Satis: 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.
Satis
Largest movements
- Tangible fixed assets +€224,032
up €224,032 (+479.3%), from €46,741 to €270,773
of which Land and buildings: +€248,155
- Receivables within one year +€111,667
up €111,667 (+482.0%), from €23,169 to €134,835
of which Trade receivables: +€104,709
- Cash -€46,595
down €46,595 (-54.5%), from €85,437 to €38,842
mainly Investment in fixed assets (net) (-€254,631) and Receivables within one year (-€111,667)
- Debts after one year +€214,482
new in 2025: €214,482
- Reserves +€26,604
up €26,604 (+24.4%), from €108,877 to €135,481
of which Distributable reserves: +€26,604
- Other debts +€19,371
up €19,371 (+421.0%), from €4,602 to €23,973
- Tax, wage and social debts +€14,401
up €14,401 (+73.6%), from €19,579 to €33,980
of which Remuneration and social security: +€7,595
- Trade debts +€8,368
up €8,368 (+62.9%), from €13,299 to €21,667
- Gross operating margin +€64,709
up €64,709 (+84.0%), from €77,048 to €141,757
- Staff costs +€43,617
new in 2025: €43,617
- Depreciation +€22,724
up €22,724 (+288.6%), from €7,875 to €30,599
- Financial charges +€4,026
up €4,026 (+958.9%), from €420 to €4,446
- Taxes -€3,678
down €3,678 (-15.5%), from €23,720 to €20,042
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 | €161,595 | €450,746 | +€289,151 | +178.9% |
| Fixed assets | 21/28 | €46,741 | €270,773 | +€224,032 | +479.3% |
| Tangible fixed assets | 22/27 | €46,741 | €270,773 | +€224,032 | +479.3% |
| Land and buildings | 22 | €1,526 | €249,681 | +€248,155 | +16262.5% |
| Plant, machinery and equipment | 23 | €196 | €14,346 | +€14,150 | +7209.6% |
| Furniture and vehicles | 24 | €45,019 | €6,746 | -€38,273 | -85.0% |
| Current assets | 29/58 | €114,855 | €179,974 | +€65,119 | +56.7% |
| Stocks and contracts in progress | 3 | €3,886 | €2,904 | -€981 | -25.3% |
| Stocks | 30/36 | €3,886 | €2,904 | -€981 | -25.3% |
| Amounts receivable within one year | 40/41 | €23,169 | €134,835 | +€111,667 | +482.0% |
| Trade receivables | 40 | €21,597 | €126,306 | +€104,709 | +484.8% |
| Other amounts receivable | 41 | €1,571 | €8,529 | +€6,958 | +442.8% |
| Cash at bank and in hand | 54/58 | €85,437 | €38,842 | -€46,595 | -54.5% |
| Deferred charges and accrued income | 490/1 | €2,363 | €3,391 | +€1,028 | +43.5% |
| Total equity and liabilities | 10/49 | €161,595 | €450,746 | +€289,151 | +178.9% |
| Equity | 10/15 | €118,151 | €142,178 | +€24,027 | +20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €108,877 | €135,481 | +€26,604 | +24.4% |
| Non-distributable reserves | 130/1 | €1,270 | €1,270 | = | 0.0% |
| Other | 1319 | €1,270 | €1,270 | = | 0.0% |
| Distributable reserves | 133 | €107,607 | €134,211 | +€26,604 | +24.7% |
| Profit (loss) carried forward | 14 | €3,074 | €497 | -€2,577 | -83.8% |
| Amounts payable | 17/49 | €43,444 | €308,568 | +€265,124 | +610.3% |
| Amounts payable after more than one year | 17 | - | €214,482 | +€214,482 | |
| Financial debts | 170/4 | - | €214,482 | +€214,482 | |
| Amounts payable within one year | 42/48 | €37,480 | €87,903 | +€50,424 | +134.5% |
| Current portion of amounts payable after more than one year | 42 | - | €8,283 | +€8,283 | |
| Trade debts | 44 | €13,299 | €21,667 | +€8,368 | +62.9% |
| Suppliers | 440/4 | €13,299 | €21,667 | +€8,368 | +62.9% |
| Taxes, remuneration and social security | 45 | €19,579 | €33,980 | +€14,401 | +73.6% |
| Taxes | 450/3 | €18,806 | €25,612 | +€6,806 | +36.2% |
| Remuneration and social security | 454/9 | €773 | €8,368 | +€7,595 | +982.5% |
| Other amounts payable | 47/48 | €4,602 | €23,973 | +€19,371 | +421.0% |
| Accrued charges and deferred income | 492/3 | €5,965 | €6,183 | +€218 | +3.7% |
| Non-recurring operating income | 76A | - | €10,182 | +€10,182 | |
| Remuneration, social security and pensions | 62 | - | €43,617 | +€43,617 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,875 | €30,599 | +€22,724 | +288.6% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €77,048 | €141,757 | +€64,709 | +84.0% |
| Operating profit (loss) | 9901 | €68,604 | €66,956 | -€1,649 | -2.4% |
| Financial income | 75/76B | €0 | €12 | +€12 | +121600.0% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +121600.0% |
| Financial charges | 65/66B | €420 | €4,446 | +€4,026 | +958.9% |
| Recurring financial charges | 65 | €420 | €4,446 | +€4,026 | +958.9% |
| Profit (loss) for the period before taxes | 9903 | €68,185 | €62,522 | -€5,663 | -8.3% |
| Income taxes | 67/77 | €23,720 | €20,042 | -€3,678 | -15.5% |
| Profit (loss) for the period | 9904 | €44,465 | €42,480 | -€1,985 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,465 | €42,480 | -€1,985 | -4.5% |
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 9 October 2026 via checked.be.