Satellic
ActiveSummary
Satellic has been active since 2014 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39.1m and a net result of €27.2m. Equity has been growing by about 16% per year since 2018. Its solvency ranks better than 32% of 1,166 sector peers (NACE 82, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 23-07-2014 Normal situation
- Registered office
- 55 active companies are registered at this address 2 started in the 12 months before. Source: KBO register, as of 4 November 2026.
- Activity
- Other business support services NACE 82990and 2 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2024
- Establishment unit
- 2.233.325.426 1831 Machelen (Brab.), since 23-07-2014
- Financial year end
- 31 December
- Peppol
- Reachable since 06-10-2025
Board and ownership
Board
- Stefan PropstDirector · since 15-05-2023
- Igor SoczynskiDirector · since 21-05-2024
- Thomas PferrDirector · since 21-05-2024
- Auditor
- DELOITTE Bedrijfsrevisoren BV
Shareholders
- DEUTSCHE TELEKOM AGconsolidatedLEI register
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Turnover
- €113.1m
- ▼ 6.7%
- Profit
- €27.2m
- ▼ 22.8%
- Equity
- €39.1m
- ▼ 0.8%
- Total assets
- €144.1m
- ▼ 3.6%
- Employees on 31-12-2025
- 69
- ▼ 1.4%
Score breakdownlowers riskSize: turnover €113.1m, 69.6 FTE, total assets €144.1mFigures for financial year 2025 (filed on 12-06-2026)Liquidity: current ratio 0.90, cash €20.9mSector: Office administrative, office support and other business support activities (NACE 82)Show the evidence
Checked score
Score 2025
93
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 43% of medium-sized companies in office administrative support (NACE 82)
Financial strength · tick: 2024
Average
Solvency
52+1
equity 27.1% of total assets
Liquidity
31+3
short-term debt 69.3% · cash 14.5%
Profitability
95-4
return on assets 18.9%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%highest value
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026lowest value
08-2026: 0.1%● unchanged vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Credit of up to €3,600,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.9 (0.76 in 2024), below 1. Short-term debt is 69.3% and cash 14.5% of total assets. 72.9% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 82, medium-sized). It does better than 35% of them on solvency, 20% on liquidity, 93% on profitability and 25% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 days early
2024
69 days early
2023
65 days early
2022
62 days early
2021
54 days early
2020
66 days early
2019
65 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 62 days before the deadline. In the sector (NACE 82), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 May (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 08-06-2026 PDF all 12 filings
Turnover
€113.1m▼ 6.7%
2024 · €121.3m
EBIT margin
32.0%▼ 6.5pp
2024 · 38.6%
Net result
€27.2m▼ 22.8%
2024 · €35.2m
Working capital
-€10.1m▲ 59.3%
2024 · -€24.7m
In the rankings
#4 company by total assets in Machelen, Administrative and support services sector#8 employer in Flemish Brabant, Office administrative support sector#8 company by equity in Machelen, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€113.1m
▼ 6.7%
2025
20182025
Operating result
€36.2m
▼ 22.6%
2025
20182025
Net result
€27.2m
▼ 22.8%
2025
