EFFE ANDERS: 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.
EFFE ANDERS
Largest movements
- Receivables within one year +€19,800
up €19,800 (+15.2%), from €130,577 to €150,377
of which Other amounts receivable: +€19,800
- Stocks and contracts -€16,313
down €16,313 (-10.2%), from €159,555 to €143,242
- Cash -€10,316
down €10,316 (-97.6%), from €10,574 to €258
mainly Trade debts (-€35,327) and Receivables within one year (-€19,800)
- Tangible fixed assets +€5,836
up €5,836 (+138%), from €4,230 to €10,066
of which Furniture and vehicles: +€4,298
- Reserves +€45,219
up €45,219 (+61.4%), from €73,679 to €118,898
- Trade debts -€35,327
down €35,327 (-36.0%), from €98,072 to €62,745
- Tax, wage and social debts -€14,580
down €14,580 (-17.0%), from €85,900 to €71,320
of which Taxes: -€14,381
- Short-term financial debts +€3,134
up €3,134 (+27.9%), from €11,215 to €14,349
- Gross operating margin +€10,738
up €10,738 (+14.7%), from €73,094 to €83,832
- Other operating charges -€10,236
down €10,236 (-84.4%), from €12,123 to €1,887
- Financial charges +€4,397
up €4,397 (+46.9%), from €9,367 to €13,765
- Financial income +€3,838
up €3,838 (+58.3%), from €6,583 to €10,421
- Staff costs +€2,980
up €2,980 (+25.2%), from €11,824 to €14,804
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.
Derived cash bridge
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 | €306,986 | €305,433 | -€1,554 | -0.5% |
| Fixed assets | 21/28 | €4,455 | €10,291 | +€5,836 | +131% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €4,230 | €10,066 | +€5,836 | +138% |
| Land and buildings | 22 | €1,787 | €3,325 | +€1,537 | +86.0% |
| Furniture and vehicles | 24 | €2,443 | €6,741 | +€4,298 | +176% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €302,531 | €295,142 | -€7,390 | -2.4% |
| Stocks and contracts in progress | 3 | €159,555 | €143,242 | -€16,313 | -10.2% |
| Stocks | 30/36 | €159,555 | €143,242 | -€16,313 | -10.2% |
| Amounts receivable within one year | 40/41 | €130,577 | €150,377 | +€19,800 | +15.2% |
| Trade receivables | 40 | €1,219 | €1,219 | = | 0.0% |
| Other amounts receivable | 41 | €129,358 | €149,158 | +€19,800 | +15.3% |
| Cash at bank and in hand | 54/58 | €10,574 | €258 | -€10,316 | -97.6% |
| Deferred charges and accrued income | 490/1 | €1,826 | €1,265 | -€561 | -30.7% |
| Total equity and liabilities | 10/49 | €306,986 | €305,433 | -€1,554 | -0.5% |
| Equity | 10/15 | €79,879 | €125,098 | +€45,219 | +56.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €73,679 | €118,898 | +€45,219 | +61.4% |
| Distributable reserves | 133 | €73,679 | €118,898 | +€45,219 | +61.4% |
| Amounts payable | 17/49 | €227,108 | €180,335 | -€46,773 | -20.6% |
| Amounts payable within one year | 42/48 | €227,108 | €180,335 | -€46,773 | -20.6% |
| Financial debts | 43 | €11,215 | €14,349 | +€3,134 | +27.9% |
| Credit institutions | 430/8 | €11,215 | €14,349 | +€3,134 | +27.9% |
| Trade debts | 44 | €98,072 | €62,745 | -€35,327 | -36.0% |
| Suppliers | 440/4 | €98,072 | €62,745 | -€35,327 | -36.0% |
| Advances received on contracts in progress | 46 | €420 | €420 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €85,900 | €71,320 | -€14,580 | -17.0% |
| Taxes | 450/3 | €83,397 | €69,017 | -€14,381 | -17.2% |
| Remuneration and social security | 454/9 | €2,503 | €2,304 | -€199 | -8.0% |
| Other amounts payable | 47/48 | €31,500 | €31,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €11,824 | €14,804 | +€2,980 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,823 | €2,848 | +€25 | +0.9% |
| Other operating charges | 640/8 | €12,123 | €1,887 | -€10,236 | -84.4% |
| Gross operating margin | 9900 | €73,094 | €83,832 | +€10,738 | +14.7% |
| Operating profit (loss) | 9901 | €46,325 | €64,293 | +€17,969 | +38.8% |
| Financial income | 75/76B | €6,583 | €10,421 | +€3,838 | +58.3% |
| Recurring financial income | 75 | €6,583 | €10,421 | +€3,838 | +58.3% |
| Financial charges | 65/66B | €9,367 | €13,765 | +€4,397 | +46.9% |
| Recurring financial charges | 65 | €9,367 | €13,765 | +€4,397 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | €43,540 | €60,949 | +€17,409 | +40.0% |
| Income taxes | 67/77 | €15,057 | €15,731 | +€673 | +4.5% |
| Profit (loss) for the period | 9904 | €28,483 | €45,219 | +€16,735 | +58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,483 | €45,219 | +€16,735 | +58.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.