B-EFFICIENT: what changed
Two fiscal 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.
B-EFFICIENT
Largest movements
- Cash -€17,557
down €17,557 (-27.2%), from €64,512 to €46,955
mainly Debts after one year (-€30,177) and Trade debts (-€16,594)
- Receivables within one year -€10,278
down €10,278 (-25.9%), from €39,731 to €29,453
of which Trade receivables: -€10,612
- Tangible fixed assets -€3,828
down €3,828 (-11.6%), from €32,872 to €29,044
of which Furniture and vehicles: -€5,487
- Debts after one year -€30,177
down €30,177 (-100.0%), from €30,177 to €0
- Trade debts -€16,594
down €16,594 (-95.0%), from €17,466 to €872
- Tax, wage and social debts +€8,402
up €8,402 (+66.5%), from €12,629 to €21,031
- Other debts +€7,429
up €7,429 (+12.5%), from €59,384 to €66,813
- Gross operating margin -€39,799
down €39,799 (-55.3%), from €72,014 to €32,215
- Depreciation -€11,133
down €11,133 (-44.1%), from €25,271 to €14,137
- Taxes -€5,334
down €5,334 (-46.0%), from €11,590 to €6,256
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 | €139,643 | €108,639 | -€31,004 | -22.2% |
| Fixed assets | 21/28 | €34,707 | €30,879 | -€3,828 | -11.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €32,872 | €29,044 | -€3,828 | -11.6% |
| Plant, machinery and equipment | 23 | €1,641 | €4,427 | +€2,786 | +169.7% |
| Furniture and vehicles | 24 | €24,037 | €18,550 | -€5,487 | -22.8% |
| Other tangible fixed assets | 26 | €7,194 | €6,067 | -€1,126 | -15.7% |
| Financial fixed assets | 28 | €1,835 | €1,835 | = | 0.0% |
| Current assets | 29/58 | €104,936 | €77,760 | -€27,176 | -25.9% |
| Amounts receivable within one year | 40/41 | €39,731 | €29,453 | -€10,278 | -25.9% |
| Trade receivables | 40 | €36,321 | €25,710 | -€10,612 | -29.2% |
| Other amounts receivable | 41 | €3,410 | €3,744 | +€334 | +9.8% |
| Cash at bank and in hand | 54/58 | €64,512 | €46,955 | -€17,557 | -27.2% |
| Deferred charges and accrued income | 490/1 | €693 | €1,351 | +€658 | +94.9% |
| Total equity and liabilities | 10/49 | €139,643 | €108,639 | -€31,004 | -22.2% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €121,043 | €90,039 | -€31,004 | -25.6% |
| Amounts payable after more than one year | 17 | €30,177 | €0 | -€30,177 | -100.0% |
| Other amounts payable | 178/9 | €30,177 | €0 | -€30,177 | -100.0% |
| Amounts payable within one year | 42/48 | €89,480 | €88,717 | -€763 | -0.9% |
| Trade debts | 44 | €17,466 | €872 | -€16,594 | -95.0% |
| Suppliers | 440/4 | €17,466 | €872 | -€16,594 | -95.0% |
| Taxes, remuneration and social security | 45 | €12,629 | €21,031 | +€8,402 | +66.5% |
| Taxes | 450/3 | €12,629 | €21,031 | +€8,402 | +66.5% |
| Other amounts payable | 47/48 | €59,384 | €66,813 | +€7,429 | +12.5% |
| Accrued charges and deferred income | 492/3 | €1,386 | €1,322 | -€64 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,271 | €14,137 | -€11,133 | -44.1% |
| Other operating charges | 640/8 | €1,163 | €1,195 | +€32 | +2.8% |
| Gross operating margin | 9900 | €72,014 | €32,215 | -€39,799 | -55.3% |
| Operating profit (loss) | 9901 | €45,580 | €16,883 | -€28,698 | -63.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,347 | €1,849 | +€501 | +37.2% |
| Recurring financial charges | 65 | €1,347 | €1,849 | +€501 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €44,233 | €15,034 | -€29,199 | -66.0% |
| Income taxes | 67/77 | €11,590 | €6,256 | -€5,334 | -46.0% |
| Profit (loss) for the period | 9904 | €32,643 | €8,778 | -€23,865 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,643 | €8,778 | -€23,865 | -73.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.