SANTON: 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.
SANTON
Largest movements
- Receivables within one year +€64,286
up €64,286 (+254.9%), from €25,224 to €89,510
of which Trade receivables: +€63,186
- Tangible fixed assets -€32,659
down €32,659 (-11.9%), from €274,481 to €241,822
of which Other tangible fixed assets: -€21,197
- Deferred charges and accrued income -€5,714
down €5,714 (-72.3%), from €7,907 to €2,193
- Other debts +€79,874
up €79,874 (+330.1%), from €24,198 to €104,072
- Reserves -€31,915
down €31,915 (-21.1%), from €151,424 to €119,509
of which Distributable reserves: -€31,915
- Debts after one year -€22,075
down €22,075 (-13.8%), from €159,625 to €137,551
- Tax, wage and social debts +€5,112
up €5,112 (+102.5%), from €4,986 to €10,098
- Current portion of long-term debt -€5,019
down €5,019 (-18.5%), from €27,094 to €22,075
- Gross operating margin +€23,107
up €23,107 (+20.7%), from €111,478 to €134,585
- Taxes +€9,598
up €9,598 (+72.0%), from €13,327 to €22,925
- Financial charges -€2,760
down €2,760 (-28.1%), from €9,804 to €7,044
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 | €426,549 | €451,808 | +€25,259 | +5.9% |
| Fixed assets | 21/28 | €274,481 | €241,822 | -€32,659 | -11.9% |
| Tangible fixed assets | 22/27 | €274,481 | €241,822 | -€32,659 | -11.9% |
| Plant, machinery and equipment | 23 | €6,582 | €5,379 | -€1,203 | -18.3% |
| Furniture and vehicles | 24 | €16,470 | €6,211 | -€10,259 | -62.3% |
| Other tangible fixed assets | 26 | €251,429 | €230,232 | -€21,197 | -8.4% |
| Current assets | 29/58 | €152,068 | €209,986 | +€57,918 | +38.1% |
| Amounts receivable within one year | 40/41 | €25,224 | €89,510 | +€64,286 | +254.9% |
| Trade receivables | 40 | €20,224 | €83,410 | +€63,186 | +312.4% |
| Other amounts receivable | 41 | €5,000 | €6,100 | +€1,100 | +22.0% |
| Cash at bank and in hand | 54/58 | €118,936 | €118,283 | -€653 | -0.5% |
| Deferred charges and accrued income | 490/1 | €7,907 | €2,193 | -€5,714 | -72.3% |
| Total equity and liabilities | 10/49 | €426,549 | €451,808 | +€25,259 | +5.9% |
| Equity | 10/15 | €170,024 | €138,109 | -€31,915 | -18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,424 | €119,509 | -€31,915 | -21.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €149,564 | €117,649 | -€31,915 | -21.3% |
| Amounts payable | 17/49 | €256,525 | €313,699 | +€57,174 | +22.3% |
| Amounts payable after more than one year | 17 | €159,625 | €137,551 | -€22,075 | -13.8% |
| Financial debts | 170/4 | €159,625 | €137,551 | -€22,075 | -13.8% |
| Amounts payable within one year | 42/48 | €82,792 | €161,143 | +€78,352 | +94.6% |
| Current portion of amounts payable after more than one year | 42 | €27,094 | €22,075 | -€5,019 | -18.5% |
| Financial debts | 43 | €106 | €126 | +€20 | +18.9% |
| Credit institutions | 430/8 | €106 | €126 | +€20 | +18.9% |
| Trade debts | 44 | €26,408 | €24,773 | -€1,634 | -6.2% |
| Suppliers | 440/4 | €26,408 | €24,773 | -€1,634 | -6.2% |
| Taxes, remuneration and social security | 45 | €4,986 | €10,098 | +€5,112 | +102.5% |
| Taxes | 450/3 | €4,986 | €10,098 | +€5,112 | +102.5% |
| Other amounts payable | 47/48 | €24,198 | €104,072 | +€79,874 | +330.1% |
| Accrued charges and deferred income | 492/3 | €14,108 | €15,005 | +€897 | +6.4% |
| Non-recurring operating income | 76A | €8,263 | €1,513 | -€6,750 | -81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,931 | €25,547 | +€616 | +2.5% |
| Other operating charges | 640/8 | €653 | €1,471 | +€818 | +125.3% |
| Gross operating margin | 9900 | €111,478 | €134,585 | +€23,107 | +20.7% |
| Operating profit (loss) | 9901 | €85,895 | €107,568 | +€21,673 | +25.2% |
| Financial income | 75/76B | €104 | €485 | +€382 | +368.7% |
| Recurring financial income | 75 | €104 | €485 | +€382 | +368.7% |
| Financial charges | 65/66B | €9,804 | €7,044 | -€2,760 | -28.1% |
| Recurring financial charges | 65 | €9,804 | €7,044 | -€2,760 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €76,194 | €101,009 | +€24,815 | +32.6% |
| Income taxes | 67/77 | €13,327 | €22,925 | +€9,598 | +72.0% |
| Profit (loss) for the period | 9904 | €62,868 | €78,085 | +€15,217 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,868 | €78,085 | +€15,217 | +24.2% |
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 12 October 2026 via checked.be.