SaFeMan: 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.
SaFeMan
Largest movements
- Receivables within one year -€216,969
down €216,969 (-96.4%), from €225,118 to €8,149
of which Other amounts receivable: -€206,321
- Current investments +€137,235
up €137,235 (+25.5%), from €538,946 to €676,181
- Cash +€99,239
up €99,239 (+60.2%), from €164,968 to €264,207
mainly Receivables within one year (+€216,969) and Net result for the year (+€22,686)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€17,038
down €17,038 (-67.6%), from €25,193 to €8,156
- Financial charges +€9,627
up €9,627 (+22.5%), from €42,738 to €52,365
- Taxes -€9,062
down €9,062 (-43.2%), from €20,999 to €11,937
- Gross operating margin -€1,778
down €1,778 (-2.1%), from €83,819 to €82,040
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 | €3,019,750 | €3,040,970 | +€21,220 | +0.7% |
| Fixed assets | 21/28 | €2,090,718 | €2,092,433 | +€1,715 | +0.1% |
| Tangible fixed assets | 22/27 | €2,587 | €4,302 | +€1,715 | +66.3% |
| Furniture and vehicles | 24 | €2,587 | €4,302 | +€1,715 | +66.3% |
| Financial fixed assets | 28 | €2,088,131 | €2,088,131 | = | 0.0% |
| Current assets | 29/58 | €929,032 | €948,537 | +€19,505 | +2.1% |
| Amounts receivable within one year | 40/41 | €225,118 | €8,149 | -€216,969 | -96.4% |
| Trade receivables | 40 | €10,648 | - | -€10,648 | |
| Other amounts receivable | 41 | €214,470 | €8,149 | -€206,321 | -96.2% |
| Current investments | 50/53 | €538,946 | €676,181 | +€137,235 | +25.5% |
| Cash at bank and in hand | 54/58 | €164,968 | €264,207 | +€99,239 | +60.2% |
| Total equity and liabilities | 10/49 | €3,019,750 | €3,040,970 | +€21,220 | +0.7% |
| Equity | 10/15 | €2,230,143 | €2,252,828 | +€22,686 | +1.0% |
| Contributions | 10/11 | €341,194 | €341,194 | = | 0.0% |
| Revaluation surpluses | 12 | €928,831 | €928,831 | = | 0.0% |
| Reserves | 13 | €960,118 | €982,803 | +€22,686 | +2.4% |
| Non-distributable reserves | 130/1 | €34,119 | €34,119 | = | 0.0% |
| Reserves not available under the articles | 1311 | €34,119 | €34,119 | = | 0.0% |
| Distributable reserves | 133 | €925,998 | €948,684 | +€22,686 | +2.4% |
| Amounts payable | 17/49 | €789,607 | €788,142 | -€1,466 | -0.2% |
| Amounts payable within one year | 42/48 | €748,879 | €738,263 | -€10,616 | -1.4% |
| Trade debts | 44 | €5,288 | €7,750 | +€2,462 | +46.6% |
| Suppliers | 440/4 | €5,288 | €7,750 | +€2,462 | +46.6% |
| Taxes, remuneration and social security | 45 | €22,008 | €19,603 | -€2,405 | -10.9% |
| Taxes | 450/3 | €22,008 | €19,603 | -€2,405 | -10.9% |
| Other amounts payable | 47/48 | €721,582 | €710,909 | -€10,673 | -1.5% |
| Accrued charges and deferred income | 492/3 | €40,728 | €49,879 | +€9,151 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €923 | €1,755 | +€832 | +90.1% |
| Other operating charges | 640/8 | €1,363 | €1,453 | +€91 | +6.7% |
| Gross operating margin | 9900 | €83,819 | €82,040 | -€1,778 | -2.1% |
| Operating profit (loss) | 9901 | €81,533 | €78,832 | -€2,701 | -3.3% |
| Financial income | 75/76B | €25,193 | €8,156 | -€17,038 | -67.6% |
| Recurring financial income | 75 | €25,193 | €8,156 | -€17,038 | -67.6% |
| Financial charges | 65/66B | €42,738 | €52,365 | +€9,627 | +22.5% |
| Recurring financial charges | 65 | €42,738 | €52,365 | +€9,627 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €63,988 | €34,622 | -€29,366 | -45.9% |
| Income taxes | 67/77 | €20,999 | €11,937 | -€9,062 | -43.2% |
| Profit (loss) for the period | 9904 | €42,989 | €22,686 | -€20,303 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,989 | €22,686 | -€20,303 | -47.2% |
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 21 October 2026 via checked.be.