SAFE HOUSE: 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 HOUSE
Largest movements
- Receivables within one year +€186,383
up €186,383 (+48.9%), from €380,856 to €567,240
of which Trade receivables: +€208,790
- Deferred charges and accrued income +€18,646
up €18,646 (+452.7%), from €4,119 to €22,765
- Tangible fixed assets +€17,697
up €17,697 (+20.0%), from €88,378 to €106,076
of which Furniture and vehicles: +€19,656
- Trade debts +€529,720
up €529,720 (+398.7%), from €132,847 to €662,567
- Other debts -€268,691
down €268,691 (-88.1%), from €304,985 to €36,294
- Reserves -€51,122
down €51,122 (-28.9%), from €176,647 to €125,525
of which Tax-exempt reserves: -€51,122
- Tax, wage and social debts +€40,461
up €40,461 (+34.3%), from €117,835 to €158,296
of which Taxes: +€69,170
- Current portion of long-term debt -€39,060
down €39,060 (-13.6%), from €287,406 to €248,346
- Staff costs +€314,638
up €314,638 (+52.5%), from €599,677 to €914,315
- Taxes +€139,305
up €139,305 (+1356.9%), from €10,267 to €149,572
- Gross operating margin +€115,594
up €115,594 (+11.6%), from €997,607 to €1.1m
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 | €1,494,562 | €1,723,982 | +€229,420 | +15.4% |
| Fixed assets | 21/28 | €88,906 | €109,506 | +€20,600 | +23.2% |
| Intangible fixed assets | 21 | €527 | €3,239 | +€2,712 | +514.2% |
| Tangible fixed assets | 22/27 | €88,378 | €106,076 | +€17,697 | +20.0% |
| Land and buildings | 22 | €9,840 | €8,352 | -€1,488 | -15.1% |
| Plant, machinery and equipment | 23 | €26,009 | €25,539 | -€470 | -1.8% |
| Furniture and vehicles | 24 | €52,530 | €72,186 | +€19,656 | +37.4% |
| Financial fixed assets | 28 | - | €191 | +€191 | |
| Current assets | 29/58 | €1,405,656 | €1,614,476 | +€208,820 | +14.9% |
| Amounts receivable after more than one year | 29 | - | €6,000 | +€6,000 | |
| Other amounts receivable | 291 | - | €6,000 | +€6,000 | |
| Stocks and contracts in progress | 3 | €904,514 | €908,275 | +€3,761 | +0.4% |
| Stocks | 30/36 | €904,514 | €908,275 | +€3,761 | +0.4% |
| Amounts receivable within one year | 40/41 | €380,856 | €567,240 | +€186,383 | +48.9% |
| Trade receivables | 40 | €351,723 | €560,513 | +€208,790 | +59.4% |
| Other amounts receivable | 41 | €29,133 | €6,726 | -€22,407 | -76.9% |
| Cash at bank and in hand | 54/58 | €116,167 | €110,197 | -€5,970 | -5.1% |
| Deferred charges and accrued income | 490/1 | €4,119 | €22,765 | +€18,646 | +452.7% |
| Total equity and liabilities | 10/49 | €1,494,562 | €1,723,982 | +€229,420 | +15.4% |
| Equity | 10/15 | €638,810 | €587,897 | -€50,914 | -8.0% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €176,647 | €125,525 | -€51,122 | -28.9% |
| Non-distributable reserves | 130/1 | €3,499 | €3,499 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,499 | €3,499 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,122 | - | -€51,122 | |
| Distributable reserves | 133 | €122,026 | €122,026 | = | 0.0% |
| Profit (loss) carried forward | 14 | €427,163 | €427,371 | +€208 | 0.0% |
| Amounts payable | 17/49 | €855,751 | €1,136,085 | +€280,334 | +32.8% |
| Amounts payable after more than one year | 17 | €12,678 | €29,554 | +€16,876 | +133.1% |
| Financial debts | 170/4 | €12,678 | €29,554 | +€16,876 | +133.1% |
| Amounts payable within one year | 42/48 | €843,073 | €1,105,503 | +€262,429 | +31.1% |
| Current portion of amounts payable after more than one year | 42 | €287,406 | €248,346 | -€39,060 | -13.6% |
| Trade debts | 44 | €132,847 | €662,567 | +€529,720 | +398.7% |
| Suppliers | 440/4 | €132,847 | €662,567 | +€529,720 | +398.7% |
| Taxes, remuneration and social security | 45 | €117,835 | €158,296 | +€40,461 | +34.3% |
| Taxes | 450/3 | €11,725 | €80,895 | +€69,170 | +589.9% |
| Remuneration and social security | 454/9 | €106,110 | €77,401 | -€28,709 | -27.1% |
| Other amounts payable | 47/48 | €304,985 | €36,294 | -€268,691 | -88.1% |
| Accrued charges and deferred income | 492/3 | - | €1,028 | +€1,028 | |
| Remuneration, social security and pensions | 62 | €599,677 | €914,315 | +€314,638 | +52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,649 | €20,546 | +€1,897 | +10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €477 | - | -€477 | |
| Other operating charges | 640/8 | €18,065 | €14,119 | -€3,946 | -21.8% |
| Non-recurring operating charges | 66A | -€121 | €16,138 | +€16,259 | |
| Gross operating margin | 9900 | €997,607 | €1,113,201 | +€115,594 | +11.6% |
| Operating profit (loss) | 9901 | €360,861 | €148,084 | -€212,777 | -59.0% |
| Financial income | 75/76B | €1,447 | €1,388 | -€58 | -4.0% |
| Recurring financial income | 75 | €1,447 | €1,388 | -€58 | -4.0% |
| Financial charges | 65/66B | €27,255 | €17,814 | -€9,441 | -34.6% |
| Recurring financial charges | 65 | €27,255 | €17,814 | -€9,441 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €335,053 | €131,658 | -€203,395 | -60.7% |
| Income taxes | 67/77 | €10,267 | €149,572 | +€139,305 | +1356.9% |
| Profit (loss) for the period | 9904 | €324,786 | -€17,914 | -€342,700 | |
| Transfer from tax-exempt reserves | 789 | - | €51,122 | +€51,122 | |
| Profit (loss) for the period to be appropriated | 9905 | €324,786 | €33,208 | -€291,578 | -89.8% |
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.