 | +25.4% |
| Taxes | 450/3 | €7,670 | €9,319 | +€1,648 | +21.5% |
| Remuneration and social security | 454/9 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | €2,300 | €1,331 | -€969 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,150 | €4,901 | +€1,751 | +55.6% |
| Other operating charges | 640/8 | €854 | €1,180 | +€326 | +38.2% |
| Gross operating margin | 9900 | €44,547 | €52,379 | +€7,832 | +17.6% |
| Operating profit (loss) | 9901 | €40,543 | €46,298 | +€5,755 | +14.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,901 | €4,622 | +€1,721 | +59.3% |
| Recurring financial charges | 65 | €2,901 | €4,622 | +€1,721 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €37,642 | €41,677 | +€4,035 | +10.7% |
| Income taxes | 67/77 | €7,670 | €8,748 | +€1,078 | +14.1% |
| Profit (loss) for the period | 9904 | €29,972 | €32,929 | +€2,957 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,972 | €32,929 | +€2,957 | +9.9% |
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.