SAFRAM: 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.
SAFRAM
Largest movements
- Tangible fixed assets -€13,619
down €13,619 (-31.6%), from €43,116 to €29,498
- Cash -€8,132
down €8,132 (-63.7%), from €12,761 to €4,629
mainly Net result for the year (-€9,683) and Debts after one year (-€6,875)
- Receivables within one year +€1,410
up €1,410 (+263%), from €536 to €1,946
of which Trade receivables: +€1,410
- Profit (loss) carried forward -€9,683
down €9,683 (-28.5%), from -€33,946 to -€43,629
- Debts after one year -€6,875
down €6,875 (-28.4%), from €24,243 to €17,368
- Trade debts -€4,398
down €4,398 (-43.3%), from €10,155 to €5,756
- Tax, wage and social debts +€748
up €748 (+4.9%), from €15,381 to €16,130
of which Taxes: +€2,386
- Gross operating margin +€11,237
up €11,237 (+73.2%), from €15,358 to €26,595
- Staff costs -€7,995
down €7,995 (-28.0%), from €28,510 to €20,514
- Depreciation +€2,479
up €2,479 (+22.2%), from €11,140 to €13,619
- Other operating charges +€471
new in 2025: €471
- Financial charges +€377
up €377 (+29.1%), from €1,297 to €1,674
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 | €56,413 | €36,073 | -€20,340 | -36.1% |
| Fixed assets | 21/28 | €43,116 | €29,498 | -€13,619 | -31.6% |
| Tangible fixed assets | 22/27 | €43,116 | €29,498 | -€13,619 | -31.6% |
| Furniture and vehicles | 24 | €43,116 | €29,498 | -€13,619 | -31.6% |
| Current assets | 29/58 | €13,297 | €6,575 | -€6,722 | -50.6% |
| Amounts receivable within one year | 40/41 | €536 | €1,946 | +€1,410 | +263% |
| Trade receivables | 40 | €386 | €1,796 | +€1,410 | +365% |
| Other amounts receivable | 41 | €150 | €150 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,761 | €4,629 | -€8,132 | -63.7% |
| Total equity and liabilities | 10/49 | €56,413 | €36,073 | -€20,340 | -36.1% |
| Equity | 10/15 | -€26,196 | -€35,879 | -€9,683 | -37.0% |
| Contributions | 10/11 | €7,750 | €7,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,946 | -€43,629 | -€9,683 | -28.5% |
| Amounts payable | 17/49 | €82,609 | €71,952 | -€10,657 | -12.9% |
| Amounts payable after more than one year | 17 | €24,243 | €17,368 | -€6,875 | -28.4% |
| Financial debts | 170/4 | €24,243 | €17,368 | -€6,875 | -28.4% |
| Amounts payable within one year | 42/48 | €58,366 | €54,584 | -€3,783 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €6,556 | €6,875 | +€319 | +4.9% |
| Trade debts | 44 | €10,155 | €5,756 | -€4,398 | -43.3% |
| Suppliers | 440/4 | €10,155 | €5,756 | -€4,398 | -43.3% |
| Taxes, remuneration and social security | 45 | €15,381 | €16,130 | +€748 | +4.9% |
| Taxes | 450/3 | €479 | €2,865 | +€2,386 | +498% |
| Remuneration and social security | 454/9 | €14,903 | €13,265 | -€1,638 | -11.0% |
| Other amounts payable | 47/48 | €26,274 | €25,823 | -€451 | -1.7% |
| Remuneration, social security and pensions | 62 | €28,510 | €20,514 | -€7,995 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,140 | €13,619 | +€2,479 | +22.2% |
| Other operating charges | 640/8 | - | €471 | +€471 | |
| Gross operating margin | 9900 | €15,358 | €26,595 | +€11,237 | +73.2% |
| Operating profit (loss) | 9901 | -€24,292 | -€8,009 | +€16,283 | +67.0% |
| Financial charges | 65/66B | €1,297 | €1,674 | +€377 | +29.1% |
| Recurring financial charges | 65 | €1,297 | €1,674 | +€377 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | -€25,588 | -€9,683 | +€15,905 | +62.2% |
| Profit (loss) for the period | 9904 | -€25,588 | -€9,683 | +€15,905 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,588 | -€9,683 | +€15,905 | +62.2% |
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 26 October 2026 via checked.be.