SAFTA: 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.
SAFTA
Largest movements
- Receivables within one year +€147,668
up €147,668 (+110.5%), from €133,649 to €281,317
of which Trade receivables: +€137,458
- Cash +€49,918
up €49,918 (+491.8%), from €10,151 to €60,069
mainly Trade debts (+€285,549) and Depreciation (+€1,525)
- Trade debts +€285,549
up €285,549 (+326.7%), from €87,416 to €372,965
- Profit (loss) carried forward -€62,945
down €62,945 (-1540.4%), from -€4,086 to -€67,031
- Other debts -€20,179
down €20,179 (-75.6%), from €26,679 to €6,500
- Tax, wage and social debts -€5,321
no longer reported in 2025 (was €5,321)
- Gross operating margin -€59,557
down €59,557, from €4,782 to -€54,776
- Financial charges +€4,478
up €4,478 (+253.5%), from €1,766 to €6,245
- Financial income -€2,924
down €2,924 (-96.1%), from €3,043 to €120
- Taxes -€2,080
no longer reported in 2025 (was €2,080)
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 | €153,830 | €350,934 | +€197,104 | +128.1% |
| Fixed assets | 21/28 | €9,448 | €7,923 | -€1,525 | -16.1% |
| Tangible fixed assets | 22/27 | €9,448 | €7,923 | -€1,525 | -16.1% |
| Land and buildings | 22 | €8,056 | €6,962 | -€1,095 | -13.6% |
| Furniture and vehicles | 24 | €1,392 | €961 | -€430 | -30.9% |
| Current assets | 29/58 | €144,382 | €343,011 | +€198,628 | +137.6% |
| Amounts receivable within one year | 40/41 | €133,649 | €281,317 | +€147,668 | +110.5% |
| Trade receivables | 40 | €131,688 | €269,146 | +€137,458 | +104.4% |
| Other amounts receivable | 41 | €1,960 | €12,171 | +€10,210 | +520.9% |
| Cash at bank and in hand | 54/58 | €10,151 | €60,069 | +€49,918 | +491.8% |
| Deferred charges and accrued income | 490/1 | €583 | €1,625 | +€1,042 | +178.8% |
| Total equity and liabilities | 10/49 | €153,830 | €350,934 | +€197,104 | +128.1% |
| Equity | 10/15 | €34,414 | -€28,531 | -€62,945 | |
| Contributions | 10/11 | €38,500 | €38,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,086 | -€67,031 | -€62,945 | -1540.4% |
| Amounts payable | 17/49 | €119,417 | €379,465 | +€260,049 | +217.8% |
| Amounts payable within one year | 42/48 | €119,417 | €379,465 | +€260,049 | +217.8% |
| Trade debts | 44 | €87,416 | €372,965 | +€285,549 | +326.7% |
| Suppliers | 440/4 | €87,416 | €372,965 | +€285,549 | +326.7% |
| Taxes, remuneration and social security | 45 | €5,321 | - | -€5,321 | |
| Taxes | 450/3 | €5,321 | - | -€5,321 | |
| Other amounts payable | 47/48 | €26,679 | €6,500 | -€20,179 | -75.6% |
| Non-recurring operating income | 76A | €24,071 | - | -€24,071 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,975 | €1,525 | -€450 | -22.8% |
| Other operating charges | 640/8 | €831 | €520 | -€311 | -37.5% |
| Gross operating margin | 9900 | €4,782 | -€54,776 | -€59,557 | |
| Operating profit (loss) | 9901 | €1,976 | -€56,820 | -€58,796 | |
| Financial income | 75/76B | €3,043 | €120 | -€2,924 | -96.1% |
| Recurring financial income | 75 | €3,043 | €120 | -€2,924 | -96.1% |
| Financial charges | 65/66B | €1,766 | €6,245 | +€4,478 | +253.5% |
| Recurring financial charges | 65 | €1,766 | €6,245 | +€4,478 | +253.5% |
| Profit (loss) for the period before taxes | 9903 | €3,253 | -€62,945 | -€66,198 | |
| Income taxes | 67/77 | €2,080 | - | -€2,080 | |
| Profit (loss) for the period | 9904 | €1,173 | -€62,945 | -€64,118 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,173 | -€62,945 | -€64,118 |
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 11 October 2026 via checked.be.