SASTEM: 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.
SASTEM
Largest movements
- Tangible fixed assets +€534,092
up €534,092 (+133.7%), from €399,418 to €933,510
of which Land and buildings: +€537,061
- Debts after one year +€508,549
up €508,549 (+169.5%), from €300,027 to €808,576
of which Financial debts: +€338,742
- Current portion of long-term debt +€11,469
up €11,469 (+39.8%), from €28,845 to €40,315
- Reserves +€10,000
up €10,000 (+50.0%), from €20,000 to €30,000
- Depreciation +€20,973
up €20,973 (+91.2%), from €23,001 to €43,973
- Gross operating margin +€12,780
up €12,780 (+17.4%), from €73,611 to €86,391
- Financial charges +€12,366
up €12,366 (+89.3%), from €13,845 to €26,210
- Taxes -€5,118
down €5,118 (-53.9%), from €9,500 to €4,382
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 | €429,501 | €955,843 | +€526,342 | +122.5% |
| Fixed assets | 21/28 | €399,838 | €933,930 | +€534,092 | +133.6% |
| Tangible fixed assets | 22/27 | €399,418 | €933,510 | +€534,092 | +133.7% |
| Land and buildings | 22 | €390,182 | €927,243 | +€537,061 | +137.6% |
| Plant, machinery and equipment | 23 | €5,337 | €3,667 | -€1,670 | -31.3% |
| Furniture and vehicles | 24 | €3,899 | €2,600 | -€1,300 | -33.3% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €29,664 | €21,914 | -€7,750 | -26.1% |
| Amounts receivable within one year | 40/41 | €25,506 | €20,208 | -€5,298 | -20.8% |
| Trade receivables | 40 | €25,006 | €17,079 | -€7,927 | -31.7% |
| Other amounts receivable | 41 | €500 | €3,128 | +€2,628 | +525.7% |
| Cash at bank and in hand | 54/58 | €4,158 | €1,706 | -€2,452 | -59.0% |
| Total equity and liabilities | 10/49 | €429,501 | €955,843 | +€526,342 | +122.5% |
| Equity | 10/15 | €72,121 | €82,530 | +€10,409 | +14.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Distributable reserves | 133 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Profit (loss) carried forward | 14 | €31,661 | €32,070 | +€409 | +1.3% |
| Amounts payable | 17/49 | €357,380 | €873,314 | +€515,933 | +144.4% |
| Amounts payable after more than one year | 17 | €300,027 | €808,576 | +€508,549 | +169.5% |
| Financial debts | 170/4 | €294,422 | €633,164 | +€338,742 | +115.1% |
| Other amounts payable | 178/9 | €5,605 | €175,412 | +€169,807 | +3029.7% |
| Amounts payable within one year | 42/48 | €57,354 | €64,737 | +€7,384 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €28,845 | €40,315 | +€11,469 | +39.8% |
| Trade debts | 44 | €9,387 | €8,187 | -€1,200 | -12.8% |
| Suppliers | 440/4 | €9,387 | €8,187 | -€1,200 | -12.8% |
| Taxes, remuneration and social security | 45 | €19,122 | €16,236 | -€2,886 | -15.1% |
| Taxes | 450/3 | €19,122 | €16,236 | -€2,886 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,001 | €43,973 | +€20,973 | +91.2% |
| Other operating charges | 640/8 | €1,825 | €1,417 | -€408 | -22.4% |
| Gross operating margin | 9900 | €73,611 | €86,391 | +€12,780 | +17.4% |
| Operating profit (loss) | 9901 | €48,785 | €41,001 | -€7,784 | -16.0% |
| Financial charges | 65/66B | €13,845 | €26,210 | +€12,366 | +89.3% |
| Recurring financial charges | 65 | €13,845 | €26,210 | +€12,366 | +89.3% |
| Profit (loss) for the period before taxes | 9903 | €34,941 | €14,791 | -€20,150 | -57.7% |
| Income taxes | 67/77 | €9,500 | €4,382 | -€5,118 | -53.9% |
| Profit (loss) for the period | 9904 | €25,440 | €10,409 | -€15,032 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,440 | €10,409 | -€15,032 | -59.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.