e4SAFE: 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.
e4SAFE
Largest movements
- Receivables within one year +€35,455
up €35,455 (+162%), from €21,850 to €57,305
of which Trade receivables: +€29,157
- Cash -€18,404
down €18,404 (-90.2%), from €20,400 to €1,997
mainly Receivables within one year (-€35,455) and Debts after one year (-€9,879)
- Tangible fixed assets -€15,604
down €15,604 (-63.9%), from €24,423 to €8,818
- Profit (loss) carried forward +€21,154
up €21,154, from -€16,696 to €4,458
- Debts after one year -€9,879
no longer reported in 2025 (was €9,879)
- Tax, wage and social debts -€4,840
down €4,840 (-23.5%), from €20,638 to €15,798
- Current portion of long-term debt -€4,675
down €4,675 (-32.1%), from €14,553 to €9,879
- Gross operating margin +€21,422
up €21,422 (+91.0%), from €23,540 to €44,961
- Purchases and services -€13,148
down €13,148 (-9.3%), from €141,243 to €128,096
- Turnover +€8,474
up €8,474 (+5.2%), from €161,956 to €170,430
- Taxes +€4,703
up €4,703 (+235%), from €2,000 to €6,703
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.
Derived cash bridge
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 | €66,938 | €68,401 | +€1,463 | +2.2% |
| Fixed assets | 21/28 | €24,423 | €8,818 | -€15,604 | -63.9% |
| Tangible fixed assets | 22/27 | €24,423 | €8,818 | -€15,604 | -63.9% |
| Furniture and vehicles | 24 | €24,423 | €8,818 | -€15,604 | -63.9% |
| Current assets | 29/58 | €42,515 | €59,583 | +€17,068 | +40.1% |
| Amounts receivable within one year | 40/41 | €21,850 | €57,305 | +€35,455 | +162% |
| Trade receivables | 40 | €15,506 | €44,664 | +€29,157 | +188% |
| Other amounts receivable | 41 | €6,344 | €12,642 | +€6,298 | +99.3% |
| Cash at bank and in hand | 54/58 | €20,400 | €1,997 | -€18,404 | -90.2% |
| Deferred charges and accrued income | 490/1 | €265 | €281 | +€17 | +6.3% |
| Total equity and liabilities | 10/49 | €66,938 | €68,401 | +€1,463 | +2.2% |
| Equity | 10/15 | €21,364 | €42,518 | +€21,154 | +99.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,860 | €31,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,696 | €4,458 | +€21,154 | |
| Amounts payable | 17/49 | €45,574 | €25,883 | -€19,691 | -43.2% |
| Amounts payable after more than one year | 17 | €9,879 | - | -€9,879 | |
| Financial debts | 170/4 | €9,879 | - | -€9,879 | |
| Amounts payable within one year | 42/48 | €35,296 | €25,883 | -€9,413 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €14,553 | €9,879 | -€4,675 | -32.1% |
| Trade debts | 44 | €105 | €206 | +€101 | +96.9% |
| Suppliers | 440/4 | €105 | €206 | +€101 | +96.9% |
| Taxes, remuneration and social security | 45 | €20,638 | €15,798 | -€4,840 | -23.5% |
| Taxes | 450/3 | €20,638 | €15,798 | -€4,840 | -23.5% |
| Accrued charges and deferred income | 492/3 | €399 | - | -€399 | |
| Turnover | 70 | €161,956 | €170,430 | +€8,474 | +5.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €141,243 | €128,096 | -€13,148 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,604 | €15,604 | = | 0.0% |
| Other operating charges | 640/8 | €551 | €629 | +€77 | +14.0% |
| Gross operating margin | 9900 | €23,540 | €44,961 | +€21,422 | +91.0% |
| Operating profit (loss) | 9901 | €7,384 | €28,728 | +€21,345 | +289% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €929 | €872 | -€57 | -6.1% |
| Recurring financial charges | 65 | €929 | €872 | -€57 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €6,455 | €27,857 | +€21,401 | +332% |
| Income taxes | 67/77 | €2,000 | €6,703 | +€4,703 | +235% |
| Profit (loss) for the period | 9904 | €4,455 | €21,154 | +€16,699 | +375% |
| Profit (loss) for the period to be appropriated | 9905 | €4,455 | €21,154 | +€16,699 | +375% |
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 22 October 2026 via checked.be.