EFFECTIEF: 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.
EFFECTIEF
Largest movements
- Cash -€15,731
down €15,731 (-44.5%), from €35,348 to €19,617
mainly Other debts (-€43,974) and Debts after one year (-€30,180)
- Other debts -€43,974
down €43,974 (-62.1%), from €70,756 to €26,782
- Reserves +€30,304
up €30,304 (+14.4%), from €209,967 to €240,271
of which Distributable reserves: +€30,304
- Debts after one year -€30,180
down €30,180 (-14.0%), from €216,000 to €185,820
of which Financial debts: -€216,000
- Current portion of long-term debt +€20,347
new in 2025: €20,347
- Taxes +€3,081
up €3,081 (+85.4%), from €3,609 to €6,690
- Financial charges -€941
down €941 (-6.7%), from €13,975 to €13,034
- Gross operating margin -€920
down €920 (-1.2%), from €78,727 to €77,807
- Depreciation +€914
up €914 (+3.6%), from €25,086 to €25,999
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 | €563,182 | €547,659 | -€15,523 | -2.8% |
| Fixed assets | 21/28 | €498,039 | €492,510 | -€5,529 | -1.1% |
| Tangible fixed assets | 22/27 | €498,039 | €492,510 | -€5,529 | -1.1% |
| Land and buildings | 22 | €494,024 | €489,397 | -€4,627 | -0.9% |
| Furniture and vehicles | 24 | €4,015 | €3,113 | -€902 | -22.5% |
| Current assets | 29/58 | €65,142 | €55,148 | -€9,994 | -15.3% |
| Amounts receivable within one year | 40/41 | €27,104 | €32,399 | +€5,295 | +19.5% |
| Trade receivables | 40 | €27,104 | €29,040 | +€1,936 | +7.1% |
| Other amounts receivable | 41 | - | €3,359 | +€3,359 | |
| Cash at bank and in hand | 54/58 | €35,348 | €19,617 | -€15,731 | -44.5% |
| Deferred charges and accrued income | 490/1 | €2,690 | €3,132 | +€442 | +16.4% |
| Total equity and liabilities | 10/49 | €563,182 | €547,659 | -€15,523 | -2.8% |
| Equity | 10/15 | €217,967 | €248,271 | +€30,304 | +13.9% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €209,967 | €240,271 | +€30,304 | +14.4% |
| 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 | €208,107 | €238,411 | +€30,304 | +14.6% |
| Provisions and deferred taxes | 16 | €18,000 | €18,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €18,000 | €18,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €18,000 | €18,000 | = | 0.0% |
| Amounts payable | 17/49 | €327,215 | €281,388 | -€45,827 | -14.0% |
| Amounts payable after more than one year | 17 | €216,000 | €185,820 | -€30,180 | -14.0% |
| Financial debts | 170/4 | €216,000 | - | -€216,000 | |
| Other amounts payable | 178/9 | - | €185,820 | +€185,820 | |
| Amounts payable within one year | 42/48 | €83,669 | €64,836 | -€18,833 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | - | €20,347 | +€20,347 | |
| Financial debts | 43 | - | €3,371 | +€3,371 | |
| Credit institutions | 430/8 | - | €3,371 | +€3,371 | |
| Trade debts | 44 | €3,308 | €3,269 | -€39 | -1.2% |
| Suppliers | 440/4 | €3,308 | €3,269 | -€39 | -1.2% |
| Taxes, remuneration and social security | 45 | €9,605 | €11,067 | +€1,461 | +15.2% |
| Taxes | 450/3 | €9,605 | €11,067 | +€1,461 | +15.2% |
| Other amounts payable | 47/48 | €70,756 | €26,782 | -€43,974 | -62.1% |
| Accrued charges and deferred income | 492/3 | €27,546 | €30,733 | +€3,187 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,086 | €25,999 | +€914 | +3.6% |
| Other operating charges | 640/8 | €1,835 | €1,949 | +€113 | +6.2% |
| Gross operating margin | 9900 | €78,727 | €77,807 | -€920 | -1.2% |
| Operating profit (loss) | 9901 | €51,806 | €49,859 | -€1,947 | -3.8% |
| Financial income | 75/76B | €403 | €169 | -€234 | -58.1% |
| Recurring financial income | 75 | €403 | €169 | -€234 | -58.1% |
| Financial charges | 65/66B | €13,975 | €13,034 | -€941 | -6.7% |
| Recurring financial charges | 65 | €13,975 | €13,034 | -€941 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €38,234 | €36,994 | -€1,240 | -3.2% |
| Income taxes | 67/77 | €3,609 | €6,690 | +€3,081 | +85.4% |
| Profit (loss) for the period | 9904 | €34,625 | €30,304 | -€4,321 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,625 | €30,304 | -€4,321 | -12.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.