Efeka: what changed
Efeka
Largest movements
- Cash -€156,763
down €156,763 (-48.9%), from €320,486 to €163,723
mainly Receivables within one year (-€73,576) and Other debts (-€53,052)
- Receivables within one year +€73,576
up €73,576 (+605%), from €12,169 to €85,745
of which Other amounts receivable: +€71,341
- Current investments +€49,908
up €49,908 (+499%), from €10,000 to €59,908
- Other debts -€53,052
down €53,052 (-66.2%), from €80,141 to €27,090
- Reserves +€37,588
up €37,588 (+14.7%), from €255,033 to €292,620
- Tax, wage and social debts -€15,612
down €15,612 (-68.6%), from €22,748 to €7,135
- Gross operating margin -€2,355
down €2,355 (-3.7%), from €62,996 to €60,640
- Financial charges -€2,191
down €2,191 (-83.5%), from €2,624 to €433
- Financial income +€1,068
up €1,068 (+143%), from €748 to €1,816
- Depreciation +€971
up €971 (+17.2%), from €5,650 to €6,621
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €364,870 | €333,438 | -€31,433 | -8.6% |
| Fixed assets | 21/28 | €19,971 | €22,715 | +€2,744 | +13.7% |
| Tangible fixed assets | 22/27 | €19,971 | €22,715 | +€2,744 | +13.7% |
| Plant, machinery and equipment | 23 | €4,449 | €2,355 | -€2,094 | -47.1% |
| Furniture and vehicles | 24 | €4,906 | €4,749 | -€157 | -3.2% |
| Other tangible fixed assets | 26 | €10,616 | €15,611 | +€4,995 | +47.0% |
| Current assets | 29/58 | €344,900 | €310,723 | -€34,177 | -9.9% |
| Amounts receivable within one year | 40/41 | €12,169 | €85,745 | +€73,576 | +605% |
| Trade receivables | 40 | €12,101 | €14,336 | +€2,235 | +18.5% |
| Other amounts receivable | 41 | €68 | €71,409 | +€71,341 | +104,974% |
| Current investments | 50/53 | €10,000 | €59,908 | +€49,908 | +499% |
| Cash at bank and in hand | 54/58 | €320,486 | €163,723 | -€156,763 | -48.9% |
| Deferred charges and accrued income | 490/1 | €2,244 | €1,347 | -€897 | -40.0% |
| Total equity and liabilities | 10/49 | €364,870 | €333,438 | -€31,433 | -8.6% |
| Equity | 10/15 | €261,233 | €298,820 | +€37,588 | +14.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €255,033 | €292,620 | +€37,588 | +14.7% |
| Distributable reserves | 133 | €255,033 | €292,620 | +€37,588 | +14.7% |
| Amounts payable | 17/49 | €103,638 | €34,617 | -€69,020 | -66.6% |
| Amounts payable within one year | 42/48 | €103,638 | €34,617 | -€69,020 | -66.6% |
| Trade debts | 44 | €749 | €392 | -€357 | -47.6% |
| Suppliers | 440/4 | €749 | €392 | -€357 | -47.6% |
| Taxes, remuneration and social security | 45 | €22,748 | €7,135 | -€15,612 | -68.6% |
| Taxes | 450/3 | €22,748 | €7,135 | -€15,612 | -68.6% |
| Other amounts payable | 47/48 | €80,141 | €27,090 | -€53,052 | -66.2% |
| Non-recurring operating income | 76A | €3,080 | - | -€3,080 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,650 | €6,621 | +€971 | +17.2% |
| Other operating charges | 640/8 | €1,460 | €1,711 | +€251 | +17.2% |
| Gross operating margin | 9900 | €62,996 | €60,640 | -€2,355 | -3.7% |
| Operating profit (loss) | 9901 | €55,886 | €52,308 | -€3,578 | -6.4% |
| Financial income | 75/76B | €748 | €1,816 | +€1,068 | +143% |
| Recurring financial income | 75 | €748 | €1,816 | +€1,068 | +143% |
| Financial charges | 65/66B | €2,624 | €433 | -€2,191 | -83.5% |
| Recurring financial charges | 65 | €2,624 | €433 | -€2,191 | -83.5% |
| Profit (loss) for the period before taxes | 9903 | €54,010 | €53,691 | -€319 | -0.6% |
| Income taxes | 67/77 | €16,310 | €16,103 | -€207 | -1.3% |
| Profit (loss) for the period | 9904 | €37,700 | €37,588 | -€112 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,700 | €37,588 | -€112 | -0.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.