EFES GROUP: what changed
EFES GROUP
Largest movements
- Tangible fixed assets +€4,671
up €4,671 (+175%), from €2,667 to €7,338
of which Furniture and vehicles: +€3,603
- Receivables within one year +€4,525
up €4,525 (+60.1%), from €7,530 to €12,055
of which Trade receivables: +€4,713
- Stocks and contracts +€2,042
up €2,042 (+231%), from €885 to €2,927
- Deferred charges and accrued income +€1,084
new in 2025: €1,084
- Intangible fixed assets -€1,000
down €1,000 (-37.5%), from €2,667 to €1,667
- Tax, wage and social debts +€4,897
up €4,897 (+68.1%), from €7,196 to €12,093
of which Remuneration and social security: +€8,349
- Trade debts +€3,270
up €3,270 (+46.0%), from €7,105 to €10,374
- Profit (loss) carried forward +€1,348
up €1,348 (+29.6%), from €4,559 to €5,907
- Other debts +€834
new in 2025: €834
- Staff costs +€32,470
up €32,470 (+835%), from €3,890 to €36,360
- Gross operating margin +€27,936
up €27,936 (+207%), from €13,504 to €41,440
- Taxes -€880
down €880 (-51.5%), from €1,709 to €829
- Depreciation -€638
down €638 (-20.1%), from €3,167 to €2,529
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 | €43,860 | €54,208 | +€10,348 | +23.6% |
| Fixed assets | 21/28 | €33,333 | €37,005 | +€3,671 | +11.0% |
| Intangible fixed assets | 21 | €2,667 | €1,667 | -€1,000 | -37.5% |
| Tangible fixed assets | 22/27 | €2,667 | €7,338 | +€4,671 | +175% |
| Plant, machinery and equipment | 23 | - | €1,068 | +€1,068 | |
| Furniture and vehicles | 24 | €2,667 | €6,269 | +€3,603 | +135% |
| Financial fixed assets | 28 | €28,000 | €28,000 | = | 0.0% |
| Current assets | 29/58 | €10,526 | €17,203 | +€6,677 | +63.4% |
| Stocks and contracts in progress | 3 | €885 | €2,927 | +€2,042 | +231% |
| Stocks | 30/36 | €885 | €2,927 | +€2,042 | +231% |
| Amounts receivable within one year | 40/41 | €7,530 | €12,055 | +€4,525 | +60.1% |
| Trade receivables | 40 | €4,662 | €9,375 | +€4,713 | +101% |
| Other amounts receivable | 41 | €2,868 | €2,680 | -€188 | -6.5% |
| Cash at bank and in hand | 54/58 | €2,111 | €1,137 | -€974 | -46.1% |
| Deferred charges and accrued income | 490/1 | - | €1,084 | +€1,084 | |
| Total equity and liabilities | 10/49 | €43,860 | €54,208 | +€10,348 | +23.6% |
| Equity | 10/15 | €29,559 | €30,907 | +€1,348 | +4.6% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €11,000 | €11,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,559 | €5,907 | +€1,348 | +29.6% |
| Amounts payable | 17/49 | €14,300 | €23,301 | +€9,000 | +62.9% |
| Amounts payable within one year | 42/48 | €14,300 | €23,301 | +€9,000 | +62.9% |
| Trade debts | 44 | €7,105 | €10,374 | +€3,270 | +46.0% |
| Suppliers | 440/4 | €7,105 | €10,374 | +€3,270 | +46.0% |
| Taxes, remuneration and social security | 45 | €7,196 | €12,093 | +€4,897 | +68.1% |
| Taxes | 450/3 | €7,196 | €3,744 | -€3,452 | -48.0% |
| Remuneration and social security | 454/9 | - | €8,349 | +€8,349 | |
| Other amounts payable | 47/48 | - | €834 | +€834 | |
| Remuneration, social security and pensions | 62 | €3,890 | €36,360 | +€32,470 | +835% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,167 | €2,529 | -€638 | -20.1% |
| Non-recurring operating charges | 66A | €162 | €63 | -€99 | -60.9% |
| Gross operating margin | 9900 | €13,504 | €41,440 | +€27,936 | +207% |
| Operating profit (loss) | 9901 | €6,286 | €2,488 | -€3,797 | -60.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €170 | €312 | +€141 | +83.1% |
| Recurring financial charges | 65 | €170 | €312 | +€141 | +83.1% |
| Profit (loss) for the period before taxes | 9903 | €6,115 | €2,177 | -€3,939 | -64.4% |
| Income taxes | 67/77 | €1,709 | €829 | -€880 | -51.5% |
| Profit (loss) for the period | 9904 | €4,407 | €1,348 | -€3,059 | -69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,407 | €1,348 | -€3,059 | -69.4% |
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 3 November 2026 via checked.be.