highest quarter of the sector
20182025
EBIT margin
32.0%
▼ 6.5pp
2025
20182025
Equity
€39.1m
▼ 0.8%
2025
highest quarter of the sector
20182025
Total assets
€144.1m
▼ 3.6%
2025
highest quarter of the sector
20182025
Debt
€105.0m
▼ 4.6%
2025
20182025
Working capital
-€10.1m
▲ 59.3%
2025
lowest quarter of the sector
20182025
Solvency
27.1%
▲ 0.8pp
2025
middle half of the sector
20182025
Current ratio
0.90
▲ 0.14
2025
middle half of the sector
20182025
Return on assets (ROA)
18.9%
▼ 4.7pp
2025
highest quarter of the sector
20182025
Staff (FTE)
69.6
▼ 0.9%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€128.5m-€128.4m▼ 0.1%€126.9m▼ 1.2%€122.0m▼ 3.8%€133.5m▲ 9.4%€130.9m▼ 2.0%€121.3m▼ 7.3%€113.1m▼ 6.7%
Operating result€27.6m-€30.1m▲ 9.3%€29.5m▼ 2.1%€38.4m▲ 30.3%€46.5m▲ 21.0%€52.1m▲ 12.1%€46.8m▼ 10.3%€36.2m▼ 22.6%
Net result€16.3m-€18.4m▲ 12.9%€19.4mabove the sector's middle half▲ 5.6%€26.4mabove the sector's middle half▲ 36.1%€32.7mabove the sector's middle half▲ 24.0%€37.5mabove the sector's middle half▲ 14.6%€35.2mabove the sector's middle half▼ 6.1%€27.2mabove the sector's middle half▼ 22.8%
EBIT margin21.5%-23.5%▲ 2.0pp23.2%▼ 0.2pp31.5%▲ 8.2pp34.8%▲ 3.4pp39.8%▲ 5.0pp38.6%▼ 1.3pp32.0%▼ 6.5pp
Equity€16.3m-€16.7m▲ 2.2%€16.1mabove the sector's middle half▼ 3.7%€16.5mabove the sector's middle half▲ 2.4%€21.7mabove the sector's middle half▲ 31.8%€31.7mabove the sector's middle half▲ 46.2%€39.4mabove the sector's middle half▲ 24.3%€39.1mabove the sector's middle half▼ 0.8%
Total assets€350.1m-€312.5m▼ 10.7%€274.9mabove the sector's middle half▼ 12.0%€219.7mabove the sector's middle half▼ 20.1%€181.2mabove the sector's middle half▼ 17.5%€151.0mabove the sector's middle half▼ 16.6%€149.5mabove the sector's middle half▼ 1.0%€144.1mabove the sector's middle half▼ 3.6%
Debt€333.6m-€295.6m▼ 11.4%€258.7m▼ 12.5%€203.2m▼ 21.5%€159.5m▼ 21.5%€119.3m▼ 25.2%€110.1m▼ 7.7%€105.0m▼ 4.6%
Working capital-€71.5m--€70.0m▲ 2.1%-€73.4mbelow the sector's middle half▼ 4.8%-€68.9mbelow the sector's middle half▲ 6.1%-€51.0mbelow the sector's middle half▲ 26.0%-€46.6mbelow the sector's middle half▲ 8.7%-€24.7mbelow the sector's middle half▲ 47.0%-€10.1mbelow the sector's middle half▲ 59.3%
Solvency4.7%-5.3%▲ 0.7pp5.8%below the sector's middle half▲ 0.5pp7.5%below the sector's middle half▲ 1.6pp12.0%below the sector's middle half▲ 4.5pp21.0%within the sector's middle half▲ 9.0pp26.3%within the sector's middle half▲ 5.4pp27.1%within the sector's middle half▲ 0.8pp
Current ratio0.58-0.58=0.56below the sector's middle half▼ 0.020.51below the sector's middle half▼ 0.040.58below the sector's middle half▲ 0.070.57below the sector's middle half▼ 0.010.76within the sector's middle half▲ 0.190.90within the sector's middle half▲ 0.14
Return on assets (ROA)4.6%-5.9%▲ 1.2pp7.1%within the sector's middle half▲ 1.2pp12.0%above the sector's middle half▲ 5.0pp18.1%above the sector's middle half▲ 6.1pp24.8%above the sector's middle half▲ 6.8pp23.5%above the sector's middle half▼ 1.3pp18.9%above the sector's middle half▼ 4.7pp
Staff (FTE)101-84.2▼ 16.6%69.5above the sector's middle half▼ 17.5%72.1above the sector's middle half▲ 3.7%71.4above the sector's middle half▼ 1.0%68.5above the sector's middle half▼ 4.1%70.2above the sector's middle half▲ 2.5%69.6above the sector's middle half▼ 0.9%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 23% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €144.1m
