SATIMAX: 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.
SATIMAX
Largest movements
- Cash -€2,996
down €2,996 (-43.0%), from €6,962 to €3,967
mainly Receivables within one year (-€2,241) and Trade debts (-€1,433)
- Receivables within one year +€2,241
up €2,241 (+29098.2%), from €8 to €2,248
of which Trade receivables: +€2,248
- Tangible fixed assets -€1,257
down €1,257 (-36.8%), from €3,418 to €2,162
of which Plant, machinery and equipment: -€771
- Deferred charges and accrued income +€629
up €629 (+25.9%), from €2,427 to €3,056
- Trade debts -€1,433
down €1,433 (-92.5%), from €1,550 to €117
- Tax, wage and social debts +€223
up €223 (+111.9%), from €199 to €422
- Profit (loss) carried forward -€173
down €173 (-1.4%), from -€12,133 to -€12,307
- Gross operating margin +€4,417
up €4,417, from -€1,308 to €3,109
- Depreciation -€552
down €552 (-21.0%), from €2,634 to €2,082
- Taxes +€220
up €220 (+109.8%), from €200 to €420
- Other operating charges -€182
down €182 (-21.0%), from €869 to €687
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,816 | €11,432 | -€1,383 | -10.8% |
| Fixed assets | 21/28 | €3,418 | €2,162 | -€1,257 | -36.8% |
| Tangible fixed assets | 22/27 | €3,418 | €2,162 | -€1,257 | -36.8% |
| Plant, machinery and equipment | 23 | €1,168 | €397 | -€771 | -66.0% |
| Furniture and vehicles | 24 | €2,250 | €1,764 | -€486 | -21.6% |
| Current assets | 29/58 | €9,397 | €9,271 | -€127 | -1.3% |
| Amounts receivable within one year | 40/41 | €8 | €2,248 | +€2,241 | +29098.2% |
| Trade receivables | 40 | - | €2,248 | +€2,248 | |
| Other amounts receivable | 41 | €8 | - | -€8 | |
| Cash at bank and in hand | 54/58 | €6,962 | €3,967 | -€2,996 | -43.0% |
| Deferred charges and accrued income | 490/1 | €2,427 | €3,056 | +€629 | +25.9% |
| Total equity and liabilities | 10/49 | €12,816 | €11,432 | -€1,383 | -10.8% |
| Equity | 10/15 | €11,067 | €10,893 | -€173 | -1.6% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €10,700 | €10,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €700 | €700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €700 | €700 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,133 | -€12,307 | -€173 | -1.4% |
| Amounts payable | 17/49 | €1,749 | €539 | -€1,210 | -69.2% |
| Amounts payable within one year | 42/48 | €1,749 | €539 | -€1,210 | -69.2% |
| Trade debts | 44 | €1,550 | €117 | -€1,433 | -92.5% |
| Suppliers | 440/4 | €1,550 | €117 | -€1,433 | -92.5% |
| Taxes, remuneration and social security | 45 | €199 | €422 | +€223 | +111.9% |
| Taxes | 450/3 | €199 | €422 | +€223 | +111.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,634 | €2,082 | -€552 | -21.0% |
| Other operating charges | 640/8 | €869 | €687 | -€182 | -21.0% |
| Gross operating margin | 9900 | -€1,308 | €3,109 | +€4,417 | |
| Operating profit (loss) | 9901 | -€4,812 | €340 | +€5,151 | |
| Financial income | 75/76B | €4 | €1 | -€3 | -85.9% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -85.9% |
| Financial charges | 65/66B | €95 | €93 | -€2 | -2.6% |
| Recurring financial charges | 65 | €95 | €93 | -€2 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,903 | €247 | +€5,150 | |
| Income taxes | 67/77 | €200 | €420 | +€220 | +109.8% |
| Profit (loss) for the period | 9904 | -€5,103 | -€173 | +€4,930 | +96.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,103 | -€173 | +€4,930 | +96.6% |
Source: filed annual accounts (NBB), fiscal years ended 1 January 2025 and 1 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.