SAFFRA: 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.
SAFFRA
Largest movements
- Financial fixed assets -€18,765
down €18,765 (-27.2%), from €68,922 to €50,157
- Cash -€14,953
down €14,953 (-37.2%), from €40,157 to €25,204
mainly Net result for the year (-€37,137) and Other debts (-€11,344)
- Tangible fixed assets -€14,368
down €14,368 (-91.7%), from €15,671 to €1,303
of which Furniture and vehicles: -€13,340
- Profit (loss) carried forward -€37,137
down €37,137 (-2.2%), from -€1.7m to -€1.7m
- Other debts -€11,344
down €11,344 (-0.6%), from €1.8m to €1.7m
- Other operating charges +€18,701
up €18,701 (+2812.1%), from €665 to €19,366
- Depreciation -€2,523
down €2,523 (-14.9%), from €16,892 to €14,368
- Gross operating margin -€1,331
down €1,331 (-72.8%), from -€1,829 to -€3,160
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 | €126,183 | €78,280 | -€47,903 | -38.0% |
| Fixed assets | 21/28 | €84,593 | €51,460 | -€33,133 | -39.2% |
| Tangible fixed assets | 22/27 | €15,671 | €1,303 | -€14,368 | -91.7% |
| Plant, machinery and equipment | 23 | €2,331 | €1,303 | -€1,028 | -44.1% |
| Furniture and vehicles | 24 | €13,340 | - | -€13,340 | |
| Financial fixed assets | 28 | €68,922 | €50,157 | -€18,765 | -27.2% |
| Current assets | 29/58 | €41,590 | €26,820 | -€14,770 | -35.5% |
| Cash at bank and in hand | 54/58 | €40,157 | €25,204 | -€14,953 | -37.2% |
| Deferred charges and accrued income | 490/1 | €1,432 | €1,616 | +€183 | +12.8% |
| Total equity and liabilities | 10/49 | €126,183 | €78,280 | -€47,903 | -38.0% |
| Equity | 10/15 | -€1,625,974 | -€1,663,111 | -€37,137 | -2.3% |
| Contributions | 10/11 | €62,600 | €62,600 | = | 0.0% |
| Reserves | 13 | €1,063 | €1,063 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,063 | €1,063 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,063 | €1,063 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,689,638 | -€1,726,774 | -€37,137 | -2.2% |
| Amounts payable | 17/49 | €1,752,158 | €1,741,391 | -€10,766 | -0.6% |
| Amounts payable within one year | 42/48 | €1,752,158 | €1,741,391 | -€10,766 | -0.6% |
| Trade debts | 44 | - | €587 | +€587 | |
| Suppliers | 440/4 | - | €587 | +€587 | |
| Taxes, remuneration and social security | 45 | €102 | €92 | -€10 | -9.3% |
| Taxes | 450/3 | €102 | €92 | -€10 | -9.3% |
| Other amounts payable | 47/48 | €1,752,056 | €1,740,712 | -€11,344 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,892 | €14,368 | -€2,523 | -14.9% |
| Other operating charges | 640/8 | €665 | €19,366 | +€18,701 | +2812.1% |
| Gross operating margin | 9900 | -€1,829 | -€3,160 | -€1,331 | -72.8% |
| Operating profit (loss) | 9901 | -€19,385 | -€36,894 | -€17,509 | -90.3% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€19,520 | -€37,044 | -€17,524 | -89.8% |
| Income taxes | 67/77 | €102 | €92 | -€10 | -9.3% |
| Profit (loss) for the period | 9904 | -€19,622 | -€37,137 | -€17,514 | -89.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,622 | -€37,137 | -€17,514 | -89.3% |
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 8 October 2026 via checked.be.