EFFEX
Dissolved on 22-04-2026Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 12-03-2026 PDF all 2 filings
Equity
€630,410▼ 58.4%
2024 · €1.5m
Total assets
€870,600▼ 48.3%
2024 · €1.7m
Net result
-€884,620▼ 74.9%
2024 · -€505,644
Working capital
-€64,554
2024 · €627,359
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
-€890,211
▼ 61.9%
2025
20242025
Net result
-€884,620
▼ 74.9%
2025
20242025
Equity
€630,410
▼ 58.4%
2025
20242025
Total assets
€870,600
▼ 48.3%
2025
20242025
Debt
€240,190
▲ 42.8%
2025
20242025
Working capital
-€64,554
2025
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€0.5m--€0.9m▼ 61.9%
Net result-€0.5m--€0.9m▼ 74.9%
Equity€1.5m-€0.6m▼ 58.4%
Total assets€1.7m-€0.9m▼ 48.3%
Debt€0.2m-€0.2m▲ 42.8%
Working capital€0.6m--€0.06m
The operating result for 2025 is a loss of €890,211, larger than the loss of €549,945 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €870,600
Fixed assets
€719,730 ▼ 22.8%
Current assets
€150,870 ▼ 79.9%
Equity and liabilities €870,600
Equity
€630,410 ▼ 58.4%
Debt
€240,190 ▲ 42.8%
Debt's share of the balance-sheet total rises from 10.0% to 27.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€677,520▼
2024 · -€426,542
Cash flow
-€671,929▼
2024 · -€382,241
Current ratio
0.70▼
2024 · 6.08
Debt to equity
0.38▲
2024 · 0.11
ROE
-140.3%▼
2024 · -33.4%
ROA
-101.6%▼
2024 · -30.0%
Interest coverage
-474.45▼
2024 · -179.12
Debt ≤ 1 year
€215,424▲
2024 · €123,424
Income taxes
-€125▼
2024 · €125
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €9,516 | - |
| Intangible fixed assets | €1.0m | - |
| Financial fixed assets | - | €0 |
| Depreciation and write-downs of the year | €123,403 | €212,690 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 13 entries · €327,041 awarded · €304,981 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 6 | €15,855 | €78,196 |
| 2024 | 4 | €5,430 | €119,785 |
| 2023 | 3 | €305,756 | €107,000 |
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €123,403 | €212,690 | ▲ 72.4% |
| Other operating charges640/8 | €966 | €151,130 | ▲ 157× |
| Gross operating margin9900 | -€425,576 | -€526,390 | ▼ 23.7% |
| Operating profit (loss)9901 | -€549,945 | -€890,211 | ▼ 61.9% |
| Financial income75/76B | €46,807 | €6,894 | ▼ 85.3% |
| Recurring financial income75 | €46,807 | €6,894 | ▼ 85.3% |
| Financial charges65/66B | €2,381 | €1,428 | ▼ 40.0% |
| Recurring financial charges65 | €2,381 | €1,428 | ▼ 40.0% |
| Profit (loss) for the period before taxes9903 | -€505,519 | -€884,745 | ▼ 75.0% |
| Income taxes67/77 | €125 | -€125 | - |
| Profit (loss) for the period9904 | -€505,644 | -€884,620 | ▼ 74.9% |
| Profit (loss) for the period to be appropriated9905 | -€505,644 | -€884,620 | ▼ 74.9% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.7m | €0.9m | ▼ 48.3% |
| Fixed assets21/28 | €0.9m | €0.7m | ▼ 22.8% |
| Intangible fixed assets21 | €0.9m | €0.7m | ▼ 22.6% |
| Tangible fixed assets22/27 | €0.006m | €0.002m | ▼ 60.6% |
| Furniture and vehicles24 | €0.006m | €0.002m | ▼ 60.6% |
| Current assets29/58 | €0.8m | €0.2m | ▼ 79.9% |
| Amounts receivable within one year40/41 | €0.1m | €0.06m | ▼ 40.7% |
| Trade receivables40 | €0.04m | €0.02m | ▼ 61.5% |
| Other amounts receivable41 | €0.06m | €0.04m | ▼ 25.7% |
| Current investments50/53 | €0.5m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.1m | €0.09m | ▼ 16.6% |
| Deferred charges and accrued income490/1 | €0.05m | €0.003m | ▼ 92.6% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.7m | €0.9m | ▼ 48.3% |
| Equity10/15 | €1.5m | €0.6m | ▼ 58.4% |
| Contributions10/11 | €2.0m | €2.0m | = |
| Profit (loss) carried forward14 | -€0.5m | -€1.4m | ▼ 175% |
| Amounts payable17/49 | €0.2m | €0.2m | ▲ 42.8% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | ▲ 74.5% |
| Financial debts43 | €0.007m | €0 | ▼ 100% |
| Credit institutions430/8 | €0.007m | - | - |
| Other loans439 | - | €0 | - |
| Trade debts44 | €0.1m | €0.06m | ▼ 44.7% |
| Suppliers440/4 | €0.1m | €0.06m | ▼ 44.7% |
| Taxes, remuneration and social security45 | - | €270 | - |
| Taxes450/3 | - | €270 | - |
| Other amounts payable47/48 | €364 | €0.2m | ▲ 416× |
| Accrued charges and deferred income492/3 | €0.04m | €0.02m | ▼ 44.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€505,644 | -€884,620 | ▼ 74.9% |
| + Depreciation and write-downs630 | €123,403 | €212,690 | ▲ 72.4% |
| Operating cash flow (approximation) | -€382,241 | -€671,929 | ▼ 75.8% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | -€17,905 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.