Fixed assets
€54.4m ▼ 24.2%
Current assets
€89.7m ▲ 15.2%
Equity and liabilities €144.1m
Equity
€39.1m ▼ 0.8%
Debt
€105.0m ▼ 4.6%
Debt's share of the balance-sheet total falls from 73.7% to 72.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€58.5m▼
2024 · €67.6m
Cash flow
€49.5m▼
2024 · €56.0m
Debt to equity
2.69▼
2024 · 2.80
ROE
69.5%▼
2024 · 89.4%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€99.8m▼
2024 · €102.5m
Income taxes
€9.3m▼
2024 · €11.9m
Customer credit
90 days▲
2024 · 90 days
Supplier credit
87 days▲
2024 · 83 days
Staff costs
€8.2m▲
2024 · €7.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 71 | 75 | 71 | 70 | 69 |
| full-time | 65 | 68 | 64 | 64 | 62 |
| part-time | 6 | 7 | 7 | 6 | 7 |
| in full-time equivalents | 69.6 | 73.5 | 69.5 | 68.9 | 68.8 |
| Average over the year, in full-time equivalents | 72.1 | 71.4 | 68.5 | 70.2 | 69.6 |
| On a permanent contract | 70 | 74 | 70 | 70 | 69 |
| Joined | 7 | 12 | 8 | 3 | 5 |
| Left | 11 | 9 | 12 | 4 | 7 |
| Agency workers, average number | 1 | 1 | 1 | 3 | 1.2 |
| Training hours | 560 | 576 | 540 | 519 | 417 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €284,746 | €426,950 | €839,508 | €4.0m | €4.7m |
| Intangible fixed assets | €945,013 | €282,124 | €1.2m | €264,524 | €240,864 |
| Depreciation and write-downs of the year | €36.5m | €36.6m | €24.4m | €20.8m | €22.3m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €45,759 | €46,375 | €47,160 | €49,093 | €51,205 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 · 1 entry · €5,027 awarded · €5,027 paidSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €136.7m | €140.5m | €136.6m | €132.1m | €122.4m | ▼ 7.3% |
| Turnover70 | €128.5m | €128.4m | €126.9m | €122.0m | €133.5m | €130.9m | €121.3m | €113.1m | ▼ 6.7% |
| Own construction capitalised72 | - | - | - | €0 | - | - | €3.4m | €4.6m | ▲ 34.5% |
| Other operating income74 | - | - | - | €14.7m | €7.1m | €5.8m | €7.4m | €4.7m | ▼ 36.5% |
| Operating charges60/66A | - | - | - | €98.3m | €94.0m | €84.5m | €85.3m | €86.2m | ▲ 1.0% |
| Goods for resale, raw materials and consumables60 | - | - | - | €51.2m | €47.7m | €49.3m | €53.2m | €52.3m | ▼ 1.7% |
| Purchases600/8 | - | - | - | €51.2m | €47.7m | €49.3m | €53.2m | €52.3m | ▼ 1.7% |
| Change in stocks: decrease (increase)609 | - | - | - | €0 | - | - | - | - | - |
| Services and other goods61 | - | - | - | €4.0m | €3.4m | €3.5m | €3.8m | €3.3m | ▼ 12.9% |
| Remuneration, social security and pensions62 | - | - | - | €6.0m | €6.4m | €7.2m | €7.5m | €8.2m | ▲ 10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37.5m | €37.5m | €36.5m | €36.5m | €36.6m | €24.4m | €20.8m | €22.3m | ▲ 7.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.1m | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.1m | €0.03m | €0.03m | €0.03m | €0.05m | ▲ 30.3% |
| Non-recurring operating charges66A | - | - | - | €0.6m | - | - | - | - | - |
| Operating profit (loss)9901 | €27.6m | €30.1m | €29.5m | €38.4m | €46.5m | €52.1m | €46.8m | €36.2m | ▼ 22.6% |
| Financial income75/76B | - | - | - | €0.001m | €0.001m | €0.2m | €0.6m | €0.6m | ▼ 11.8% |
| Recurring financial income75 | €0.001m | €0.007m | €0.005m | €0.001m | €0.001m | €0.2m | €0.6m | €0.6m | ▼ 11.8% |
| Income from current assets751 | - | - | - | €0.001m | €0.001m | €0.2m | €0.6m | €0.6m | ▼ 11.8% |
