@SAT: 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.
@SAT
Largest movements
- Cash -€201,629
down €201,629 (-35.1%), from €573,917 to €372,288
mainly Trade debts (-€343,785) and Receivables within one year (-€55,625)
- Receivables within one year +€55,625
up €55,625 (+16.5%), from €337,952 to €393,578
of which Other amounts receivable: +€64,369
- Tangible fixed assets -€55,469
down €55,469 (-49.1%), from €112,977 to €57,509
of which Other tangible fixed assets: -€36,997
- Trade debts -€343,785
down €343,785 (-97.8%), from €351,492 to €7,707
- Reserves +€102,556
up €102,556 (+16.2%), from €632,300 to €734,856
- Tax, wage and social debts +€39,756
up €39,756 (+32.5%), from €122,454 to €162,211
of which Taxes: +€50,407
- Gross operating margin -€208,476
down €208,476 (-39.7%), from €524,928 to €316,452
- Staff costs -€70,471
down €70,471 (-38.6%), from €182,746 to €112,276
- Taxes -€63,322
down €63,322 (-57.1%), from €110,911 to €47,589
- Other operating charges +€15,513
up €15,513 (+1176.5%), from €1,319 to €16,832
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 | €1,124,846 | €923,374 | -€201,472 | -17.9% |
| Fixed assets | 21/28 | €112,977 | €57,509 | -€55,469 | -49.1% |
| Tangible fixed assets | 22/27 | €112,977 | €57,509 | -€55,469 | -49.1% |
| Plant, machinery and equipment | 23 | €2,796 | €1,698 | -€1,098 | -39.3% |
| Furniture and vehicles | 24 | €73,185 | €55,810 | -€17,374 | -23.7% |
| Other tangible fixed assets | 26 | €36,997 | - | -€36,997 | |
| Current assets | 29/58 | €1,011,869 | €865,866 | -€146,003 | -14.4% |
| Amounts receivable within one year | 40/41 | €337,952 | €393,578 | +€55,625 | +16.5% |
| Trade receivables | 40 | €22,738 | €13,995 | -€8,744 | -38.5% |
| Other amounts receivable | 41 | €315,214 | €379,583 | +€64,369 | +20.4% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €573,917 | €372,288 | -€201,629 | -35.1% |
| Total equity and liabilities | 10/49 | €1,124,846 | €923,374 | -€201,472 | -17.9% |
| Equity | 10/15 | €650,900 | €753,456 | +€102,556 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €632,300 | €734,856 | +€102,556 | +16.2% |
| Distributable reserves | 133 | €632,300 | €734,856 | +€102,556 | +16.2% |
| Amounts payable | 17/49 | €473,947 | €169,918 | -€304,029 | -64.1% |
| Amounts payable within one year | 42/48 | €473,947 | €169,918 | -€304,029 | -64.1% |
| Trade debts | 44 | €351,492 | €7,707 | -€343,785 | -97.8% |
| Suppliers | 440/4 | €351,492 | €7,707 | -€343,785 | -97.8% |
| Taxes, remuneration and social security | 45 | €122,454 | €162,211 | +€39,756 | +32.5% |
| Taxes | 450/3 | €111,689 | €162,096 | +€50,407 | +45.1% |
| Remuneration and social security | 454/9 | €10,766 | €115 | -€10,651 | -98.9% |
| Remuneration, social security and pensions | 62 | €182,746 | €112,276 | -€70,471 | -38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,003 | €18,472 | +€469 | +2.6% |
| Other operating charges | 640/8 | €1,319 | €16,832 | +€15,513 | +1176.5% |
| Non-recurring operating charges | 66A | - | €36,997 | +€36,997 | |
| Gross operating margin | 9900 | €524,928 | €316,452 | -€208,476 | -39.7% |
| Operating profit (loss) | 9901 | €322,859 | €131,876 | -€190,984 | -59.2% |
| Financial income | 75/76B | €17,813 | €18,501 | +€688 | +3.9% |
| Recurring financial income | 75 | €17,813 | €18,501 | +€688 | +3.9% |
| Financial charges | 65/66B | €344 | €231 | -€113 | -32.8% |
| Recurring financial charges | 65 | €344 | €231 | -€113 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €340,328 | €150,145 | -€190,183 | -55.9% |
| Income taxes | 67/77 | €110,911 | €47,589 | -€63,322 | -57.1% |
| Profit (loss) for the period | 9904 | €229,418 | €102,556 | -€126,861 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €229,418 | €102,556 | -€126,861 | -55.3% |
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 10 October 2026 via checked.be.