E.F.: 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.
E.F.
Largest movements
- Receivables within one year -€2,036
down €2,036 (-10.4%), from €19,524 to €17,488
of which Trade receivables: -€3,931
- Tangible fixed assets +€1,544
up €1,544 (+37.6%), from €4,110 to €5,654
of which Plant, machinery and equipment: +€4,473
- Other debts +€23,087
up €23,087 (+302%), from €7,637 to €30,724
- Trade debts -€7,995
down €7,995 (-88.5%), from €9,031 to €1,036
- Debts after one year -€7,866
no longer reported in 2025 (was €7,866)
- Profit (loss) carried forward -€4,236
down €4,236 (-20.1%), from -€21,097 to -€25,333
- Tax, wage and social debts -€2,885
down €2,885 (-94.9%), from €3,041 to €157
- Gross operating margin +€12,410
up €12,410, from -€1,257 to €11,152
- Depreciation +€2,122
up €2,122 (+174%), from €1,221 to €3,343
- Financial charges -€521
down €521 (-51.9%), from €1,004 to €483
- Other operating charges +€134
up €134 (+36.0%), from €373 to €507
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,834 | €23,303 | -€531 | -2.2% |
| Fixed assets | 21/28 | €4,110 | €5,654 | +€1,544 | +37.6% |
| Tangible fixed assets | 22/27 | €4,110 | €5,654 | +€1,544 | +37.6% |
| Plant, machinery and equipment | 23 | - | €4,473 | +€4,473 | |
| Furniture and vehicles | 24 | €4,110 | €1,181 | -€2,929 | -71.3% |
| Current assets | 29/58 | €19,724 | €17,649 | -€2,074 | -10.5% |
| Amounts receivable within one year | 40/41 | €19,524 | €17,488 | -€2,036 | -10.4% |
| Trade receivables | 40 | €5,479 | €1,548 | -€3,931 | -71.8% |
| Other amounts receivable | 41 | €14,044 | €15,940 | +€1,896 | +13.5% |
| Cash at bank and in hand | 54/58 | €5 | €161 | +€156 | +3,144% |
| Deferred charges and accrued income | 490/1 | €195 | - | -€195 | |
| Total equity and liabilities | 10/49 | €23,834 | €23,303 | -€531 | -2.2% |
| Equity | 10/15 | -€7,764 | -€12,000 | -€4,236 | -54.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €7,133 | €7,133 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,273 | €5,273 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,097 | -€25,333 | -€4,236 | -20.1% |
| Amounts payable | 17/49 | €31,598 | €35,303 | +€3,705 | +11.7% |
| Amounts payable after more than one year | 17 | €7,866 | - | -€7,866 | |
| Financial debts | 170/4 | €7,866 | - | -€7,866 | |
| Amounts payable within one year | 42/48 | €23,732 | €35,303 | +€11,571 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | €4,022 | €3,386 | -€636 | -15.8% |
| Trade debts | 44 | €9,031 | €1,036 | -€7,995 | -88.5% |
| Suppliers | 440/4 | €9,031 | €1,036 | -€7,995 | -88.5% |
| Taxes, remuneration and social security | 45 | €3,041 | €157 | -€2,885 | -94.9% |
| Taxes | 450/3 | €3,041 | €157 | -€2,885 | -94.9% |
| Other amounts payable | 47/48 | €7,637 | €30,724 | +€23,087 | +302% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,221 | €3,343 | +€2,122 | +174% |
| Other operating charges | 640/8 | €373 | €507 | +€134 | +36.0% |
| Gross operating margin | 9900 | -€1,257 | €11,152 | +€12,410 | |
| Operating profit (loss) | 9901 | -€2,851 | €7,302 | +€10,154 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.2% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.2% |
| Financial charges | 65/66B | €1,004 | €483 | -€521 | -51.9% |
| Recurring financial charges | 65 | €1,004 | €483 | -€521 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,850 | €6,819 | +€10,669 | |
| Profit (loss) for the period | 9904 | -€3,850 | €6,819 | +€10,669 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,850 | €6,819 | +€10,669 |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.