EFA EXPRESS: 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.
EFA EXPRESS
Largest movements
- Receivables within one year -€42,425
down €42,425 (-75.2%), from €56,394 to €13,969
of which Trade receivables: -€34,840
- Tangible fixed assets +€10,418
up €10,418 (+87.0%), from €11,973 to €22,392
of which Other tangible fixed assets: +€14,670
- Cash +€10,015
up €10,015 (+55.0%), from €18,222 to €28,237
mainly Receivables within one year (+€42,425) and Debts after one year (+€41,267)
- Profit (loss) carried forward -€56,291
down €56,291 (-95.5%), from €58,934 to €2,642
- Debts after one year +€41,267
new in 2025: €41,267
- Trade debts -€13,725
down €13,725 (-83.3%), from €16,482 to €2,758
- Current portion of long-term debt +€10,360
new in 2025: €10,360
- Tax, wage and social debts -€3,602
down €3,602 (-39.3%), from €9,173 to €5,571
- Gross operating margin -€52,019
down €52,019 (-34.7%), from €149,702 to €97,683
- Staff costs +€23,592
up €23,592 (+23.5%), from €100,478 to €124,070
- Other operating charges -€3,767
down €3,767 (-24.7%), from €15,242 to €11,475
- Taxes +€3,427
up €3,427 (+35.4%), from €9,684 to €13,111
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.
Cash bridge derived
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 | €86,589 | €64,598 | -€21,991 | -25.4% |
| Fixed assets | 21/28 | €11,973 | €22,392 | +€10,418 | +87.0% |
| Tangible fixed assets | 22/27 | €11,973 | €22,392 | +€10,418 | +87.0% |
| Furniture and vehicles | 24 | €11,973 | €7,722 | -€4,252 | -35.5% |
| Other tangible fixed assets | 26 | - | €14,670 | +€14,670 | |
| Current assets | 29/58 | €74,616 | €42,206 | -€32,410 | -43.4% |
| Amounts receivable within one year | 40/41 | €56,394 | €13,969 | -€42,425 | -75.2% |
| Trade receivables | 40 | €35,315 | €476 | -€34,840 | -98.7% |
| Other amounts receivable | 41 | €21,079 | €13,494 | -€7,585 | -36.0% |
| Cash at bank and in hand | 54/58 | €18,222 | €28,237 | +€10,015 | +55.0% |
| Total equity and liabilities | 10/49 | €86,589 | €64,598 | -€21,991 | -25.4% |
| Equity | 10/15 | €60,934 | €4,642 | -€56,291 | -92.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,934 | €2,642 | -€56,291 | -95.5% |
| Amounts payable | 17/49 | €25,656 | €59,956 | +€34,300 | +133.7% |
| Amounts payable after more than one year | 17 | - | €41,267 | +€41,267 | |
| Financial debts | 170/4 | - | €41,267 | +€41,267 | |
| Amounts payable within one year | 42/48 | €25,656 | €18,688 | -€6,967 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | - | €10,360 | +€10,360 | |
| Trade debts | 44 | €16,482 | €2,758 | -€13,725 | -83.3% |
| Suppliers | 440/4 | €16,482 | €2,758 | -€13,725 | -83.3% |
| Taxes, remuneration and social security | 45 | €9,173 | €5,571 | -€3,602 | -39.3% |
| Taxes | 450/3 | €9,173 | €5,571 | -€3,602 | -39.3% |
| Remuneration, social security and pensions | 62 | €100,478 | €124,070 | +€23,592 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,741 | €4,252 | -€489 | -10.3% |
| Other operating charges | 640/8 | €15,242 | €11,475 | -€3,767 | -24.7% |
| Gross operating margin | 9900 | €149,702 | €97,683 | -€52,019 | -34.7% |
| Operating profit (loss) | 9901 | €29,241 | -€42,114 | -€71,355 | |
| Financial charges | 65/66B | €330 | €1,066 | +€736 | +223.1% |
| Recurring financial charges | 65 | €330 | €1,066 | +€736 | +223.1% |
| Profit (loss) for the period before taxes | 9903 | €28,911 | -€43,180 | -€72,091 | |
| Income taxes | 67/77 | €9,684 | €13,111 | +€3,427 | +35.4% |
| Profit (loss) for the period | 9904 | €19,227 | -€56,291 | -€75,518 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,227 | -€56,291 | -€75,518 |
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 11 October 2026 via checked.be.