EFE: 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.
EFE
Largest movements
- Tangible fixed assets -€1,028
down €1,028 (-27.5%), from €3,732 to €2,704
of which Land and buildings: -€620
- Receivables within one year +€900
up €900 (+9.7%), from €9,290 to €10,190
of which Other amounts receivable: +€1,584
- Stocks and contracts +€476
up €476 (+16.0%), from €2,981 to €3,457
- Cash +€274
up €274 (+75.0%), from €366 to €640
mainly Net result for the year (+€3,591) and Depreciation (+€1,028)
- Profit (loss) carried forward +€3,591
up €3,591 (+17.9%), from -€20,033 to -€16,442
- Short-term financial debts -€1,951
no longer reported in 2025 (was €1,951)
- Trade debts -€665
down €665 (-9.8%), from €6,822 to €6,157
- Current portion of long-term debt -€592
down €592 (-25.7%), from €2,303 to €1,711
- Tax, wage and social debts +€239
up €239 (+1004.0%), from €24 to €263
- Gross operating margin +€9,541
up €9,541, from -€1,149 to €8,392
- Staff costs -€2,185
down €2,185 (-84.6%), from €2,583 to €398
- Financial charges -€650
down €650 (-22.4%), from €2,904 to €2,254
- Depreciation -€347
down €347 (-25.3%), from €1,376 to €1,028
- Other operating charges -€330
down €330 (-24.8%), from €1,328 to €998
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 | €17,351 | €17,973 | +€622 | +3.6% |
| Fixed assets | 21/28 | €4,713 | €3,685 | -€1,028 | -21.8% |
| Tangible fixed assets | 22/27 | €3,732 | €2,704 | -€1,028 | -27.5% |
| Land and buildings | 22 | €3,100 | €2,480 | -€620 | -20.0% |
| Plant, machinery and equipment | 23 | €415 | €164 | -€252 | -60.6% |
| Furniture and vehicles | 24 | €216 | €60 | -€156 | -72.2% |
| Financial fixed assets | 28 | €981 | €981 | = | 0.0% |
| Current assets | 29/58 | €12,638 | €14,287 | +€1,650 | +13.1% |
| Stocks and contracts in progress | 3 | €2,981 | €3,457 | +€476 | +16.0% |
| Stocks | 30/36 | €2,981 | €3,457 | +€476 | +16.0% |
| Amounts receivable within one year | 40/41 | €9,290 | €10,190 | +€900 | +9.7% |
| Trade receivables | 40 | €684 | - | -€684 | |
| Other amounts receivable | 41 | €8,606 | €10,190 | +€1,584 | +18.4% |
| Cash at bank and in hand | 54/58 | €366 | €640 | +€274 | +75.0% |
| Total equity and liabilities | 10/49 | €17,351 | €17,973 | +€622 | +3.6% |
| Equity | 10/15 | €6,251 | €9,842 | +€3,591 | +57.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,684 | €7,684 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,124 | €3,124 | = | 0.0% |
| Distributable reserves | 133 | €2,700 | €2,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,033 | -€16,442 | +€3,591 | +17.9% |
| Amounts payable | 17/49 | €11,100 | €8,130 | -€2,970 | -26.8% |
| Amounts payable within one year | 42/48 | €11,100 | €8,130 | -€2,970 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €2,303 | €1,711 | -€592 | -25.7% |
| Financial debts | 43 | €1,951 | - | -€1,951 | |
| Credit institutions | 430/8 | €1,951 | - | -€1,951 | |
| Trade debts | 44 | €6,822 | €6,157 | -€665 | -9.8% |
| Suppliers | 440/4 | €6,822 | €6,157 | -€665 | -9.8% |
| Taxes, remuneration and social security | 45 | €24 | €263 | +€239 | +1004.0% |
| Taxes | 450/3 | €24 | €263 | +€239 | +1004.0% |
| Remuneration, social security and pensions | 62 | €2,583 | €398 | -€2,185 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,376 | €1,028 | -€347 | -25.3% |
| Other operating charges | 640/8 | €1,328 | €998 | -€330 | -24.8% |
| Gross operating margin | 9900 | -€1,149 | €8,392 | +€9,541 | |
| Operating profit (loss) | 9901 | -€6,436 | €5,968 | +€12,404 | |
| Financial charges | 65/66B | €2,904 | €2,254 | -€650 | -22.4% |
| Recurring financial charges | 65 | €2,904 | €2,254 | -€650 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,340 | €3,715 | +€13,055 | |
| Income taxes | 67/77 | €123 | €123 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€9,463 | €3,591 | +€13,055 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,463 | €3,591 | +€13,055 |
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 10 October 2026 via checked.be.