EFAFLEX: what changed
EFAFLEX
Largest movements
- Current investments +€250,000
up €250,000 (+41.7%), from €600,000 to €850,000
- Cash -€93,098
down €93,098 (-12.6%), from €739,007 to €645,909
mainly Current investments (-€250,000) and Advances received (-€215,926)
- Stocks and contracts -€74,971
down €74,971 (-33.3%), from €225,113 to €150,142
of which Contracts in progress: -€57,501
- Tangible fixed assets +€61,500
up €61,500 (+593%), from €10,366 to €71,865
of which Furniture and vehicles: +€64,032
- Receivables within one year -€42,589
down €42,589 (-5.0%), from €855,391 to €812,803
of which Trade receivables: -€56,106
- Profit (loss) carried forward +€293,476
up €293,476 (+20.0%), from €1.5m to €1.8m
- Advances received -€215,926
down €215,926 (-62.0%), from €348,144 to €132,218
- Trade debts +€30,106
up €30,106 (+20.6%), from €146,071 to €176,176
- Gross operating margin +€107,749
up €107,749 (+11.2%), from €961,576 to €1.1m
- Staff costs +€97,682
up €97,682 (+17.7%), from €553,370 to €651,052
- Other operating charges +€24,452
up €24,452 (+3,870%), from €632 to €25,084
- Taxes -€18,472
down €18,472 (-15.6%), from €118,108 to €99,635
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,443,009 | €2,540,996 | +€97,987 | +4.0% |
| Fixed assets | 21/28 | €17,470 | €77,660 | +€60,190 | +345% |
| Intangible fixed assets | 21 | €1,310 | €0 | -€1,310 | -100% |
| Tangible fixed assets | 22/27 | €10,366 | €71,865 | +€61,500 | +593% |
| Plant, machinery and equipment | 23 | €5,568 | €3,035 | -€2,533 | -45.5% |
| Furniture and vehicles | 24 | €4,798 | €68,830 | +€64,032 | +1,335% |
| Financial fixed assets | 28 | €5,795 | €5,795 | = | 0.0% |
| Current assets | 29/58 | €2,425,539 | €2,463,336 | +€37,797 | +1.6% |
| Stocks and contracts in progress | 3 | €225,113 | €150,142 | -€74,971 | -33.3% |
| Stocks | 30/36 | €91,133 | €73,664 | -€17,470 | -19.2% |
| Contracts in progress | 37 | €133,980 | €76,478 | -€57,501 | -42.9% |
| Amounts receivable within one year | 40/41 | €855,391 | €812,803 | -€42,589 | -5.0% |
| Trade receivables | 40 | €853,085 | €796,979 | -€56,106 | -6.6% |
| Other amounts receivable | 41 | €2,307 | €15,824 | +€13,517 | +586% |
| Current investments | 50/53 | €600,000 | €850,000 | +€250,000 | +41.7% |
| Cash at bank and in hand | 54/58 | €739,007 | €645,909 | -€93,098 | -12.6% |
| Deferred charges and accrued income | 490/1 | €6,028 | €4,482 | -€1,546 | -25.6% |
| Total equity and liabilities | 10/49 | €2,443,009 | €2,540,996 | +€97,987 | +4.0% |
| Equity | 10/15 | €1,759,973 | €2,053,449 | +€293,476 | +16.7% |
| Contributions | 10/11 | €262,400 | €262,400 | = | 0.0% |
| Reserves | 13 | €26,855 | €26,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,855 | €26,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26,855 | €26,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,470,718 | €1,764,194 | +€293,476 | +20.0% |
| Amounts payable | 17/49 | €683,036 | €487,547 | -€195,489 | -28.6% |
| Amounts payable within one year | 42/48 | €624,653 | €444,197 | -€180,456 | -28.9% |
| Trade debts | 44 | €146,071 | €176,176 | +€30,106 | +20.6% |
| Suppliers | 440/4 | €146,071 | €176,176 | +€30,106 | +20.6% |
| Advances received on contracts in progress | 46 | €348,144 | €132,218 | -€215,926 | -62.0% |
| Taxes, remuneration and social security | 45 | €130,438 | €135,802 | +€5,364 | +4.1% |
| Taxes | 450/3 | €71,596 | €44,626 | -€26,970 | -37.7% |
| Remuneration and social security | 454/9 | €58,842 | €91,176 | +€32,334 | +54.9% |
| Accrued charges and deferred income | 492/3 | €58,384 | €43,350 | -€15,034 | -25.7% |
| Remuneration, social security and pensions | 62 | €553,370 | €651,052 | +€97,682 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,406 | €12,934 | +€9,527 | +280% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,611 | €0 | +€1,611 | |
| Other operating charges | 640/8 | €632 | €25,084 | +€24,452 | +3,870% |
| Gross operating margin | 9900 | €961,576 | €1,069,324 | +€107,749 | +11.2% |
| Operating profit (loss) | 9901 | €405,778 | €380,255 | -€25,524 | -6.3% |
| Financial income | 75/76B | €21,260 | €18,038 | -€3,222 | -15.2% |
| Recurring financial income | 75 | €21,260 | €18,038 | -€3,222 | -15.2% |
| Financial charges | 65/66B | €3,919 | €5,181 | +€1,262 | +32.2% |
| Recurring financial charges | 65 | €3,919 | €5,181 | +€1,262 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | €423,120 | €393,112 | -€30,008 | -7.1% |
| Income taxes | 67/77 | €118,108 | €99,635 | -€18,472 | -15.6% |
| Profit (loss) for the period | 9904 | €305,012 | €293,476 | -€11,535 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €305,012 | €293,476 | -€11,535 | -3.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.