EFC IMMO: what changed
Two fiscal 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.
EFC IMMO
Largest movements
- Tangible fixed assets +€338,712
up €338,712 (+67.3%), from €503,564 to €842,276
of which Land and buildings: +€344,725
- Receivables within one year -€128,664
down €128,664 (-100.0%), from €128,664 to €0
of which Trade receivables: -€128,658
- Cash +€25,241
up €25,241 (+330.0%), from €7,650 to €32,891
mainly Debts after one year (+€149,095) and Receivables within one year (+€128,664)
- Debts after one year +€149,095
up €149,095 (+58.2%), from €256,255 to €405,351
- Reserves +€147,694
new in 2025: €147,694
- Profit (loss) carried forward -€95,501
down €95,501 (-100.0%), from €95,501 to €0
- Other debts -€46,723
down €46,723 (-49.9%), from €93,643 to €46,920
- Tax, wage and social debts +€39,416
up €39,416 (+132.2%), from €29,818 to €69,234
of which Taxes: +€35,538
- Depreciation +€51,371
up €51,371 (+345.0%), from €14,890 to €66,261
- Gross operating margin -€14,298
down €14,298 (-8.1%), from €175,623 to €161,325
- Taxes +€2,535
up €2,535 (+12.3%), from €20,654 to €23,190
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 | €640,165 | €880,294 | +€240,129 | +37.5% |
| Fixed assets | 21/28 | €503,564 | €842,276 | +€338,712 | +67.3% |
| Tangible fixed assets | 22/27 | €503,564 | €842,276 | +€338,712 | +67.3% |
| Land and buildings | 22 | €445,179 | €789,904 | +€344,725 | +77.4% |
| Plant, machinery and equipment | 23 | €991 | €6,268 | +€5,277 | +532.5% |
| Furniture and vehicles | 24 | €57,393 | €46,103 | -€11,290 | -19.7% |
| Current assets | 29/58 | €136,601 | €38,018 | -€98,583 | -72.2% |
| Amounts receivable within one year | 40/41 | €128,664 | €0 | -€128,664 | -100.0% |
| Trade receivables | 40 | €128,658 | €0 | -€128,658 | -100.0% |
| Other amounts receivable | 41 | €6 | €0 | -€6 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,650 | €32,891 | +€25,241 | +330.0% |
| Deferred charges and accrued income | 490/1 | €288 | €5,127 | +€4,840 | +1682.7% |
| Total equity and liabilities | 10/49 | €640,165 | €880,294 | +€240,129 | +37.5% |
| Equity | 10/15 | €216,501 | €268,694 | +€52,193 | +24.1% |
| Contributions | 10/11 | €121,000 | €121,000 | = | 0.0% |
| Reserves | 13 | - | €147,694 | +€147,694 | |
| Distributable reserves | 133 | - | €147,694 | +€147,694 | |
| Profit (loss) carried forward | 14 | €95,501 | €0 | -€95,501 | -100.0% |
| Amounts payable | 17/49 | €423,664 | €611,600 | +€187,936 | +44.4% |
| Amounts payable after more than one year | 17 | €256,255 | €405,351 | +€149,095 | +58.2% |
| Financial debts | 170/4 | €256,255 | €405,351 | +€149,095 | +58.2% |
| Amounts payable within one year | 42/48 | €164,668 | €198,455 | +€33,786 | +20.5% |
| Current portion of amounts payable after more than one year | 42 | €35,489 | €46,388 | +€10,900 | +30.7% |
| Trade debts | 44 | €5,718 | €5,662 | -€56 | -1.0% |
| Suppliers | 440/4 | €5,718 | €5,662 | -€56 | -1.0% |
| Advances received on contracts in progress | 46 | €0 | €30,250 | +€30,250 | |
| Taxes, remuneration and social security | 45 | €29,818 | €69,234 | +€39,416 | +132.2% |
| Taxes | 450/3 | €29,818 | €65,356 | +€35,538 | +119.2% |
| Remuneration and social security | 454/9 | - | €3,877 | +€3,877 | |
| Other amounts payable | 47/48 | €93,643 | €46,920 | -€46,723 | -49.9% |
| Accrued charges and deferred income | 492/3 | €2,741 | €7,795 | +€5,054 | +184.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,890 | €66,261 | +€51,371 | +345.0% |
| Other operating charges | 640/8 | €1,891 | €2,924 | +€1,033 | +54.6% |
| Gross operating margin | 9900 | €175,623 | €161,325 | -€14,298 | -8.1% |
| Operating profit (loss) | 9901 | €158,842 | €92,141 | -€66,701 | -42.0% |
| Financial income | 75/76B | €0 | €6 | +€6 | +62600.0% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +62600.0% |
| Financial charges | 65/66B | €15,404 | €16,764 | +€1,361 | +8.8% |
| Recurring financial charges | 65 | €15,404 | €16,764 | +€1,361 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €143,438 | €75,383 | -€68,055 | -47.4% |
| Income taxes | 67/77 | €20,654 | €23,190 | +€2,535 | +12.3% |
| Profit (loss) for the period | 9904 | €122,784 | €52,193 | -€70,591 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €122,784 | €52,193 | -€70,591 | -57.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.