Safinco: what changed
What changed
Safinco
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€35.5m
2024 · €38.6m-€3.1m
Equity
€399.0m
2024 · €376.5m+€22.5m
Cash
€51,257
2024 · €387,265-€336,007
Balance sheet total
€412.2m
2024 · €402.7m+€9.5m
Largest movements
Assets
- Financial fixed assets +€9.9m
up €9.9m (+2.5%), from €402.1m to €412.0m
Equity and liabilities
- Profit (loss) carried forward +€20.7m
up €20.7m (+64.5%), from €32.1m to €52.8m
- Other debts -€13.0m
down €13.0m (-50.0%), from €25.9m to €13.0m
Income statement
No income-statement line moved by more than 1% of the activity.
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€38.6m
Staff costs
-€18,141
Other operating charges
+€108
Other operating items
-€65,112
Financial income
-€3.0m
Financial charges
-€6,626
Result 2025
€35.5m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€22.5m
Investment
-€9.9m
Financing
-€13.0m
Cash 2024
€387,265
From operations (derived)
+€22.5m
Net result for the year
+€35.5m
Smaller working-capital items
-€739
Other debts
-€13.0m
Investment (derived)
-€9.9m
Investment in fixed assets (net)
-€9.9m
Financing
-€13.0m
Contributions, distributions and other
-€13.0m
Cash 2025
€51,257
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €402,657,387 | €412,194,624 | +€9.5m | +2.4% |
| Fixed assets | 21/28 | €402,149,250 | €412,021,366 | +€9.9m | +2.5% |
| Financial fixed assets | 28 | €402,149,250 | €412,021,366 | +€9.9m | +2.5% |
| Affiliated companies | 280/1 | €402,149,250 | €412,021,366 | +€9.9m | +2.5% |
| Participating interests | 280 | €402,149,250 | €412,021,366 | +€9.9m | +2.5% |
| Current assets | 29/58 | €508,138 | €173,259 | -€334,879 | -65.9% |
| Amounts receivable within one year | 40/41 | €120,873 | €122,001 | +€1,129 | +0.9% |
| Trade receivables | 40 | €115,472 | €121,166 | +€5,693 | +4.9% |
| Other amounts receivable | 41 | €5,400 | €835 | -€4,565 | -84.5% |
| Cash at bank and in hand | 54/58 | €387,265 | €51,257 | -€336,007 | -86.8% |
| Total equity and liabilities | 10/49 | €402,657,387 | €412,194,624 | +€9.5m | +2.4% |
| Equity | 10/15 | €376,547,858 | €399,043,334 | +€22.5m | +6.0% |
| Contributions | 10/11 | €286,501,000 | €286,501,000 | = | 0.0% |
| Capital | 10 | €286,501,000 | €286,501,000 | = | 0.0% |
| Issued capital | 100 | €286,501,000 | €286,501,000 | = | 0.0% |
| Reserves | 13 | €57,928,564 | €59,701,426 | +€1.8m | +3.1% |
| Non-distributable reserves | 130/1 | €18,241,102 | €20,013,965 | +€1.8m | +9.7% |
| Legal reserve | 130 | €18,241,102 | €20,013,965 | +€1.8m | +9.7% |
| Distributable reserves | 133 | €39,687,462 | €39,687,462 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,118,295 | €52,840,908 | +€20.7m | +64.5% |
| Amounts payable | 17/49 | €26,109,529 | €13,151,290 | -€13.0m | -49.6% |
| Amounts payable within one year | 42/48 | €26,109,529 | €13,137,120 | -€13.0m | -49.7% |
| Trade debts | 44 | €155,296 | €149,667 | -€5,629 | -3.6% |
| Suppliers | 440/4 | €155,296 | €149,667 | -€5,629 | -3.6% |
| Taxes, remuneration and social security | 45 | €33,826 | €25,675 | -€8,151 | -24.1% |
| Taxes | 450/3 | €1,431 | €2,338 | +€907 | +63.4% |
| Remuneration and social security | 454/9 | €32,396 | €23,338 | -€9,058 | -28.0% |
| Other amounts payable | 47/48 | €25,920,407 | €12,961,778 | -€13.0m | -50.0% |
| Accrued charges and deferred income | 492/3 | - | €14,170 | +€14,170 | |
| Operating charges | 60/66A | €358,740 | €441,886 | +€83,145 | +23.2% |
| Services and other goods | 61 | €296,094 | €361,206 | +€65,112 | +22.0% |
| Remuneration, social security and pensions | 62 | €61,398 | €79,539 | +€18,141 | +29.5% |
| Other operating charges | 640/8 | €1,248 | €1,140 | -€108 | -8.7% |
| Operating profit (loss) | 9901 | -€358,740 | -€441,886 | -€83,145 | -23.2% |
| Financial income | 75/76B | €38,937,220 | €35,907,171 | -€3.0m | -7.8% |
| Recurring financial income | 75 | €30,670,728 | €26,035,055 | -€4.6m | -15.1% |
| Income from financial fixed assets | 750 | €30,662,902 | €26,035,055 | -€4.6m | -15.1% |
| Other financial income | 752/9 | €7,826 | - | -€7,826 | |
| Non-recurring financial income | 76B | €8,266,493 | €9,872,116 | +€1.6m | +19.4% |
| Financial charges | 65/66B | €1,405 | €8,031 | +€6,626 | +472% |
| Recurring financial charges | 65 | €1,405 | €8,031 | +€6,626 | +472% |
| Other financial charges | 652/9 | €1,405 | €8,031 | +€6,626 | +472% |
| Profit (loss) for the period before taxes | 9903 | €38,577,075 | €35,457,254 | -€3.1m | -8.1% |
| Profit (loss) for the period | 9904 | €38,577,075 | €35,457,254 | -€3.1m | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,577,075 | €35,457,254 | -€3.1m | -8.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.