SATER: 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.
SATER
Largest movements
- Cash +€62,422
up €62,422 (+122.6%), from €50,899 to €113,321
mainly Net result for the year (+€73,013) and Tax, wage and social debts (+€15,240)
- Receivables within one year +€12,724
up €12,724 (+161.5%), from €7,880 to €20,604
- Tangible fixed assets -€3,225
down €3,225 (-20.0%), from €16,118 to €12,893
of which Plant, machinery and equipment: -€3,831
- Reserves +€73,013
up €73,013 (+212.6%), from €34,337 to €107,350
- Other debts -€17,349
down €17,349 (-86.0%), from €20,168 to €2,819
- Tax, wage and social debts +€15,240
up €15,240 (+90.7%), from €16,803 to €32,043
- Gross operating margin +€58,509
up €58,509 (+115.6%), from €50,600 to €109,110
- Taxes +€16,065
up €16,065 (+178.8%), from €8,983 to €25,049
- Depreciation +€3,057
up €3,057 (+77.5%), from €3,942 to €6,998
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 | €75,889 | €147,440 | +€71,550 | +94.3% |
| Fixed assets | 21/28 | €16,118 | €12,893 | -€3,225 | -20.0% |
| Tangible fixed assets | 22/27 | €16,118 | €12,893 | -€3,225 | -20.0% |
| Plant, machinery and equipment | 23 | €11,017 | €7,186 | -€3,831 | -34.8% |
| Furniture and vehicles | 24 | €5,101 | €5,707 | +€606 | +11.9% |
| Current assets | 29/58 | €59,772 | €134,547 | +€74,775 | +125.1% |
| Amounts receivable within one year | 40/41 | €7,880 | €20,604 | +€12,724 | +161.5% |
| Trade receivables | 40 | €7,880 | €20,604 | +€12,724 | +161.5% |
| Cash at bank and in hand | 54/58 | €50,899 | €113,321 | +€62,422 | +122.6% |
| Deferred charges and accrued income | 490/1 | €993 | €622 | -€371 | -37.4% |
| Total equity and liabilities | 10/49 | €75,889 | €147,440 | +€71,550 | +94.3% |
| Equity | 10/15 | €36,837 | €109,850 | +€73,013 | +198.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €34,337 | €107,350 | +€73,013 | +212.6% |
| Distributable reserves | 133 | €34,337 | €107,350 | +€73,013 | +212.6% |
| Amounts payable | 17/49 | €39,052 | €37,590 | -€1,463 | -3.7% |
| Amounts payable within one year | 42/48 | €39,052 | €37,590 | -€1,463 | -3.7% |
| Trade debts | 44 | €2,081 | €2,728 | +€647 | +31.1% |
| Suppliers | 440/4 | €2,081 | €2,728 | +€647 | +31.1% |
| Taxes, remuneration and social security | 45 | €16,803 | €32,043 | +€15,240 | +90.7% |
| Taxes | 450/3 | €16,803 | €32,043 | +€15,240 | +90.7% |
| Other amounts payable | 47/48 | €20,168 | €2,819 | -€17,349 | -86.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,942 | €6,998 | +€3,057 | +77.5% |
| Other operating charges | 640/8 | €18 | €825 | +€807 | +4561.6% |
| Gross operating margin | 9900 | €50,600 | €109,110 | +€58,509 | +115.6% |
| Operating profit (loss) | 9901 | €46,641 | €101,286 | +€54,645 | +117.2% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €3,341 | €3,225 | -€116 | -3.5% |
| Recurring financial charges | 65 | €3,341 | €3,225 | -€116 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €43,320 | €98,062 | +€54,741 | +126.4% |
| Income taxes | 67/77 | €8,983 | €25,049 | +€16,065 | +178.8% |
| Profit (loss) for the period | 9904 | €34,337 | €73,013 | +€38,676 | +112.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,337 | €73,013 | +€38,676 | +112.6% |
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 12 October 2026 via checked.be.