VAN SANTVLIET: 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.
VAN SANTVLIET
Largest movements
- Cash -€9,304
down €9,304 (-93.1%), from €9,989 to €686
mainly Net result for the year (-€137,283) and Tax, wage and social debts (-€985)
- Receivables within one year -€5,068
down €5,068 (-15.8%), from €32,066 to €26,998
of which Trade receivables: -€17,150
- Tangible fixed assets -€3,106
down €3,106 (-33.0%), from €9,414 to €6,308
of which Furniture and vehicles: -€1,763
- Profit (loss) carried forward -€137,283
down €137,283 (-71.4%), from -€192,312 to -€329,595
- Other debts +€120,791
up €120,791 (+178%), from €68,047 to €188,838
- Tax, wage and social debts -€985
down €985 (-77.3%), from €1,275 to €290
- Gross operating margin -€102,449
down €102,449 (-336%), from -€30,507 to -€132,956
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 | €51,469 | €33,992 | -€17,477 | -34.0% |
| Fixed assets | 21/28 | €9,414 | €6,308 | -€3,106 | -33.0% |
| Tangible fixed assets | 22/27 | €9,414 | €6,308 | -€3,106 | -33.0% |
| Furniture and vehicles | 24 | €8,071 | €6,308 | -€1,763 | -21.8% |
| Other tangible fixed assets | 26 | €1,343 | - | -€1,343 | |
| Current assets | 29/58 | €42,056 | €27,684 | -€14,372 | -34.2% |
| Amounts receivable within one year | 40/41 | €32,066 | €26,998 | -€5,068 | -15.8% |
| Trade receivables | 40 | €17,150 | - | -€17,150 | |
| Other amounts receivable | 41 | €14,917 | €26,998 | +€12,082 | +81.0% |
| Cash at bank and in hand | 54/58 | €9,989 | €686 | -€9,304 | -93.1% |
| Total equity and liabilities | 10/49 | €51,469 | €33,992 | -€17,477 | -34.0% |
| Equity | 10/15 | -€21,852 | -€159,135 | -€137,283 | -628% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,312 | -€329,595 | -€137,283 | -71.4% |
| Amounts payable | 17/49 | €73,322 | €193,128 | +€119,806 | +163% |
| Amounts payable within one year | 42/48 | €73,322 | €193,128 | +€119,806 | +163% |
| Trade debts | 44 | €4,000 | €4,000 | = | 0.0% |
| Suppliers | 440/4 | €4,000 | €4,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,275 | €290 | -€985 | -77.3% |
| Taxes | 450/3 | €1,275 | €290 | -€985 | -77.3% |
| Other amounts payable | 47/48 | €68,047 | €188,838 | +€120,791 | +178% |
| Non-recurring operating income | 76A | €2,715 | - | -€2,715 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,086 | €3,106 | +€1,019 | +48.8% |
| Other operating charges | 640/8 | €620 | €1,011 | +€391 | +63.0% |
| Gross operating margin | 9900 | -€30,507 | -€132,956 | -€102,449 | -336% |
| Operating profit (loss) | 9901 | -€33,213 | -€137,073 | -€103,859 | -313% |
| Financial charges | 65/66B | €930 | €71 | -€859 | -92.3% |
| Recurring financial charges | 65 | €930 | €71 | -€859 | -92.3% |
| Profit (loss) for the period before taxes | 9903 | -€34,143 | -€137,144 | -€103,000 | -302% |
| Income taxes | 67/77 | €447 | €140 | -€308 | -68.8% |
| Profit (loss) for the period | 9904 | -€34,590 | -€137,283 | -€102,693 | -297% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,590 | -€137,283 | -€102,693 | -297% |
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 26 October 2026 via checked.be.