SAF & CO: 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.
SAF & CO
Largest movements
- Receivables within one year +€17,655
up €17,655 (+401%), from €4,407 to €22,061
- Stocks and contracts -€4,307
down €4,307 (-15.2%), from €28,307 to €24,000
- Cash -€1,273
down €1,273 (-94.1%), from €1,353 to €80
- Profit (loss) carried forward -€22,605
down €22,605 (-106%), from -€21,379 to -€43,985
- Advances received +€18,622
up €18,622 (+7,004%), from €266 to €18,888
- Other debts +€14,574
up €14,574 (+42.8%), from €34,082 to €48,656
- Tax, wage and social debts +€822
up €822 (+69.3%), from €1,185 to €2,007
- Trade debts +€662
up €662 (+7.6%), from €8,712 to €9,375
- Purchases and services +€27,287
up €27,287 (+56.7%), from €48,146 to €75,433
- Gross operating margin -€18,350
down €18,350 (-1,349%), from -€1,360 to -€19,711
- Turnover +€8,936
up €8,936 (+19.1%), from €46,786 to €55,722
From the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,067 | €46,141 | +€12,075 | +35.4% |
| Current assets | 29/58 | €34,067 | €46,141 | +€12,075 | +35.4% |
| Stocks and contracts in progress | 3 | €28,307 | €24,000 | -€4,307 | -15.2% |
| Stocks | 30/36 | €28,307 | €24,000 | -€4,307 | -15.2% |
| Amounts receivable within one year | 40/41 | €4,407 | €22,061 | +€17,655 | +401% |
| Trade receivables | 40 | €4,407 | €22,061 | +€17,655 | +401% |
| Cash at bank and in hand | 54/58 | €1,353 | €80 | -€1,273 | -94.1% |
| Total equity and liabilities | 10/49 | €34,067 | €46,141 | +€12,075 | +35.4% |
| Equity | 10/15 | -€10,179 | -€32,785 | -€22,605 | -222% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Contributions outside capital | 11 | - | €11,200 | +€11,200 | |
| Share premium | 1100/10 | - | €11,200 | +€11,200 | |
| Profit (loss) carried forward | 14 | -€21,379 | -€43,985 | -€22,605 | -106% |
| Amounts payable | 17/49 | €44,246 | €78,926 | +€34,680 | +78.4% |
| Amounts payable within one year | 42/48 | €44,246 | €78,926 | +€34,680 | +78.4% |
| Trade debts | 44 | €8,712 | €9,375 | +€662 | +7.6% |
| Suppliers | 440/4 | €8,712 | €9,375 | +€662 | +7.6% |
| Advances received on contracts in progress | 46 | €266 | €18,888 | +€18,622 | +7,004% |
| Taxes, remuneration and social security | 45 | €1,185 | €2,007 | +€822 | +69.3% |
| Taxes | 450/3 | €1,185 | €2,007 | +€822 | +69.3% |
| Other amounts payable | 47/48 | €34,082 | €48,656 | +€14,574 | +42.8% |
| Turnover | 70 | €46,786 | €55,722 | +€8,936 | +19.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €48,146 | €75,433 | +€27,287 | +56.7% |
| Other operating charges | 640/8 | €1,065 | €1,123 | +€58 | +5.5% |
| Non-recurring operating charges | 66A | €251 | €229 | -€22 | -8.8% |
| Gross operating margin | 9900 | -€1,360 | -€19,711 | -€18,350 | -1,349% |
| Operating profit (loss) | 9901 | -€2,676 | -€21,063 | -€18,386 | -687% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €457 | €182 | -€274 | -60.0% |
| Recurring financial charges | 65 | €457 | €182 | -€274 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,133 | -€21,245 | -€18,112 | -578% |
| Profit (loss) for the period | 9904 | -€3,133 | -€21,245 | -€18,112 | -578% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,133 | -€21,245 | -€18,112 | -578% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.