SAT CONSTRUCTION: 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.
SAT CONSTRUCTION
Largest movements
- Receivables within one year +€57,189
up €57,189 (+218.4%), from €26,183 to €83,373
of which Trade receivables: +€46,205
- Cash +€7,055
up €7,055 (+746.9%), from €945 to €8,000
mainly Advances received (+€56,408) and Depreciation (+€7,044)
- Tangible fixed assets -€7,044
down €7,044 (-25.7%), from €27,426 to €20,382
- Advances received +€56,408
new in 2025: €56,408
- Tax, wage and social debts -€3,966
down €3,966 (-43.3%), from €9,151 to €5,185
- Trade debts +€3,457
up €3,457 (+19.5%), from €17,747 to €21,204
- Profit (loss) carried forward +€1,301
up €1,301 (+4.7%), from €27,656 to €28,957
- Gross operating margin -€18,790
down €18,790 (-63.4%), from €29,615 to €10,825
- Other operating charges -€7,520
down €7,520 (-87.5%), from €8,589 to €1,070
- Depreciation +€2,435
up €2,435 (+52.8%), from €4,609 to €7,044
- Taxes -€1,894
down €1,894 (-53.9%), from €3,516 to €1,622
- Financial charges -€847
down €847 (-84.6%), from €1,002 to €154
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 | €54,554 | €111,754 | +€57,200 | +104.8% |
| Fixed assets | 21/28 | €27,426 | €20,382 | -€7,044 | -25.7% |
| Tangible fixed assets | 22/27 | €27,426 | €20,382 | -€7,044 | -25.7% |
| Furniture and vehicles | 24 | €27,426 | €20,382 | -€7,044 | -25.7% |
| Current assets | 29/58 | €27,128 | €91,372 | +€64,244 | +236.8% |
| Amounts receivable within one year | 40/41 | €26,183 | €83,373 | +€57,189 | +218.4% |
| Trade receivables | 40 | €24,850 | €71,055 | +€46,205 | +185.9% |
| Other amounts receivable | 41 | €1,334 | €12,318 | +€10,984 | +823.6% |
| Cash at bank and in hand | 54/58 | €945 | €8,000 | +€7,055 | +746.9% |
| Total equity and liabilities | 10/49 | €54,554 | €111,754 | +€57,200 | +104.8% |
| Equity | 10/15 | €27,656 | €28,957 | +€1,301 | +4.7% |
| Profit (loss) carried forward | 14 | €27,656 | €28,957 | +€1,301 | +4.7% |
| Amounts payable | 17/49 | €26,898 | €82,797 | +€55,899 | +207.8% |
| Amounts payable within one year | 42/48 | €26,898 | €82,797 | +€55,899 | +207.8% |
| Trade debts | 44 | €17,747 | €21,204 | +€3,457 | +19.5% |
| Suppliers | 440/4 | €17,747 | €21,204 | +€3,457 | +19.5% |
| Advances received on contracts in progress | 46 | - | €56,408 | +€56,408 | |
| Taxes, remuneration and social security | 45 | €9,151 | €5,185 | -€3,966 | -43.3% |
| Taxes | 450/3 | €9,151 | €5,185 | -€3,966 | -43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,609 | €7,044 | +€2,435 | +52.8% |
| Other operating charges | 640/8 | €8,589 | €1,070 | -€7,520 | -87.5% |
| Gross operating margin | 9900 | €29,615 | €10,825 | -€18,790 | -63.4% |
| Operating profit (loss) | 9901 | €16,417 | €2,712 | -€13,705 | -83.5% |
| Financial income | 75/76B | €640 | €366 | -€274 | -42.9% |
| Recurring financial income | 75 | €640 | €366 | -€274 | -42.9% |
| Financial charges | 65/66B | €1,002 | €154 | -€847 | -84.6% |
| Recurring financial charges | 65 | €1,002 | €154 | -€847 | -84.6% |
| Profit (loss) for the period before taxes | 9903 | €16,056 | €2,923 | -€13,132 | -81.8% |
| Income taxes | 67/77 | €3,516 | €1,622 | -€1,894 | -53.9% |
| Profit (loss) for the period | 9904 | €12,540 | €1,301 | -€11,239 | -89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,540 | €1,301 | -€11,239 | -89.6% |
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 5 October 2026 via checked.be.