EFESIM: 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.
EFESIM
Largest movements
- Cash +€36,657
up €36,657 (+333.1%), from €11,004 to €47,660
mainly Net result for the year (+€44,632) and Tax, wage and social debts (+€22,234)
- Tangible fixed assets -€19,117
down €19,117 (-6.3%), from €301,173 to €282,056
of which Land and buildings: -€18,865
- Receivables within one year +€5,632
up €5,632 (+885.7%), from €636 to €6,268
of which Trade receivables: +€6,268
- Debts after one year -€68,511
down €68,511 (-32.7%), from €209,803 to €141,292
of which Other amounts payable: -€48,772
- Reserves +€44,632
up €44,632 (+57.9%), from €77,138 to €121,770
- Tax, wage and social debts +€22,234
up €22,234 (+193.7%), from €11,476 to €33,711
of which Taxes: +€20,381
- Other debts +€12,204
new in 2025: €12,204
- Trade debts +€7,491
up €7,491 (+827.0%), from €906 to €8,397
- Gross operating margin +€43,838
up €43,838 (+51.1%), from €85,763 to €129,600
- Taxes +€12,484
up €12,484 (+177.7%), from €7,025 to €19,509
- Other operating charges +€3,319
up €3,319 (+157.3%), from €2,109 to €5,428
- Financial charges +€1,629
up €1,629 (+30.5%), from €5,345 to €6,975
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 | €319,010 | €337,855 | +€18,845 | +5.9% |
| Fixed assets | 21/28 | €301,398 | €282,281 | -€19,117 | -6.3% |
| Tangible fixed assets | 22/27 | €301,173 | €282,056 | -€19,117 | -6.3% |
| Land and buildings | 22 | €300,621 | €281,756 | -€18,865 | -6.3% |
| Plant, machinery and equipment | 23 | €152 | - | -€152 | |
| Furniture and vehicles | 24 | €400 | €300 | -€100 | -25.0% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €17,612 | €55,574 | +€37,962 | +215.6% |
| Stocks and contracts in progress | 3 | €2,855 | €908 | -€1,946 | -68.2% |
| Stocks | 30/36 | €2,855 | €908 | -€1,946 | -68.2% |
| Amounts receivable within one year | 40/41 | €636 | €6,268 | +€5,632 | +885.7% |
| Trade receivables | 40 | - | €6,268 | +€6,268 | |
| Other amounts receivable | 41 | €636 | - | -€636 | |
| Cash at bank and in hand | 54/58 | €11,004 | €47,660 | +€36,657 | +333.1% |
| Deferred charges and accrued income | 490/1 | €3,118 | €737 | -€2,381 | -76.4% |
| Total equity and liabilities | 10/49 | €319,010 | €337,855 | +€18,845 | +5.9% |
| Equity | 10/15 | €77,538 | €122,170 | +€44,632 | +57.6% |
| Contributions | 10/11 | €400 | €400 | = | 0.0% |
| Reserves | 13 | €77,138 | €121,770 | +€44,632 | +57.9% |
| Distributable reserves | 133 | €77,138 | €121,770 | +€44,632 | +57.9% |
| Amounts payable | 17/49 | €241,471 | €215,684 | -€25,787 | -10.7% |
| Amounts payable after more than one year | 17 | €209,803 | €141,292 | -€68,511 | -32.7% |
| Financial debts | 170/4 | €161,031 | €141,292 | -€19,739 | -12.3% |
| Other amounts payable | 178/9 | €48,772 | - | -€48,772 | |
| Amounts payable within one year | 42/48 | €31,669 | €74,051 | +€42,382 | +133.8% |
| Current portion of amounts payable after more than one year | 42 | €19,287 | €19,739 | +€453 | +2.3% |
| Trade debts | 44 | €906 | €8,397 | +€7,491 | +827.0% |
| Suppliers | 440/4 | €906 | €8,397 | +€7,491 | +827.0% |
| Taxes, remuneration and social security | 45 | €11,476 | €33,711 | +€22,234 | +193.7% |
| Taxes | 450/3 | €8,779 | €29,159 | +€20,381 | +232.2% |
| Remuneration and social security | 454/9 | €2,698 | €4,551 | +€1,854 | +68.7% |
| Other amounts payable | 47/48 | - | €12,204 | +€12,204 | |
| Accrued charges and deferred income | 492/3 | - | €342 | +€342 | |
| Remuneration, social security and pensions | 62 | €33,456 | €34,023 | +€568 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,416 | €19,117 | -€299 | -1.5% |
| Other operating charges | 640/8 | €2,109 | €5,428 | +€3,319 | +157.3% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Gross operating margin | 9900 | €85,763 | €129,600 | +€43,838 | +51.1% |
| Operating profit (loss) | 9901 | €30,782 | €71,032 | +€40,250 | +130.8% |
| Financial income | 75/76B | €203 | €84 | -€119 | -58.5% |
| Recurring financial income | 75 | €203 | €84 | -€119 | -58.5% |
| Financial charges | 65/66B | €5,345 | €6,975 | +€1,629 | +30.5% |
| Recurring financial charges | 65 | €5,345 | €6,975 | +€1,629 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €25,639 | €64,141 | +€38,502 | +150.2% |
| Income taxes | 67/77 | €7,025 | €19,509 | +€12,484 | +177.7% |
| Profit (loss) for the period | 9904 | €18,615 | €44,632 | +€26,017 | +139.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,615 | €44,632 | +€26,017 | +139.8% |
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.