EF EDUCATION: 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 EDUCATION
Largest movements
- Receivables within one year +€304,805
up €304,805 (+24.5%), from €1.2m to €1.5m
- Deferred charges and accrued income -€62,193
down €62,193 (-35.3%), from €175,978 to €113,786
- Cash -€37,499
down €37,499 (-57.1%), from €65,707 to €28,208
mainly Receivables within one year (-€304,805) and Tax, wage and social debts (-€151,022)
- Tangible fixed assets -€24,427
down €24,427 (-25.5%), from €95,881 to €71,454
of which Other tangible fixed assets: -€13,575
- Profit (loss) carried forward +€207,274
up €207,274 (+20.7%), from €1.0m to €1.2m
- Tax, wage and social debts -€151,022
down €151,022 (-45.4%), from €332,832 to €181,810
of which Remuneration and social security: -€108,822
- Trade debts +€134,037
up €134,037 (+209%), from €64,137 to €198,174
- Turnover -€3.1m
no longer reported in 2025 (was €3.1m)
- Purchases and services -€1.1m
no longer reported in 2025 (was €1.1m)
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 | €1,810,594 | €1,991,281 | +€180,687 | +10.0% |
| Fixed assets | 21/28 | €324,053 | €299,627 | -€24,427 | -7.5% |
| Tangible fixed assets | 22/27 | €95,881 | €71,454 | -€24,427 | -25.5% |
| Plant, machinery and equipment | 23 | €60,167 | €49,316 | -€10,851 | -18.0% |
| Other tangible fixed assets | 26 | €35,714 | €22,139 | -€13,575 | -38.0% |
| Financial fixed assets | 28 | €228,172 | €228,172 | = | 0.0% |
| Current assets | 29/58 | €1,486,541 | €1,691,654 | +€205,113 | +13.8% |
| Amounts receivable within one year | 40/41 | €1,244,856 | €1,549,661 | +€304,805 | +24.5% |
| Other amounts receivable | 41 | €1,244,856 | €1,549,661 | +€304,805 | +24.5% |
| Cash at bank and in hand | 54/58 | €65,707 | €28,208 | -€37,499 | -57.1% |
| Deferred charges and accrued income | 490/1 | €175,978 | €113,786 | -€62,193 | -35.3% |
| Total equity and liabilities | 10/49 | €1,810,594 | €1,991,281 | +€180,687 | +10.0% |
| Equity | 10/15 | €1,374,711 | €1,581,985 | +€207,274 | +15.1% |
| Contributions | 10/11 | €335,207 | €335,207 | = | 0.0% |
| Capital | 10 | €335,207 | €335,207 | = | 0.0% |
| Issued capital | 100 | €335,207 | €335,207 | = | 0.0% |
| Reserves | 13 | €38,919 | €38,919 | = | 0.0% |
| Non-distributable reserves | 130/1 | €33,521 | €33,521 | = | 0.0% |
| Legal reserve | 130 | €33,521 | €33,521 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,398 | €5,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,000,585 | €1,207,859 | +€207,274 | +20.7% |
| Amounts payable | 17/49 | €435,883 | €409,295 | -€26,588 | -6.1% |
| Amounts payable within one year | 42/48 | €396,968 | €381,983 | -€14,985 | -3.8% |
| Trade debts | 44 | €64,137 | €198,174 | +€134,037 | +209% |
| Suppliers | 440/4 | €64,137 | €198,174 | +€134,037 | +209% |
| Taxes, remuneration and social security | 45 | €332,832 | €181,810 | -€151,022 | -45.4% |
| Taxes | 450/3 | €96,606 | €54,406 | -€42,200 | -43.7% |
| Remuneration and social security | 454/9 | €236,226 | €127,404 | -€108,822 | -46.1% |
| Other amounts payable | 47/48 | - | €2,000 | +€2,000 | |
| Accrued charges and deferred income | 492/3 | €38,915 | €27,312 | -€11,603 | -29.8% |
| Turnover | 70 | €3,085,437 | - | -€3.1m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,103,821 | - | -€1.1m | |
| Remuneration, social security and pensions | 62 | €1,704,430 | €1,679,153 | -€25,277 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,543 | €33,016 | -€29,527 | -47.2% |
| Other operating charges | 640/8 | €2,840 | €1,834 | -€1,006 | -35.4% |
| Gross operating margin | 9900 | €1,981,616 | €2,002,771 | +€21,155 | +1.1% |
| Operating profit (loss) | 9901 | €211,804 | €288,769 | +€76,966 | +36.3% |
| Financial income | 75/76B | €25,971 | €5,567 | -€20,404 | -78.6% |
| Recurring financial income | 75 | €25,971 | €5,567 | -€20,404 | -78.6% |
| Financial charges | 65/66B | €9,753 | €361 | -€9,393 | -96.3% |
| Recurring financial charges | 65 | €9,753 | €361 | -€9,393 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | €228,021 | €293,976 | +€65,955 | +28.9% |
| Income taxes | 67/77 | €71,977 | €86,702 | +€14,725 | +20.5% |
| Profit (loss) for the period | 9904 | €156,044 | €207,274 | +€51,230 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €156,044 | €207,274 | +€51,230 | +32.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.