EFFEL: 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.
EFFEL
Largest movements
- Cash +€1,643
up €1,643 (+260%), from €632 to €2,275
mainly Other debts (+€8,997) and Depreciation (+€412)
- Tangible fixed assets +€413
up €413 (+142%), from €291 to €704
- Receivables within one year -€119
down €119 (-40.6%), from €293 to €174
- Financial fixed assets -€91
down €91 (-13.2%), from €691 to €600
- Other debts +€8,997
up €8,997 (+9.2%), from €98,303 to €107,300
- Profit (loss) carried forward -€6,850
down €6,850 (-6.6%), from -€104,064 to -€110,914
- Trade debts -€352
down €352 (-28.9%), from €1,218 to €866
- Tax, wage and social debts +€51
up €51 (+20.4%), from €250 to €301
- Gross operating margin +€6,565
up €6,565 (+93.5%), from -€7,018 to -€453
- Financial charges +€1,205
up €1,205 (+32.8%), from €3,676 to €4,881
- Depreciation -€289
down €289 (-41.2%), from €701 to €412
- Taxes -€237
down €237 (-82.0%), from €289 to €52
- Other operating charges +€153
up €153 (+17.0%), from €899 to €1,052
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 | €1,907 | €3,753 | +€1,846 | +96.8% |
| Fixed assets | 21/28 | €982 | €1,304 | +€322 | +32.8% |
| Tangible fixed assets | 22/27 | €291 | €704 | +€413 | +142% |
| Furniture and vehicles | 24 | €291 | €704 | +€413 | +142% |
| Financial fixed assets | 28 | €691 | €600 | -€91 | -13.2% |
| Current assets | 29/58 | €925 | €2,449 | +€1,524 | +165% |
| Amounts receivable within one year | 40/41 | €293 | €174 | -€119 | -40.6% |
| Other amounts receivable | 41 | €293 | €174 | -€119 | -40.6% |
| Cash at bank and in hand | 54/58 | €632 | €2,275 | +€1,643 | +260% |
| Total equity and liabilities | 10/49 | €1,907 | €3,753 | +€1,846 | +96.8% |
| Equity | 10/15 | -€97,864 | -€104,714 | -€6,850 | -7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,064 | -€110,914 | -€6,850 | -6.6% |
| Amounts payable | 17/49 | €99,771 | €108,467 | +€8,696 | +8.7% |
| Amounts payable within one year | 42/48 | €99,771 | €108,467 | +€8,696 | +8.7% |
| Trade debts | 44 | €1,218 | €866 | -€352 | -28.9% |
| Suppliers | 440/4 | €1,218 | €866 | -€352 | -28.9% |
| Taxes, remuneration and social security | 45 | €250 | €301 | +€51 | +20.4% |
| Taxes | 450/3 | €250 | €301 | +€51 | +20.4% |
| Other amounts payable | 47/48 | €98,303 | €107,300 | +€8,997 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €701 | €412 | -€289 | -41.2% |
| Other operating charges | 640/8 | €899 | €1,052 | +€153 | +17.0% |
| Gross operating margin | 9900 | -€7,018 | -€453 | +€6,565 | +93.5% |
| Operating profit (loss) | 9901 | -€8,618 | -€1,917 | +€6,701 | +77.8% |
| Financial charges | 65/66B | €3,676 | €4,881 | +€1,205 | +32.8% |
| Recurring financial charges | 65 | €3,676 | €4,881 | +€1,205 | +32.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,294 | -€6,798 | +€5,496 | +44.7% |
| Income taxes | 67/77 | €289 | €52 | -€237 | -82.0% |
| Profit (loss) for the period | 9904 | -€12,583 | -€6,850 | +€5,733 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,583 | -€6,850 | +€5,733 | +45.6% |
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 13 October 2026 via checked.be.