Effem: 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.
Effem
Largest movements
- Receivables within one year +€452,205
up €452,205 (+275.3%), from €164,287 to €616,492
of which Trade receivables: +€457,989
- Cash -€9,737
down €9,737 (-70.7%), from €13,778 to €4,040
mainly Receivables within one year (-€452,205) and Contributions, distributions and other (-€165,000)
- Other debts +€414,942
up €414,942 (+112.3%), from €369,374 to €784,316
- Trade debts +€16,817
up €16,817, from €0 to €16,817
- Gross operating margin -€17,147
down €17,147 (-8.7%), from €198,189 to €181,042
- Financial charges +€4,396
up €4,396 (+69.7%), from €6,306 to €10,702
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 | €430,559 | €872,527 | +€441,968 | +102.6% |
| Fixed assets | 21/28 | €181,394 | €181,394 | = | 0.0% |
| Tangible fixed assets | 22/27 | €181,394 | €181,394 | = | 0.0% |
| Other tangible fixed assets | 26 | €181,394 | €181,394 | = | 0.0% |
| Current assets | 29/58 | €249,165 | €691,133 | +€441,968 | +177.4% |
| Amounts receivable within one year | 40/41 | €164,287 | €616,492 | +€452,205 | +275.3% |
| Trade receivables | 40 | €158,503 | €616,492 | +€457,989 | +288.9% |
| Other amounts receivable | 41 | €5,784 | €0 | -€5,784 | -100.0% |
| Cash at bank and in hand | 54/58 | €13,778 | €4,040 | -€9,737 | -70.7% |
| Deferred charges and accrued income | 490/1 | €71,100 | €70,600 | -€500 | -0.7% |
| Total equity and liabilities | 10/49 | €430,559 | €872,527 | +€441,968 | +102.6% |
| Equity | 10/15 | €59,280 | €63,212 | +€3,933 | +6.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,280 | €13,212 | +€3,933 | +42.4% |
| Amounts payable | 17/49 | €371,279 | €809,314 | +€438,035 | +118.0% |
| Amounts payable within one year | 42/48 | €371,236 | €809,271 | +€438,035 | +118.0% |
| Trade debts | 44 | €0 | €16,817 | +€16,817 | |
| Suppliers | 440/4 | €0 | €16,817 | +€16,817 | |
| Taxes, remuneration and social security | 45 | €1,862 | €8,138 | +€6,276 | +337.1% |
| Taxes | 450/3 | €1,862 | €8,138 | +€6,276 | +337.1% |
| Other amounts payable | 47/48 | €369,374 | €784,316 | +€414,942 | +112.3% |
| Accrued charges and deferred income | 492/3 | €43 | €43 | = | 0.0% |
| Non-recurring operating income | 76A | €18,940 | - | -€18,940 | |
| Other operating charges | 640/8 | €50 | €340 | +€290 | +579.6% |
| Gross operating margin | 9900 | €198,189 | €181,042 | -€17,147 | -8.7% |
| Operating profit (loss) | 9901 | €198,139 | €180,703 | -€17,436 | -8.8% |
| Financial charges | 65/66B | €6,306 | €10,702 | +€4,396 | +69.7% |
| Recurring financial charges | 65 | €6,306 | €10,702 | +€4,396 | +69.7% |
| Profit (loss) for the period before taxes | 9903 | €191,833 | €170,001 | -€21,832 | -11.4% |
| Income taxes | 67/77 | €1,767 | €1,068 | -€699 | -39.6% |
| Profit (loss) for the period | 9904 | €190,066 | €168,933 | -€21,133 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €190,066 | €168,933 | -€21,133 | -11.1% |
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 9 October 2026 via checked.be.