Satellic: 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.
What changed
Satellic
NACE 82.990, Other business support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€27.2m
2024 · €35.2m-€8.0m
Equity
€39.1m
2024 · €39.4m-€329,129
Cash
€20.9m
2024 · €17.8m+€3.1m
Balance sheet total
€144.1m
2024 · €149.5m-€5.4m
Largest movements
Assets
- Current investments +€11.9m
up €11.9m (+44.3%), from €26.9m to €38.8m
- Intangible fixed assets -€8.9m
down €8.9m (-17.7%), from €50.0m to €41.1m
- Tangible fixed assets -€8.5m
down €8.5m (-39.0%), from €21.7m to €13.2m
of which Plant, machinery and equipment: -€5.3m
- Cash +€3.1m
up €3.1m (+17.5%), from €17.8m to €20.9m
mainly Net result for the year (+€27.2m) and Depreciation (+€22.3m)
- Receivables within one year -€2.0m
down €2.0m (-6.6%), from €30.6m to €28.6m
of which Trade receivables: -€2.0m
Equity and liabilities
- Other debts -€3.5m
down €3.5m (-4.0%), from €89.3m to €85.7m
- Accrued charges and deferred income -€2.4m
down €2.4m (-31.2%), from €7.6m to €5.2m
Income statement
- Turnover -€8.2m
down €8.2m (-6.7%), from €121.3m to €113.1m
- Other operating income -€2.7m
down €2.7m (-36.5%), from €7.4m to €4.7m
- Taxes -€2.6m
down €2.6m (-21.8%), from €11.9m to €9.3m
of which Taxes: -€2.6m
- Depreciation +€1.5m
up €1.5m (+7.1%), from €20.8m to €22.3m
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.
Result 2024
€35.2m
Turnover
-€8.2m
Other operating income
-€2.7m
Goods and materials
+€901,903
Services and other goods
+€492,641
Staff costs
-€766,421
Depreciation
-€1.5m
Other operating charges
-€10,533
Other operating items
+€1.2m
Financial income
-€75,072
Financial charges
-€8,526
Taxes
+€2.6m
Result 2025
€27.2m
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.
From operations
+€47.5m
Investment
-€16.9m
Financing
-€27.5m
Cash 2024
€17.8m
From operations (derived)
+€47.5m
Net result for the year
+€27.2m
Depreciation
+€22.3m
Receivables after one year
+€969,089
Receivables within one year
+€2.0m
Deferred charges and accrued income
+€177,746
Trade debts
+€341,590
Tax, wage and social debts
+€437,320
Other debts
-€3.5m
Accrued charges and deferred income
-€2.4m
Investment (derived)
-€16.9m
Investment in fixed assets (net)
-€5.0m
Current investments
-€11.9m
Financing
-€27.5m
Contributions, distributions and other
-€27.5m
Cash 2025
€20.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,530,246 | €144,082,798 | -€5.4m | -3.6% |
| Fixed assets | 21/28 | €71,661,749 | €54,352,133 | -€17.3m | -24.2% |
| Intangible fixed assets | 21 | €49,989,786 | €41,137,173 | -€8.9m | -17.7% |
| Tangible fixed assets | 22/27 | €21,671,963 | €13,214,960 | -€8.5m | -39.0% |
| Plant, machinery and equipment | 23 | €17,491,887 | €12,165,972 | -€5.3m | -30.4% |
| Furniture and vehicles | 24 | €127,895 | €74,666 | -€53,229 | -41.6% |
| Other tangible fixed assets | 26 | €643,391 | €420,960 | -€222,431 | -34.6% |
| Assets under construction and advance payments | 27 | €3,408,790 | €553,362 | -€2.9m | -83.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €77,868,497 | €89,730,665 | +€11.9m | +15.2% |
| Amounts receivable after more than one year | 29 | €2,180,450 | €1,211,361 | -€969,089 | -44.4% |
| Trade receivables | 290 | €2,180,450 | €1,211,361 | -€969,089 | -44.4% |
| Amounts receivable within one year | 40/41 | €30,635,704 | €28,628,213 | -€2.0m | -6.6% |
| Trade receivables | 40 | €30,007,052 | €28,027,130 | -€2.0m | -6.6% |
| Other amounts receivable | 41 | €628,652 | €601,083 | -€27,569 | -4.4% |
| Current investments | 50/53 | €26,884,001 | €38,795,763 | +€11.9m | +44.3% |
| Other investments | 51/53 | €26,884,001 | €38,795,763 | +€11.9m | +44.3% |
