SAFE BELGIUM: 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.
SAFE BELGIUM
Largest movements
- Receivables within one year +€476,160
up €476,160 (+57.1%), from €834,139 to €1.3m
- Deferred charges and accrued income +€172,839
up €172,839 (+753%), from €22,952 to €195,791
- Other debts +€328,448
up €328,448 (+65.2%), from €503,471 to €831,919
- Trade debts +€233,107
up €233,107 (+1,068%), from €21,830 to €254,937
- Tax, wage and social debts +€46,570
up €46,570 (+74.6%), from €62,443 to €109,013
of which Taxes: +€52,959
- Reserves +€35,628
up €35,628 (+13.8%), from €257,697 to €293,324
of which Distributable reserves: +€35,628
- Gross operating margin +€513,176
up €513,176 (+187%), from €273,765 to €786,941
- Staff costs +€450,206
up €450,206 (+209%), from €215,436 to €665,642
- Taxes +€17,100
up €17,100 (+427%), from €4,005 to €21,105
- Financial charges +€11,344
up €11,344 (+646%), from €1,756 to €13,100
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 | €857,841 | €1,511,972 | +€654,131 | +76.3% |
| Fixed assets | 21/28 | €750 | €5,882 | +€5,132 | +684% |
| Tangible fixed assets | 22/27 | €0 | €5,132 | +€5,132 | |
| Plant, machinery and equipment | 23 | - | €5,132 | +€5,132 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €857,091 | €1,506,090 | +€648,999 | +75.7% |
| Amounts receivable within one year | 40/41 | €834,139 | €1,310,299 | +€476,160 | +57.1% |
| Trade receivables | 40 | €834,139 | €1,310,299 | +€476,160 | +57.1% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €22,952 | €195,791 | +€172,839 | +753% |
| Total equity and liabilities | 10/49 | €857,841 | €1,511,972 | +€654,131 | +76.3% |
| Equity | 10/15 | €270,097 | €305,724 | +€35,628 | +13.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €257,697 | €293,324 | +€35,628 | +13.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €257,697 | €293,324 | +€35,628 | +13.8% |
| Amounts payable | 17/49 | €587,744 | €1,206,247 | +€618,503 | +105% |
| Amounts payable within one year | 42/48 | €587,744 | €1,195,869 | +€608,125 | +103% |
| Trade debts | 44 | €21,830 | €254,937 | +€233,107 | +1,068% |
| Suppliers | 440/4 | €21,830 | €254,937 | +€233,107 | +1,068% |
| Taxes, remuneration and social security | 45 | €62,443 | €109,013 | +€46,570 | +74.6% |
| Taxes | 450/3 | €37,721 | €90,680 | +€52,959 | +140% |
| Remuneration and social security | 454/9 | €24,722 | €18,333 | -€6,390 | -25.8% |
| Other amounts payable | 47/48 | €503,471 | €831,919 | +€328,448 | +65.2% |
| Accrued charges and deferred income | 492/3 | - | €10,378 | +€10,378 | |
| Remuneration, social security and pensions | 62 | €215,436 | €665,642 | +€450,206 | +209% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €1,053 | +€1,053 | |
| Other operating charges | 640/8 | €8,348 | €4,514 | -€3,834 | -45.9% |
| Non-recurring operating charges | 66A | - | €45,900 | +€45,900 | |
| Gross operating margin | 9900 | €273,765 | €786,941 | +€513,176 | +187% |
| Operating profit (loss) | 9901 | €49,982 | €69,832 | +€19,851 | +39.7% |
| Financial charges | 65/66B | €1,756 | €13,100 | +€11,344 | +646% |
| Recurring financial charges | 65 | €1,756 | €13,100 | +€11,344 | +646% |
| Profit (loss) for the period before taxes | 9903 | €48,225 | €56,732 | +€8,507 | +17.6% |
| Income taxes | 67/77 | €4,005 | €21,105 | +€17,100 | +427% |
| Profit (loss) for the period | 9904 | €44,221 | €35,628 | -€8,593 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,221 | €35,628 | -€8,593 | -19.4% |
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.