EFFENSO: what changed
Two fiscal 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.
EFFENSO
Largest movements
- Stocks and contracts +€48,772
up €48,772 (+5.0%), from €975,528 to €1.0m
- Receivables within one year -€35,382
down €35,382 (-32.2%), from €110,012 to €74,630
of which Trade receivables: -€42,802
- Tangible fixed assets -€19,095
down €19,095 (-37.6%), from €50,816 to €31,722
of which Furniture and vehicles: -€22,638
- Current portion of long-term debt -€88,521
down €88,521 (-96.3%), from €91,898 to €3,377
- Trade debts +€78,199
up €78,199 (+36.2%), from €216,092 to €294,291
- Other debts +€37,740
up €37,740 (+2416.5%), from €1,562 to €39,301
- Gross operating margin -€97,251
down €97,251 (-33.4%), from €291,018 to €193,767
- Taxes -€20,120
down €20,120 (-92.6%), from €21,725 to €1,605
- Financial income +€12,147
up €12,147 (+305.8%), from €3,973 to €16,120
- Financial charges -€8,797
down €8,797 (-30.0%), from €29,280 to €20,483
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,171,822 | €1,177,097 | +€5,275 | +0.5% |
| Fixed assets | 21/28 | €57,271 | €37,453 | -€19,817 | -34.6% |
| Intangible fixed assets | 21 | €2,440 | €1,717 | -€723 | -29.6% |
| Tangible fixed assets | 22/27 | €50,816 | €31,722 | -€19,095 | -37.6% |
| Plant, machinery and equipment | 23 | €4,233 | €7,777 | +€3,544 | +83.7% |
| Furniture and vehicles | 24 | €46,583 | €23,944 | -€22,638 | -48.6% |
| Financial fixed assets | 28 | €4,015 | €4,015 | = | 0.0% |
| Current assets | 29/58 | €1,114,551 | €1,139,644 | +€25,092 | +2.3% |
| Stocks and contracts in progress | 3 | €975,528 | €1,024,299 | +€48,772 | +5.0% |
| Stocks | 30/36 | €975,528 | €1,024,299 | +€48,772 | +5.0% |
| Amounts receivable within one year | 40/41 | €110,012 | €74,630 | -€35,382 | -32.2% |
| Trade receivables | 40 | €99,099 | €56,297 | -€42,802 | -43.2% |
| Other amounts receivable | 41 | €10,913 | €18,333 | +€7,420 | +68.0% |
| Cash at bank and in hand | 54/58 | €29,012 | €40,714 | +€11,702 | +40.3% |
| Total equity and liabilities | 10/49 | €1,171,822 | €1,177,097 | +€5,275 | +0.5% |
| Equity | 10/15 | €510,190 | €506,816 | -€3,374 | -0.7% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €497,690 | €494,316 | -€3,374 | -0.7% |
| Distributable reserves | 133 | €497,690 | €494,316 | -€3,374 | -0.7% |
| Amounts payable | 17/49 | €661,632 | €670,281 | +€8,648 | +1.3% |
| Amounts payable after more than one year | 17 | €7,074 | - | -€7,074 | |
| Financial debts | 170/4 | €7,074 | - | -€7,074 | |
| Amounts payable within one year | 42/48 | €648,676 | €670,281 | +€21,605 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €91,898 | €3,377 | -€88,521 | -96.3% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €216,092 | €294,291 | +€78,199 | +36.2% |
| Suppliers | 440/4 | €216,092 | €294,291 | +€78,199 | +36.2% |
| Taxes, remuneration and social security | 45 | €39,124 | €33,312 | -€5,812 | -14.9% |
| Taxes | 450/3 | €15,928 | €8,346 | -€7,582 | -47.6% |
| Remuneration and social security | 454/9 | €23,197 | €24,967 | +€1,770 | +7.6% |
| Other amounts payable | 47/48 | €1,562 | €39,301 | +€37,740 | +2416.5% |
| Accrued charges and deferred income | 492/3 | €5,883 | - | -€5,883 | |
| Remuneration, social security and pensions | 62 | €157,181 | €158,991 | +€1,810 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,446 | €27,059 | -€2,387 | -8.1% |
| Other operating charges | 640/8 | €3,438 | €5,122 | +€1,685 | +49.0% |
| Gross operating margin | 9900 | €291,018 | €193,767 | -€97,251 | -33.4% |
| Operating profit (loss) | 9901 | €100,953 | €2,594 | -€98,359 | -97.4% |
| Financial income | 75/76B | €3,973 | €16,120 | +€12,147 | +305.8% |
| Recurring financial income | 75 | €3,973 | €16,120 | +€12,147 | +305.8% |
| Financial charges | 65/66B | €29,280 | €20,483 | -€8,797 | -30.0% |
| Recurring financial charges | 65 | €29,280 | €20,483 | -€8,797 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €75,646 | -€1,769 | -€77,415 | |
| Income taxes | 67/77 | €21,725 | €1,605 | -€20,120 | -92.6% |
| Profit (loss) for the period | 9904 | €53,921 | -€3,374 | -€57,295 | |
| Profit (loss) for the period to be appropriated | 9905 | €53,921 | -€3,374 | -€57,295 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.