| Cash at bank and in hand | 54/58 | €17,779,100 | €20,883,832 | +€3.1m | +17.5% |
| Deferred charges and accrued income | 490/1 | €389,242 | €211,496 | -€177,746 | -45.7% |
| Total equity and liabilities | 10/49 | €149,530,246 | €144,082,798 | -€5.4m | -3.6% |
| Equity | 10/15 | €39,399,647 | €39,070,518 | -€329,129 | -0.8% |
| Contributions | 10/11 | €10,000,000 | €10,000,000 | = | 0.0% |
| Capital | 10 | €10,000,000 | €10,000,000 | = | 0.0% |
| Issued capital | 100 | €10,000,000 | €10,000,000 | = | 0.0% |
| Reserves | 13 | €1,000,000 | €1,000,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000,000 | €1,000,000 | = | 0.0% |
| Legal reserve | 130 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,399,647 | €28,070,518 | -€329,129 | -1.2% |
| Amounts payable | 17/49 | €110,130,599 | €105,012,280 | -€5.1m | -4.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Subordinated loans | 170 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €102,531,511 | €99,780,734 | -€2.8m | -2.7% |
| Trade debts | 44 | €12,097,195 | €12,438,785 | +€341,590 | +2.8% |
| Suppliers | 440/4 | €12,097,195 | €12,438,785 | +€341,590 | +2.8% |
| Taxes, remuneration and social security | 45 | €1,177,128 | €1,614,448 | +€437,320 | +37.2% |
| Taxes | 450/3 | €441,282 | €566,215 | +€124,933 | +28.3% |
| Remuneration and social security | 454/9 | €735,846 | €1,048,233 | +€312,387 | +42.5% |
| Other amounts payable | 47/48 | €89,257,188 | €85,727,501 | -€3.5m | -4.0% |
| Accrued charges and deferred income | 492/3 | €7,599,088 | €5,231,546 | -€2.4m | -31.2% |
| Operating income | 70/76A | €132,073,703 | €122,383,109 | -€9.7m | -7.3% |
| Turnover | 70 | €121,262,460 | €113,099,582 | -€8.2m | -6.7% |
| Own construction capitalised | 72 | €3,408,790 | €4,586,142 | +€1.2m | +34.5% |
| Other operating income | 74 | €7,402,453 | €4,697,385 | -€2.7m | -36.5% |
| Operating charges | 60/66A | €85,313,326 | €86,170,961 | +€857,635 | +1.0% |
| Goods for resale, raw materials and consumables | 60 | €53,174,493 | €52,272,590 | -€901,903 | -1.7% |
| Purchases | 600/8 | €53,174,493 | €52,272,590 | -€901,903 | -1.7% |
| Services and other goods | 61 | €3,815,474 | €3,322,833 | -€492,641 | -12.9% |
| Remuneration, social security and pensions | 62 | €7,473,389 | €8,239,810 | +€766,421 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,815,251 | €22,290,476 | +€1.5m | +7.1% |
| Other operating charges | 640/8 | €34,719 | €45,252 | +€10,533 | +30.3% |
| Operating profit (loss) | 9901 | €46,760,377 | €36,212,148 | -€10.5m | -22.6% |
| Financial income | 75/76B | €634,865 | €559,793 | -€75,072 | -11.8% |
| Recurring financial income | 75 | €634,865 | €559,793 | -€75,072 | -11.8% |
| Income from current assets | 751 | €634,865 | €559,793 | -€75,072 | -11.8% |
| Financial charges | 65/66B | €307,687 | €316,213 | +€8,526 | +2.8% |
| Recurring financial charges | 65 | €307,687 | €316,213 | +€8,526 | +2.8% |
| Debt charges | 650 | €225,784 | €225,000 | -€784 | -0.3% |
| Other financial charges | 652/9 | €81,903 | €91,213 | +€9,310 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €47,087,555 | €36,455,728 | -€10.6m | -22.6% |
| Income taxes | 67/77 | €11,879,015 | €9,284,858 | -€2.6m | -21.8% |
| Taxes | 670/3 | €11,881,735 | €9,284,858 | -€2.6m | -21.9% |
| Tax adjustments and reversals of tax provisions | 77 | €2,720 | €0 | -€2,720 | -100.0% |
| Profit (loss) for the period | 9904 | €35,208,540 | €27,170,870 | -€8.0m | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,208,540 | €27,170,870 | -€8.0m | -22.8% |
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 30 September 2026 via checked.be.