| Other financial income752/9 | - | - | - | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €3.1m | €2.7m | €2.2m | €0.3m | €0.3m | ▲ 2.8% |
| Recurring financial charges65 | €4.3m | €3.9m | €3.5m | €3.1m | €2.7m | €2.2m | €0.3m | €0.3m | ▲ 2.8% |
| Debt charges650 | €4.2m | €3.8m | €3.4m | €2.9m | €2.5m | €2.1m | €0.2m | €0.2m | ▼ 0.3% |
| Other financial charges652/9 | - | - | - | €0.2m | €0.2m | €0.1m | €0.08m | €0.09m | ▲ 11.4% |
| Profit (loss) for the period before taxes9903 | €23.3m | €26.2m | €26.0m | €35.3m | €43.8m | €50.1m | €47.1m | €36.5m | ▼ 22.6% |
| Income taxes67/77 | €7.0m | €7.8m | €6.6m | €8.9m | €11.1m | €12.6m | €11.9m | €9.3m | ▼ 21.8% |
| Taxes670/3 | - | - | - | €8.9m | €11.1m | €12.6m | €11.9m | €9.3m | ▼ 21.9% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | - | €0.002m | €0.003m | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €16.3m | €18.4m | €19.4m | €26.4m | €32.7m | €37.5m | €35.2m | €27.2m | ▼ 22.8% |
| Profit (loss) for the period to be appropriated9905 | €16.3m | €18.4m | €19.4m | €26.4m | €32.7m | €37.5m | €35.2m | €27.2m | ▼ 22.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €350.1m | €312.5m | €274.9m | €219.7m | €181.2m | €151.0m | €149.5m | €144.1m | ▼ 3.6% |
| Formation expenses20 | €1.6m | €0.2m | €0.003m | €0 | €0 | - | - | - | - |
| Fixed assets21/28 | €250.9m | €215.8m | €182.4m | €146.5m | €110.6m | €88.2m | €71.7m | €54.4m | ▼ 24.2% |
| Intangible fixed assets21 | €134.1m | €120.2m | €106.9m | €93.1m | €78.5m | €64.8m | €50.0m | €41.1m | ▼ 17.7% |
| Tangible fixed assets22/27 | €116.8m | €95.5m | €75.5m | €53.4m | €32.1m | €23.4m | €21.7m | €13.2m | ▼ 39.0% |
| Plant, machinery and equipment23 | - | - | - | €52.9m | €31.7m | €22.6m | €17.5m | €12.2m | ▼ 30.4% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.08m | €0.07m | €0.1m | €0.07m | ▼ 41.6% |
| Other tangible fixed assets26 | - | - | - | €0.4m | €0.3m | €0.7m | €0.6m | €0.4m | ▼ 34.6% |
| Assets under construction and advance payments27 | - | - | - | €0 | - | - | €3.4m | €0.6m | ▼ 83.8% |
| Financial fixed assets28 | €0.009m | €0.008m | €0.004m | €0.004m | €0.004m | €0.002m | €0 | - | - |
| Other financial fixed assets284/8 | - | - | - | €0.004m | €0.004m | €0.002m | €0 | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.004m | €0.004m | €0.002m | €0 | - | - |
| Current assets29/58 | €97.6m | €96.5m | €92.5m | €73.2m | €70.5m | €62.8m | €77.9m | €89.7m | ▲ 15.2% |
| Amounts receivable after more than one year29 | - | - | - | €5.1m | €4.1m | €3.1m | €2.2m | €1.2m | ▼ 44.4% |
| Trade receivables290 | - | - | - | €5.1m | €4.1m | €3.1m | €2.2m | €1.2m | ▼ 44.4% |
| Stocks and contracts in progress3 | - | - | €0.2m | €0.2m | €0.03m | - | - | - | - |
| Stocks30/36 | - | - | - | €0.2m | €0.03m | - | - | - | - |
| Goods purchased for resale34 | - | - | - | €0.2m | €0.03m | - | - | - | - |
| Amounts receivable within one year40/41 | €29.6m | €28.3m | €30.6m | €27.4m | €30.9m | €33.4m | €30.6m | €28.6m | ▼ 6.6% |
| Trade receivables40 | - | - | - | €26.8m | €30.3m | €32.6m | €30.0m | €28.0m | ▼ 6.6% |
| Other amounts receivable41 | - | - | - | €0.6m | €0.6m | €0.8m | €0.6m | €0.6m | ▼ 4.4% |
| Current investments50/53 | €47.6m | €50.1m | €37.1m | €25.1m | €12.0m | €10.1m | €26.9m | €38.8m | ▲ 44.3% |
