SAFETYQUAL MANAGEMENT: 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.
SAFETYQUAL MANAGEMENT
Largest movements
- Cash +€9,428
up €9,428 (+38.8%), from €24,277 to €33,704
mainly Net result for the year (+€10,467) and Depreciation (+€1,249)
- Tangible fixed assets -€1,249
down €1,249 (-35.8%), from €3,490 to €2,241
- Receivables within one year +€878
up €878 (+64.4%), from €1,363 to €2,241
of which Trade receivables: +€1,512
- Reserves +€27,853
up €27,853 (+967%), from €2,880 to €30,733
of which Distributable reserves: +€27,853
- Profit (loss) carried forward -€17,386
no longer reported in 2025 (was €17,386)
- Tax, wage and social debts -€1,363
down €1,363 (-98.4%), from €1,386 to €22
- Taxes +€1,179
up €1,179 (+37.2%), from €3,168 to €4,347
- Gross operating margin -€1,056
down €1,056 (-6.0%), from €17,700 to €16,644
- Depreciation +€404
up €404 (+47.8%), from €845 to €1,249
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 | €29,454 | €38,420 | +€8,966 | +30.4% |
| Fixed assets | 21/28 | €3,490 | €2,241 | -€1,249 | -35.8% |
| Tangible fixed assets | 22/27 | €3,490 | €2,241 | -€1,249 | -35.8% |
| Furniture and vehicles | 24 | €3,490 | €2,241 | -€1,249 | -35.8% |
| Current assets | 29/58 | €25,965 | €36,179 | +€10,214 | +39.3% |
| Amounts receivable within one year | 40/41 | €1,363 | €2,241 | +€878 | +64.4% |
| Trade receivables | 40 | €488 | €2,000 | +€1,512 | +310% |
| Other amounts receivable | 41 | €875 | €241 | -€634 | -72.5% |
| Cash at bank and in hand | 54/58 | €24,277 | €33,704 | +€9,428 | +38.8% |
| Deferred charges and accrued income | 490/1 | €325 | €234 | -€91 | -28.0% |
| Total equity and liabilities | 10/49 | €29,454 | €38,420 | +€8,966 | +30.4% |
| Equity | 10/15 | €27,562 | €38,029 | +€10,467 | +38.0% |
| Contributions | 10/11 | €7,296 | €7,296 | = | 0.0% |
| Reserves | 13 | €2,880 | €30,733 | +€27,853 | +967% |
| Tax-exempt reserves | 132 | €2,880 | €2,880 | = | 0.0% |
| Distributable reserves | 133 | - | €27,853 | +€27,853 | |
| Profit (loss) carried forward | 14 | €17,386 | - | -€17,386 | |
| Amounts payable | 17/49 | €1,892 | €391 | -€1,502 | -79.4% |
| Amounts payable within one year | 42/48 | €1,892 | €391 | -€1,502 | -79.4% |
| Trade debts | 44 | €507 | €350 | -€157 | -30.9% |
| Suppliers | 440/4 | €507 | €350 | -€157 | -30.9% |
| Taxes, remuneration and social security | 45 | €1,386 | €22 | -€1,363 | -98.4% |
| Taxes | 450/3 | €1,386 | €22 | -€1,363 | -98.4% |
| Other amounts payable | 47/48 | - | €19 | +€19 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €845 | €1,249 | +€404 | +47.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €17,700 | €16,644 | -€1,056 | -6.0% |
| Operating profit (loss) | 9901 | €16,468 | €14,996 | -€1,472 | -8.9% |
| Financial income | 75/76B | €58 | €43 | -€15 | -26.0% |
| Recurring financial income | 75 | €58 | €43 | -€15 | -26.0% |
| Financial charges | 65/66B | €247 | €225 | -€23 | -9.2% |
| Recurring financial charges | 65 | €247 | €225 | -€23 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €16,279 | €14,814 | -€1,465 | -9.0% |
| Income taxes | 67/77 | €3,168 | €4,347 | +€1,179 | +37.2% |
| Profit (loss) for the period | 9904 | €13,110 | €10,467 | -€2,643 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,110 | €10,467 | -€2,643 | -20.2% |
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 24 October 2026 via checked.be.