SANTHO: 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.
SANTHO
Largest movements
- Current investments -€150,765
down €150,765 (-100%), from €150,765 to €0
- Cash +€70,070
up €70,070 (+77.4%), from €90,584 to €160,654
mainly Current investments (+€150,765) and Receivables within one year (+€52,364)
- Receivables within one year -€52,364
down €52,364 (-72.3%), from €72,393 to €20,030
of which Trade receivables: -€61,535
- Tangible fixed assets -€16,815
down €16,815 (-75.7%), from €22,206 to €5,390
of which Furniture and vehicles: -€16,445
- Other debts -€144,596
no longer reported in 2025 (was €144,596)
- Tax, wage and social debts -€21,027
down €21,027 (-69.2%), from €30,380 to €9,353
of which Taxes: -€17,627
- Reserves +€14,233
up €14,233 (+10.0%), from €141,982 to €156,215
of which Distributable reserves: +€14,233
- Gross operating margin -€274,037
down €274,037 (-87.6%), from €312,662 to €38,626
- Taxes -€74,904
down €74,904 (-89.6%), from €83,613 to €8,709
- Other operating charges +€10,058
up €10,058 (+7,159%), from €141 to €10,199
- Depreciation -€6,938
down €6,938 (-56.3%), from €12,328 to €5,390
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 | €337,535 | €186,646 | -€150,889 | -44.7% |
| Fixed assets | 21/28 | €22,206 | €5,390 | -€16,815 | -75.7% |
| Tangible fixed assets | 22/27 | €22,206 | €5,390 | -€16,815 | -75.7% |
| Plant, machinery and equipment | 23 | €370 | - | -€370 | |
| Furniture and vehicles | 24 | €21,835 | €5,390 | -€16,445 | -75.3% |
| Current assets | 29/58 | €315,329 | €181,256 | -€134,073 | -42.5% |
| Amounts receivable within one year | 40/41 | €72,393 | €20,030 | -€52,364 | -72.3% |
| Trade receivables | 40 | €72,122 | €10,588 | -€61,535 | -85.3% |
| Other amounts receivable | 41 | €271 | €9,442 | +€9,171 | +3,379% |
| Current investments | 50/53 | €150,765 | €0 | -€150,765 | -100% |
| Cash at bank and in hand | 54/58 | €90,584 | €160,654 | +€70,070 | +77.4% |
| Deferred charges and accrued income | 490/1 | €1,587 | €572 | -€1,015 | -64.0% |
| Total equity and liabilities | 10/49 | €337,535 | €186,646 | -€150,889 | -44.7% |
| Equity | 10/15 | €162,442 | €176,675 | +€14,233 | +8.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €141,982 | €156,215 | +€14,233 | +10.0% |
| Tax-exempt reserves | 132 | €6,088 | €6,088 | = | 0.0% |
| Distributable reserves | 133 | €135,894 | €150,126 | +€14,233 | +10.5% |
| Amounts payable | 17/49 | €175,093 | €9,972 | -€165,121 | -94.3% |
| Amounts payable within one year | 42/48 | €175,093 | €9,972 | -€165,121 | -94.3% |
| Trade debts | 44 | €117 | €619 | +€502 | +430% |
| Suppliers | 440/4 | €117 | €619 | +€502 | +430% |
| Taxes, remuneration and social security | 45 | €30,380 | €9,353 | -€21,027 | -69.2% |
| Taxes | 450/3 | €26,980 | €9,353 | -€17,627 | -65.3% |
| Remuneration and social security | 454/9 | €3,400 | - | -€3,400 | |
| Other amounts payable | 47/48 | €144,596 | - | -€144,596 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,328 | €5,390 | -€6,938 | -56.3% |
| Other operating charges | 640/8 | €141 | €10,199 | +€10,058 | +7,159% |
| Gross operating margin | 9900 | €312,662 | €38,626 | -€274,037 | -87.6% |
| Operating profit (loss) | 9901 | €300,194 | €23,036 | -€277,157 | -92.3% |
| Financial income | 75/76B | €31 | €89 | +€58 | +184% |
| Recurring financial income | 75 | €31 | €89 | +€58 | +184% |
| Financial charges | 65/66B | €406 | €184 | -€222 | -54.7% |
| Recurring financial charges | 65 | €406 | €184 | -€222 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | €299,819 | €22,942 | -€276,878 | -92.3% |
| Income taxes | 67/77 | €83,613 | €8,709 | -€74,904 | -89.6% |
| Profit (loss) for the period | 9904 | €216,207 | €14,233 | -€201,974 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €216,207 | €14,233 | -€201,974 | -93.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.