NXGSAT: 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.
NXGSAT
Largest movements
- Cash +€871,509
up €871,509 (+6,773%), from €12,867 to €884,376
mainly Contributions, distributions and other (+€1.3m) and Depreciation (+€116,502)
- Intangible fixed assets +€243,143
up €243,143 (+52.1%), from €466,886 to €710,030
- Receivables within one year +€177,364
up €177,364 (+383%), from €46,326 to €223,691
of which Other amounts receivable: +€93,248
- Contributions +€1.2m
up €1.2m (+2,397%), from €50,052 to €1.3m
- Investment grants +€136,768
up €136,768 (+52.1%), from €262,624 to €399,392
- Profit (loss) carried forward -€127,783
down €127,783 (-620%), from -€20,621 to -€148,404
- Trade debts +€100,745
up €100,745 (+193%), from €52,124 to €152,870
- Other debts -€74,353
down €74,353 (-98.9%), from €75,151 to €798
- Depreciation +€90,091
up €90,091 (+341%), from €26,411 to €116,502
- Gross operating margin -€66,555
down €66,555 (-58.0%), from €114,740 to €48,185
- Financial income +€50,331
up €50,331 (+360%), from €13,979 to €64,310
- Staff costs +€12,297
up €12,297 (+9.6%), from €128,386 to €140,683
- Financial charges +€4,164
up €4,164 (+5,992%), from €70 to €4,234
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 | €531,875 | €1,840,845 | +€1.3m | +246% |
| Fixed assets | 21/28 | €472,172 | €720,773 | +€248,600 | +52.7% |
| Intangible fixed assets | 21 | €466,886 | €710,030 | +€243,143 | +52.1% |
| Tangible fixed assets | 22/27 | €5,286 | €10,743 | +€5,457 | +103% |
| Furniture and vehicles | 24 | €5,286 | €10,743 | +€5,457 | +103% |
| Current assets | 29/58 | €59,702 | €1,120,072 | +€1.1m | +1,776% |
| Stocks and contracts in progress | 3 | - | €10,200 | +€10,200 | |
| Contracts in progress | 37 | - | €10,200 | +€10,200 | |
| Amounts receivable within one year | 40/41 | €46,326 | €223,691 | +€177,364 | +383% |
| Trade receivables | 40 | - | €84,116 | +€84,116 | |
| Other amounts receivable | 41 | €46,326 | €139,575 | +€93,248 | +201% |
| Cash at bank and in hand | 54/58 | €12,867 | €884,376 | +€871,509 | +6,773% |
| Deferred charges and accrued income | 490/1 | €509 | €1,805 | +€1,297 | +255% |
| Total equity and liabilities | 10/49 | €531,875 | €1,840,845 | +€1.3m | +246% |
| Equity | 10/15 | €292,055 | €1,500,991 | +€1.2m | +414% |
| Contributions | 10/11 | €50,052 | €1,250,003 | +€1.2m | +2,397% |
| Profit (loss) carried forward | 14 | -€20,621 | -€148,404 | -€127,783 | -620% |
| Investment grants | 15 | €262,624 | €399,392 | +€136,768 | +52.1% |
| Provisions and deferred taxes | 16 | €87,541 | €133,131 | +€45,589 | +52.1% |
| Deferred taxes | 168 | €87,541 | €133,131 | +€45,589 | +52.1% |
| Amounts payable | 17/49 | €152,279 | €206,723 | +€54,444 | +35.8% |
| Amounts payable within one year | 42/48 | €152,279 | €172,039 | +€19,760 | +13.0% |
| Trade debts | 44 | €52,124 | €152,870 | +€100,745 | +193% |
| Suppliers | 440/4 | €52,124 | €152,870 | +€100,745 | +193% |
| Taxes, remuneration and social security | 45 | €25,004 | €18,371 | -€6,632 | -26.5% |
| Taxes | 450/3 | €1,162 | €262 | -€900 | -77.5% |
| Remuneration and social security | 454/9 | €23,842 | €18,109 | -€5,732 | -24.0% |
| Other amounts payable | 47/48 | €75,151 | €798 | -€74,353 | -98.9% |
| Accrued charges and deferred income | 492/3 | - | €34,684 | +€34,684 | |
| Remuneration, social security and pensions | 62 | €128,386 | €140,683 | +€12,297 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,411 | €116,502 | +€90,091 | +341% |
| Other operating charges | 640/8 | - | €76 | +€76 | |
| Gross operating margin | 9900 | €114,740 | €48,185 | -€66,555 | -58.0% |
| Operating profit (loss) | 9901 | -€40,056 | -€209,076 | -€169,019 | -422% |
| Financial income | 75/76B | €13,979 | €64,310 | +€50,331 | +360% |
| Recurring financial income | 75 | €13,979 | €64,310 | +€50,331 | +360% |
| Financial charges | 65/66B | €70 | €4,234 | +€4,164 | +5,992% |
| Recurring financial charges | 65 | €70 | €4,234 | +€4,164 | +5,992% |
| Profit (loss) for the period before taxes | 9903 | -€26,147 | -€148,999 | -€122,852 | -470% |
| Transfer from deferred taxes | 780 | €4,639 | €21,437 | +€16,798 | +362% |
| Income taxes | 67/77 | €42 | €220 | +€178 | +427% |
| Profit (loss) for the period | 9904 | -€21,550 | -€127,783 | -€106,232 | -493% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,550 | -€127,783 | -€106,232 | -493% |
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 23 October 2026 via checked.be.