SANTES: 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.
SANTES
Largest movements
- Cash +€42,832
up €42,832 (+150%), from €28,593 to €71,425
mainly Net result for the year (+€59,398) and Depreciation (+€11,027)
- Receivables within one year +€16,791
up €16,791 (+124%), from €13,539 to €30,330
of which Trade receivables: +€13,315
- Reserves +€59,398
up €59,398 (+216%), from €27,544 to €86,941
- Debts after one year -€8,245
down €8,245 (-26.6%), from €30,964 to €22,719
- Tax, wage and social debts +€5,820
up €5,820 (+42.3%), from €13,760 to €19,580
of which Taxes: +€3,820
- Gross operating margin +€47,165
up €47,165 (+116%), from €40,543 to €87,708
- Taxes +€8,264
up €8,264 (+113%), from €7,285 to €15,549
- Depreciation +€6,330
up €6,330 (+135%), from €4,697 to €11,027
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 | €85,223 | €144,485 | +€59,262 | +69.5% |
| Fixed assets | 21/28 | €41,879 | €41,459 | -€420 | -1.0% |
| Tangible fixed assets | 22/27 | €41,879 | €41,459 | -€420 | -1.0% |
| Furniture and vehicles | 24 | €41,879 | €41,459 | -€420 | -1.0% |
| Current assets | 29/58 | €43,344 | €103,026 | +€59,682 | +138% |
| Amounts receivable within one year | 40/41 | €13,539 | €30,330 | +€16,791 | +124% |
| Trade receivables | 40 | €13,438 | €26,753 | +€13,315 | +99.1% |
| Other amounts receivable | 41 | €101 | €3,577 | +€3,476 | +3,449% |
| Cash at bank and in hand | 54/58 | €28,593 | €71,425 | +€42,832 | +150% |
| Deferred charges and accrued income | 490/1 | €1,211 | €1,271 | +€59 | +4.9% |
| Total equity and liabilities | 10/49 | €85,223 | €144,485 | +€59,262 | +69.5% |
| Equity | 10/15 | €32,544 | €91,941 | +€59,398 | +183% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,544 | €86,941 | +€59,398 | +216% |
| Distributable reserves | 133 | €27,544 | €86,941 | +€59,398 | +216% |
| Amounts payable | 17/49 | €52,679 | €52,543 | -€136 | -0.3% |
| Amounts payable after more than one year | 17 | €30,964 | €22,719 | -€8,245 | -26.6% |
| Financial debts | 170/4 | €30,964 | €22,719 | -€8,245 | -26.6% |
| Amounts payable within one year | 42/48 | €21,715 | €28,719 | +€7,004 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €7,955 | €8,245 | +€290 | +3.6% |
| Trade debts | 44 | - | €894 | +€894 | |
| Suppliers | 440/4 | - | €894 | +€894 | |
| Taxes, remuneration and social security | 45 | €13,760 | €19,580 | +€5,820 | +42.3% |
| Taxes | 450/3 | €13,760 | €17,580 | +€3,820 | +27.8% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,105 | +€1,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,697 | €11,027 | +€6,330 | +135% |
| Other operating charges | 640/8 | €153 | €376 | +€223 | +145% |
| Gross operating margin | 9900 | €40,543 | €87,708 | +€47,165 | +116% |
| Operating profit (loss) | 9901 | €35,693 | €76,305 | +€40,612 | +114% |
| Financial income | 75/76B | €7 | €32 | +€25 | +334% |
| Recurring financial income | 75 | €7 | €32 | +€25 | +334% |
| Financial charges | 65/66B | €871 | €1,390 | +€519 | +59.6% |
| Recurring financial charges | 65 | €871 | €1,390 | +€519 | +59.6% |
| Profit (loss) for the period before taxes | 9903 | €34,829 | €74,947 | +€40,118 | +115% |
| Income taxes | 67/77 | €7,285 | €15,549 | +€8,264 | +113% |
| Profit (loss) for the period | 9904 | €27,544 | €59,398 | +€31,854 | +116% |
| Profit (loss) for the period to be appropriated | 9905 | €27,544 | €59,398 | +€31,854 | +116% |
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 25 October 2026 via checked.be.