| Other investments51/53 | - | - | - | €25.1m | €12.0m | €10.1m | €26.9m | €38.8m | ▲ 44.3% |
| Cash at bank and in hand54/58 | €11.9m | €10.5m | €17.8m | €15.2m | €23.1m | €15.9m | €17.8m | €20.9m | ▲ 17.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.3m | €0.3m | €0.4m | €0.2m | ▼ 45.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €350.1m | €312.5m | €274.9m | €219.7m | €181.2m | €151.0m | €149.5m | €144.1m | ▼ 3.6% |
| Equity10/15 | €16.3m | €16.7m | €16.1m | €16.5m | €21.7m | €31.7m | €39.4m | €39.1m | ▼ 0.8% |
| Contributions10/11 | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | = |
| Capital10 | - | - | - | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | = |
| Issued capital100 | - | - | - | €10.0m | €10.0m | €10.0m | €10.0m | €10.0m | = |
| Reserves13 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Non-distributable reserves130/1 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Legal reserve130 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Profit (loss) carried forward14 | €5.3m | €5.7m | €5.1m | €5.5m | €10.7m | €20.7m | €28.4m | €28.1m | ▼ 1.2% |
| Provisions and deferred taxes16 | €0.2m | €0.2m | €0.1m | €0 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0 | - | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €0 | - | - | - | - | - |
| Amounts payable17/49 | €333.6m | €295.6m | €258.7m | €203.2m | €159.5m | €119.3m | €110.1m | €105.0m | ▼ 4.6% |
| Amounts payable after more than one year17 | €76.0m | €58.7m | €40.5m | €26.9m | €21.7m | €0 | €0 | - | - |
| Financial debts170/4 | - | - | - | €26.9m | €21.7m | €0 | €0 | - | - |
| Subordinated loans170 | - | - | - | €21.7m | €21.7m | €0 | €0 | - | - |
| Other loans174 | - | - | - | €5.1m | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €169.1m | €166.6m | €165.9m | €142.1m | €121.5m | €109.4m | €102.5m | €99.8m | ▼ 2.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13.7m | €5.1m | - | - | - | - |
| Trade debts44 | €10.7m | €9.1m | €10.9m | €9.4m | €9.7m | €11.1m | €12.1m | €12.4m | ▲ 2.8% |
| Suppliers440/4 | - | - | - | €9.4m | €9.7m | €11.1m | €12.1m | €12.4m | ▲ 2.8% |
| Taxes, remuneration and social security45 | - | - | - | €1.2m | €0.9m | €1.2m | €1.2m | €1.6m | ▲ 37.2% |
| Taxes450/3 | - | - | - | €0.7m | €0.3m | €0.6m | €0.4m | €0.6m | ▲ 28.3% |
| Remuneration and social security454/9 | - | - | - | €0.6m | €0.6m | €0.7m | €0.7m | €1.0m | ▲ 42.5% |
| Other amounts payable47/48 | - | - | - | €117.8m | €105.7m | €97.0m | €89.3m | €85.7m | ▼ 4.0% |
| Accrued charges and deferred income492/3 | - | - | - | €34.3m | €16.2m | €10.0m | €7.6m | €5.2m | ▼ 31.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16.3m | €18.4m | €19.4m | €26.4m | €32.7m | €37.5m | €35.2m | €27.2m | ▼ 22.8% |
| + Depreciation and write-downs630 | €37.5m | €37.5m | €36.5m | €36.5m | €36.6m | €24.4m | €20.8m | €22.3m | ▲ 7.1% |
| Operating cash flow (approximation) | €53.8m | €55.9m | €55.9m | €62.9m | €69.3m | €61.9m | €56.0m | €49.5m | ▼ 11.7% |
| Investment in fixed assets (approximation) | - | -€2.3m | -€3.1m | -€0.6m | -€0.7m | -€2.0m | -€4.3m | -€5.0m | ▼ 16.9% |
| Change in cash | - | -€1.4m | €7.3m | -€2.6m | €8.0m | -€7.2m | €1.9m | €3.1m | ▲ 67.2% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 172 companies had the same profile as Satellic has now. Two years later, 96.5% were still going and 0.0% had gone bankrupt.
