Safi Partners: 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.
Safi Partners
Largest movements
- Receivables within one year +€41,490
up €41,490 (+134%), from €30,881 to €72,371
of which Other amounts receivable: +€47,122
- Cash +€10,925
up €10,925 (+378%), from €2,894 to €13,819
mainly Net result for the year (+€33,525) and Tax, wage and social debts (+€8,532)
- Tangible fixed assets -€1,509
down €1,509 (-16.4%), from €9,209 to €7,700
of which Other tangible fixed assets: -€1,600
- Reserves +€33,525
up €33,525 (+135%), from €24,899 to €58,424
- Tax, wage and social debts +€8,532
up €8,532 (+53.3%), from €15,995 to €24,527
- Accrued charges and deferred income +€7,200
new in 2025: €7,200
- Trade debts +€1,946
up €1,946 (+67.0%), from €2,904 to €4,849
- Gross operating margin +€11,835
up €11,835 (+32.4%), from €36,525 to €48,360
- Taxes +€2,641
up €2,641 (+29.7%), from €8,899 to €11,541
- Financial charges +€577
up €577 (+123%), from €468 to €1,045
- Depreciation +€527
up €527 (+23.0%), from €2,291 to €2,818
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 | €45,297 | €96,500 | +€51,203 | +113% |
| Fixed assets | 21/28 | €9,209 | €7,700 | -€1,509 | -16.4% |
| Tangible fixed assets | 22/27 | €9,209 | €7,700 | -€1,509 | -16.4% |
| Plant, machinery and equipment | 23 | €1,682 | €1,282 | -€400 | -23.8% |
| Furniture and vehicles | 24 | €1,132 | €1,622 | +€491 | +43.3% |
| Other tangible fixed assets | 26 | €6,396 | €4,796 | -€1,600 | -25.0% |
| Current assets | 29/58 | €36,088 | €88,800 | +€52,712 | +146% |
| Stocks and contracts in progress | 3 | €525 | €525 | = | 0.0% |
| Stocks | 30/36 | €525 | €525 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €30,881 | €72,371 | +€41,490 | +134% |
| Trade receivables | 40 | €6,310 | €678 | -€5,632 | -89.2% |
| Other amounts receivable | 41 | €24,571 | €71,693 | +€47,122 | +192% |
| Cash at bank and in hand | 54/58 | €2,894 | €13,819 | +€10,925 | +378% |
| Deferred charges and accrued income | 490/1 | €1,788 | €2,085 | +€297 | +16.6% |
| Total equity and liabilities | 10/49 | €45,297 | €96,500 | +€51,203 | +113% |
| Equity | 10/15 | €26,399 | €59,924 | +€33,525 | +127% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €24,899 | €58,424 | +€33,525 | +135% |
| Distributable reserves | 133 | €24,899 | €58,424 | +€33,525 | +135% |
| Amounts payable | 17/49 | €18,898 | €36,576 | +€17,678 | +93.5% |
| Amounts payable within one year | 42/48 | €18,898 | €29,376 | +€10,478 | +55.4% |
| Trade debts | 44 | €2,904 | €4,849 | +€1,946 | +67.0% |
| Suppliers | 440/4 | €2,904 | €4,849 | +€1,946 | +67.0% |
| Taxes, remuneration and social security | 45 | €15,995 | €24,527 | +€8,532 | +53.3% |
| Taxes | 450/3 | €15,995 | €24,527 | +€8,532 | +53.3% |
| Accrued charges and deferred income | 492/3 | - | €7,200 | +€7,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,291 | €2,818 | +€527 | +23.0% |
| Other operating charges | 640/8 | €830 | €688 | -€142 | -17.2% |
| Gross operating margin | 9900 | €36,525 | €48,360 | +€11,835 | +32.4% |
| Operating profit (loss) | 9901 | €33,404 | €44,855 | +€11,451 | +34.3% |
| Financial income | 75/76B | €862 | €1,256 | +€393 | +45.6% |
| Recurring financial income | 75 | €862 | €1,256 | +€393 | +45.6% |
| Financial charges | 65/66B | €468 | €1,045 | +€577 | +123% |
| Recurring financial charges | 65 | €468 | €1,045 | +€577 | +123% |
| Profit (loss) for the period before taxes | 9903 | €33,798 | €45,065 | +€11,267 | +33.3% |
| Income taxes | 67/77 | €8,899 | €11,541 | +€2,641 | +29.7% |
| Profit (loss) for the period | 9904 | €24,899 | €33,525 | +€8,626 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,899 | €33,525 | +€8,626 | +34.6% |
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 20 October 2026 via checked.be.