SAFE CONDUITE: what changed
Two fiscal 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 CONDUITE
Largest movements
- Receivables within one year +€30,567
up €30,567 (+151.1%), from €20,225 to €50,792
of which Other amounts receivable: +€18,507
- Cash -€25,032
down €25,032 (-17.5%), from €142,643 to €117,611
mainly Investment in fixed assets (net) (-€36,766) and Receivables within one year (-€30,567)
- Tangible fixed assets +€16,014
up €16,014 (+38.8%), from €41,235 to €57,249
of which Furniture and vehicles: +€11,956
- Receivables after one year -€6,803
down €6,803 (-29.0%), from €23,446 to €16,643
- Trade debts +€6,038
up €6,038 (+63.0%), from €9,583 to €15,622
- Current portion of long-term debt +€4,317
up €4,317 (+20.6%), from €20,929 to €25,245
- Profit (loss) carried forward +€3,971
up €3,971 (+22.3%), from €17,810 to €21,782
- Debts after one year -€2,545
down €2,545 (-16.9%), from €15,064 to €12,519
- Gross operating margin -€11,624
down €11,624 (-27.4%), from €42,457 to €30,833
- Taxes -€4,676
down €4,676 (-72.7%), from €6,433 to €1,757
- Financial income -€4,209
down €4,209 (-91.6%), from €4,593 to €384
- Depreciation +€2,727
up €2,727 (+15.1%), from €18,026 to €20,752
- Other operating charges +€706
up €706 (+55.0%), from €1,284 to €1,990
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 | €235,258 | €248,185 | +€12,928 | +5.5% |
| Fixed assets | 21/28 | €41,235 | €57,249 | +€16,014 | +38.8% |
| Tangible fixed assets | 22/27 | €41,235 | €57,249 | +€16,014 | +38.8% |
| Land and buildings | 22 | - | €1,181 | +€1,181 | |
| Plant, machinery and equipment | 23 | €274 | €3,152 | +€2,877 | +1048.7% |
| Furniture and vehicles | 24 | €40,960 | €52,916 | +€11,956 | +29.2% |
| Current assets | 29/58 | €194,023 | €190,937 | -€3,086 | -1.6% |
| Amounts receivable after more than one year | 29 | €23,446 | €16,643 | -€6,803 | -29.0% |
| Trade receivables | 290 | €23,446 | €16,643 | -€6,803 | -29.0% |
| Amounts receivable within one year | 40/41 | €20,225 | €50,792 | +€30,567 | +151.1% |
| Trade receivables | 40 | €2,111 | €14,171 | +€12,060 | +571.3% |
| Other amounts receivable | 41 | €18,114 | €36,621 | +€18,507 | +102.2% |
| Cash at bank and in hand | 54/58 | €142,643 | €117,611 | -€25,032 | -17.5% |
| Deferred charges and accrued income | 490/1 | €7,709 | €5,891 | -€1,818 | -23.6% |
| Total equity and liabilities | 10/49 | €235,258 | €248,185 | +€12,928 | +5.5% |
| Equity | 10/15 | €181,616 | €185,587 | +€3,971 | +2.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €143,346 | €143,346 | = | 0.0% |
| Distributable reserves | 133 | €143,346 | €143,346 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,810 | €21,782 | +€3,971 | +22.3% |
| Amounts payable | 17/49 | €53,642 | €62,598 | +€8,956 | +16.7% |
| Amounts payable after more than one year | 17 | €15,064 | €12,519 | -€2,545 | -16.9% |
| Financial debts | 170/4 | €15,064 | €12,519 | -€2,545 | -16.9% |
| Amounts payable within one year | 42/48 | €38,578 | €50,079 | +€11,501 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €20,929 | €25,245 | +€4,317 | +20.6% |
| Trade debts | 44 | €9,583 | €15,622 | +€6,038 | +63.0% |
| Suppliers | 440/4 | €9,583 | €15,622 | +€6,038 | +63.0% |
| Taxes, remuneration and social security | 45 | €47 | - | -€47 | |
| Taxes | 450/3 | €47 | - | -€47 | |
| Other amounts payable | 47/48 | €8,019 | €9,212 | +€1,193 | +14.9% |
| Remuneration, social security and pensions | 62 | €687 | - | -€687 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,026 | €20,752 | +€2,727 | +15.1% |
| Other operating charges | 640/8 | €1,284 | €1,990 | +€706 | +55.0% |
| Gross operating margin | 9900 | €42,457 | €30,833 | -€11,624 | -27.4% |
| Operating profit (loss) | 9901 | €22,460 | €8,091 | -€14,369 | -64.0% |
| Financial income | 75/76B | €4,593 | €384 | -€4,209 | -91.6% |
| Recurring financial income | 75 | €4,593 | €384 | -€4,209 | -91.6% |
| Financial charges | 65/66B | €2,811 | €2,747 | -€63 | -2.3% |
| Recurring financial charges | 65 | €2,811 | €2,747 | -€63 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €24,243 | €5,728 | -€18,515 | -76.4% |
| Income taxes | 67/77 | €6,433 | €1,757 | -€4,676 | -72.7% |
| Profit (loss) for the period | 9904 | €17,810 | €3,971 | -€13,839 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,810 | €3,971 | -€13,839 | -77.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.