- Medium-sized
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.5%
stopped otherwise
0.0%
went bankrupt
That fits the bankruptcy probability of Satellic itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 172 companies, not a prediction for Satellic. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 08-06-2026 | 2026-00154769 | |
| 31-12-2024 | full format | 23-05-2025 | 2025-00108171 | |
| 31-12-2023 | full format | 27-05-2024 | 2024-00097766 | |
| 31-12-2022 | full format | 30-05-2023 | 2023-00103055 | |
| 31-12-2021 | full format | 07-06-2022 | 2022-20056689 | |
| 31-12-2020 | full format | 26-05-2021 | 2021-15400384 | |
| 31-12-2019 | full format | 27-05-2020 | 2020-13500512 | |
| 31-12-2018 | full format | 29-05-2019 | 2019-15200020 | |
| 31-12-2017 | full format | 24-05-2018 | 2018-13600380 | |
| 31-12-2016 | full format | 23-05-2017 | 2017-13100467 |
Board & ownership
Directors
Directors
3 directors, last change in 2024
Board 3
Stefan Propst
Current
B bestuurder · since 15-05-2023 · term until the 2029 general meeting · listed in the 2025 annual accounts, filed on 08-06-2026
Igor Soczynski
Current
Director · since 21-05-2024 · term until the 2027 general meeting · listed in the 2025 annual accounts, filed on 08-06-2026
Thomas Pferr
Current
Director · since 21-05-2024 · term until the 2027 general meeting · listed in the 2025 annual accounts, filed on 08-06-2026
Statutory auditor 1
DELOITTE Bedrijfsrevisoren BV
Current
Statutory auditor · current term since 13-05-2025 · 3-year term from 2025 · permanent representative: Nico Houthaeve · listed in the 2025 annual accounts, filed on 08-06-2026
Other functions 3
Filip Van Nieuwenhuysen
Current
Lid van het uitvoerend comité · appointed in the act of 17-08-2022 · earlier member of the executive committee, until 25-01-2024 · 3-year term from 2024
Kurt Cornelis
Current
Lid van het uitvoerend comité · appointed in the act of 25-01-2024 · earlier member of the executive committee, until 25-01-2024 · 3-year term from 2024
Olivier Sachs
Current
Lid van het uitvoerend comité · appointed in the act of 25-01-2024 · earlier member of the executive committee, until 25-01-2024 · 3-year term from 2024
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Artikel 18: Vertegenwoordiging van de vennootschap 1. De raad van bestuur vertegenwoordigt de vennootschap jegens derden in alle materies…”
deed of 06-02-2024Owners and capital
Shareholders
1 ownerChain of control
- DEUTSCHE TELEKOM AGDE
- Satellic
Owners 1
- DEUTSCHE TELEKOM AGDEparentSourceLEI registerconsolidated
Capital transactions
Capital over time
- 06-02-2024 Incorporation · €61,500 · 61,500 shares
- 06-02-2024 Capital increase of €9,938,500 · to €10,000,000 · 9,938,500 new shares
Mandate history
8 people, 7 in office
- Board
- Day-to-day management
- Statutory auditor
- Other function
- began earlier
| Name | Functions and periods |
|---|---|
| Stefan Propst |
|
| Igor Soczynski |
|
| Thomas Pferr |
|
| DELOITTE Bedrijfsrevisoren BV |
|
| Kurt Cornelis |
|
| Filip Van Nieuwenhuysen |
|
| Olivier Sachs |
|
