EDEFAYS: 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.
EDEFAYS
Largest movements
- Receivables within one year +€31,270
up €31,270 (+43.9%), from €71,231 to €102,501
- Cash +€12,795
up €12,795 (+123%), from €10,444 to €23,239
mainly Net result for the year (+€37,669) and Tax, wage and social debts (+€5,454)
- Tangible fixed assets -€2,300
down €2,300 (-73.1%), from €3,145 to €845
- Reserves +€37,669
up €37,669 (+65.8%), from €57,228 to €94,896
- Tax, wage and social debts +€5,454
up €5,454 (+25.9%), from €21,066 to €26,520
of which Taxes: +€3,030
- Debts after one year -€2,299
no longer reported in 2025 (was €2,299)
- Gross operating margin +€6,891
up €6,891 (+15.6%), from €44,124 to €51,016
- Taxes +€2,805
up €2,805 (+22.9%), from €12,238 to €15,043
- Financial income +€1,257
up €1,257 (+36.0%), from €3,488 to €4,745
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 | €85,165 | €126,840 | +€41,675 | +48.9% |
| Fixed assets | 21/28 | €3,197 | €897 | -€2,300 | -71.9% |
| Tangible fixed assets | 22/27 | €3,145 | €845 | -€2,300 | -73.1% |
| Furniture and vehicles | 24 | €3,145 | €845 | -€2,300 | -73.1% |
| Financial fixed assets | 28 | €52 | €52 | = | 0.0% |
| Current assets | 29/58 | €81,968 | €125,943 | +€43,975 | +53.6% |
| Amounts receivable within one year | 40/41 | €71,231 | €102,501 | +€31,270 | +43.9% |
| Other amounts receivable | 41 | €71,231 | €102,501 | +€31,270 | +43.9% |
| Cash at bank and in hand | 54/58 | €10,444 | €23,239 | +€12,795 | +123% |
| Deferred charges and accrued income | 490/1 | €293 | €203 | -€90 | -30.8% |
| Total equity and liabilities | 10/49 | €85,165 | €126,840 | +€41,675 | +48.9% |
| Equity | 10/15 | €59,728 | €97,396 | +€37,669 | +63.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €57,228 | €94,896 | +€37,669 | +65.8% |
| Distributable reserves | 133 | €57,228 | €94,896 | +€37,669 | +65.8% |
| Amounts payable | 17/49 | €25,438 | €29,444 | +€4,006 | +15.7% |
| Amounts payable after more than one year | 17 | €2,299 | - | -€2,299 | |
| Financial debts | 170/4 | €2,299 | - | -€2,299 | |
| Amounts payable within one year | 42/48 | €23,138 | €29,444 | +€6,306 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €2,029 | €2,299 | +€271 | +13.3% |
| Trade debts | 44 | €43 | €624 | +€581 | +1,340% |
| Suppliers | 440/4 | €43 | €624 | +€581 | +1,340% |
| Taxes, remuneration and social security | 45 | €21,066 | €26,520 | +€5,454 | +25.9% |
| Taxes | 450/3 | €18,626 | €21,656 | +€3,030 | +16.3% |
| Remuneration and social security | 454/9 | €2,440 | €4,864 | +€2,424 | +99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,300 | €2,300 | = | 0.0% |
| Other operating charges | 640/8 | €616 | €521 | -€95 | -15.3% |
| Gross operating margin | 9900 | €44,124 | €51,016 | +€6,891 | +15.6% |
| Operating profit (loss) | 9901 | €41,209 | €48,194 | +€6,986 | +17.0% |
| Financial income | 75/76B | €3,488 | €4,745 | +€1,257 | +36.0% |
| Recurring financial income | 75 | €3,488 | €4,745 | +€1,257 | +36.0% |
| Financial charges | 65/66B | €291 | €227 | -€64 | -21.8% |
| Recurring financial charges | 65 | €291 | €227 | -€64 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €44,405 | €52,712 | +€8,307 | +18.7% |
| Income taxes | 67/77 | €12,238 | €15,043 | +€2,805 | +22.9% |
| Profit (loss) for the period | 9904 | €32,167 | €37,669 | +€5,502 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,167 | €37,669 | +€5,502 | +17.1% |
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 18 October 2026 via checked.be.