SANTHOMAR: 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.
SANTHOMAR
Largest movements
- Stocks and contracts -€316,633
down €316,633 (-99.2%), from €319,081 to €2,448
- Cash +€70,790
up €70,790 (+357%), from €19,808 to €90,598
mainly Stocks and contracts (+€316,633) and Net result for the year (+€53,514)
- Receivables within one year +€69,962
up €69,962 (+1,242%), from €5,632 to €75,594
of which Trade receivables: +€69,962
- Current investments +€18,000
up €18,000 (+109%), from €16,569 to €34,569
- Short-term financial debts -€106,724
down €106,724 (-100%), from €106,724 to €0
- Trade debts -€100,098
down €100,098 (-94.6%), from €105,827 to €5,728
- Reserves +€53,514
up €53,514 (+14.3%), from €375,507 to €429,021
of which Distributable reserves: +€53,514
- Debts after one year -€46,045
down €46,045 (-31.6%), from €145,924 to €99,879
- Tax, wage and social debts +€20,428
up €20,428 (+75.7%), from €27,001 to €47,430
of which Taxes: +€29,973
- Staff costs -€59,197
down €59,197 (-50.4%), from €117,377 to €58,180
- Gross operating margin -€15,574
down €15,574 (-6.8%), from €229,912 to €214,338
- Taxes +€14,225
up €14,225 (+99.0%), from €14,372 to €28,597
- Depreciation -€3,525
down €3,525 (-11.0%), from €32,148 to €28,623
- Financial charges +€2,664
up €2,664 (+8.9%), from €29,945 to €32,609
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 | €1,213,547 | €1,045,146 | -€168,401 | -13.9% |
| Fixed assets | 21/28 | €851,750 | €841,368 | -€10,382 | -1.2% |
| Tangible fixed assets | 22/27 | €201,750 | €191,368 | -€10,382 | -5.1% |
| Land and buildings | 22 | €182,099 | €177,971 | -€4,128 | -2.3% |
| Plant, machinery and equipment | 23 | €7,506 | €4,305 | -€3,201 | -42.6% |
| Furniture and vehicles | 24 | €12,144 | €9,091 | -€3,053 | -25.1% |
| Financial fixed assets | 28 | €650,000 | €650,000 | = | 0.0% |
| Current assets | 29/58 | €361,797 | €203,779 | -€158,019 | -43.7% |
| Stocks and contracts in progress | 3 | €319,081 | €2,448 | -€316,633 | -99.2% |
| Stocks | 30/36 | €319,081 | €2,448 | -€316,633 | -99.2% |
| Amounts receivable within one year | 40/41 | €5,632 | €75,594 | +€69,962 | +1,242% |
| Trade receivables | 40 | €5,632 | €75,594 | +€69,962 | +1,242% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €16,569 | €34,569 | +€18,000 | +109% |
| Cash at bank and in hand | 54/58 | €19,808 | €90,598 | +€70,790 | +357% |
| Deferred charges and accrued income | 490/1 | €707 | €570 | -€137 | -19.4% |
| Total equity and liabilities | 10/49 | €1,213,547 | €1,045,146 | -€168,401 | -13.9% |
| Equity | 10/15 | €499,454 | €552,967 | +€53,514 | +10.7% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €375,507 | €429,021 | +€53,514 | +14.3% |
| Tax-exempt reserves | 132 | €20,994 | €20,994 | = | 0.0% |
| Distributable reserves | 133 | €354,513 | €408,027 | +€53,514 | +15.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €714,093 | €492,179 | -€221,915 | -31.1% |
| Amounts payable after more than one year | 17 | €145,924 | €99,879 | -€46,045 | -31.6% |
| Financial debts | 170/4 | €145,924 | €99,879 | -€46,045 | -31.6% |
| Amounts payable within one year | 42/48 | €567,830 | €378,255 | -€189,575 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €51,232 | €48,050 | -€3,181 | -6.2% |
| Financial debts | 43 | €106,724 | €0 | -€106,724 | -100% |
| Credit institutions | 430/8 | €106,724 | €0 | -€106,724 | -100% |
| Trade debts | 44 | €105,827 | €5,728 | -€100,098 | -94.6% |
| Suppliers | 440/4 | €105,827 | €5,728 | -€100,098 | -94.6% |
| Taxes, remuneration and social security | 45 | €27,001 | €47,430 | +€20,428 | +75.7% |
| Taxes | 450/3 | €17,409 | €47,382 | +€29,973 | +172% |
| Remuneration and social security | 454/9 | €9,592 | €47 | -€9,545 | -99.5% |
| Other amounts payable | 47/48 | €277,046 | €277,046 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €339 | €14,045 | +€13,705 | +4,043% |
| Remuneration, social security and pensions | 62 | €117,377 | €58,180 | -€59,197 | -50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,148 | €28,623 | -€3,525 | -11.0% |
| Other operating charges | 640/8 | €14,181 | €12,834 | -€1,347 | -9.5% |
| Gross operating margin | 9900 | €229,912 | €214,338 | -€15,574 | -6.8% |
| Operating profit (loss) | 9901 | €66,206 | €114,701 | +€48,495 | +73.2% |
| Financial income | 75/76B | €104 | €18 | -€85 | -82.3% |
| Recurring financial income | 75 | €104 | €18 | -€85 | -82.3% |
| Financial charges | 65/66B | €29,945 | €32,609 | +€2,664 | +8.9% |
| Recurring financial charges | 65 | €29,945 | €32,609 | +€2,664 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €36,365 | €82,111 | +€45,746 | +126% |
| Income taxes | 67/77 | €14,372 | €28,597 | +€14,225 | +99.0% |
| Profit (loss) for the period | 9904 | €21,992 | €53,514 | +€31,521 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €21,992 | €53,514 | +€31,521 | +143% |
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 22 October 2026 via checked.be.