EF: 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.
EF
Largest movements
- Cash +€6,988
up €6,988 (+28.4%), from €24,636 to €31,624
mainly Net result for the year (+€36,484) and Tax, wage and social debts (+€22,414)
- Receivables within one year +€4,219
up €4,219 (+20.4%), from €20,728 to €24,947
of which Trade receivables: +€4,352
- Tangible fixed assets -€1,475
down €1,475 (-45.7%), from €3,229 to €1,754
of which Plant, machinery and equipment: -€969
- Other debts -€60,682
down €60,682 (-40.1%), from €151,166 to €90,484
- Profit (loss) carried forward +€36,484
up €36,484 (+21.3%), from -€171,403 to -€134,919
- Tax, wage and social debts +€22,414
up €22,414 (+91.5%), from €24,494 to €46,908
of which Remuneration and social security: +€15,741
- Trade debts +€11,714
up €11,714 (+43.5%), from €26,954 to €38,668
- Gross operating margin +€50,218
up €50,218 (+54.9%), from €91,550 to €141,768
- Staff costs -€26,389
down €26,389 (-21.3%), from €123,695 to €97,306
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,671 | €61,601 | +€9,930 | +19.2% |
| Fixed assets | 21/28 | €3,229 | €1,754 | -€1,475 | -45.7% |
| Tangible fixed assets | 22/27 | €3,229 | €1,754 | -€1,475 | -45.7% |
| Plant, machinery and equipment | 23 | €2,216 | €1,247 | -€969 | -43.7% |
| Furniture and vehicles | 24 | €1,013 | €507 | -€506 | -50.0% |
| Current assets | 29/58 | €48,442 | €59,847 | +€11,405 | +23.5% |
| Stocks and contracts in progress | 3 | €3,078 | €3,276 | +€198 | +6.4% |
| Stocks | 30/36 | €3,078 | €3,276 | +€198 | +6.4% |
| Amounts receivable within one year | 40/41 | €20,728 | €24,947 | +€4,219 | +20.4% |
| Trade receivables | 40 | €20,595 | €24,947 | +€4,352 | +21.1% |
| Other amounts receivable | 41 | €133 | - | -€133 | |
| Cash at bank and in hand | 54/58 | €24,636 | €31,624 | +€6,988 | +28.4% |
| Total equity and liabilities | 10/49 | €51,671 | €61,601 | +€9,930 | +19.2% |
| Equity | 10/15 | -€150,943 | -€114,459 | +€36,484 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€171,403 | -€134,919 | +€36,484 | +21.3% |
| Amounts payable | 17/49 | €202,614 | €176,060 | -€26,554 | -13.1% |
| Amounts payable within one year | 42/48 | €202,614 | €176,060 | -€26,554 | -13.1% |
| Trade debts | 44 | €26,954 | €38,668 | +€11,714 | +43.5% |
| Suppliers | 440/4 | €26,954 | €38,668 | +€11,714 | +43.5% |
| Taxes, remuneration and social security | 45 | €24,494 | €46,908 | +€22,414 | +91.5% |
| Taxes | 450/3 | €7,376 | €14,049 | +€6,673 | +90.5% |
| Remuneration and social security | 454/9 | €17,118 | €32,859 | +€15,741 | +92.0% |
| Other amounts payable | 47/48 | €151,166 | €90,484 | -€60,682 | -40.1% |
| Non-recurring operating income | 76A | - | €51,585 | +€51,585 | |
| Remuneration, social security and pensions | 62 | €123,695 | €97,306 | -€26,389 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,525 | €1,475 | -€50 | -3.3% |
| Other operating charges | 640/8 | €4,217 | €3,795 | -€422 | -10.0% |
| Gross operating margin | 9900 | €91,550 | €141,768 | +€50,218 | +54.9% |
| Operating profit (loss) | 9901 | -€37,887 | €39,192 | +€77,079 | |
| Financial income | 75/76B | €15 | €4 | -€11 | -73.3% |
| Recurring financial income | 75 | €15 | €4 | -€11 | -73.3% |
| Financial charges | 65/66B | €3,245 | €2,712 | -€533 | -16.4% |
| Recurring financial charges | 65 | €3,245 | €2,712 | -€533 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | -€41,117 | €36,484 | +€77,601 | |
| Profit (loss) for the period | 9904 | -€41,117 | €36,484 | +€77,601 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,117 | €36,484 | +€77,601 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.