EFES: 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.
EFES
Largest movements
- Cash +€3,075
up €3,075 (+55.5%), from €5,545 to €8,621
mainly Net result for the year (+€6,705) and Deferred charges and accrued income (+€1,615)
- Receivables within one year +€2,331
up €2,331 (+5.5%), from €42,474 to €44,805
of which Other amounts receivable: +€2,768
- Deferred charges and accrued income -€1,615
down €1,615 (-65.9%), from €2,452 to €837
- Reserves +€6,705
up €6,705 (+23.1%), from €29,086 to €35,791
of which Distributable reserves: +€6,705
- Trade debts -€3,172
down €3,172 (-57.1%), from €5,554 to €2,382
- Gross operating margin +€1,587
up €1,587 (+20.3%), from €7,803 to €9,390
- Staff costs -€766
down €766 (-86.1%), from €890 to €124
- Financial charges -€275
down €275 (-16.2%), from €1,692 to €1,418
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 | €53,351 | €57,429 | +€4,078 | +7.6% |
| Fixed assets | 21/28 | €162 | €162 | = | 0.0% |
| Financial fixed assets | 28 | €162 | €162 | = | 0.0% |
| Current assets | 29/58 | €53,189 | €57,267 | +€4,078 | +7.7% |
| Stocks and contracts in progress | 3 | €2,718 | €3,005 | +€287 | +10.5% |
| Stocks | 30/36 | €2,718 | €3,005 | +€287 | +10.5% |
| Amounts receivable within one year | 40/41 | €42,474 | €44,805 | +€2,331 | +5.5% |
| Trade receivables | 40 | €1,318 | €881 | -€437 | -33.1% |
| Other amounts receivable | 41 | €41,156 | €43,924 | +€2,768 | +6.7% |
| Cash at bank and in hand | 54/58 | €5,545 | €8,621 | +€3,075 | +55.5% |
| Deferred charges and accrued income | 490/1 | €2,452 | €837 | -€1,615 | -65.9% |
| Total equity and liabilities | 10/49 | €53,351 | €57,429 | +€4,078 | +7.6% |
| Equity | 10/15 | €47,686 | €54,391 | +€6,705 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €29,086 | €35,791 | +€6,705 | +23.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €27,226 | €33,931 | +€6,705 | +24.6% |
| Amounts payable | 17/49 | €5,665 | €3,038 | -€2,628 | -46.4% |
| Amounts payable within one year | 42/48 | €5,665 | €3,038 | -€2,628 | -46.4% |
| Trade debts | 44 | €5,554 | €2,382 | -€3,172 | -57.1% |
| Suppliers | 440/4 | €5,554 | €2,382 | -€3,172 | -57.1% |
| Taxes, remuneration and social security | 45 | €111 | €656 | +€544 | +489.6% |
| Taxes | 450/3 | €111 | €656 | +€544 | +489.6% |
| Remuneration, social security and pensions | 62 | €890 | €124 | -€766 | -86.1% |
| Other operating charges | 640/8 | €1,198 | €1,145 | -€53 | -4.4% |
| Gross operating margin | 9900 | €7,803 | €9,390 | +€1,587 | +20.3% |
| Operating profit (loss) | 9901 | €5,715 | €8,121 | +€2,406 | +42.1% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,692 | €1,418 | -€275 | -16.2% |
| Recurring financial charges | 65 | €1,692 | €1,418 | -€275 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €4,023 | €6,705 | +€2,682 | +66.7% |
| Profit (loss) for the period | 9904 | €4,023 | €6,705 | +€2,682 | +66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,023 | €6,705 | +€2,682 | +66.7% |
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 6 October 2026 via checked.be.