SAFE TENSIONING SYSTEM: 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 TENSIONING SYSTEM
Largest movements
- Cash -€250,196
down €250,196 (-59.0%), from €423,927 to €173,731
mainly Receivables within one year (-€136,241) and Short-term financial debts (-€126,275)
- Receivables within one year +€136,241
up €136,241 (+25.1%), from €543,385 to €679,626
of which Trade receivables: +€77,399
- Tangible fixed assets -€118,673
down €118,673 (-5.6%), from €2.1m to €2.0m
of which Land and buildings: -€141,379
- Short-term financial debts -€126,275
down €126,275 (-50.3%), from €251,275 to €125,000
- Other debts +€94,378
up €94,378 (+83.7%), from €112,752 to €207,130
- Debts after one year -€90,770
down €90,770 (-5.8%), from €1.6m to €1.5m
of which Financial debts: -€105,770
- Trade debts -€89,297
down €89,297 (-24.7%), from €362,218 to €272,921
- Current portion of long-term debt -€55,626
down €55,626 (-31.5%), from €176,716 to €121,090
- Gross operating margin +€111,952
up €111,952 (+120%), from €93,672 to €205,624
- Financial income +€10,042
up €10,042 (+141%), from €7,139 to €17,181
- Financial charges -€8,216
down €8,216 (-13.4%), from €61,128 to €52,912
- Depreciation +€3,200
up €3,200 (+2.2%), from €143,758 to €146,958
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.
Derived cash bridge
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 | €3,115,522 | €2,889,898 | -€225,624 | -7.2% |
| Fixed assets | 21/28 | €2,111,833 | €1,993,160 | -€118,673 | -5.6% |
| Tangible fixed assets | 22/27 | €2,111,679 | €1,993,006 | -€118,673 | -5.6% |
| Land and buildings | 22 | €2,093,673 | €1,952,294 | -€141,379 | -6.8% |
| Plant, machinery and equipment | 23 | €18,006 | €40,712 | +€22,706 | +126% |
| Financial fixed assets | 28 | €154 | €154 | = | 0.0% |
| Current assets | 29/58 | €1,003,689 | €896,738 | -€106,951 | -10.7% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €543,385 | €679,626 | +€136,241 | +25.1% |
| Trade receivables | 40 | €486,563 | €563,962 | +€77,399 | +15.9% |
| Other amounts receivable | 41 | €56,822 | €115,664 | +€58,842 | +104% |
| Cash at bank and in hand | 54/58 | €423,927 | €173,731 | -€250,196 | -59.0% |
| Deferred charges and accrued income | 490/1 | €11,377 | €18,381 | +€7,004 | +61.6% |
| Total equity and liabilities | 10/49 | €3,115,522 | €2,889,898 | -€225,624 | -7.2% |
| Equity | 10/15 | €571,002 | €635,178 | +€64,176 | +11.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,762 | €3,762 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,762 | €3,762 | = | 0.0% |
| Legal reserve | 130 | €3,762 | €3,762 | = | 0.0% |
| Profit (loss) carried forward | 14 | €461,713 | €472,071 | +€10,358 | +2.2% |
| Investment grants | 15 | €44,027 | €97,845 | +€53,818 | +122% |
| Provisions and deferred taxes | 16 | €30,948 | €48,054 | +€17,106 | +55.3% |
| Deferred taxes | 168 | €30,948 | €48,054 | +€17,106 | +55.3% |
| Amounts payable | 17/49 | €2,513,572 | €2,206,666 | -€306,906 | -12.2% |
| Amounts payable after more than one year | 17 | €1,565,710 | €1,474,940 | -€90,770 | -5.8% |
| Financial debts | 170/4 | €1,565,710 | €1,459,940 | -€105,770 | -6.8% |
| Other amounts payable | 178/9 | - | €15,000 | +€15,000 | |
| Amounts payable within one year | 42/48 | €942,387 | €726,251 | -€216,136 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €176,716 | €121,090 | -€55,626 | -31.5% |
| Financial debts | 43 | €251,275 | €125,000 | -€126,275 | -50.3% |
| Credit institutions | 430/8 | €251,275 | €125,000 | -€126,275 | -50.3% |
| Trade debts | 44 | €362,218 | €272,921 | -€89,297 | -24.7% |
| Suppliers | 440/4 | €362,218 | €272,921 | -€89,297 | -24.7% |
| Taxes, remuneration and social security | 45 | €39,426 | €110 | -€39,316 | -99.7% |
| Taxes | 450/3 | €29,211 | €110 | -€29,101 | -99.6% |
| Remuneration and social security | 454/9 | €10,215 | - | -€10,215 | |
| Other amounts payable | 47/48 | €112,752 | €207,130 | +€94,378 | +83.7% |
| Accrued charges and deferred income | 492/3 | €5,475 | €5,475 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,758 | €146,958 | +€3,200 | +2.2% |
| Other operating charges | 640/8 | €12,675 | €12,577 | -€98 | -0.8% |
| Gross operating margin | 9900 | €93,672 | €205,624 | +€111,952 | +120% |
| Operating profit (loss) | 9901 | -€62,761 | €46,089 | +€108,850 | |
| Financial income | 75/76B | €7,139 | €17,181 | +€10,042 | +141% |
| Recurring financial income | 75 | €7,139 | €17,181 | +€10,042 | +141% |
| Financial charges | 65/66B | €61,128 | €52,912 | -€8,216 | -13.4% |
| Recurring financial charges | 65 | €61,128 | €52,912 | -€8,216 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | -€116,750 | €10,358 | +€127,108 | |
| Profit (loss) for the period | 9904 | -€116,750 | €10,358 | +€127,108 | |
| Profit (loss) for the period to be appropriated | 9905 | -€116,750 | €10,358 | +€127,108 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.