SAFE CONSEIL: 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 CONSEIL
Largest movements
- Cash +€215,809
up €215,809 (+54.4%), from €396,504 to €612,312
mainly Net result for the year (+€249,132) and Other debts (+€35,952)
- Tangible fixed assets -€29,880
down €29,880 (-7.2%), from €414,572 to €384,692
of which Land and buildings: -€26,489
- Receivables within one year -€14,374
down €14,374 (-47.1%), from €30,535 to €16,161
of which Other amounts receivable: -€20,811
- Reserves +€127,834
up €127,834 (+19.9%), from €643,617 to €771,451
- Other debts +€35,952
up €35,952 (+41.0%), from €87,617 to €123,569
- Tax, wage and social debts +€20,088
up €20,088 (+184.9%), from €10,867 to €30,955
- Gross operating margin +€161,031
up €161,031 (+67.8%), from €237,414 to €398,445
- Taxes +€49,221
up €49,221 (+77.7%), from €63,367 to €112,588
- Depreciation +€6,589
up €6,589 (+26.5%), from €24,847 to €31,436
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 | €846,441 | €1,017,723 | +€171,282 | +20.2% |
| Fixed assets | 21/28 | €415,835 | €385,398 | -€30,437 | -7.3% |
| Intangible fixed assets | 21 | €613 | €56 | -€557 | -90.8% |
| Tangible fixed assets | 22/27 | €414,572 | €384,692 | -€29,880 | -7.2% |
| Land and buildings | 22 | €401,917 | €375,428 | -€26,489 | -6.6% |
| Plant, machinery and equipment | 23 | €9,643 | €7,364 | -€2,280 | -23.6% |
| Furniture and vehicles | 24 | €3,011 | €1,900 | -€1,111 | -36.9% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €430,606 | €632,325 | +€201,719 | +46.8% |
| Amounts receivable within one year | 40/41 | €30,535 | €16,161 | -€14,374 | -47.1% |
| Trade receivables | 40 | €9,620 | €16,056 | +€6,437 | +66.9% |
| Other amounts receivable | 41 | €20,916 | €105 | -€20,811 | -99.5% |
| Cash at bank and in hand | 54/58 | €396,504 | €612,312 | +€215,809 | +54.4% |
| Deferred charges and accrued income | 490/1 | €3,567 | €3,851 | +€284 | +8.0% |
| Total equity and liabilities | 10/49 | €846,441 | €1,017,723 | +€171,282 | +20.2% |
| Equity | 10/15 | €652,544 | €780,378 | +€127,834 | +19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €643,617 | €771,451 | +€127,834 | +19.9% |
| Distributable reserves | 133 | €643,617 | €771,451 | +€127,834 | +19.9% |
| Profit (loss) carried forward | 14 | €2,728 | €2,728 | = | 0.0% |
| Amounts payable | 17/49 | €193,897 | €237,345 | +€43,448 | +22.4% |
| Amounts payable after more than one year | 17 | €81,339 | €72,001 | -€9,338 | -11.5% |
| Financial debts | 170/4 | €76,639 | €67,301 | -€9,338 | -12.2% |
| Other amounts payable | 178/9 | €4,700 | €4,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €110,208 | €164,244 | +€54,036 | +49.0% |
| Current portion of amounts payable after more than one year | 42 | €9,019 | €9,338 | +€319 | +3.5% |
| Trade debts | 44 | €2,705 | €382 | -€2,323 | -85.9% |
| Suppliers | 440/4 | €2,705 | €382 | -€2,323 | -85.9% |
| Taxes, remuneration and social security | 45 | €10,867 | €30,955 | +€20,088 | +184.9% |
| Taxes | 450/3 | €10,867 | €30,955 | +€20,088 | +184.9% |
| Other amounts payable | 47/48 | €87,617 | €123,569 | +€35,952 | +41.0% |
| Accrued charges and deferred income | 492/3 | €2,350 | €1,100 | -€1,250 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,847 | €31,436 | +€6,589 | +26.5% |
| Other operating charges | 640/8 | €1,881 | €2,312 | +€431 | +22.9% |
| Gross operating margin | 9900 | €237,414 | €398,445 | +€161,031 | +67.8% |
| Operating profit (loss) | 9901 | €210,686 | €364,697 | +€154,011 | +73.1% |
| Financial income | 75/76B | €0 | €11 | +€11 | +5905.6% |
| Recurring financial income | 75 | €0 | €11 | +€11 | +5905.6% |
| Financial charges | 65/66B | €3,323 | €2,988 | -€336 | -10.1% |
| Recurring financial charges | 65 | €3,323 | €2,988 | -€336 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €207,363 | €361,720 | +€154,357 | +74.4% |
| Income taxes | 67/77 | €63,367 | €112,588 | +€49,221 | +77.7% |
| Profit (loss) for the period | 9904 | €143,996 | €249,132 | +€105,136 | +73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €143,996 | €249,132 | +€105,136 | +73.0% |
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 5 October 2026 via checked.be.