Efdal Group: 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.
Efdal Group
Largest movements
- Receivables within one year +€40,278
up €40,278 (+111%), from €36,171 to €76,449
of which Other amounts receivable: +€20,489
- Cash -€12,841
down €12,841 (-76.1%), from €16,876 to €4,035
mainly Receivables within one year (-€40,278) and Investment in fixed assets (net) (-€9,500)
- Financial fixed assets +€5,000
up €5,000 (+35.7%), from €14,000 to €19,000
- Tangible fixed assets -€2,632
down €2,632 (-19.1%), from €13,750 to €11,118
- Profit (loss) carried forward +€16,708
up €16,708 (+33.5%), from €49,917 to €66,625
- Trade debts +€9,422
up €9,422 (+549%), from €1,717 to €11,139
- Tax, wage and social debts +€3,755
up €3,755 (+13.7%), from €27,479 to €31,234
of which Taxes: +€11,355
- Gross operating margin -€23,645
down €23,645 (-31.8%), from €74,320 to €50,675
- Financial charges +€10,852
up €10,852 (+449%), from €2,417 to €13,269
- Taxes -€7,725
down €7,725 (-60.4%), from €12,784 to €5,059
- Other operating charges +€6,022
up €6,022 (+173%), from €3,485 to €9,507
- Depreciation +€1,828
up €1,828 (+34.5%), from €5,304 to €7,132
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 | €81,113 | €110,998 | +€29,884 | +36.8% |
| Fixed assets | 21/28 | €27,750 | €30,118 | +€2,368 | +8.5% |
| Tangible fixed assets | 22/27 | €13,750 | €11,118 | -€2,632 | -19.1% |
| Furniture and vehicles | 24 | €13,750 | €11,118 | -€2,632 | -19.1% |
| Financial fixed assets | 28 | €14,000 | €19,000 | +€5,000 | +35.7% |
| Current assets | 29/58 | €53,363 | €80,879 | +€27,516 | +51.6% |
| Amounts receivable within one year | 40/41 | €36,171 | €76,449 | +€40,278 | +111% |
| Trade receivables | 40 | €29,072 | €48,861 | +€19,789 | +68.1% |
| Other amounts receivable | 41 | €7,099 | €27,588 | +€20,489 | +289% |
| Cash at bank and in hand | 54/58 | €16,876 | €4,035 | -€12,841 | -76.1% |
| Deferred charges and accrued income | 490/1 | €316 | €395 | +€79 | +25.0% |
| Total equity and liabilities | 10/49 | €81,113 | €110,998 | +€29,884 | +36.8% |
| Equity | 10/15 | €51,917 | €68,625 | +€16,708 | +32.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,917 | €66,625 | +€16,708 | +33.5% |
| Amounts payable | 17/49 | €29,196 | €42,373 | +€13,177 | +45.1% |
| Amounts payable within one year | 42/48 | €29,196 | €42,373 | +€13,177 | +45.1% |
| Trade debts | 44 | €1,717 | €11,139 | +€9,422 | +549% |
| Suppliers | 440/4 | €1,717 | €11,139 | +€9,422 | +549% |
| Taxes, remuneration and social security | 45 | €27,479 | €31,234 | +€3,755 | +13.7% |
| Taxes | 450/3 | €19,879 | €31,234 | +€11,355 | +57.1% |
| Remuneration and social security | 454/9 | €7,600 | - | -€7,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,304 | €7,132 | +€1,828 | +34.5% |
| Other operating charges | 640/8 | €3,485 | €9,507 | +€6,022 | +173% |
| Gross operating margin | 9900 | €74,320 | €50,675 | -€23,645 | -31.8% |
| Operating profit (loss) | 9901 | €65,532 | €34,036 | -€31,495 | -48.1% |
| Financial income | 75/76B | €218 | €999 | +€781 | +358% |
| Recurring financial income | 75 | €218 | €999 | +€781 | +358% |
| Financial charges | 65/66B | €2,417 | €13,269 | +€10,852 | +449% |
| Recurring financial charges | 65 | €2,417 | €13,269 | +€10,852 | +449% |
| Profit (loss) for the period before taxes | 9903 | €63,332 | €21,766 | -€41,566 | -65.6% |
| Income taxes | 67/77 | €12,784 | €5,059 | -€7,725 | -60.4% |
| Profit (loss) for the period | 9904 | €50,549 | €16,708 | -€33,841 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,549 | €16,708 | -€33,841 | -66.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.