SANTOS CONCEPT: 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.
SANTOS CONCEPT
Largest movements
- Cash +€50,039
up €50,039 (+236.8%), from €21,128 to €71,167
mainly Deferred charges and accrued income (+€31,792) and Net result for the year (+€18,853)
- Deferred charges and accrued income -€31,792
down €31,792 (-92.0%), from €34,560 to €2,767
- Tangible fixed assets -€4,859
down €4,859 (-91.3%), from €5,322 to €464
of which Leasing and similar rights: -€4,018
- Profit (loss) carried forward +€18,853
up €18,853 (+18.7%), from €100,866 to €119,719
- Trade debts -€5,577
down €5,577 (-48.8%), from €11,438 to €5,860
- Gross operating margin +€17,228
up €17,228 (+77.0%), from €22,369 to €39,598
- Taxes +€6,558
up €6,558 (+236.0%), from €2,779 to €9,337
- Depreciation -€4,742
down €4,742 (-49.4%), from €9,600 to €4,859
- Other operating charges +€1,778
up €1,778 (+30.5%), from €5,826 to €7,605
- Financial charges +€401
up €401 (+168.6%), from €238 to €638
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 | €146,516 | €158,731 | +€12,215 | +8.3% |
| Fixed assets | 21/28 | €8,122 | €3,264 | -€4,859 | -59.8% |
| Tangible fixed assets | 22/27 | €5,322 | €464 | -€4,859 | -91.3% |
| Plant, machinery and equipment | 23 | €875 | €34 | -€841 | -96.1% |
| Leasing and similar rights | 25 | €4,447 | €429 | -€4,018 | -90.3% |
| Financial fixed assets | 28 | €2,800 | €2,800 | = | 0.0% |
| Current assets | 29/58 | €138,394 | €155,467 | +€17,074 | +12.3% |
| Amounts receivable within one year | 40/41 | €82,707 | €81,534 | -€1,173 | -1.4% |
| Trade receivables | 40 | €45,900 | €45,778 | -€122 | -0.3% |
| Other amounts receivable | 41 | €36,807 | €35,756 | -€1,051 | -2.9% |
| Cash at bank and in hand | 54/58 | €21,128 | €71,167 | +€50,039 | +236.8% |
| Deferred charges and accrued income | 490/1 | €34,560 | €2,767 | -€31,792 | -92.0% |
| Total equity and liabilities | 10/49 | €146,516 | €158,731 | +€12,215 | +8.3% |
| Equity | 10/15 | €114,003 | €132,856 | +€18,853 | +16.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €737 | €737 | = | 0.0% |
| Non-distributable reserves | 130/1 | €737 | €737 | = | 0.0% |
| Reserves not available under the articles | 1311 | €737 | €737 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,866 | €119,719 | +€18,853 | +18.7% |
| Amounts payable | 17/49 | €32,514 | €25,875 | -€6,638 | -20.4% |
| Amounts payable after more than one year | 17 | €254 | - | -€254 | |
| Financial debts | 170/4 | €254 | - | -€254 | |
| Amounts payable within one year | 42/48 | €32,259 | €25,875 | -€6,384 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €7,245 | €7,499 | +€254 | +3.5% |
| Trade debts | 44 | €11,438 | €5,860 | -€5,577 | -48.8% |
| Suppliers | 440/4 | €11,438 | €5,860 | -€5,577 | -48.8% |
| Taxes, remuneration and social security | 45 | €13,577 | €12,516 | -€1,061 | -7.8% |
| Taxes | 450/3 | €11,455 | €10,116 | -€1,339 | -11.7% |
| Remuneration and social security | 454/9 | €2,122 | €2,400 | +€278 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,600 | €4,859 | -€4,742 | -49.4% |
| Other operating charges | 640/8 | €5,826 | €7,605 | +€1,778 | +30.5% |
| Gross operating margin | 9900 | €22,369 | €39,598 | +€17,228 | +77.0% |
| Operating profit (loss) | 9901 | €6,942 | €27,134 | +€20,192 | +290.8% |
| Financial income | 75/76B | €1,853 | €1,694 | -€159 | -8.6% |
| Recurring financial income | 75 | €1,853 | €1,694 | -€159 | -8.6% |
| Financial charges | 65/66B | €238 | €638 | +€401 | +168.6% |
| Recurring financial charges | 65 | €238 | €638 | +€401 | +168.6% |
| Profit (loss) for the period before taxes | 9903 | €8,558 | €28,190 | +€19,632 | +229.4% |
| Income taxes | 67/77 | €2,779 | €9,337 | +€6,558 | +236.0% |
| Profit (loss) for the period | 9904 | €5,779 | €18,853 | +€13,074 | +226.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,779 | €18,853 | +€13,074 | +226.2% |
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 9 October 2026 via checked.be.