SAFELI: 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.
SAFELI
Largest movements
- Tangible fixed assets -€412,643
down €412,643 (-34.3%), from €1.2m to €791,900
of which Other tangible fixed assets: -€330,967
- Cash +€241,038
up €241,038 (+365.1%), from €66,018 to €307,056
mainly Investment in fixed assets (net) (+€400,761) and Net result for the year (+€342,437)
- Deferred charges and accrued income -€29,604
down €29,604 (-58.9%), from €50,249 to €20,645
- Other debts -€553,814
down €553,814 (-95.6%), from €579,564 to €25,750
- Reserves +€342,437
up €342,437 (+49.8%), from €687,058 to €1.0m
- Tax, wage and social debts +€29,467
up €29,467 (+557.3%), from €5,288 to €34,755
of which Taxes: +€29,467
- Trade debts -€17,949
down €17,949 (-61.7%), from €29,070 to €11,121
- Gross operating margin +€296,404
up €296,404 (+295.0%), from €100,461 to €396,865
- Depreciation -€32,620
down €32,620 (-73.3%), from €44,502 to €11,882
- Taxes +€29,619
up €29,619 (+583.4%), from €5,077 to €34,696
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 | €1,320,930 | €1,119,720 | -€201,209 | -15.2% |
| Fixed assets | 21/28 | €1,204,663 | €792,020 | -€412,643 | -34.3% |
| Tangible fixed assets | 22/27 | €1,204,543 | €791,900 | -€412,643 | -34.3% |
| Land and buildings | 22 | €251,615 | €161,815 | -€89,801 | -35.7% |
| Furniture and vehicles | 24 | - | €8,124 | +€8,124 | |
| Other tangible fixed assets | 26 | €952,928 | €621,961 | -€330,967 | -34.7% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €116,267 | €327,701 | +€211,434 | +181.9% |
| Cash at bank and in hand | 54/58 | €66,018 | €307,056 | +€241,038 | +365.1% |
| Deferred charges and accrued income | 490/1 | €50,249 | €20,645 | -€29,604 | -58.9% |
| Total equity and liabilities | 10/49 | €1,320,930 | €1,119,720 | -€201,209 | -15.2% |
| Equity | 10/15 | €705,658 | €1,048,094 | +€342,437 | +48.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €687,058 | €1,029,494 | +€342,437 | +49.8% |
| Distributable reserves | 133 | €687,058 | €1,029,494 | +€342,437 | +49.8% |
| Amounts payable | 17/49 | €615,272 | €71,626 | -€543,646 | -88.4% |
| Amounts payable within one year | 42/48 | €613,922 | €71,626 | -€542,296 | -88.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €29,070 | €11,121 | -€17,949 | -61.7% |
| Suppliers | 440/4 | €29,070 | €11,121 | -€17,949 | -61.7% |
| Taxes, remuneration and social security | 45 | €5,288 | €34,755 | +€29,467 | +557.3% |
| Taxes | 450/3 | €5,288 | €34,755 | +€29,467 | +557.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €579,564 | €25,750 | -€553,814 | -95.6% |
| Accrued charges and deferred income | 492/3 | €1,350 | €0 | -€1,350 | -100.0% |
| Non-recurring operating income | 76A | €185,052 | €555,371 | +€370,318 | +200.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,502 | €11,882 | -€32,620 | -73.3% |
| Other operating charges | 640/8 | €6,319 | €6,024 | -€294 | -4.7% |
| Gross operating margin | 9900 | €100,461 | €396,865 | +€296,404 | +295.0% |
| Operating profit (loss) | 9901 | €49,640 | €378,959 | +€329,319 | +663.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €650 | €1,826 | +€1,176 | +181.0% |
| Recurring financial charges | 65 | €650 | €1,826 | +€1,176 | +181.0% |
| Profit (loss) for the period before taxes | 9903 | €48,990 | €377,133 | +€328,143 | +669.8% |
| Income taxes | 67/77 | €5,077 | €34,696 | +€29,619 | +583.4% |
| Profit (loss) for the period | 9904 | €43,913 | €342,437 | +€298,523 | +679.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,913 | €342,437 | +€298,523 | +679.8% |
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 7 October 2026 via checked.be.