Safe Forward: 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 Forward
Largest movements
- Receivables within one year -€28,188
down €28,188 (-86.8%), from €32,470 to €4,282
of which Trade receivables: -€24,120
- Cash +€25,060
up €25,060 (+75.7%), from €33,100 to €58,160
mainly Receivables within one year (+€28,188) and Depreciation (+€6,698)
- Tangible fixed assets -€2,772
down €2,772 (-9.4%), from €29,618 to €26,846
of which Leasing and similar rights: -€6,277
- Deferred charges and accrued income +€1,875
up €1,875 (+33.6%), from €5,584 to €7,459
- Reserves +€6,552
up €6,552 (+31.2%), from €20,970 to €27,523
- Debts after one year -€6,050
down €6,050 (-25.3%), from €23,933 to €17,882
- Trade debts -€4,706
down €4,706 (-28.3%), from €16,610 to €11,905
- Gross operating margin -€21,795
down €21,795 (-15.2%), from €143,110 to €121,315
- Staff costs -€21,367
down €21,367 (-17.3%), from €123,421 to €102,053
- Depreciation +€4,933
up €4,933 (+279.4%), from €1,766 to €6,698
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 | €100,831 | €96,806 | -€4,025 | -4.0% |
| Fixed assets | 21/28 | €29,678 | €26,906 | -€2,772 | -9.3% |
| Tangible fixed assets | 22/27 | €29,618 | €26,846 | -€2,772 | -9.4% |
| Plant, machinery and equipment | 23 | - | €3,376 | +€3,376 | |
| Furniture and vehicles | 24 | - | €128 | +€128 | |
| Leasing and similar rights | 25 | €29,618 | €23,341 | -€6,277 | -21.2% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €71,153 | €69,900 | -€1,253 | -1.8% |
| Amounts receivable within one year | 40/41 | €32,470 | €4,282 | -€28,188 | -86.8% |
| Trade receivables | 40 | €28,397 | €4,277 | -€24,120 | -84.9% |
| Other amounts receivable | 41 | €4,073 | €4 | -€4,068 | -99.9% |
| Cash at bank and in hand | 54/58 | €33,100 | €58,160 | +€25,060 | +75.7% |
| Deferred charges and accrued income | 490/1 | €5,584 | €7,459 | +€1,875 | +33.6% |
| Total equity and liabilities | 10/49 | €100,831 | €96,806 | -€4,025 | -4.0% |
| Equity | 10/15 | €30,970 | €37,523 | +€6,552 | +21.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €20,970 | €27,523 | +€6,552 | +31.2% |
| Distributable reserves | 133 | €20,970 | €27,523 | +€6,552 | +31.2% |
| Amounts payable | 17/49 | €69,861 | €59,284 | -€10,577 | -15.1% |
| Amounts payable after more than one year | 17 | €23,933 | €17,882 | -€6,050 | -25.3% |
| Financial debts | 170/4 | €23,933 | €17,882 | -€6,050 | -25.3% |
| Amounts payable within one year | 42/48 | €45,503 | €40,869 | -€4,633 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €5,634 | €6,014 | +€380 | +6.7% |
| Trade debts | 44 | €16,610 | €11,905 | -€4,706 | -28.3% |
| Suppliers | 440/4 | €16,610 | €11,905 | -€4,706 | -28.3% |
| Taxes, remuneration and social security | 45 | €23,259 | €22,807 | -€452 | -1.9% |
| Taxes | 450/3 | €4,163 | €8,689 | +€4,526 | +108.7% |
| Remuneration and social security | 454/9 | €19,096 | €14,118 | -€4,978 | -26.1% |
| Other amounts payable | 47/48 | - | €144 | +€144 | |
| Accrued charges and deferred income | 492/3 | €425 | €532 | +€107 | +25.1% |
| Remuneration, social security and pensions | 62 | €123,421 | €102,053 | -€21,367 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,766 | €6,698 | +€4,933 | +279.4% |
| Other operating charges | 640/8 | €1,943 | €1,895 | -€48 | -2.5% |
| Gross operating margin | 9900 | €143,110 | €121,315 | -€21,795 | -15.2% |
| Operating profit (loss) | 9901 | €15,981 | €10,668 | -€5,312 | -33.2% |
| Financial income | 75/76B | €7 | €829 | +€822 | +11690.6% |
| Recurring financial income | 75 | €7 | €829 | +€822 | +11690.6% |
| Financial charges | 65/66B | €1,012 | €1,879 | +€867 | +85.6% |
| Recurring financial charges | 65 | €1,012 | €1,879 | +€867 | +85.6% |
| Profit (loss) for the period before taxes | 9903 | €14,975 | €9,618 | -€5,357 | -35.8% |
| Income taxes | 67/77 | €4,163 | €3,066 | -€1,098 | -26.4% |
| Profit (loss) for the period | 9904 | €10,812 | €6,552 | -€4,260 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,812 | €6,552 | -€4,260 | -39.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.