B-SAFE IMMO: 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.
B-SAFE IMMO
Largest movements
- Cash +€31,833
up €31,833 (+40.0%), from €79,627 to €111,460
mainly Net result for the year (+€27,463) and Depreciation (+€25,112)
- Tangible fixed assets -€25,112
down €25,112 (-3.6%), from €697,226 to €672,114
of which Land and buildings: -€22,901
- Receivables within one year +€12,974
up €12,974 (+161.6%), from €8,031 to €21,005
- Profit (loss) carried forward +€27,463
up €27,463 (+35.9%), from €76,454 to €103,917
- Debts after one year -€17,325
down €17,325 (-4.9%), from €351,253 to €333,928
- Other debts +€12,129
new in 2025: €12,129
- Gross operating margin -€3,847
down €3,847 (-4.9%), from €78,534 to €74,687
- Taxes -€1,018
down €1,018 (-10.0%), from €10,172 to €9,154
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 | €784,884 | €805,150 | +€20,266 | +2.6% |
| Fixed assets | 21/28 | €697,226 | €672,114 | -€25,112 | -3.6% |
| Tangible fixed assets | 22/27 | €697,226 | €672,114 | -€25,112 | -3.6% |
| Land and buildings | 22 | €680,691 | €657,790 | -€22,901 | -3.4% |
| Plant, machinery and equipment | 23 | €16,535 | €14,324 | -€2,211 | -13.4% |
| Current assets | 29/58 | €87,658 | €133,036 | +€45,378 | +51.8% |
| Amounts receivable within one year | 40/41 | €8,031 | €21,005 | +€12,974 | +161.6% |
| Other amounts receivable | 41 | €8,031 | €21,005 | +€12,974 | +161.6% |
| Cash at bank and in hand | 54/58 | €79,627 | €111,460 | +€31,833 | +40.0% |
| Deferred charges and accrued income | 490/1 | - | €571 | +€571 | |
| Total equity and liabilities | 10/49 | €784,884 | €805,150 | +€20,266 | +2.6% |
| Equity | 10/15 | €411,408 | €438,871 | +€27,463 | +6.7% |
| Contributions | 10/11 | €334,954 | €334,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,454 | €103,917 | +€27,463 | +35.9% |
| Amounts payable | 17/49 | €373,476 | €366,278 | -€7,197 | -1.9% |
| Amounts payable after more than one year | 17 | €351,253 | €333,928 | -€17,325 | -4.9% |
| Financial debts | 170/4 | €351,253 | €333,928 | -€17,325 | -4.9% |
| Amounts payable within one year | 42/48 | €19,723 | €29,850 | +€10,127 | +51.3% |
| Current portion of amounts payable after more than one year | 42 | €16,982 | €17,325 | +€343 | +2.0% |
| Trade debts | 44 | €2,569 | €397 | -€2,172 | -84.5% |
| Suppliers | 440/4 | €2,569 | €397 | -€2,172 | -84.5% |
| Taxes, remuneration and social security | 45 | €172 | €0 | -€172 | -100.0% |
| Taxes | 450/3 | €172 | €0 | -€172 | -100.0% |
| Other amounts payable | 47/48 | - | €12,129 | +€12,129 | |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,112 | €25,112 | = | 0.0% |
| Other operating charges | 640/8 | €5,476 | €5,620 | +€144 | +2.6% |
| Gross operating margin | 9900 | €78,534 | €74,687 | -€3,847 | -4.9% |
| Operating profit (loss) | 9901 | €47,945 | €43,954 | -€3,991 | -8.3% |
| Financial charges | 65/66B | €7,681 | €7,337 | -€344 | -4.5% |
| Recurring financial charges | 65 | €7,681 | €7,337 | -€344 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €40,265 | €36,618 | -€3,647 | -9.1% |
| Income taxes | 67/77 | €10,172 | €9,154 | -€1,018 | -10.0% |
| Profit (loss) for the period | 9904 | €30,093 | €27,463 | -€2,629 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,093 | €27,463 | -€2,629 | -8.7% |
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.