IMMO SAFIA: 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.
What changed
IMMO SAFIA
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€15,385
2024 · €10,549+€4,836
Equity
€415,096
2024 · €399,711+€15,385
Cash
€12,836
2024 · €14,823-€1,987
Balance sheet total
€796,454
2024 · €850,901-€54,447
Largest movements
Assets
- Tangible fixed assets -€52,506
down €52,506 (-6.3%), from €831,071 to €778,565
of which Land and buildings: -€32,995
Equity and liabilities
- Debts after one year -€69,133
down €69,133 (-27.8%), from €248,917 to €179,784
of which Financial debts: -€70,533
- Profit (loss) carried forward +€16,300
up €16,300 (+22.0%), from €74,150 to €90,450
Income statement
- Gross operating margin +€8,306
up €8,306 (+9.0%), from €92,361 to €100,667
- Taxes +€3,512
up €3,512 (+61.1%), from €5,748 to €9,260
- Financial charges -€1,219
down €1,219 (-15.5%), from €7,862 to €6,644
- Other operating charges +€1,178
up €1,178 (+7.3%), from €16,167 to €17,345
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.
Result 2024
€10,549
Gross operating margin
+€8,306
Other operating charges
-€1,178
Financial income
+€1
Financial charges
+€1,219
Taxes
-€3,512
Result 2025
€15,385
raises the resultlowers the result
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.
From operations
+€66,758
Investment
€0
Financing
-€68,744
Cash 2024
€14,823
From operations (derived)
+€66,758
Net result for the year
+€15,385
Depreciation
+€52,506
Smaller working-capital items
-€45
Provisions
-€471
Trade debts
-€2,302
Tax, wage and social debts
+€7,360
Other debts
-€5,675
Financing
-€68,744
Debts after one year
-€69,133
Current portion of long-term debt
+€389
Cash 2025
€12,836
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €850,901 | €796,454 | -€54,447 | -6.4% |
| Fixed assets | 21/28 | €833,793 | €781,287 | -€52,506 | -6.3% |
| Tangible fixed assets | 22/27 | €831,071 | €778,565 | -€52,506 | -6.3% |
| Land and buildings | 22 | €770,435 | €737,440 | -€32,995 | -4.3% |
| Plant, machinery and equipment | 23 | €1,577 | €1,208 | -€369 | -23.4% |
| Furniture and vehicles | 24 | €17,438 | €7,838 | -€9,600 | -55.1% |
| Other tangible fixed assets | 26 | €41,621 | €32,079 | -€9,542 | -22.9% |
| Financial fixed assets | 28 | €2,722 | €2,722 | = | 0.0% |
| Current assets | 29/58 | €17,108 | €15,167 | -€1,942 | -11.3% |
| Amounts receivable within one year | 40/41 | €2,097 | €2,010 | -€87 | -4.1% |
| Trade receivables | 40 | €1,075 | €114 | -€962 | -89.4% |
| Other amounts receivable | 41 | €1,021 | €1,896 | +€875 | +85.7% |
| Cash at bank and in hand | 54/58 | €14,823 | €12,836 | -€1,987 | -13.4% |
| Deferred charges and accrued income | 490/1 | €189 | €320 | +€132 | +69.8% |
| Total equity and liabilities | 10/49 | €850,901 | €796,454 | -€54,447 | -6.4% |
| Equity | 10/15 | €399,711 | €415,096 | +€15,385 | +3.8% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €25,561 | €24,646 | -€915 | -3.6% |
| Non-distributable reserves | 130/1 | €1,247 | €1,247 | = | 0.0% |
| Legal reserve | 130 | €1,247 | €1,247 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,314 | €23,399 | -€915 | -3.8% |
| Profit (loss) carried forward | 14 | €74,150 | €90,450 | +€16,300 | +22.0% |
| Provisions and deferred taxes | 16 | €12,520 | €12,049 | -€471 | -3.8% |
| Deferred taxes | 168 | €12,520 | €12,049 | -€471 | -3.8% |
| Amounts payable | 17/49 | €438,670 | €369,309 | -€69,361 | -15.8% |
| Amounts payable after more than one year | 17 | €248,917 | €179,784 | -€69,133 | -27.8% |
| Financial debts | 170/4 | €242,807 | €172,274 | -€70,533 | -29.0% |
| Other amounts payable | 178/9 | €6,110 | €7,510 | +€1,400 | +22.9% |
| Amounts payable within one year | 42/48 | €189,753 | €189,524 | -€228 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €70,870 | €71,259 | +€389 | +0.5% |
| Trade debts | 44 | €18,801 | €16,499 | -€2,302 | -12.2% |
| Suppliers | 440/4 | €18,801 | €16,499 | -€2,302 | -12.2% |
| Taxes, remuneration and social security | 45 | €3,698 | €11,058 | +€7,360 | +199% |
| Taxes | 450/3 | €3,248 | €10,008 | +€6,760 | +208% |
| Remuneration and social security | 454/9 | €450 | €1,050 | +€600 | +133% |
| Other amounts payable | 47/48 | €96,383 | €90,709 | -€5,675 | -5.9% |
| Non-recurring operating income | 76A | - | €442 | +€442 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,506 | €52,506 | = | 0.0% |
| Other operating charges | 640/8 | €16,167 | €17,345 | +€1,178 | +7.3% |
| Gross operating margin | 9900 | €92,361 | €100,667 | +€8,306 | +9.0% |
| Operating profit (loss) | 9901 | €23,689 | €30,817 | +€7,128 | +30.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €7,862 | €6,644 | -€1,219 | -15.5% |
| Recurring financial charges | 65 | €7,862 | €6,644 | -€1,219 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €15,826 | €24,174 | +€8,347 | +52.7% |
| Transfer from deferred taxes | 780 | €471 | €471 | = | 0.0% |
| Income taxes | 67/77 | €5,748 | €9,260 | +€3,512 | +61.1% |
| Profit (loss) for the period | 9904 | €10,549 | €15,385 | +€4,836 | +45.8% |
| Transfer from tax-exempt reserves | 789 | €915 | €915 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,464 | €16,300 | +€4,836 | +42.2% |
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 18 October 2026 via checked.be.