SANTINI: what changed
Two fiscal 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.
SANTINI
Largest movements
- Receivables within one year +€10,722
up €10,722 (+593.8%), from €1,806 to €12,527
of which Other amounts receivable: +€11,177
- Cash -€2,802
down €2,802 (-35.6%), from €7,877 to €5,075
mainly Receivables within one year (-€10,722) and Stocks and contracts (-€718)
- Stocks and contracts +€718
up €718 (+12.2%), from €5,888 to €6,606
- Tangible fixed assets -€635
down €635 (-26.1%), from €2,436 to €1,801
of which Plant, machinery and equipment: -€582
- Deferred charges and accrued income -€622
down €622 (-84.4%), from €737 to €115
- Trade debts +€3,814
up €3,814 (+35.9%), from €10,632 to €14,445
- Other debts +€2,279
up €2,279 (+4.8%), from €47,041 to €49,320
- Tax, wage and social debts +€1,620
up €1,620 (+123.3%), from €1,314 to €2,935
of which Remuneration and social security: +€1,742
- Profit (loss) carried forward -€333
down €333 (-0.7%), from -€47,862 to -€48,194
- Gross operating margin +€5,158
up €5,158 (+31.6%), from €16,314 to €21,471
- Staff costs +€2,587
up €2,587 (+15.4%), from €16,743 to €19,330
- Other operating charges +€944
new in 2025: €944
- Financial charges +€616
up €616 (+390.5%), from €158 to €774
- Depreciation -€307
down €307 (-32.6%), from €942 to €635
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 | €19,093 | €26,474 | +€7,381 | +38.7% |
| Fixed assets | 21/28 | €2,786 | €2,151 | -€635 | -22.8% |
| Tangible fixed assets | 22/27 | €2,436 | €1,801 | -€635 | -26.1% |
| Plant, machinery and equipment | 23 | €2,328 | €1,746 | -€582 | -25.0% |
| Furniture and vehicles | 24 | €108 | €55 | -€53 | -49.1% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €16,307 | €24,323 | +€8,016 | +49.2% |
| Stocks and contracts in progress | 3 | €5,888 | €6,606 | +€718 | +12.2% |
| Stocks | 30/36 | €5,888 | €6,606 | +€718 | +12.2% |
| Amounts receivable within one year | 40/41 | €1,806 | €12,527 | +€10,722 | +593.8% |
| Trade receivables | 40 | €1,013 | €558 | -€455 | -44.9% |
| Other amounts receivable | 41 | €792 | €11,969 | +€11,177 | +1410.7% |
| Cash at bank and in hand | 54/58 | €7,877 | €5,075 | -€2,802 | -35.6% |
| Deferred charges and accrued income | 490/1 | €737 | €115 | -€622 | -84.4% |
| Total equity and liabilities | 10/49 | €19,093 | €26,474 | +€7,381 | +38.7% |
| Equity | 10/15 | -€39,893 | -€40,226 | -€333 | -0.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,771 | €1,771 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,771 | €1,771 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,771 | €1,771 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,862 | -€48,194 | -€333 | -0.7% |
| Amounts payable | 17/49 | €58,987 | €66,700 | +€7,713 | +13.1% |
| Amounts payable within one year | 42/48 | €58,987 | €66,700 | +€7,713 | +13.1% |
| Trade debts | 44 | €10,632 | €14,445 | +€3,814 | +35.9% |
| Suppliers | 440/4 | €10,632 | €14,445 | +€3,814 | +35.9% |
| Taxes, remuneration and social security | 45 | €1,314 | €2,935 | +€1,620 | +123.3% |
| Taxes | 450/3 | €140 | €18 | -€122 | -87.2% |
| Remuneration and social security | 454/9 | €1,175 | €2,917 | +€1,742 | +148.3% |
| Other amounts payable | 47/48 | €47,041 | €49,320 | +€2,279 | +4.8% |
| Remuneration, social security and pensions | 62 | €16,743 | €19,330 | +€2,587 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €942 | €635 | -€307 | -32.6% |
| Other operating charges | 640/8 | - | €944 | +€944 | |
| Gross operating margin | 9900 | €16,314 | €21,471 | +€5,158 | +31.6% |
| Operating profit (loss) | 9901 | -€1,372 | €562 | +€1,934 | |
| Financial charges | 65/66B | €158 | €774 | +€616 | +390.5% |
| Recurring financial charges | 65 | €158 | €774 | +€616 | +390.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,529 | -€212 | +€1,318 | +86.2% |
| Income taxes | 67/77 | €137 | €121 | -€16 | -11.5% |
| Profit (loss) for the period | 9904 | -€1,666 | -€333 | +€1,334 | +80.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,666 | -€333 | +€1,334 | +80.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.