SAFE CONSTRUCT: 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 CONSTRUCT
Largest movements
- Cash +€115,577
up €115,577 (+30.4%), from €380,640 to €496,217
mainly Net result for the year (+€94,449) and Receivables within one year (+€11,141)
- Receivables within one year -€11,141
down €11,141 (-45.3%), from €24,587 to €13,447
of which Other amounts receivable: -€6,293
- Reserves +€94,445
up €94,445 (+26.0%), from €362,710 to €457,155
- Gross operating margin +€67,060
up €67,060 (+95.5%), from €70,238 to €137,298
- Taxes +€24,488
up €24,488 (+115.8%), from €21,143 to €45,632
- Financial income +€7,691
up €7,691 (+2958.8%), from €260 to €7,950
- Depreciation -€1,778
down €1,778 (-29.4%), from €6,051 to €4,273
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 | €416,430 | €516,491 | +€100,061 | +24.0% |
| Fixed assets | 21/28 | €9,526 | €5,254 | -€4,273 | -44.9% |
| Tangible fixed assets | 22/27 | €9,526 | €5,254 | -€4,273 | -44.9% |
| Land and buildings | 22 | €5,282 | €2,984 | -€2,298 | -43.5% |
| Plant, machinery and equipment | 23 | €175 | €0 | -€175 | -100.0% |
| Furniture and vehicles | 24 | €4,070 | €2,270 | -€1,801 | -44.2% |
| Current assets | 29/58 | €406,903 | €511,237 | +€104,334 | +25.6% |
| Amounts receivable within one year | 40/41 | €24,587 | €13,447 | -€11,141 | -45.3% |
| Trade receivables | 40 | €5,337 | €489 | -€4,848 | -90.8% |
| Other amounts receivable | 41 | €19,250 | €12,958 | -€6,293 | -32.7% |
| Cash at bank and in hand | 54/58 | €380,640 | €496,217 | +€115,577 | +30.4% |
| Deferred charges and accrued income | 490/1 | €1,676 | €1,573 | -€103 | -6.1% |
| Total equity and liabilities | 10/49 | €416,430 | €516,491 | +€100,061 | +24.0% |
| Equity | 10/15 | €390,840 | €485,289 | +€94,449 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,710 | €457,155 | +€94,445 | +26.0% |
| Distributable reserves | 133 | €362,710 | €457,155 | +€94,445 | +26.0% |
| Profit (loss) carried forward | 14 | €9,530 | €9,534 | +€4 | 0.0% |
| Amounts payable | 17/49 | €25,589 | €31,201 | +€5,612 | +21.9% |
| Amounts payable within one year | 42/48 | €25,589 | €31,201 | +€5,612 | +21.9% |
| Trade debts | 44 | €8,076 | €5,689 | -€2,387 | -29.6% |
| Suppliers | 440/4 | €8,076 | €5,689 | -€2,387 | -29.6% |
| Advances received on contracts in progress | 46 | €787 | €787 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,245 | €14,665 | +€4,420 | +43.1% |
| Taxes | 450/3 | €10,245 | €14,665 | +€4,420 | +43.1% |
| Other amounts payable | 47/48 | €6,482 | €10,061 | +€3,579 | +55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,051 | €4,273 | -€1,778 | -29.4% |
| Other operating charges | 640/8 | €1,120 | €650 | -€470 | -41.9% |
| Gross operating margin | 9900 | €70,238 | €137,298 | +€67,060 | +95.5% |
| Operating profit (loss) | 9901 | €63,068 | €132,375 | +€69,308 | +109.9% |
| Financial income | 75/76B | €260 | €7,950 | +€7,691 | +2958.8% |
| Recurring financial income | 75 | €260 | €7,950 | +€7,691 | +2958.8% |
| Financial charges | 65/66B | €198 | €246 | +€48 | +24.2% |
| Recurring financial charges | 65 | €198 | €246 | +€48 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €63,130 | €140,080 | +€76,950 | +121.9% |
| Income taxes | 67/77 | €21,143 | €45,632 | +€24,488 | +115.8% |
| Profit (loss) for the period | 9904 | €41,987 | €94,449 | +€52,462 | +124.9% |
| Profit (loss) for the period to be appropriated | 9905 | €41,987 | €94,449 | +€52,462 | +124.9% |
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 1 October 2026 via checked.be.