EFECTIV: 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.
EFECTIV
Largest movements
- Cash +€8,506
up €8,506 (+437.6%), from €1,944 to €10,449
mainly Trade debts (+€26,934) and Tax, wage and social debts (+€16,603)
- Receivables within one year +€8,199
up €8,199 (+12.7%), from €64,678 to €72,876
of which Trade receivables: +€8,215
- Trade debts +€26,934
up €26,934 (+108.7%), from €24,770 to €51,704
- Tax, wage and social debts +€16,603
up €16,603 (+284.8%), from €5,829 to €22,432
of which Taxes: +€10,103
- Advances received -€15,735
down €15,735 (-76.7%), from €20,514 to €4,779
- Current portion of long-term debt -€6,252
down €6,252 (-69.2%), from €9,028 to €2,776
- Profit (loss) carried forward -€4,485
down €4,485 (-80.1%), from -€5,597 to -€10,082
- Gross operating margin -€21,827
down €21,827, from €18,374 to -€3,454
- Depreciation -€5,595
down €5,595 (-100.0%), from €5,595 to €0
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 | €73,298 | €90,503 | +€17,204 | +23.5% |
| Fixed assets | 21/28 | €6,677 | €7,177 | +€500 | +7.5% |
| Tangible fixed assets | 22/27 | €6,677 | €6,677 | = | 0.0% |
| Plant, machinery and equipment | 23 | €6,677 | €6,677 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €66,621 | €83,326 | +€16,704 | +25.1% |
| Amounts receivable within one year | 40/41 | €64,678 | €72,876 | +€8,199 | +12.7% |
| Trade receivables | 40 | €62,721 | €70,937 | +€8,215 | +13.1% |
| Other amounts receivable | 41 | €1,956 | €1,940 | -€17 | -0.9% |
| Cash at bank and in hand | 54/58 | €1,944 | €10,449 | +€8,506 | +437.6% |
| Total equity and liabilities | 10/49 | €73,298 | €90,503 | +€17,204 | +23.5% |
| Equity | 10/15 | €953 | -€3,532 | -€4,485 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €350 | €350 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €350 | €350 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,597 | -€10,082 | -€4,485 | -80.1% |
| Amounts payable | 17/49 | €72,346 | €94,035 | +€21,689 | +30.0% |
| Amounts payable after more than one year | 17 | €695 | €0 | -€695 | -100.0% |
| Financial debts | 170/4 | €695 | €0 | -€695 | -100.0% |
| Amounts payable within one year | 42/48 | €71,651 | €94,035 | +€22,384 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €9,028 | €2,776 | -€6,252 | -69.2% |
| Trade debts | 44 | €24,770 | €51,704 | +€26,934 | +108.7% |
| Suppliers | 440/4 | €24,770 | €51,704 | +€26,934 | +108.7% |
| Advances received on contracts in progress | 46 | €20,514 | €4,779 | -€15,735 | -76.7% |
| Taxes, remuneration and social security | 45 | €5,829 | €22,432 | +€16,603 | +284.8% |
| Taxes | 450/3 | €5,479 | €15,582 | +€10,103 | +184.4% |
| Remuneration and social security | 454/9 | €350 | €6,850 | +€6,500 | +1857.1% |
| Other amounts payable | 47/48 | €11,511 | €12,344 | +€833 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,595 | €0 | -€5,595 | -100.0% |
| Other operating charges | 640/8 | €397 | €463 | +€66 | +16.7% |
| Gross operating margin | 9900 | €18,374 | -€3,454 | -€21,827 | |
| Operating profit (loss) | 9901 | €12,382 | -€3,917 | -€16,299 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €531 | €568 | +€37 | +7.0% |
| Recurring financial charges | 65 | €531 | €568 | +€37 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €11,851 | -€4,485 | -€16,336 | |
| Profit (loss) for the period | 9904 | €11,851 | -€4,485 | -€16,336 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,851 | -€4,485 | -€16,336 |
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 11 October 2026 via checked.be.