SAFE & BOLD: 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 & BOLD
Largest movements
- Cash +€51,482
up €51,482 (+54.3%), from €94,854 to €146,336
mainly Net result for the year (+€65,859) and Tax, wage and social debts (+€15,388)
- Receivables within one year +€29,580
up €29,580 (+127333.5%), from €23 to €29,603
of which Trade receivables: +€29,079
- Profit (loss) carried forward +€65,859
up €65,859 (+103.5%), from €63,651 to €129,510
- Tax, wage and social debts +€15,388
up €15,388 (+60.3%), from €25,513 to €40,902
- Gross operating margin +€2,590
up €2,590 (+3.2%), from €79,905 to €82,495
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.
Cash bridge derived
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 | €95,268 | €176,216 | +€80,948 | +85.0% |
| Fixed assets | 21/28 | €351 | €277 | -€74 | -21.0% |
| Tangible fixed assets | 22/27 | €294 | €221 | -€74 | -25.0% |
| Furniture and vehicles | 24 | €294 | €221 | -€74 | -25.0% |
| Financial fixed assets | 28 | €57 | €57 | = | 0.0% |
| Current assets | 29/58 | €94,917 | €175,938 | +€81,022 | +85.4% |
| Amounts receivable within one year | 40/41 | €23 | €29,603 | +€29,580 | +127333.5% |
| Trade receivables | 40 | €23 | €29,102 | +€29,079 | +125177.4% |
| Other amounts receivable | 41 | - | €501 | +€501 | |
| Cash at bank and in hand | 54/58 | €94,854 | €146,336 | +€51,482 | +54.3% |
| Deferred charges and accrued income | 490/1 | €40 | - | -€40 | |
| Total equity and liabilities | 10/49 | €95,268 | €176,216 | +€80,948 | +85.0% |
| Equity | 10/15 | €64,651 | €130,510 | +€65,859 | +101.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,651 | €129,510 | +€65,859 | +103.5% |
| Amounts payable | 17/49 | €30,616 | €45,705 | +€15,089 | +49.3% |
| Amounts payable within one year | 42/48 | €30,616 | €45,705 | +€15,089 | +49.3% |
| Trade debts | 44 | €4,561 | €3,219 | -€1,342 | -29.4% |
| Suppliers | 440/4 | €4,561 | €3,219 | -€1,342 | -29.4% |
| Taxes, remuneration and social security | 45 | €25,513 | €40,902 | +€15,388 | +60.3% |
| Remuneration and social security | 454/9 | €25,513 | €40,902 | +€15,388 | +60.3% |
| Other amounts payable | 47/48 | €541 | €1,584 | +€1,043 | +192.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €74 | +€74 | |
| Other operating charges | 640/8 | - | €35 | +€35 | |
| Gross operating margin | 9900 | €79,905 | €82,495 | +€2,590 | +3.2% |
| Operating profit (loss) | 9901 | €79,905 | €82,386 | +€2,481 | +3.1% |
| Financial charges | 65/66B | €253 | €77 | -€177 | -69.7% |
| Recurring financial charges | 65 | €253 | €77 | -€177 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | €79,651 | €82,309 | +€2,658 | +3.3% |
| Income taxes | 67/77 | €16,000 | €16,450 | +€450 | +2.8% |
| Profit (loss) for the period | 9904 | €63,651 | €65,859 | +€2,208 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €63,651 | €65,859 | +€2,208 | +3.5% |
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 11 October 2026 via checked.be.