ELECTRO-SAT BELGIUM: what changed
ELECTRO-SAT BELGIUM
Largest movements
- Cash +€5,587
up €5,587 (+13.8%), from €40,484 to €46,070
mainly Trade debts (+€12,916) and Depreciation (+€1,402)
- Receivables within one year +€4,535
up €4,535 (+43.8%), from €10,352 to €14,888
of which Trade receivables: +€2,395
- Stocks and contracts +€3,150
up €3,150 (+98.7%), from €3,190 to €6,340
- Tangible fixed assets -€852
down €852 (-54.5%), from €1,563 to €710
- Trade debts +€12,916
up €12,916 (+625%), from €2,065 to €14,981
- Tax, wage and social debts -€1,315
down €1,315 (-13.1%), from €10,031 to €8,716
- Gross operating margin -€7,962
down €7,962 (-63.7%), from €12,502 to €4,540
- Taxes -€1,338
down €1,338 (-36.1%), from €3,703 to €2,365
- Other operating charges +€153
up €153 (+52.0%), from €294 to €447
- Financial charges -€146
down €146 (-48.1%), from €304 to €158
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,789 | €69,658 | +€11,870 | +20.5% |
| Fixed assets | 21/28 | €3,763 | €2,360 | -€1,402 | -37.3% |
| Intangible fixed assets | 21 | €2,200 | €1,650 | -€550 | -25.0% |
| Tangible fixed assets | 22/27 | €1,563 | €710 | -€852 | -54.5% |
| Furniture and vehicles | 24 | €1,563 | €710 | -€852 | -54.5% |
| Current assets | 29/58 | €54,026 | €67,298 | +€13,272 | +24.6% |
| Stocks and contracts in progress | 3 | €3,190 | €6,340 | +€3,150 | +98.7% |
| Stocks | 30/36 | €3,190 | €6,340 | +€3,150 | +98.7% |
| Amounts receivable within one year | 40/41 | €10,352 | €14,888 | +€4,535 | +43.8% |
| Trade receivables | 40 | €4,700 | €7,094 | +€2,395 | +51.0% |
| Other amounts receivable | 41 | €5,653 | €7,793 | +€2,141 | +37.9% |
| Cash at bank and in hand | 54/58 | €40,484 | €46,070 | +€5,587 | +13.8% |
| Total equity and liabilities | 10/49 | €57,789 | €69,658 | +€11,870 | +20.5% |
| Equity | 10/15 | €45,692 | €45,961 | +€269 | +0.6% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,692 | €27,961 | +€269 | +1.0% |
| Amounts payable | 17/49 | €12,097 | €23,697 | +€11,601 | +95.9% |
| Amounts payable within one year | 42/48 | €12,097 | €23,697 | +€11,601 | +95.9% |
| Trade debts | 44 | €2,065 | €14,981 | +€12,916 | +625% |
| Suppliers | 440/4 | €2,065 | €14,981 | +€12,916 | +625% |
| Taxes, remuneration and social security | 45 | €10,031 | €8,716 | -€1,315 | -13.1% |
| Taxes | 450/3 | €10,031 | €8,716 | -€1,315 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,402 | €1,402 | = | 0.0% |
| Other operating charges | 640/8 | €294 | €447 | +€153 | +52.0% |
| Gross operating margin | 9900 | €12,502 | €4,540 | -€7,962 | -63.7% |
| Operating profit (loss) | 9901 | €10,805 | €2,690 | -€8,115 | -75.1% |
| Financial income | 75/76B | €54 | €102 | +€48 | +89.8% |
| Recurring financial income | 75 | €54 | €102 | +€48 | +89.8% |
| Financial charges | 65/66B | €304 | €158 | -€146 | -48.1% |
| Recurring financial charges | 65 | €304 | €158 | -€146 | -48.1% |
| Profit (loss) for the period before taxes | 9903 | €10,554 | €2,634 | -€7,920 | -75.0% |
| Income taxes | 67/77 | €3,703 | €2,365 | -€1,338 | -36.1% |
| Profit (loss) for the period | 9904 | €6,851 | €269 | -€6,582 | -96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,851 | €269 | -€6,582 | -96.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.