SAFAL: 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.
SAFAL
Largest movements
- Receivables within one year -€6,885
down €6,885 (-75.1%), from €9,168 to €2,283
of which Trade receivables: -€6,544
- Tangible fixed assets -€6,427
down €6,427 (-19.9%), from €32,343 to €25,916
of which Plant, machinery and equipment: -€5,038
- Cash +€2,759
up €2,759 (+16.8%), from €16,405 to €19,164
mainly Trade debts (+€13,592) and Tax, wage and social debts (+€8,414)
- Reserves -€26,024
no longer reported in 2025 (was €26,024)
- Trade debts +€13,592
up €13,592 (+301%), from €4,513 to €18,105
- Tax, wage and social debts +€8,414
up €8,414 (+43.9%), from €19,167 to €27,581
of which Remuneration and social security: +€16,135
- Profit (loss) carried forward -€6,014
new in 2025: -€6,014
- Staff costs +€58,632
up €58,632 (+77.5%), from €75,634 to €134,266
- Taxes -€5,893
down €5,893 (-96.4%), from €6,115 to €222
- Gross operating margin +€4,122
up €4,122 (+3.8%), from €108,260 to €112,382
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 | €70,204 | €60,142 | -€10,061 | -14.3% |
| Fixed assets | 21/28 | €36,393 | €29,966 | -€6,427 | -17.7% |
| Tangible fixed assets | 22/27 | €32,343 | €25,916 | -€6,427 | -19.9% |
| Plant, machinery and equipment | 23 | €29,388 | €24,350 | -€5,038 | -17.1% |
| Furniture and vehicles | 24 | €2,955 | €1,566 | -€1,389 | -47.0% |
| Financial fixed assets | 28 | €4,050 | €4,050 | = | 0.0% |
| Current assets | 29/58 | €33,811 | €30,176 | -€3,634 | -10.7% |
| Stocks and contracts in progress | 3 | €8,238 | €8,730 | +€492 | +6.0% |
| Stocks | 30/36 | €8,238 | €8,730 | +€492 | +6.0% |
| Amounts receivable within one year | 40/41 | €9,168 | €2,283 | -€6,885 | -75.1% |
| Trade receivables | 40 | €8,747 | €2,203 | -€6,544 | -74.8% |
| Other amounts receivable | 41 | €421 | €80 | -€341 | -81.0% |
| Cash at bank and in hand | 54/58 | €16,405 | €19,164 | +€2,759 | +16.8% |
| Total equity and liabilities | 10/49 | €70,204 | €60,142 | -€10,061 | -14.3% |
| Equity | 10/15 | €46,024 | €13,986 | -€32,039 | -69.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €26,024 | - | -€26,024 | |
| Distributable reserves | 133 | €26,024 | - | -€26,024 | |
| Profit (loss) carried forward | 14 | - | -€6,014 | -€6,014 | |
| Amounts payable | 17/49 | €24,179 | €46,157 | +€21,977 | +90.9% |
| Amounts payable within one year | 42/48 | €24,179 | €46,157 | +€21,977 | +90.9% |
| Trade debts | 44 | €4,513 | €18,105 | +€13,592 | +301% |
| Suppliers | 440/4 | €4,513 | €18,105 | +€13,592 | +301% |
| Taxes, remuneration and social security | 45 | €19,167 | €27,581 | +€8,414 | +43.9% |
| Taxes | 450/3 | €7,944 | €222 | -€7,721 | -97.2% |
| Remuneration and social security | 454/9 | €11,224 | €27,359 | +€16,135 | +144% |
| Other amounts payable | 47/48 | €499 | €470 | -€29 | -5.7% |
| Remuneration, social security and pensions | 62 | €75,634 | €134,266 | +€58,632 | +77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,427 | €6,427 | = | 0.0% |
| Other operating charges | 640/8 | €980 | €2,099 | +€1,119 | +114% |
| Gross operating margin | 9900 | €108,260 | €112,382 | +€4,122 | +3.8% |
| Operating profit (loss) | 9901 | €25,218 | -€30,410 | -€55,628 | |
| Financial income | 75/76B | €3 | €29 | +€26 | +779% |
| Recurring financial income | 75 | €3 | €29 | +€26 | +779% |
| Financial charges | 65/66B | €641 | €1,435 | +€794 | +124% |
| Recurring financial charges | 65 | €641 | €663 | +€22 | +3.4% |
| Non-recurring financial charges | 66B | - | €772 | +€772 | |
| Profit (loss) for the period before taxes | 9903 | €24,581 | -€31,816 | -€56,397 | |
| Income taxes | 67/77 | €6,115 | €222 | -€5,893 | -96.4% |
| Profit (loss) for the period | 9904 | €18,466 | -€32,039 | -€50,504 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,466 | -€32,039 | -€50,504 |
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 27 October 2026 via checked.be.