Safuco: what changed
What changed
Safuco
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€36.3m
2024 · €3.1m+€33.2m
Equity
€90.0m
2024 · €87.0m+€3.0m
Cash
-
2024 · €125,331-€125,331
Balance sheet total
€127.5m
2024 · €125.0m+€2.5m
Largest movements
Assets
- Receivables within one year +€2.6m
up €2.6m (+773%), from €341,736 to €3.0m
of which Other amounts receivable: +€2.7m
Equity and liabilities
- Profit (loss) carried forward +€3.0m
up €3.0m (+93.8%), from -€3.2m to -€195,788
Income statement
- Financial income +€28.2m
up €28.2m (+301%), from €9.4m to €37.6m
of which Financial income: +€30.6m
- Financial charges -€5.1m
down €5.1m (-73.8%), from €6.9m to €1.8m
of which Non-recurring financial charges: -€6.4m
- Turnover -€579,690
down €579,690 (-52.5%), from €1.1m to €524,910
- Services and other goods -€434,804
down €434,804 (-96.7%), from €449,722 to €14,918
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€3.1m
Turnover
-€579,690
Other operating income
-€4,315
Services and other goods
+€434,804
Other operating charges
-€11
Other operating items
+€32,352
Financial income
+€28.2m
Financial charges
+€5.1m
Result 2025
€36.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€33.2m
Investment
+€5,008
Financing
-€33.3m
Cash 2024
€125,331
From operations (derived)
+€33.2m
Net result for the year
+€36.3m
Receivables within one year
-€2.6m
Smaller working-capital items
-€24,313
Trade debts
-€112,416
Other debts
-€331,672
Investment (derived)
+€5,008
Investment in fixed assets (net)
+€5,008
Financing
-€33.3m
Contributions, distributions and other
-€33.3m
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,017,266 | €127,543,524 | +€2.5m | +2.0% |
| Formation expenses | 20 | €59,875 | €54,867 | -€5,008 | -8.4% |
| Fixed assets | 21/28 | €124,488,984 | €124,488,984 | = | 0.0% |
| Financial fixed assets | 28 | €124,488,984 | €124,488,984 | = | 0.0% |
| Affiliated companies | 280/1 | €124,488,984 | €124,488,984 | = | 0.0% |
| Participating interests | 280 | €124,488,984 | €124,488,984 | = | 0.0% |
| Current assets | 29/58 | €468,407 | €2,999,673 | +€2.5m | +540% |
| Amounts receivable within one year | 40/41 | €341,736 | €2,982,475 | +€2.6m | +773% |
| Trade receivables | 40 | €75,988 | - | -€75,988 | |
| Other amounts receivable | 41 | €265,748 | €2,982,475 | +€2.7m | +1,022% |
| Cash at bank and in hand | 54/58 | €125,331 | - | -€125,331 | |
| Deferred charges and accrued income | 490/1 | €1,341 | €17,198 | +€15,857 | +1,183% |
| Total equity and liabilities | 10/49 | €125,017,266 | €127,543,524 | +€2.5m | +2.0% |
| Equity | 10/15 | €87,025,411 | €90,004,212 | +€3.0m | +3.4% |
| Contributions | 10/11 | €82,000,000 | €82,000,000 | = | 0.0% |
| Capital | 10 | €82,000,000 | €82,000,000 | = | 0.0% |
| Issued capital | 100 | €82,000,000 | €82,000,000 | = | 0.0% |
| Reserves | 13 | €8,200,000 | €8,200,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,200,000 | €8,200,000 | = | 0.0% |
| Legal reserve | 130 | €8,200,000 | €8,200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,174,589 | -€195,788 | +€3.0m | +93.8% |
| Amounts payable | 17/49 | €37,991,856 | €37,539,312 | -€452,543 | -1.2% |
| Amounts payable after more than one year | 17 | €37,500,000 | €37,500,000 | = | 0.0% |
| Other amounts payable | 178/9 | €37,500,000 | €37,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €452,970 | €3,404 | -€449,565 | -99.2% |
| Trade debts | 44 | €115,820 | €3,404 | -€112,416 | -97.1% |
| Suppliers | 440/4 | €115,820 | €3,404 | -€112,416 | -97.1% |
| Taxes, remuneration and social security | 45 | €5,477 | - | -€5,477 | |
| Taxes | 450/3 | €5,477 | - | -€5,477 | |
| Other amounts payable | 47/48 | €331,672 | - | -€331,672 | |
| Accrued charges and deferred income | 492/3 | €38,886 | €35,908 | -€2,978 | -7.7% |
| Operating income | 70/76A | €1,108,915 | €525,107 | -€583,808 | -52.6% |
| Turnover | 70 | €1,104,600 | €524,910 | -€579,690 | -52.5% |
| Other operating income | 74 | €4,315 | - | -€4,315 | |
| Non-recurring operating income | 76A | - | €197 | +€197 | |
| Operating charges | 60/66A | €482,978 | €16,030 | -€466,948 | -96.7% |
| Services and other goods | 61 | €449,722 | €14,918 | -€434,804 | -96.7% |
| Other operating charges | 640/8 | €1,101 | €1,112 | +€11 | +1.0% |
| Non-recurring operating charges | 66A | €32,155 | - | -€32,155 | |
| Operating profit (loss) | 9901 | €625,938 | €509,077 | -€116,861 | -18.7% |
| Financial income | 75/76B | €9,369,070 | €37,587,762 | +€28.2m | +301% |
| Recurring financial income | 75 | €7,011,070 | €37,587,762 | +€30.6m | +436% |
| Income from financial fixed assets | 750 | €7,000,000 | €37,500,000 | +€30.5m | +436% |
| Income from current assets | 751 | €11,070 | €87,762 | +€76,692 | +693% |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €2,358,000 | - | -€2.4m | |
| Financial charges | 65/66B | €6,938,085 | €1,818,038 | -€5.1m | -73.8% |
| Recurring financial charges | 65 | €509,514 | €1,818,038 | +€1.3m | +257% |
| Debt charges | 650 | €509,342 | €1,817,627 | +€1.3m | +257% |
| Other financial charges | 652/9 | €172 | €411 | +€239 | +139% |
| Non-recurring financial charges | 66B | €6,428,571 | - | -€6.4m | |
| Profit (loss) for the period before taxes | 9903 | €3,056,923 | €36,278,801 | +€33.2m | +1,087% |
| Profit (loss) for the period | 9904 | €3,056,923 | €36,278,801 | +€33.2m | +1,087% |
| Profit (loss) for the period to be appropriated | 9905 | €3,056,923 | €36,278,801 | +€33.2m | +1,087% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.