VAN SANTVOORT: 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 SANTVOORT
Largest movements
- Current investments -€879,000
no longer reported in 2025 (was €879,000)
- Tangible fixed assets +€740,597
up €740,597 (+327%), from €226,368 to €966,965
of which Land and buildings: +€786,423
- Cash +€701,876
up €701,876 (+804%), from €87,350 to €789,226
mainly Current investments (+€879,000) and Debts after one year (+€712,633)
- Receivables within one year +€66,472
up €66,472 (+13.4%), from €496,901 to €563,373
of which Trade receivables: +€65,656
- Debts after one year +€712,633
new in 2025: €712,633
- Reserves -€351,679
down €351,679 (-23.3%), from €1.5m to €1.2m
of which Distributable reserves: -€351,679
- Other debts +€209,502
up €209,502 (+370%), from €56,603 to €266,105
- Trade debts +€52,096
up €52,096 (+94.0%), from €55,445 to €107,541
- Current portion of long-term debt +€30,704
new in 2025: €30,704
- Gross operating margin -€28,953
down €28,953 (-8.3%), from €350,339 to €321,386
- Depreciation +€7,227
up €7,227 (+14.0%), from €51,516 to €58,743
- Taxes -€7,052
down €7,052 (-8.3%), from €84,754 to €77,702
- Staff costs +€5,774
up €5,774 (+14.7%), from €39,333 to €45,107
- Financial income -€4,553
down €4,553 (-21.7%), from €20,982 to €16,429
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 | €1,705,422 | €2,329,546 | +€624,124 | +36.6% |
| Fixed assets | 21/28 | €226,368 | €966,965 | +€740,597 | +327% |
| Tangible fixed assets | 22/27 | €226,368 | €966,965 | +€740,597 | +327% |
| Land and buildings | 22 | - | €786,423 | +€786,423 | |
| Plant, machinery and equipment | 23 | €1,709 | €1,738 | +€30 | +1.7% |
| Furniture and vehicles | 24 | €213,953 | €169,654 | -€44,299 | -20.7% |
| Other tangible fixed assets | 26 | €10,707 | €9,149 | -€1,557 | -14.5% |
| Current assets | 29/58 | €1,479,054 | €1,362,581 | -€116,473 | -7.9% |
| Amounts receivable within one year | 40/41 | €496,901 | €563,373 | +€66,472 | +13.4% |
| Trade receivables | 40 | €491,653 | €557,309 | +€65,656 | +13.4% |
| Other amounts receivable | 41 | €5,248 | €6,065 | +€816 | +15.6% |
| Current investments | 50/53 | €879,000 | - | -€879,000 | |
| Cash at bank and in hand | 54/58 | €87,350 | €789,226 | +€701,876 | +804% |
| Deferred charges and accrued income | 490/1 | €15,803 | €9,982 | -€5,821 | -36.8% |
| Total equity and liabilities | 10/49 | €1,705,422 | €2,329,546 | +€624,124 | +36.6% |
| Equity | 10/15 | €1,525,759 | €1,174,080 | -€351,679 | -23.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €1,510,759 | €1,159,080 | -€351,679 | -23.3% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €1,508,259 | €1,156,580 | -€351,679 | -23.3% |
| Amounts payable | 17/49 | €179,663 | €1,155,466 | +€975,803 | +543% |
| Amounts payable after more than one year | 17 | - | €712,633 | +€712,633 | |
| Financial debts | 170/4 | - | €712,633 | +€712,633 | |
| Amounts payable within one year | 42/48 | €179,663 | €442,833 | +€263,170 | +146% |
| Current portion of amounts payable after more than one year | 42 | - | €30,704 | +€30,704 | |
| Financial debts | 43 | €6 | - | -€6 | |
| Credit institutions | 430/8 | €6 | - | -€6 | |
| Trade debts | 44 | €55,445 | €107,541 | +€52,096 | +94.0% |
| Suppliers | 440/4 | €55,445 | €107,541 | +€52,096 | +94.0% |
| Advances received on contracts in progress | 46 | €4,164 | €4,483 | +€319 | +7.7% |
| Taxes, remuneration and social security | 45 | €63,445 | €34,000 | -€29,445 | -46.4% |
| Taxes | 450/3 | €57,824 | €27,721 | -€30,103 | -52.1% |
| Remuneration and social security | 454/9 | €5,621 | €6,279 | +€658 | +11.7% |
| Other amounts payable | 47/48 | €56,603 | €266,105 | +€209,502 | +370% |
| Non-recurring operating income | 76A | €18,250 | - | -€18,250 | |
| Remuneration, social security and pensions | 62 | €39,333 | €45,107 | +€5,774 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,516 | €58,743 | +€7,227 | +14.0% |
| Other operating charges | 640/8 | €6,851 | €4,991 | -€1,860 | -27.1% |
| Non-recurring operating charges | 66A | €197 | - | -€197 | |
| Gross operating margin | 9900 | €350,339 | €321,386 | -€28,953 | -8.3% |
| Operating profit (loss) | 9901 | €252,442 | €212,544 | -€39,897 | -15.8% |
| Financial income | 75/76B | €20,982 | €16,429 | -€4,553 | -21.7% |
| Recurring financial income | 75 | €20,982 | €16,429 | -€4,553 | -21.7% |
| Financial charges | 65/66B | €795 | €1,509 | +€713 | +89.7% |
| Recurring financial charges | 65 | €795 | €1,509 | +€713 | +89.7% |
| Profit (loss) for the period before taxes | 9903 | €272,628 | €227,464 | -€45,164 | -16.6% |
| Income taxes | 67/77 | €84,754 | €77,702 | -€7,052 | -8.3% |
| Profit (loss) for the period | 9904 | €187,874 | €149,763 | -€38,111 | -20.3% |
| Transfer from tax-exempt reserves | 789 | €84,200 | - | -€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €272,074 | €149,763 | -€122,311 | -45.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.