SANTI: 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.
SANTI
Largest movements
- Cash -€75,746
down €75,746 (-49.3%), from €153,654 to €77,908
mainly Receivables after one year (-€60,717) and Receivables within one year (-€59,555)
- Receivables after one year +€60,717
up €60,717 (+240%), from €25,351 to €86,068
- Receivables within one year +€59,555
up €59,555 (+527%), from €11,300 to €70,855
of which Trade receivables: +€58,696
- Deferred charges and accrued income +€50,775
up €50,775 (+2,387%), from €2,128 to €52,902
- Reserves +€93,702
up €93,702 (+69.5%), from €134,910 to €228,612
- Tax, wage and social debts +€4,870
up €4,870 (+9.1%), from €53,404 to €58,274
of which Taxes: +€6,948
- Gross operating margin +€52,245
up €52,245 (+73.3%), from €71,322 to €123,567
- Taxes +€9,446
up €9,446 (+46.8%), from €20,191 to €29,637
- Financial charges -€2,220
down €2,220 (-81.2%), from €2,735 to €515
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 | €193,841 | €290,486 | +€96,645 | +49.9% |
| Fixed assets | 21/28 | €1,408 | €2,752 | +€1,344 | +95.4% |
| Tangible fixed assets | 22/27 | €1,408 | €2,752 | +€1,344 | +95.4% |
| Plant, machinery and equipment | 23 | €677 | €397 | -€281 | -41.5% |
| Furniture and vehicles | 24 | €731 | €510 | -€221 | -30.3% |
| Other tangible fixed assets | 26 | - | €1,846 | +€1,846 | |
| Current assets | 29/58 | €192,433 | €287,734 | +€95,301 | +49.5% |
| Amounts receivable after more than one year | 29 | €25,351 | €86,068 | +€60,717 | +240% |
| Other amounts receivable | 291 | €25,351 | €86,068 | +€60,717 | +240% |
| Amounts receivable within one year | 40/41 | €11,300 | €70,855 | +€59,555 | +527% |
| Trade receivables | 40 | €11,300 | €69,996 | +€58,696 | +519% |
| Other amounts receivable | 41 | - | €859 | +€859 | |
| Cash at bank and in hand | 54/58 | €153,654 | €77,908 | -€75,746 | -49.3% |
| Deferred charges and accrued income | 490/1 | €2,128 | €52,902 | +€50,775 | +2,387% |
| Total equity and liabilities | 10/49 | €193,841 | €290,486 | +€96,645 | +49.9% |
| Equity | 10/15 | €137,410 | €231,112 | +€93,702 | +68.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €134,910 | €228,612 | +€93,702 | +69.5% |
| Distributable reserves | 133 | €134,910 | €228,612 | +€93,702 | +69.5% |
| Amounts payable | 17/49 | €56,431 | €59,374 | +€2,943 | +5.2% |
| Amounts payable within one year | 42/48 | €56,431 | €59,374 | +€2,943 | +5.2% |
| Trade debts | 44 | €1,883 | €1,100 | -€784 | -41.6% |
| Suppliers | 440/4 | €1,883 | €1,100 | -€784 | -41.6% |
| Taxes, remuneration and social security | 45 | €53,404 | €58,274 | +€4,870 | +9.1% |
| Taxes | 450/3 | €51,326 | €58,274 | +€6,948 | +13.5% |
| Remuneration and social security | 454/9 | €2,078 | €0 | -€2,078 | -100% |
| Other amounts payable | 47/48 | €1,144 | €0 | -€1,144 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €404 | €831 | +€427 | +106% |
| Other operating charges | 640/8 | €771 | €1,309 | +€538 | +69.9% |
| Gross operating margin | 9900 | €71,322 | €123,567 | +€52,245 | +73.3% |
| Operating profit (loss) | 9901 | €70,148 | €121,427 | +€51,279 | +73.1% |
| Financial income | 75/76B | €1,585 | €2,428 | +€843 | +53.2% |
| Recurring financial income | 75 | €1,585 | €2,428 | +€843 | +53.2% |
| Financial charges | 65/66B | €2,735 | €515 | -€2,220 | -81.2% |
| Recurring financial charges | 65 | €2,735 | €515 | -€2,220 | -81.2% |
| Profit (loss) for the period before taxes | 9903 | €68,998 | €123,340 | +€54,342 | +78.8% |
| Income taxes | 67/77 | €20,191 | €29,637 | +€9,446 | +46.8% |
| Profit (loss) for the period | 9904 | €48,807 | €93,702 | +€44,896 | +92.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,807 | €93,702 | +€44,896 | +92.0% |
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 14 October 2026 via checked.be.