EFDICOR: 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.
What changed
EFDICOR
NACE 66.191, Agents and brokers in banking services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€145,993
2024 · €115,525+€30,468
Equity
€319,583
2024 · €233,590+€85,993
Cash
€110,997
2024 · €98,422+€12,576
Balance sheet total
€1.8m
2024 · €1.6m+€222,371
Largest movements
Assets
- Intangible fixed assets +€121,522
up €121,522 (+8.7%), from €1.4m to €1.5m
- Current investments +€76,149
new in 2025: €76,149
Equity and liabilities
- Profit (loss) carried forward +€85,993
up €85,993 (+39.3%), from €218,590 to €304,583
- Short-term financial debts +€57,892
up €57,892 (+2660.9%), from €2,176 to €60,067
- Other debts +€56,681
up €56,681 (+1707.7%), from €3,319 to €60,000
- Debts after one year -€49,716
down €49,716 (-4.5%), from €1.1m to €1.0m
- Trade debts +€42,557
up €42,557 (+59.1%), from €72,038 to €114,596
Income statement
- Gross operating margin +€249,798
up €249,798 (+47.1%), from €530,073 to €779,871
- Staff costs +€161,313
up €161,313 (+96.3%), from €167,452 to €328,765
- Depreciation +€48,365
up €48,365 (+29.7%), from €162,849 to €211,214
- Taxes -€15,265
down €15,265 (-30.7%), from €49,707 to €34,442
- Other operating charges +€12,729
up €12,729 (+94.9%), from €13,416 to €26,145
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.
Result 2024
€115,525
Gross operating margin
+€249,798
Staff costs
-€161,313
Depreciation
-€48,365
Other operating charges
-€12,729
Financial income
-€677
Financial charges
-€11,512
Taxes
+€15,265
Result 2025
€145,993
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.
From operations
+€443,557
Investment
-€397,339
Financing
-€33,643
Cash 2024
€98,422
From operations (derived)
+€443,557
Net result for the year
+€145,993
Depreciation
+€211,214
Receivables within one year
-€17,296
Deferred charges and accrued income
-€6,375
Trade debts
+€42,557
Tax, wage and social debts
+€11,693
Other debts
+€56,681
Accrued charges and deferred income
-€910
Investment (derived)
-€397,339
Investment in fixed assets (net)
-€321,190
Current investments
-€76,149
Financing
-€33,643
Debts after one year
-€49,716
Current portion of long-term debt
+€18,182
Short-term financial debts
+€57,892
Contributions, distributions and other
-€60,000
Cash 2025
€110,997
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,623,782 | €1,846,153 | +€222,371 | +13.7% |
| Fixed assets | 21/28 | €1,439,663 | €1,549,639 | +€109,976 | +7.6% |
| Intangible fixed assets | 21 | €1,401,094 | €1,522,617 | +€121,522 | +8.7% |
| Tangible fixed assets | 22/27 | €37,802 | €22,448 | -€15,354 | -40.6% |
| Plant, machinery and equipment | 23 | €5,660 | €6,290 | +€629 | +11.1% |
| Furniture and vehicles | 24 | €25,335 | - | -€25,335 | |
| Other tangible fixed assets | 26 | €6,806 | €16,159 | +€9,352 | +137.4% |
| Financial fixed assets | 28 | €767 | €4,574 | +€3,807 | +496.6% |
| Current assets | 29/58 | €184,118 | €296,514 | +€112,396 | +61.0% |
| Amounts receivable within one year | 40/41 | €25,004 | €42,300 | +€17,296 | +69.2% |
| Trade receivables | 40 | €16,397 | €9,138 | -€7,260 | -44.3% |
| Other amounts receivable | 41 | €8,607 | €33,163 | +€24,556 | +285.3% |
| Current investments | 50/53 | - | €76,149 | +€76,149 | |
| Cash at bank and in hand | 54/58 | €98,422 | €110,997 | +€12,576 | +12.8% |
| Deferred charges and accrued income | 490/1 | €60,693 | €67,068 | +€6,375 | +10.5% |
| Total equity and liabilities | 10/49 | €1,623,782 | €1,846,153 | +€222,371 | +13.7% |
| Equity | 10/15 | €233,590 | €319,583 | +€85,993 | +36.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,590 | €304,583 | +€85,993 | +39.3% |
| Amounts payable | 17/49 | €1,390,192 | €1,526,570 | +€136,379 | +9.8% |
| Amounts payable after more than one year | 17 | €1,099,637 | €1,049,921 | -€49,716 | -4.5% |
| Financial debts | 170/4 | €1,099,637 | €1,049,921 | -€49,716 | -4.5% |
| Amounts payable within one year | 42/48 | €289,599 | €476,604 | +€187,005 | +64.6% |
| Current portion of amounts payable after more than one year | 42 | €162,513 | €180,695 | +€18,182 | +11.2% |
| Financial debts | 43 | €2,176 | €60,067 | +€57,892 | +2660.9% |
| Credit institutions | 430/8 | €2,176 | €60,067 | +€57,892 | +2660.9% |
| Trade debts | 44 | €72,038 | €114,596 | +€42,557 | +59.1% |
| Suppliers | 440/4 | €72,038 | €114,596 | +€42,557 | +59.1% |
| Taxes, remuneration and social security | 45 | €49,552 | €61,246 | +€11,693 | +23.6% |
| Taxes | 450/3 | €29,886 | €29,415 | -€471 | -1.6% |
| Remuneration and social security | 454/9 | €19,667 | €31,831 | +€12,165 | +61.9% |
| Other amounts payable | 47/48 | €3,319 | €60,000 | +€56,681 | +1707.7% |
| Accrued charges and deferred income | 492/3 | €955 | €45 | -€910 | -95.3% |
| Remuneration, social security and pensions | 62 | €167,452 | €328,765 | +€161,313 | +96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,849 | €211,214 | +€48,365 | +29.7% |
| Other operating charges | 640/8 | €13,416 | €26,145 | +€12,729 | +94.9% |
| Gross operating margin | 9900 | €530,073 | €779,871 | +€249,798 | +47.1% |
| Operating profit (loss) | 9901 | €186,356 | €213,747 | +€27,392 | +14.7% |
| Financial income | 75/76B | €1,590 | €913 | -€677 | -42.6% |
| Recurring financial income | 75 | €1,428 | €775 | -€653 | -45.7% |
| Non-recurring financial income | 76B | €162 | €138 | -€24 | -14.8% |
| Financial charges | 65/66B | €22,714 | €34,226 | +€11,512 | +50.7% |
| Recurring financial charges | 65 | €22,714 | €33,890 | +€11,176 | +49.2% |
| Non-recurring financial charges | 66B | - | €335 | +€335 | |
| Profit (loss) for the period before taxes | 9903 | €165,232 | €180,435 | +€15,203 | +9.2% |
| Income taxes | 67/77 | €49,707 | €34,442 | -€15,265 | -30.7% |
| Profit (loss) for the period | 9904 | €115,525 | €145,993 | +€30,468 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €115,525 | €145,993 | +€30,468 | +26.4% |
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 3 October 2026 via checked.be.