SAFINVES: 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.
SAFINVES
Largest movements
- Financial fixed assets +€1.0m
up €1.0m (+6.0%), from €17.5m to €18.5m
- Current investments -€615,539
down €615,539 (-35.8%), from €1.7m to €1.1m
- Reserves +€427,850
up €427,850 (+2.2%), from €19.2m to €19.6m
of which Distributable reserves: +€427,850
- Financial charges +€722,144
up €722,144 (+19,698%), from €3,666 to €725,810
of which Non-recurring financial charges: +€709,369
- Financial income +€65,612
up €65,612 (+3.4%), from €1.9m to €2.0m
of which Financial income: +€295,956
- Taxes -€61,730
down €61,730 (-37.5%), from €164,500 to €102,770
- Gross operating margin -€27,050
down €27,050 (-29.5%), from -€91,704 to -€118,753
- Other operating charges -€4,454
down €4,454 (-14.1%), from €31,518 to €27,064
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 | €19,460,804 | €19,843,219 | +€382,415 | +2.0% |
| Fixed assets | 21/28 | €17,467,424 | €18,513,274 | +€1.0m | +6.0% |
| Financial fixed assets | 28 | €17,467,424 | €18,513,274 | +€1.0m | +6.0% |
| Current assets | 29/58 | €1,993,380 | €1,329,946 | -€663,435 | -33.3% |
| Amounts receivable within one year | 40/41 | €265,532 | €208,912 | -€56,620 | -21.3% |
| Other amounts receivable | 41 | €265,532 | €208,912 | -€56,620 | -21.3% |
| Current investments | 50/53 | €1,720,219 | €1,104,680 | -€615,539 | -35.8% |
| Cash at bank and in hand | 54/58 | €7,630 | €16,354 | +€8,724 | +114% |
| Total equity and liabilities | 10/49 | €19,460,804 | €19,843,219 | +€382,415 | +2.0% |
| Equity | 10/15 | €19,413,802 | €19,841,651 | +€427,850 | +2.2% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €19,163,802 | €19,591,651 | +€427,850 | +2.2% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €19,138,802 | €19,566,651 | +€427,850 | +2.2% |
| Amounts payable | 17/49 | €47,002 | €1,568 | -€45,434 | -96.7% |
| Amounts payable within one year | 42/48 | €47,002 | €1,568 | -€45,434 | -96.7% |
| Trade debts | 44 | €2,002 | €1,568 | -€434 | -21.7% |
| Suppliers | 440/4 | €2,002 | €1,568 | -€434 | -21.7% |
| Other amounts payable | 47/48 | €45,000 | - | -€45,000 | |
| Other operating charges | 640/8 | €31,518 | €27,064 | -€4,454 | -14.1% |
| Gross operating margin | 9900 | -€91,704 | -€118,753 | -€27,050 | -29.5% |
| Operating profit (loss) | 9901 | -€123,222 | -€145,817 | -€22,595 | -18.3% |
| Financial income | 75/76B | €1,936,635 | €2,002,247 | +€65,612 | +3.4% |
| Recurring financial income | 75 | €889,413 | €1,185,369 | +€295,956 | +33.3% |
| Non-recurring financial income | 76B | €1,047,221 | €816,878 | -€230,344 | -22.0% |
| Financial charges | 65/66B | €3,666 | €725,810 | +€722,144 | +19,698% |
| Recurring financial charges | 65 | €3,666 | €16,441 | +€12,775 | +348% |
| Non-recurring financial charges | 66B | - | €709,369 | +€709,369 | |
| Profit (loss) for the period before taxes | 9903 | €1,809,747 | €1,130,620 | -€679,127 | -37.5% |
| Income taxes | 67/77 | €164,500 | €102,770 | -€61,730 | -37.5% |
| Profit (loss) for the period | 9904 | €1,645,247 | €1,027,850 | -€617,397 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,645,247 | €1,027,850 | -€617,397 | -37.5% |
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 17 October 2026 via checked.be.