| Saverio Donati |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “3, mag bestaan uit twee bestuurders indien en zolang minder dan drie aandeelhouders”“Hoogstens zes jaar, te allen tijde zonder opgave van redenen met onmiddellijke ingang”
Articles of association, deed of 06-02-2024 (in Dutch)
Network & group
Part of the group
DEUTSCHE TELEKOM AG
3 companies
Group, risk and exposure
Connections & network
3 current directorsThe network starts from the directors of Satellic. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
08-06
full format · 53 days before the deadline
2025
21-10
Gazette deed
Reappointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)2 points ▸
Gazette deed
Reappointment: Deloitte Bedrijfsrevisoren BV (statutory auditor)
2 points ▸
- General meeting, 13-05-2025
- Auditor reappointment, Deloitte Bedrijfsrevisoren BV (statutory auditor)
23-05
full format · 69 days before the deadline
2024
19-08
Gazette deed
Appointments: Thomas Pferr (director) and Igor Soczynski (director)3 points ▸
Gazette deed
Appointments: Thomas Pferr (director) and Igor Soczynski (director)
3 points ▸
- General meeting, 21-05-2024
- Director appointment, Thomas Pferr (director)
- Director appointment, Igor Soczynski (director)
27-05
full format · 65 days before the deadline
06-02
Gazette deed
Capital increase of €9,938,500 to €10,000,000Founding capital · Amendment of the articles · Board composition11 points ▸
Gazette deed
Capital increase of €9,938,500 to €10,000,000
Founding capital · Amendment of the articles · Board composition11 points ▸
- General meeting, 29-12-2023
- Capital, €10,000,000
- Founding capital, €61,500
- General meeting, 25-07-2014
- Capital increase, €9,938,500
- Other provision, “vaststelling geldigheid vergadering” (deed in Dutch)
- Amendment of the articles
- Board composition, Thomas Pferr (lid raad van bestuur)
- Board composition, Stefan Propst (lid raad van bestuur)
- Board composition, Igor Soczynski (lid raad van bestuur)
- Registered office clause, “Leonardo da Vincilaan 19,1831 Machelen” (deed in Dutch)
25-01
Gazette deed
Changes of role: Kurt Cornelis, Olivier Sachs and Filip Van NieuwenhuysenPower of attorney10 points ▸
Gazette deed
Changes of role: Kurt Cornelis, Olivier Sachs and Filip Van Nieuwenhuysen
Power of attorney10 points ▸
- Board meeting, 08-01-2024
- Other provision, 29-12-2023
- Director resignation, Kurt Cornelis (member of the executive committee)
- Director resignation, Olivier Sachs (member of the executive committee)
- Director resignation, Filip Van Nieuwenhuysen (member of the executive committee)
- Other provision, “samenstelling, rol, taken en werking vast te leggen in intern reglement, oprichting uitvoerend comité” (deed in Dutch)
- Director appointment, Kurt Cornelis (lid van het uitvoerend comité)
- Director appointment, Olivier Sachs (lid van het uitvoerend comité)
- Director appointment, Filip Van Nieuwenhuysen (lid van het uitvoerend comité)
- Power of attorney
2023
31-12
Financial
Highest result from 2018 to 2025net €37.5m ▲14.6%
The operating result of €52.1m and the net result of €37.5m are both a record.
31-12
Financial
Equity above €25mequity €31.7m ▲46.2%
With a profit in every financial year since 2018, equity grows to €31.7m.
