SAFADEUSA: 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.
SAFADEUSA
Largest movements
- Tangible fixed assets -€13,630
down €13,630 (-25.8%), from €52,783 to €39,152
of which Plant, machinery and equipment: -€6,908
- Receivables within one year -€1,495
down €1,495 (-17.6%), from €8,476 to €6,981
- Cash -€884
down €884 (-74.4%), from €1,188 to €304
mainly Other debts (-€11,466) and Debts after one year (-€5,103)
- Other debts -€11,466
down €11,466 (-79.1%), from €14,498 to €3,032
- Debts after one year -€5,103
down €5,103 (-40.3%), from €12,664 to €7,561
- Gross operating margin -€8,338
down €8,338 (-33.8%), from €24,673 to €16,335
- Depreciation -€1,167
down €1,167 (-7.3%), from €15,881 to €14,714
- Financial charges -€1,082
down €1,082 (-53.2%), from €2,032 to €950
- Taxes +€688
new in 2025: €688
- Other operating charges -€629
down €629 (-49.0%), from €1,283 to €654
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 | €70,553 | €54,347 | -€16,206 | -23.0% |
| Formation expenses | 20 | €606 | €410 | -€197 | -32.4% |
| Fixed assets | 21/28 | €52,783 | €39,152 | -€13,630 | -25.8% |
| Tangible fixed assets | 22/27 | €52,783 | €39,152 | -€13,630 | -25.8% |
| Land and buildings | 22 | €12,510 | €9,459 | -€3,052 | -24.4% |
| Plant, machinery and equipment | 23 | €26,893 | €19,984 | -€6,908 | -25.7% |
| Furniture and vehicles | 24 | €13,380 | €9,710 | -€3,670 | -27.4% |
| Current assets | 29/58 | €17,164 | €14,785 | -€2,379 | -13.9% |
| Amounts receivable after more than one year | 29 | €7,500 | €7,500 | = | 0.0% |
| Other amounts receivable | 291 | €7,500 | €7,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,476 | €6,981 | -€1,495 | -17.6% |
| Trade receivables | 40 | €8,476 | €6,981 | -€1,495 | -17.6% |
| Cash at bank and in hand | 54/58 | €1,188 | €304 | -€884 | -74.4% |
| Total equity and liabilities | 10/49 | €70,553 | €54,347 | -€16,206 | -23.0% |
| Equity | 10/15 | €25,141 | €24,470 | -€671 | -2.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Profit (loss) carried forward | 14 | €5,141 | €4,470 | -€671 | -13.1% |
| Amounts payable | 17/49 | €45,412 | €29,877 | -€15,535 | -34.2% |
| Amounts payable after more than one year | 17 | €12,664 | €7,561 | -€5,103 | -40.3% |
| Financial debts | 170/4 | €12,664 | €7,561 | -€5,103 | -40.3% |
| Amounts payable within one year | 42/48 | €32,748 | €22,316 | -€10,433 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €4,916 | €5,103 | +€186 | +3.8% |
| Trade debts | 44 | €13,024 | €13,213 | +€190 | +1.5% |
| Suppliers | 440/4 | €13,024 | €13,213 | +€190 | +1.5% |
| Taxes, remuneration and social security | 45 | €310 | €968 | +€657 | +212% |
| Taxes | 450/3 | €310 | €968 | +€657 | +212% |
| Other amounts payable | 47/48 | €14,498 | €3,032 | -€11,466 | -79.1% |
| Remuneration, social security and pensions | 62 | €337 | - | -€337 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,881 | €14,714 | -€1,167 | -7.3% |
| Other operating charges | 640/8 | €1,283 | €654 | -€629 | -49.0% |
| Gross operating margin | 9900 | €24,673 | €16,335 | -€8,338 | -33.8% |
| Operating profit (loss) | 9901 | €7,173 | €967 | -€6,206 | -86.5% |
| Financial charges | 65/66B | €2,032 | €950 | -€1,082 | -53.2% |
| Recurring financial charges | 65 | €2,032 | €950 | -€1,082 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €5,141 | €17 | -€5,124 | -99.7% |
| Income taxes | 67/77 | - | €688 | +€688 | |
| Profit (loss) for the period | 9904 | €5,141 | -€671 | -€5,812 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,141 | -€671 | -€5,812 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.