EFFEKT: 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.
EFFEKT
Largest movements
- Receivables within one year +€68,774
up €68,774 (+19.8%), from €346,931 to €415,705
of which Trade receivables: +€77,669
- Cash -€68,146
down €68,146 (-34.8%), from €195,708 to €127,563
mainly Receivables within one year (-€68,774) and Other debts (-€6,686)
- Other debts -€6,686
down €6,686 (-60.6%), from €11,034 to €4,349
- Gross operating margin +€48,101
up €48,101 (+70.4%), from €68,280 to €116,382
- Financial charges -€1,508
down €1,508 (-96.1%), from €1,569 to €61
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 | €564,958 | €560,232 | -€4,726 | -0.8% |
| Fixed assets | 21/28 | €12,955 | €9,387 | -€3,568 | -27.5% |
| Tangible fixed assets | 22/27 | €12,955 | €9,387 | -€3,568 | -27.5% |
| Plant, machinery and equipment | 23 | €1,690 | €1,245 | -€446 | -26.4% |
| Furniture and vehicles | 24 | €11,265 | €8,143 | -€3,122 | -27.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €552,003 | €550,845 | -€1,158 | -0.2% |
| Amounts receivable within one year | 40/41 | €346,931 | €415,705 | +€68,774 | +19.8% |
| Trade receivables | 40 | €332,331 | €410,000 | +€77,669 | +23.4% |
| Other amounts receivable | 41 | €14,601 | €5,705 | -€8,895 | -60.9% |
| Cash at bank and in hand | 54/58 | €195,708 | €127,563 | -€68,146 | -34.8% |
| Deferred charges and accrued income | 490/1 | €9,363 | €7,577 | -€1,786 | -19.1% |
| Total equity and liabilities | 10/49 | €564,958 | €560,232 | -€4,726 | -0.8% |
| Equity | 10/15 | €434,861 | €439,151 | +€4,290 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €516,189 | €516,189 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,967 | €6,967 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,967 | €6,967 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,454 | €5,454 | = | 0.0% |
| Distributable reserves | 133 | €503,768 | €503,768 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,928 | -€95,638 | +€4,290 | +4.3% |
| Amounts payable | 17/49 | €130,097 | €121,081 | -€9,016 | -6.9% |
| Amounts payable within one year | 42/48 | €126,397 | €117,920 | -€8,477 | -6.7% |
| Trade debts | 44 | €96,701 | €96,424 | -€277 | -0.3% |
| Suppliers | 440/4 | €96,701 | €96,424 | -€277 | -0.3% |
| Taxes, remuneration and social security | 45 | €18,662 | €17,147 | -€1,515 | -8.1% |
| Taxes | 450/3 | €3,955 | €301 | -€3,653 | -92.4% |
| Remuneration and social security | 454/9 | €14,708 | €16,846 | +€2,139 | +14.5% |
| Other amounts payable | 47/48 | €11,034 | €4,349 | -€6,686 | -60.6% |
| Accrued charges and deferred income | 492/3 | €3,700 | €3,161 | -€539 | -14.6% |
| Non-recurring operating income | 76A | €5,163 | €0 | -€5,163 | -100% |
| Remuneration, social security and pensions | 62 | €95,666 | €96,144 | +€478 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,853 | €3,568 | +€715 | +25.1% |
| Other operating charges | 640/8 | €3,616 | €2,795 | -€821 | -22.7% |
| Gross operating margin | 9900 | €68,280 | €116,382 | +€48,101 | +70.4% |
| Operating profit (loss) | 9901 | -€33,854 | €13,874 | +€47,729 | |
| Financial income | 75/76B | €24 | €36 | +€12 | +50.8% |
| Recurring financial income | 75 | €24 | €36 | +€12 | +50.8% |
| Financial charges | 65/66B | €1,569 | €61 | -€1,508 | -96.1% |
| Recurring financial charges | 65 | €1,569 | €61 | -€1,508 | -96.1% |
| Profit (loss) for the period before taxes | 9903 | -€35,400 | €13,849 | +€49,249 | |
| Income taxes | 67/77 | €10,098 | €9,559 | -€539 | -5.3% |
| Profit (loss) for the period | 9904 | -€45,498 | €4,290 | +€49,788 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,498 | €4,290 | +€49,788 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.