SAFOX: 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.
SAFOX
Largest movements
- Receivables within one year -€135,465
down €135,465 (-13.2%), from €1.0m to €891,069
of which Trade receivables: -€74,255
- Cash +€76,422
up €76,422 (+122%), from €62,844 to €139,267
mainly Receivables within one year (+€135,465) and Net result for the year (+€116,021)
- Deferred charges and accrued income +€26,683
up €26,683 (+712%), from €3,747 to €30,430
- Accrued charges and deferred income -€130,290
down €130,290 (-33.5%), from €388,431 to €258,142
- Other debts +€114,888
up €114,888 (+7,652%), from €1,502 to €116,389
- Provisions -€39,000
down €39,000 (-100%), from €39,000 to €0
- Trade debts +€26,898
up €26,898 (+12.7%), from €211,177 to €238,075
- Tax, wage and social debts +€15,973
up €15,973 (+8.4%), from €189,953 to €205,926
of which Remuneration and social security: +€34,013
- Gross operating margin +€97,339
up €97,339 (+24.0%), from €405,622 to €502,961
- Provisions -€62,142
down €62,142, from €23,142 to -€39,000
- Staff costs +€49,523
up €49,523 (+16.7%), from €296,318 to €345,841
- Other operating charges +€21,230
up €21,230 (+989%), from €2,146 to €23,376
- Taxes -€5,891
down €5,891 (-16.8%), from €35,000 to €29,109
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 | €1,123,753 | €1,106,035 | -€17,718 | -1.6% |
| Fixed assets | 21/28 | €30,628 | €45,270 | +€14,642 | +47.8% |
| Intangible fixed assets | 21 | - | €10,825 | +€10,825 | |
| Tangible fixed assets | 22/27 | €30,628 | €34,444 | +€3,817 | +12.5% |
| Furniture and vehicles | 24 | €9,699 | €19,805 | +€10,107 | +104% |
| Leasing and similar rights | 25 | €20,929 | €14,639 | -€6,290 | -30.1% |
| Current assets | 29/58 | €1,093,125 | €1,060,765 | -€32,360 | -3.0% |
| Amounts receivable within one year | 40/41 | €1,026,534 | €891,069 | -€135,465 | -13.2% |
| Trade receivables | 40 | €208,086 | €133,832 | -€74,255 | -35.7% |
| Other amounts receivable | 41 | €818,448 | €757,237 | -€61,211 | -7.5% |
| Cash at bank and in hand | 54/58 | €62,844 | €139,267 | +€76,422 | +122% |
| Deferred charges and accrued income | 490/1 | €3,747 | €30,430 | +€26,683 | +712% |
| Total equity and liabilities | 10/49 | €1,123,753 | €1,106,035 | -€17,718 | -1.6% |
| Equity | 10/15 | €272,454 | €272,475 | +€21 | 0.0% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €234,454 | €234,475 | +€21 | 0.0% |
| Tax-exempt reserves | 132 | €3,803 | €3,803 | = | 0.0% |
| Distributable reserves | 133 | €230,651 | €230,672 | +€21 | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €39,000 | €0 | -€39,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €39,000 | €0 | -€39,000 | -100% |
| Other liabilities and charges | 164/5 | €39,000 | €0 | -€39,000 | -100% |
| Amounts payable | 17/49 | €812,299 | €833,560 | +€21,261 | +2.6% |
| Amounts payable after more than one year | 17 | €15,029 | €8,537 | -€6,492 | -43.2% |
| Financial debts | 170/4 | €15,029 | €8,537 | -€6,492 | -43.2% |
| Amounts payable within one year | 42/48 | €408,839 | €566,882 | +€158,043 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €6,207 | €6,492 | +€285 | +4.6% |
| Trade debts | 44 | €211,177 | €238,075 | +€26,898 | +12.7% |
| Suppliers | 440/4 | €211,177 | €238,075 | +€26,898 | +12.7% |
| Taxes, remuneration and social security | 45 | €189,953 | €205,926 | +€15,973 | +8.4% |
| Taxes | 450/3 | €112,663 | €94,623 | -€18,040 | -16.0% |
| Remuneration and social security | 454/9 | €77,290 | €111,303 | +€34,013 | +44.0% |
| Other amounts payable | 47/48 | €1,502 | €116,389 | +€114,888 | +7,652% |
| Accrued charges and deferred income | 492/3 | €388,431 | €258,142 | -€130,290 | -33.5% |
| Non-recurring operating income | 76A | - | €30,799 | +€30,799 | |
| Remuneration, social security and pensions | 62 | €296,318 | €345,841 | +€49,523 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,269 | €14,543 | +€3,274 | +29.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €23,142 | -€39,000 | -€62,142 | |
| Other operating charges | 640/8 | €2,146 | €23,376 | +€21,230 | +989% |
| Gross operating margin | 9900 | €405,622 | €502,961 | +€97,339 | +24.0% |
| Operating profit (loss) | 9901 | €72,748 | €158,202 | +€85,454 | +117% |
| Financial income | 75/76B | €24,720 | €22,980 | -€1,739 | -7.0% |
| Recurring financial income | 75 | €24,720 | €22,980 | -€1,739 | -7.0% |
| Financial charges | 65/66B | €32,959 | €36,052 | +€3,094 | +9.4% |
| Recurring financial charges | 65 | €32,959 | €36,052 | +€3,094 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €64,509 | €145,130 | +€80,621 | +125% |
| Income taxes | 67/77 | €35,000 | €29,109 | -€5,891 | -16.8% |
| Profit (loss) for the period | 9904 | €29,509 | €116,021 | +€86,512 | +293% |
| Profit (loss) for the period to be appropriated | 9905 | €29,509 | €116,021 | +€86,512 | +293% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.