SAFE-T-FIRST: what changed
Two financial 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-T-FIRST
Largest movements
- Cash +€133,402
up €133,402 (+840%), from €15,890 to €149,292
mainly Net result for the year (+€135,571) and Trade debts (+€69,633)
- Receivables within one year +€60,545
up €60,545 (+28.5%), from €212,366 to €272,911
- Tangible fixed assets +€54,219
up €54,219 (+85.6%), from €63,342 to €117,561
of which Furniture and vehicles: +€54,540
- Deferred charges and accrued income -€8,977
no longer reported in 2026 (was €8,977)
- Profit (loss) carried forward +€135,571
up €135,571, from -€104,336 to €31,235
- Trade debts +€69,633
up €69,633 (+78.7%), from €88,533 to €158,166
- Current portion of long-term debt +€40,988
up €40,988 (+204%), from €20,047 to €61,035
- Other debts +€26,379
up €26,379 (+125%), from €21,082 to €47,461
- Tax, wage and social debts -€16,986
down €16,986 (-7.0%), from €241,000 to €224,014
of which Remuneration and social security: -€51,445
- Staff costs -€128,614
down €128,614 (-7.8%), from €1.6m to €1.5m
- Taxes +€35,968
up €35,968 (+285%), from €12,600 to €48,568
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,874 | €542,370 | +€241,496 | +80.3% |
| Fixed assets | 21/28 | €63,642 | €120,168 | +€56,526 | +88.8% |
| Intangible fixed assets | 21 | - | €2,307 | +€2,307 | |
| Tangible fixed assets | 22/27 | €63,342 | €117,561 | +€54,219 | +85.6% |
| Land and buildings | 22 | €55,005 | €45,838 | -€9,168 | -16.7% |
| Plant, machinery and equipment | 23 | €2,655 | €6,568 | +€3,913 | +147% |
| Furniture and vehicles | 24 | €5,681 | €60,221 | +€54,540 | +960% |
| Other tangible fixed assets | 26 | - | €4,933 | +€4,933 | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €237,232 | €422,203 | +€184,971 | +78.0% |
| Amounts receivable within one year | 40/41 | €212,366 | €272,911 | +€60,545 | +28.5% |
| Trade receivables | 40 | €212,366 | €272,911 | +€60,545 | +28.5% |
| Cash at bank and in hand | 54/58 | €15,890 | €149,292 | +€133,402 | +840% |
| Deferred charges and accrued income | 490/1 | €8,977 | - | -€8,977 | |
| Total equity and liabilities | 10/49 | €300,874 | €542,370 | +€241,496 | +80.3% |
| Equity | 10/15 | -€83,876 | €51,695 | +€135,571 | |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,336 | €31,235 | +€135,571 | |
| Amounts payable | 17/49 | €384,750 | €490,676 | +€105,926 | +27.5% |
| Amounts payable after more than one year | 17 | €14,087 | - | -€14,087 | |
| Financial debts | 170/4 | €14,087 | - | -€14,087 | |
| Amounts payable within one year | 42/48 | €370,663 | €490,676 | +€120,013 | +32.4% |
| Current portion of amounts payable after more than one year | 42 | €20,047 | €61,035 | +€40,988 | +204% |
| Trade debts | 44 | €88,533 | €158,166 | +€69,633 | +78.7% |
| Suppliers | 440/4 | €88,533 | €158,166 | +€69,633 | +78.7% |
| Taxes, remuneration and social security | 45 | €241,000 | €224,014 | -€16,986 | -7.0% |
| Taxes | 450/3 | €31,087 | €65,546 | +€34,459 | +111% |
| Remuneration and social security | 454/9 | €209,913 | €158,468 | -€51,445 | -24.5% |
| Other amounts payable | 47/48 | €21,082 | €47,461 | +€26,379 | +125% |
| Non-recurring operating income | 76A | - | €17,105 | +€17,105 | |
| Remuneration, social security and pensions | 62 | €1,649,150 | €1,520,537 | -€128,614 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,213 | €13,507 | +€1,294 | +10.6% |
| Other operating charges | 640/8 | €6,729 | €9,093 | +€2,364 | +35.1% |
| Non-recurring operating charges | 66A | - | €18,609 | +€18,609 | |
| Gross operating margin | 9900 | €1,744,346 | €1,757,420 | +€13,074 | +0.7% |
| Operating profit (loss) | 9901 | €76,254 | €195,674 | +€119,419 | +157% |
| Financial income | 75/76B | €0 | €443 | +€442 | +340,346% |
| Recurring financial income | 75 | €0 | €443 | +€442 | +340,346% |
| Financial charges | 65/66B | €8,284 | €11,978 | +€3,694 | +44.6% |
| Recurring financial charges | 65 | €8,284 | €11,978 | +€3,694 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €67,970 | €184,139 | +€116,168 | +171% |
| Income taxes | 67/77 | €12,600 | €48,568 | +€35,968 | +285% |
| Profit (loss) for the period | 9904 | €55,370 | €135,571 | +€80,200 | +145% |
| Profit (loss) for the period to be appropriated | 9905 | €55,370 | €135,571 | +€80,200 | +145% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.