CSAT: what changed
Two fiscal 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.
CSAT
Largest movements
- Tangible fixed assets +€68,830
up €68,830 (+7592.9%), from €907 to €69,737
of which Furniture and vehicles: +€63,196
- Receivables within one year -€10,443
down €10,443 (-3.1%), from €339,787 to €329,344
of which Other amounts receivable: -€9,978
- Stocks and contracts -€6,500
down €6,500 (-18.6%), from €35,039 to €28,539
- Cash -€5,415
down €5,415 (-84.2%), from €6,429 to €1,015
mainly Investment in fixed assets (net) (-€82,625) and Trade debts (-€3,661)
- Debts after one year +€26,136
new in 2025: €26,136
- Current portion of long-term debt +€7,672
up €7,672, from €0 to €7,672
- Other debts +€7,477
up €7,477 (+249.2%), from €3,000 to €10,477
- Reserves +€6,977
up €6,977 (+2.2%), from €323,429 to €330,405
- Gross operating margin +€15,065
up €15,065, from -€540 to €14,525
- Depreciation +€13,657
up €13,657 (+9936.6%), from €137 to €13,794
- Taxes +€939
up €939 (+38.3%), from €2,453 to €3,392
- Financial income -€913
down €913 (-6.8%), from €13,519 to €12,606
- Financial charges +€796
up €796 (+69.9%), from €1,139 to €1,935
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 | €383,775 | €431,832 | +€48,056 | +12.5% |
| Fixed assets | 21/28 | €907 | €69,737 | +€68,830 | +7592.9% |
| Tangible fixed assets | 22/27 | €907 | €69,737 | +€68,830 | +7592.9% |
| Plant, machinery and equipment | 23 | €744 | €6,379 | +€5,635 | +757.0% |
| Furniture and vehicles | 24 | €162 | €63,358 | +€63,196 | +38966.3% |
| Current assets | 29/58 | €382,869 | €362,095 | -€20,774 | -5.4% |
| Stocks and contracts in progress | 3 | €35,039 | €28,539 | -€6,500 | -18.6% |
| Stocks | 30/36 | €35,039 | €28,539 | -€6,500 | -18.6% |
| Amounts receivable within one year | 40/41 | €339,787 | €329,344 | -€10,443 | -3.1% |
| Trade receivables | 40 | €4,541 | €4,076 | -€465 | -10.2% |
| Other amounts receivable | 41 | €335,246 | €325,268 | -€9,978 | -3.0% |
| Cash at bank and in hand | 54/58 | €6,429 | €1,015 | -€5,415 | -84.2% |
| Deferred charges and accrued income | 490/1 | €1,614 | €3,197 | +€1,584 | +98.2% |
| Total equity and liabilities | 10/49 | €383,775 | €431,832 | +€48,056 | +12.5% |
| Equity | 10/15 | €329,929 | €336,905 | +€6,977 | +2.1% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €323,429 | €330,405 | +€6,977 | +2.2% |
| Distributable reserves | 133 | €323,429 | €330,405 | +€6,977 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,846 | €94,926 | +€41,080 | +76.3% |
| Amounts payable after more than one year | 17 | - | €26,136 | +€26,136 | |
| Financial debts | 170/4 | - | €26,136 | +€26,136 | |
| Amounts payable within one year | 42/48 | €51,148 | €65,776 | +€14,629 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €7,672 | +€7,672 | |
| Financial debts | 43 | €836 | €425 | -€411 | -49.2% |
| Credit institutions | 430/8 | €836 | €425 | -€411 | -49.2% |
| Trade debts | 44 | €47,312 | €43,651 | -€3,661 | -7.7% |
| Suppliers | 440/4 | €47,312 | €43,651 | -€3,661 | -7.7% |
| Taxes, remuneration and social security | 45 | €0 | €3,551 | +€3,551 | |
| Taxes | 450/3 | €0 | €3,551 | +€3,551 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,000 | €10,477 | +€7,477 | +249.2% |
| Accrued charges and deferred income | 492/3 | €2,699 | €3,014 | +€315 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137 | €13,794 | +€13,657 | +9936.6% |
| Other operating charges | 640/8 | €623 | €1,033 | +€410 | +65.8% |
| Gross operating margin | 9900 | -€540 | €14,525 | +€15,065 | |
| Operating profit (loss) | 9901 | -€1,300 | -€303 | +€998 | +76.7% |
| Financial income | 75/76B | €13,519 | €12,606 | -€913 | -6.8% |
| Recurring financial income | 75 | €13,519 | €12,606 | -€913 | -6.8% |
| Financial charges | 65/66B | €1,139 | €1,935 | +€796 | +69.9% |
| Recurring financial charges | 65 | €1,139 | €1,935 | +€796 | +69.9% |
| Profit (loss) for the period before taxes | 9903 | €11,080 | €10,368 | -€712 | -6.4% |
| Income taxes | 67/77 | €2,453 | €3,392 | +€939 | +38.3% |
| Profit (loss) for the period | 9904 | €8,627 | €6,977 | -€1,650 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,627 | €6,977 | -€1,650 | -19.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.