SAFEPAND: 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.
SAFEPAND
Largest movements
- Receivables after one year +€30,898
new in 2025: €30,898
- Receivables within one year -€30,292
down €30,292 (-100%), from €30,292 to €0
- Tangible fixed assets -€25,421
down €25,421 (-2.9%), from €862,291 to €836,870
- Cash +€23,511
up €23,511 (+28,170%), from €83 to €23,594
mainly Net result for the year (+€35,400) and Receivables within one year (+€30,292)
- Debts after one year -€43,318
down €43,318 (-6.0%), from €726,200 to €682,882
- Reserves +€20,412
new in 2025: €20,412
- Profit (loss) carried forward +€14,988
up €14,988, from -€14,988 to €0
- Depreciation -€36,461
down €36,461 (-58.9%), from €61,882 to €25,421
- Gross operating margin +€27,657
up €27,657 (+38.5%), from €71,904 to €99,562
- Taxes +€5,118
new in 2025: €5,118
- Financial charges +€4,709
up €4,709 (+21.2%), from €22,174 to €26,883
- Other operating charges +€3,836
up €3,836 (+109%), from €3,509 to €7,345
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 | €893,012 | €891,730 | -€1,282 | -0.1% |
| Fixed assets | 21/28 | €862,291 | €836,870 | -€25,421 | -2.9% |
| Tangible fixed assets | 22/27 | €862,291 | €836,870 | -€25,421 | -2.9% |
| Land and buildings | 22 | €862,291 | €836,870 | -€25,421 | -2.9% |
| Current assets | 29/58 | €30,721 | €54,860 | +€24,139 | +78.6% |
| Amounts receivable after more than one year | 29 | - | €30,898 | +€30,898 | |
| Other amounts receivable | 291 | - | €30,898 | +€30,898 | |
| Amounts receivable within one year | 40/41 | €30,292 | €0 | -€30,292 | -100% |
| Other amounts receivable | 41 | €30,292 | €0 | -€30,292 | -100% |
| Cash at bank and in hand | 54/58 | €83 | €23,594 | +€23,511 | +28,170% |
| Deferred charges and accrued income | 490/1 | €345 | €367 | +€22 | +6.4% |
| Total equity and liabilities | 10/49 | €893,012 | €891,730 | -€1,282 | -0.1% |
| Equity | 10/15 | €125,012 | €160,412 | +€35,400 | +28.3% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | - | €20,412 | +€20,412 | |
| Distributable reserves | 133 | - | €20,412 | +€20,412 | |
| Profit (loss) carried forward | 14 | -€14,988 | €0 | +€14,988 | |
| Amounts payable | 17/49 | €768,001 | €731,318 | -€36,682 | -4.8% |
| Amounts payable after more than one year | 17 | €726,200 | €682,882 | -€43,318 | -6.0% |
| Financial debts | 170/4 | €726,200 | €682,882 | -€43,318 | -6.0% |
| Amounts payable within one year | 42/48 | €41,801 | €48,437 | +€6,636 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €41,801 | €43,318 | +€1,517 | +3.6% |
| Taxes, remuneration and social security | 45 | - | €5,118 | +€5,118 | |
| Taxes | 450/3 | - | €5,118 | +€5,118 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,882 | €25,421 | -€36,461 | -58.9% |
| Other operating charges | 640/8 | €3,509 | €7,345 | +€3,836 | +109% |
| Gross operating margin | 9900 | €71,904 | €99,562 | +€27,657 | +38.5% |
| Operating profit (loss) | 9901 | €6,513 | €66,796 | +€60,282 | +926% |
| Financial income | 75/76B | €672 | €606 | -€67 | -9.9% |
| Recurring financial income | 75 | €672 | €606 | -€67 | -9.9% |
| Financial charges | 65/66B | €22,174 | €26,883 | +€4,709 | +21.2% |
| Recurring financial charges | 65 | €22,174 | €26,883 | +€4,709 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,988 | €40,518 | +€55,507 | |
| Income taxes | 67/77 | - | €5,118 | +€5,118 | |
| Profit (loss) for the period | 9904 | -€14,988 | €35,400 | +€50,388 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,988 | €35,400 | +€50,388 |
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 24 October 2026 via checked.be.