SAFRIMMO: 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.
SAFRIMMO
Largest movements
- Tangible fixed assets -€36,435
down €36,435 (-7.1%), from €516,338 to €479,903
of which Land and buildings: -€24,370
- Cash +€16,267
up €16,267 (+30.4%), from €53,479 to €69,746
mainly Depreciation (+€26,173) and Investment in fixed assets (net) (+€10,261)
- Debts after one year -€27,982
down €27,982 (-14.8%), from €188,647 to €160,665
- Trade debts -€7,700
no longer reported in 2025 (was €7,700)
- Profit (loss) carried forward +€6,739
up €6,739 (+99.5%), from -€6,772 to -€32
- Depreciation -€10,636
down €10,636 (-28.9%), from €36,809 to €26,173
- Taxes +€4,377
new in 2025: €4,377
- Gross operating margin +€1,903
up €1,903 (+4.2%), from €45,108 to €47,012
- Financial charges -€488
down €488 (-8.5%), from €5,746 to €5,258
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 | €577,067 | €553,069 | -€23,998 | -4.2% |
| Fixed assets | 21/28 | €516,338 | €479,903 | -€36,435 | -7.1% |
| Tangible fixed assets | 22/27 | €516,338 | €479,903 | -€36,435 | -7.1% |
| Land and buildings | 22 | €498,693 | €474,323 | -€24,370 | -4.9% |
| Plant, machinery and equipment | 23 | €7,178 | €5,581 | -€1,598 | -22.3% |
| Furniture and vehicles | 24 | €10,466 | - | -€10,466 | |
| Current assets | 29/58 | €60,729 | €73,166 | +€12,437 | +20.5% |
| Amounts receivable within one year | 40/41 | €7,200 | €3,355 | -€3,845 | -53.4% |
| Trade receivables | 40 | €7,200 | €35 | -€7,165 | -99.5% |
| Other amounts receivable | 41 | - | €3,320 | +€3,320 | |
| Cash at bank and in hand | 54/58 | €53,479 | €69,746 | +€16,267 | +30.4% |
| Deferred charges and accrued income | 490/1 | €50 | €64 | +€14 | +27.8% |
| Total equity and liabilities | 10/49 | €577,067 | €553,069 | -€23,998 | -4.2% |
| Equity | 10/15 | €351,828 | €358,568 | +€6,739 | +1.9% |
| Contributions | 10/11 | €358,600 | €358,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,772 | -€32 | +€6,739 | +99.5% |
| Amounts payable | 17/49 | €225,239 | €194,502 | -€30,737 | -13.6% |
| Amounts payable after more than one year | 17 | €188,647 | €160,665 | -€27,982 | -14.8% |
| Financial debts | 170/4 | €188,647 | €160,665 | -€27,982 | -14.8% |
| Amounts payable within one year | 42/48 | €36,592 | €33,836 | -€2,755 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €27,496 | €28,203 | +€706 | +2.6% |
| Trade debts | 44 | €7,700 | - | -€7,700 | |
| Suppliers | 440/4 | €7,700 | - | -€7,700 | |
| Taxes, remuneration and social security | 45 | - | €3,000 | +€3,000 | |
| Taxes | 450/3 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €1,395 | €2,634 | +€1,239 | +88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,809 | €26,173 | -€10,636 | -28.9% |
| Other operating charges | 640/8 | €2,373 | €2,216 | -€157 | -6.6% |
| Non-recurring operating charges | 66A | - | €2,261 | +€2,261 | |
| Gross operating margin | 9900 | €45,108 | €47,012 | +€1,903 | +4.2% |
| Operating profit (loss) | 9901 | €5,927 | €16,361 | +€10,435 | +176% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €5,746 | €5,258 | -€488 | -8.5% |
| Recurring financial charges | 65 | €5,746 | €5,258 | -€488 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €180 | €11,116 | +€10,936 | +6,063% |
| Income taxes | 67/77 | - | €4,377 | +€4,377 | |
| Profit (loss) for the period | 9904 | €180 | €6,739 | +€6,559 | +3,636% |
| Profit (loss) for the period to be appropriated | 9905 | €180 | €6,739 | +€6,559 | +3,636% |
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 30 October 2026 via checked.be.