Project Saturnus: 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.
Project Saturnus
Largest movements
- Receivables within one year -€14,617
down €14,617 (-99.5%), from €14,686 to €69
of which Trade receivables: -€12,600
- Cash +€793
up €793 (+1.4%), from €56,148 to €56,940
mainly Receivables within one year (+€14,617)
- Tax, wage and social debts -€12,536
no longer reported in 2025 (was €12,536)
- Reserves -€1,278
down €1,278 (-15.8%), from €8,087 to €6,809
- Gross operating margin -€58,778
down €58,778, from €57,759 to -€1,018
- Taxes -€2,077
no longer reported in 2025 (was €2,077)
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 | €70,833 | €57,009 | -€13,824 | -19.5% |
| Current assets | 29/58 | €70,833 | €57,009 | -€13,824 | -19.5% |
| Amounts receivable within one year | 40/41 | €14,686 | €69 | -€14,617 | -99.5% |
| Trade receivables | 40 | €12,600 | - | -€12,600 | |
| Other amounts receivable | 41 | €2,086 | €69 | -€2,017 | -96.7% |
| Cash at bank and in hand | 54/58 | €56,148 | €56,940 | +€793 | +1.4% |
| Total equity and liabilities | 10/49 | €70,833 | €57,009 | -€13,824 | -19.5% |
| Equity | 10/15 | €14,287 | €13,009 | -€1,278 | -8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,087 | €6,809 | -€1,278 | -15.8% |
| Distributable reserves | 133 | €8,087 | €6,809 | -€1,278 | -15.8% |
| Amounts payable | 17/49 | €56,546 | €44,000 | -€12,546 | -22.2% |
| Amounts payable within one year | 42/48 | €56,546 | €44,000 | -€12,546 | -22.2% |
| Financial debts | 43 | €10 | - | -€10 | |
| Credit institutions | 430/8 | €10 | - | -€10 | |
| Taxes, remuneration and social security | 45 | €12,536 | - | -€12,536 | |
| Taxes | 450/3 | €12,536 | - | -€12,536 | |
| Other amounts payable | 47/48 | €44,000 | €44,000 | = | 0.0% |
| Other operating charges | 640/8 | €535 | €210 | -€326 | -60.9% |
| Gross operating margin | 9900 | €57,759 | -€1,018 | -€58,778 | |
| Operating profit (loss) | 9901 | €57,224 | -€1,228 | -€58,452 | |
| Financial charges | 65/66B | €46 | €50 | +€5 | +10.2% |
| Recurring financial charges | 65 | €46 | €50 | +€5 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €57,178 | -€1,278 | -€58,456 | |
| Income taxes | 67/77 | €2,077 | - | -€2,077 | |
| Profit (loss) for the period | 9904 | €55,101 | -€1,278 | -€56,379 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,101 | -€1,278 | -€56,379 |
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.