Effendi: 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.
Effendi
Largest movements
- Tangible fixed assets -€2,900
down €2,900 (-4.5%), from €64,915 to €62,014
of which Land and buildings: -€2,688
- Stocks and contracts -€2,209
down €2,209 (-14.2%), from €15,523 to €13,314
- Debts after one year -€5,552
down €5,552 (-38.9%), from €14,267 to €8,715
- Trade debts +€3,036
up €3,036 (+72.6%), from €4,182 to €7,218
- Other debts -€1,736
down €1,736 (-1.0%), from €170,529 to €168,794
- Profit (loss) carried forward -€1,126
down €1,126 (-0.9%), from -€125,807 to -€126,933
- Write-downs -€5,174
down €5,174 (-100.0%), from €5,174 to €0
- Gross operating margin -€539
down €539 (-10.2%), from €5,259 to €4,720
- Financial charges +€63
up €63 (+6.6%), from €952 to €1,015
- Other operating charges +€59
up €59 (+3.1%), from €1,872 to €1,931
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 | €80,926 | €75,746 | -€5,180 | -6.4% |
| Fixed assets | 21/28 | €64,915 | €62,014 | -€2,900 | -4.5% |
| Tangible fixed assets | 22/27 | €64,915 | €62,014 | -€2,900 | -4.5% |
| Land and buildings | 22 | €64,263 | €61,575 | -€2,688 | -4.2% |
| Furniture and vehicles | 24 | €652 | €440 | -€212 | -32.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €16,011 | €13,732 | -€2,280 | -14.2% |
| Stocks and contracts in progress | 3 | €15,523 | €13,314 | -€2,209 | -14.2% |
| Stocks | 30/36 | €15,523 | €13,314 | -€2,209 | -14.2% |
| Amounts receivable within one year | 40/41 | €488 | €400 | -€89 | -18.2% |
| Trade receivables | 40 | €41 | €0 | -€41 | -100.0% |
| Other amounts receivable | 41 | €447 | €400 | -€47 | -10.6% |
| Cash at bank and in hand | 54/58 | €0 | €18 | +€18 | |
| Total equity and liabilities | 10/49 | €80,926 | €75,746 | -€5,180 | -6.4% |
| Equity | 10/15 | -€113,407 | -€114,533 | -€1,126 | -1.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€125,807 | -€126,933 | -€1,126 | -0.9% |
| Amounts payable | 17/49 | €194,333 | €190,279 | -€4,054 | -2.1% |
| Amounts payable after more than one year | 17 | €14,267 | €8,715 | -€5,552 | -38.9% |
| Financial debts | 170/4 | €14,267 | €8,715 | -€5,552 | -38.9% |
| Amounts payable within one year | 42/48 | €180,066 | €181,564 | +€1,498 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €5,354 | €5,552 | +€198 | +3.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,182 | €7,218 | +€3,036 | +72.6% |
| Suppliers | 440/4 | €4,182 | €7,218 | +€3,036 | +72.6% |
| Other amounts payable | 47/48 | €170,529 | €168,794 | -€1,736 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,900 | €2,900 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,174 | €0 | -€5,174 | -100.0% |
| Other operating charges | 640/8 | €1,872 | €1,931 | +€59 | +3.1% |
| Gross operating margin | 9900 | €5,259 | €4,720 | -€539 | -10.2% |
| Operating profit (loss) | 9901 | -€4,687 | -€111 | +€4,577 | +97.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €952 | €1,015 | +€63 | +6.6% |
| Recurring financial charges | 65 | €952 | €1,015 | +€63 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,640 | -€1,126 | +€4,514 | +80.0% |
| Profit (loss) for the period | 9904 | -€5,640 | -€1,126 | +€4,514 | +80.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,640 | -€1,126 | +€4,514 | +80.0% |
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.