SAFIR: 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.
SAFIR
Largest movements
- Stocks and contracts -€52,077
down €52,077 (-22.9%), from €227,529 to €175,452
- Cash +€41,900
up €41,900 (+152.5%), from €27,477 to €69,377
mainly Stocks and contracts (+€52,077) and Net result for the year (+€11,461)
- Trade debts -€11,878
down €11,878 (-68.0%), from €17,462 to €5,584
- Reserves +€11,400
up €11,400 (+85.0%), from €13,409 to €24,809
of which Distributable reserves: +€11,400
- Other debts -€11,248
down €11,248 (-5.7%), from €197,465 to €186,216
- Taxes +€1,246
up €1,246 (+586.8%), from €212 to €1,459
- Gross operating margin +€720
up €720 (+5.2%), from €13,817 to €14,537
- Other operating charges -€522
down €522 (-28.9%), from €1,810 to €1,288
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 | €255,145 | €245,161 | -€9,984 | -3.9% |
| Current assets | 29/58 | €255,145 | €245,161 | -€9,984 | -3.9% |
| Stocks and contracts in progress | 3 | €227,529 | €175,452 | -€52,077 | -22.9% |
| Stocks | 30/36 | €227,529 | €175,452 | -€52,077 | -22.9% |
| Amounts receivable within one year | 40/41 | - | €185 | +€185 | |
| Trade receivables | 40 | - | €185 | +€185 | |
| Cash at bank and in hand | 54/58 | €27,477 | €69,377 | +€41,900 | +152.5% |
| Deferred charges and accrued income | 490/1 | €139 | €148 | +€8 | +6.0% |
| Total equity and liabilities | 10/49 | €255,145 | €245,161 | -€9,984 | -3.9% |
| Equity | 10/15 | €32,014 | €43,475 | +€11,461 | +35.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €13,409 | €24,809 | +€11,400 | +85.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €11,550 | €22,950 | +€11,400 | +98.7% |
| Profit (loss) carried forward | 14 | €13 | €74 | +€61 | +479.6% |
| Amounts payable | 17/49 | €223,131 | €201,686 | -€21,445 | -9.6% |
| Amounts payable within one year | 42/48 | €223,131 | €201,686 | -€21,445 | -9.6% |
| Trade debts | 44 | €17,462 | €5,584 | -€11,878 | -68.0% |
| Suppliers | 440/4 | €17,462 | €5,584 | -€11,878 | -68.0% |
| Taxes, remuneration and social security | 45 | €8,204 | €9,886 | +€1,681 | +20.5% |
| Taxes | 450/3 | €8,204 | €9,886 | +€1,681 | +20.5% |
| Other amounts payable | 47/48 | €197,465 | €186,216 | -€11,248 | -5.7% |
| Other operating charges | 640/8 | €1,810 | €1,288 | -€522 | -28.9% |
| Gross operating margin | 9900 | €13,817 | €14,537 | +€720 | +5.2% |
| Operating profit (loss) | 9901 | €12,007 | €13,249 | +€1,242 | +10.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €328 | €329 | +€1 | +0.4% |
| Recurring financial charges | 65 | €328 | €329 | +€1 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €11,680 | €12,920 | +€1,241 | +10.6% |
| Income taxes | 67/77 | €212 | €1,459 | +€1,246 | +586.8% |
| Profit (loss) for the period | 9904 | €11,467 | €11,461 | -€6 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,467 | €11,461 | -€6 | -0.1% |
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 12 October 2026 via checked.be.