SATURNUS: 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.
SATURNUS
Largest movements
- Cash -€12,236
down €12,236 (-33.1%), from €36,936 to €24,701
mainly Net result for the year (-€18,348) and Deferred charges and accrued income (-€549)
- Profit (loss) carried forward -€14,019
new in 2025: -€14,019
- Gross operating margin -€56,253
down €56,253, from €39,970 to -€16,283
- Taxes -€11,994
no longer reported in 2025 (was €11,994)
- Financial income -€7,688
down €7,688 (-49.4%), from €15,558 to €7,870
- Depreciation +€814
up €814 (+403.4%), from €202 to €1,015
- Other operating charges -€490
down €490 (-48.5%), from €1,010 to €520
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 | €579,771 | €561,495 | -€18,276 | -3.2% |
| Fixed assets | 21/28 | €31,042 | €30,027 | -€1,015 | -3.3% |
| Tangible fixed assets | 22/27 | €30,292 | €29,277 | -€1,015 | -3.4% |
| Land and buildings | 22 | €30,292 | €29,277 | -€1,015 | -3.4% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €548,729 | €531,468 | -€17,260 | -3.1% |
| Amounts receivable within one year | 40/41 | €10,441 | €4,867 | -€5,573 | -53.4% |
| Other amounts receivable | 41 | €10,441 | €4,867 | -€5,573 | -53.4% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,936 | €24,701 | -€12,236 | -33.1% |
| Deferred charges and accrued income | 490/1 | €1,352 | €1,901 | +€549 | +40.6% |
| Total equity and liabilities | 10/49 | €579,771 | €561,495 | -€18,276 | -3.2% |
| Equity | 10/15 | €371,477 | €353,130 | -€18,348 | -4.9% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €231,477 | €227,148 | -€4,329 | -1.9% |
| Distributable reserves | 133 | €231,477 | €227,148 | -€4,329 | -1.9% |
| Profit (loss) carried forward | 14 | - | -€14,019 | -€14,019 | |
| Amounts payable | 17/49 | €208,294 | €208,366 | +€72 | 0.0% |
| Amounts payable within one year | 42/48 | €201,368 | €201,440 | +€72 | 0.0% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Other loans | 439 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €545 | €650 | +€106 | +19.4% |
| Suppliers | 440/4 | €545 | €650 | +€106 | +19.4% |
| Other amounts payable | 47/48 | €823 | €789 | -€34 | -4.1% |
| Accrued charges and deferred income | 492/3 | €6,926 | €6,926 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202 | €1,015 | +€814 | +403.4% |
| Other operating charges | 640/8 | €1,010 | €520 | -€490 | -48.5% |
| Gross operating margin | 9900 | €39,970 | -€16,283 | -€56,253 | |
| Operating profit (loss) | 9901 | €38,758 | -€17,818 | -€56,577 | |
| Financial income | 75/76B | €15,558 | €7,870 | -€7,688 | -49.4% |
| Recurring financial income | 75 | €15,558 | €7,870 | -€7,688 | -49.4% |
| Financial charges | 65/66B | €8,308 | €8,400 | +€91 | +1.1% |
| Recurring financial charges | 65 | €8,308 | €8,400 | +€91 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €46,008 | -€18,348 | -€64,356 | |
| Income taxes | 67/77 | €11,994 | - | -€11,994 | |
| Profit (loss) for the period | 9904 | €34,015 | -€18,348 | -€52,362 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,015 | -€18,348 | -€52,362 |
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 9 October 2026 via checked.be.