15-06
Gazette deed
Appointment: Stefan Propst (b bestuurder)1 point ▸
Gazette deed
Appointment: Stefan Propst (b bestuurder)
1 point ▸
- Director appointment, Stefan Propst (b bestuurder)
30-05
full format · 62 days before the deadline
2022
22-08
Gazette deed
2 directors appointed, 1 director resigningAppointments: Kurt Cornelis (chief executive officer en lid van het directiecomité) and Deloitte Bedrijfsrevisoren BV (statutory auditor) · Resignation: BV PwC Bedrijfsrevisoren (statutory auditor)11 points ▸
Gazette deed
2 directors appointed, 1 director resigning
Appointments: Kurt Cornelis (chief executive officer en lid van het directiecomité) and Deloitte Bedrijfsrevisoren BV (statutory auditor) · Resignation: BV PwC Bedrijfsrevisoren (statutory auditor)11 points ▸
- Board meeting, 03-05-2022
- Director appointment, Kurt Cornelis (chief executive officer en lid van het directiecomité)
- Board composition, Kurt Cornelis (CEO)
- Board composition, Saverio Donati (cfo)
- Board composition, Oliver Sachs (cto)
- Other provision, “kwijting leden directiecomité, met éénparigheid van stemmen” (deed in Dutch)
- General meeting, 10-05-2022
- Other provision, “kwijting leden raad van bestuur en commissaris, algemene vergadering” (deed in Dutch)
- Auditor resignation, BV PwC Bedrijfsrevisoren (statutory auditor)
- Other provision, “kwijting commissaris, huidige boekjaar tot dag algemene vergadering met benoeming nieuwe commissaris” (deed in Dutch)
- Auditor appointment, Deloitte Bedrijfsrevisoren BV (statutory auditor)
Show earlier events
17-08
Gazette deed
Resignation: Saverio Donati (chief financial officer en lid van het directiecomité)Appointment: Filip Van Nieuwenhuysen (chief financial officer en lid van het directiecomité) · Director discharge7 points ▸
Gazette deed
Resignation: Saverio Donati (chief financial officer en lid van het directiecomité)
Appointment: Filip Van Nieuwenhuysen (chief financial officer en lid van het directiecomité) · Director discharge7 points ▸
- Board meeting, 30-06-2022
- Other provision, “verzaking aan formaliteiten van bijeenroeping en termijnen, Beslissing 1” (deed in Dutch)
- Director resignation, Saverio Donati (chief financial officer en lid van het directiecomité)
- Director discharge, Saverio Donati (lid van het directiecomité, in het bijzonder chief financial officer)
- Director appointment, Filip Van Nieuwenhuysen (chief financial officer en lid van het directiecomité)
- Director in office, Kurt Comelis (ceo, lid van het directiecomité)
- Director in office, Oliver Sachs (cto, lid van het directiecomité)
07-06
full format · 54 days before the deadline
2021
26-05
full format · 66 days before the deadline
2020
27-05
full format · 65 days before the deadline
2019
29-05
full format · 63 days before the deadline
2018
24-05
full format · 68 days before the deadline
2017
23-05
full format · 69 days before the deadline
2014
25-07
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Satellic in Dutch
Enterprise number
0556.799.596
LEI code
894500B20IWDBYWTCF12
live in the LEI register
Legal form
Public limited company
Status
Active, normale toestand
Founded
23-07-2014
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 06-02-2024 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, mag bij beslissing van de raad van bestuur bestuurszetels,bijhuizen,agentschappen,opslagplaatsen en kantoren oprichten in…”
deed of 06-02-2024 (in Dutch)Registered office and establishments
Registered office
Leonardo da Vincilaan 19, 1831 Machelen (Brab.), Belgium
Establishment unit
Satellic, Leonardo da Vincilaan 19, 1831 Machelen (Brab.) since 23-07-2014 · unit number 2.233.325.426
Activities
NACEBEL 2025VAT activities
82990
Other business support services main activity
61100
Wired, wireless and satellite telecommunications
61900
Telecommunications
Social security (RSZ) activities
82990
Other business support services main activity
Codes under NACEBEL 2008
VAT activities
82990
Other business support services main activity
61300
Telecommunications
61900
Telecommunications
Social security (RSZ) activities
82990
Other business support services main activity
Joint committee
200 Aanvullend Paritair Comité voor de bedienden annual accounts 2024
Invoicing and payment
VAT number
BE 0556.799.596
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Tuesday of May at 14:00
deed of 06-02-2024 (in Dutch)Environmental permits
1 application in Flanders since 2020 · 1 granted
Nieuwbouw of aanleggen
Source: Omgevingsloket Vlaanderen.
Sites & property
Location