E & F Consulting: 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 Consulting
Largest movements
- Receivables within one year -€178,802
down €178,802 (-64.3%), from €278,239 to €99,437
of which Trade receivables: -€165,477
- Tangible fixed assets -€89,071
down €89,071 (-3.5%), from €2.6m to €2.5m
of which Land and buildings: -€111,974
- Cash +€79,950
up €79,950 (+197%), from €40,547 to €120,497
mainly Receivables within one year (+€178,802) and Net result for the year (+€145,640)
- Debts after one year -€106,057
down €106,057 (-5.6%), from €1.9m to €1.8m
- Other debts +€68,262
up €68,262 (+24.6%), from €277,245 to €345,506
- Tax, wage and social debts -€67,713
down €67,713 (-96.4%), from €70,263 to €2,550
of which Taxes: -€67,713
- Reserves -€51,886
down €51,886 (-7.5%), from €695,908 to €644,023
of which Distributable reserves: -€45,099
- Gross operating margin -€21,201
down €21,201 (-4.7%), from €447,575 to €426,374
- Financial income +€20,388
up €20,388 (+754%), from €2,703 to €23,091
- Staff costs +€9,752
up €9,752, from -€9,752 to €0
- Depreciation -€9,284
down €9,284 (-6.3%), from €146,705 to €137,422
- Financial charges -€8,775
down €8,775 (-8.9%), from €99,010 to €90,235
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.
Derived cash bridge
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 | €3,127,060 | €2,938,775 | -€188,285 | -6.0% |
| Fixed assets | 21/28 | €2,795,595 | €2,706,523 | -€89,071 | -3.2% |
| Tangible fixed assets | 22/27 | €2,558,066 | €2,468,994 | -€89,071 | -3.5% |
| Land and buildings | 22 | €2,451,822 | €2,339,848 | -€111,974 | -4.6% |
| Plant, machinery and equipment | 23 | €52,362 | €86,735 | +€34,373 | +65.6% |
| Furniture and vehicles | 24 | €53,882 | €42,411 | -€11,471 | -21.3% |
| Financial fixed assets | 28 | €237,529 | €237,529 | = | 0.0% |
| Current assets | 29/58 | €331,465 | €232,251 | -€99,214 | -29.9% |
| Amounts receivable within one year | 40/41 | €278,239 | €99,437 | -€178,802 | -64.3% |
| Trade receivables | 40 | €186,842 | €21,365 | -€165,477 | -88.6% |
| Other amounts receivable | 41 | €91,396 | €78,072 | -€13,324 | -14.6% |
| Cash at bank and in hand | 54/58 | €40,547 | €120,497 | +€79,950 | +197% |
| Deferred charges and accrued income | 490/1 | €12,680 | €12,317 | -€362 | -2.9% |
| Total equity and liabilities | 10/49 | €3,127,060 | €2,938,775 | -€188,285 | -6.0% |
| Equity | 10/15 | €702,208 | €650,323 | -€51,886 | -7.4% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €695,908 | €644,023 | -€51,886 | -7.5% |
| Tax-exempt reserves | 132 | €103,236 | €96,449 | -€6,786 | -6.6% |
| Distributable reserves | 133 | €592,673 | €547,573 | -€45,099 | -7.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €34,412 | €32,150 | -€2,262 | -6.6% |
| Deferred taxes | 168 | €34,412 | €32,150 | -€2,262 | -6.6% |
| Amounts payable | 17/49 | €2,390,440 | €2,256,302 | -€134,138 | -5.6% |
| Amounts payable after more than one year | 17 | €1,889,657 | €1,783,599 | -€106,057 | -5.6% |
| Financial debts | 170/4 | €1,889,657 | €1,783,599 | -€106,057 | -5.6% |
| Amounts payable within one year | 42/48 | €490,140 | €472,703 | -€17,437 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €110,001 | €114,660 | +€4,660 | +4.2% |
| Financial debts | 43 | €11 | €0 | -€11 | -100% |
| Credit institutions | 430/8 | €11 | €0 | -€11 | -100% |
| Trade debts | 44 | €30,540 | €9,986 | -€20,554 | -67.3% |
| Suppliers | 440/4 | €30,540 | €9,986 | -€20,554 | -67.3% |
| Advances received on contracts in progress | 46 | €2,080 | €0 | -€2,080 | -100% |
| Taxes, remuneration and social security | 45 | €70,263 | €2,550 | -€67,713 | -96.4% |
| Taxes | 450/3 | €70,263 | €2,550 | -€67,713 | -96.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €277,245 | €345,506 | +€68,262 | +24.6% |
| Accrued charges and deferred income | 492/3 | €10,643 | €0 | -€10,643 | -100% |
| Non-recurring operating income | 76A | €8,741 | €5,785 | -€2,955 | -33.8% |
| Remuneration, social security and pensions | 62 | -€9,752 | €0 | +€9,752 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,705 | €137,422 | -€9,284 | -6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €11,654 | €12,096 | +€442 | +3.8% |
| Gross operating margin | 9900 | €447,575 | €426,374 | -€21,201 | -4.7% |
| Operating profit (loss) | 9901 | €298,967 | €276,856 | -€22,111 | -7.4% |
| Financial income | 75/76B | €2,703 | €23,091 | +€20,388 | +754% |
| Recurring financial income | 75 | €2,703 | €23,091 | +€20,388 | +754% |
| Financial charges | 65/66B | €99,010 | €90,235 | -€8,775 | -8.9% |
| Recurring financial charges | 65 | €99,010 | €90,235 | -€8,775 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €202,660 | €209,711 | +€7,052 | +3.5% |
| Transfer from deferred taxes | 780 | €2,262 | €2,262 | +€0 | 0.0% |
| Income taxes | 67/77 | €62,725 | €66,334 | +€3,608 | +5.8% |
| Profit (loss) for the period | 9904 | €142,197 | €145,640 | +€3,443 | +2.4% |
| Transfer from tax-exempt reserves | 789 | €6,786 | €6,786 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €148,983 | €152,426 | +€3,443 | +2.3% |
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 28 October 2026 via checked.be.