SAFENCO: 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.
SAFENCO
Largest movements
- Cash -€20,920
down €20,920 (-76.6%), from €27,328 to €6,408
mainly Net result for the year (-€15,153) and Trade debts (-€15,142)
- Receivables within one year -€20,659
down €20,659 (-20.4%), from €101,228 to €80,569
of which Other amounts receivable: -€10,963
- Trade debts -€15,142
down €15,142 (-85.3%), from €17,745 to €2,603
- Profit (loss) carried forward -€14,858
down €14,858 (-1,095%), from -€1,357 to -€16,215
- Tax, wage and social debts -€12,475
down €12,475 (-88.1%), from €14,161 to €1,686
- Other operating charges +€5,207
up €5,207 (+114%), from €4,578 to €9,785
- Gross operating margin -€5,129
down €5,129 (-391%), from -€1,312 to -€6,441
- Financial income -€2,185
down €2,185 (-36.0%), from €6,073 to €3,888
of which Non-recurring financial income: -€1,494
- Financial charges +€736
up €736 (+136%), from €540 to €1,276
- Taxes +€297
up €297 (+43.2%), from €687 to €984
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 | €130,222 | €88,088 | -€42,134 | -32.4% |
| Fixed assets | 21/28 | €1,666 | €1,111 | -€555 | -33.3% |
| Tangible fixed assets | 22/27 | €1,666 | €1,111 | -€555 | -33.3% |
| Furniture and vehicles | 24 | €1,666 | €1,111 | -€555 | -33.3% |
| Current assets | 29/58 | €128,556 | €86,977 | -€41,579 | -32.3% |
| Amounts receivable within one year | 40/41 | €101,228 | €80,569 | -€20,659 | -20.4% |
| Trade receivables | 40 | €18,873 | €9,177 | -€9,696 | -51.4% |
| Other amounts receivable | 41 | €82,355 | €71,392 | -€10,963 | -13.3% |
| Cash at bank and in hand | 54/58 | €27,328 | €6,408 | -€20,920 | -76.6% |
| Total equity and liabilities | 10/49 | €130,222 | €88,088 | -€42,134 | -32.4% |
| Equity | 10/15 | €97,808 | €82,655 | -€15,153 | -15.5% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €68,165 | €67,870 | -€295 | -0.4% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €65,065 | €64,770 | -€295 | -0.5% |
| Profit (loss) carried forward | 14 | -€1,357 | -€16,215 | -€14,858 | -1,095% |
| Amounts payable | 17/49 | €32,414 | €5,433 | -€26,981 | -83.2% |
| Amounts payable within one year | 42/48 | €31,906 | €4,289 | -€27,617 | -86.6% |
| Trade debts | 44 | €17,745 | €2,603 | -€15,142 | -85.3% |
| Suppliers | 440/4 | €17,745 | €2,603 | -€15,142 | -85.3% |
| Taxes, remuneration and social security | 45 | €14,161 | €1,686 | -€12,475 | -88.1% |
| Taxes | 450/3 | €14,161 | €1,686 | -€12,475 | -88.1% |
| Accrued charges and deferred income | 492/3 | €508 | €1,144 | +€636 | +125% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €555 | €555 | = | 0.0% |
| Other operating charges | 640/8 | €4,578 | €9,785 | +€5,207 | +114% |
| Gross operating margin | 9900 | -€1,312 | -€6,441 | -€5,129 | -391% |
| Operating profit (loss) | 9901 | -€6,445 | -€16,781 | -€10,336 | -160% |
| Financial income | 75/76B | €6,073 | €3,888 | -€2,185 | -36.0% |
| Recurring financial income | 75 | €4,579 | €3,888 | -€691 | -15.1% |
| Non-recurring financial income | 76B | €1,494 | - | -€1,494 | |
| Financial charges | 65/66B | €540 | €1,276 | +€736 | +136% |
| Recurring financial charges | 65 | €540 | €1,276 | +€736 | +136% |
| Profit (loss) for the period before taxes | 9903 | -€912 | -€14,169 | -€13,257 | -1,454% |
| Income taxes | 67/77 | €687 | €984 | +€297 | +43.2% |
| Profit (loss) for the period | 9904 | -€1,599 | -€15,153 | -€13,554 | -848% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,599 | -€15,153 | -€13,554 | -848% |
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 29 October 2026 via checked.be.