EFFICACE: 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.
What changed
EFFICACE
NACE 69.209, Other tax advisory services
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€290,638
2023 · €295,396-€586,035
Equity
€3.0m
2023 · €3.3m-€270,274
Cash
€41,727
2023 · €30,786+€10,941
Balance sheet total
€15.8m
2023 · €20.1m-€4.3m
Largest movements
Assets
- Financial fixed assets -€3.8m
down €3.8m (-23.2%), from €16.3m to €12.5m
- Receivables after one year -€754,049
no longer reported in 2024 (was €754,049)
Equity and liabilities
- Debts after one year -€4.0m
down €4.0m (-24.8%), from €16.0m to €12.0m
of which Other amounts payable: -€3.8m
- Reserves -€288,328
down €288,328 (-9.6%), from €3.0m to €2.7m
of which Tax-exempt reserves: -€218,328
- Trade debts +€213,323
up €213,323 (+1,251%), from €17,054 to €230,377
Income statement
- Write-downs +€665,790
up €665,790 (+1,109%), from €60,059 to €725,849
- Staff costs -€84,667
down €84,667, from €76,299 to -€8,368
- Financial income -€78,040
down €78,040 (-16.9%), from €463,008 to €384,968
of which Financial income: -€115,065
- Purchases and services +€74,373
up €74,373 (+119%), from €62,246 to €136,619
- Taxes +€72,820
up €72,820 (+22,724%), from €320 to €73,140
From the 2023 result to the 2024 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.
Result 2023
€295,396
Gross operating margin
+€56,390
Staff costs
+€84,667
Depreciation
+€4,270
Write-downs
-€665,790
Other operating charges
-€5,724
Financial income
-€78,040
Financial charges
-€21,460
Taxes
-€72,820
Deferred taxes and other
+€112,472
Result 2024
-€290,638
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€276,308
Investment
+€3.7m
Financing
-€3.9m
Cash 2023
€30,786
From operations (derived)
+€276,308
Net result for the year
-€290,638
Depreciation
+€35,133
Receivables after one year
+€754,049
Stocks and contracts
-€104,347
Receivables within one year
-€103,606
Provisions
-€112,472
Trade debts
+€213,323
Tax, wage and social debts
-€83,301
Accrued charges and deferred income
-€31,832
Investment (derived)
+€3.7m
Investment in fixed assets (net)
+€3.7m
Financing
-€3.9m
Debts after one year
-€4.0m
Current portion of long-term debt
-€6,609
Contributions, distributions and other
+€20,365
Cash 2024
€41,727
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,056,537 | €15,802,666 | -€4.3m | -21.2% |
| Fixed assets | 21/28 | €18,949,554 | €15,230,838 | -€3.7m | -19.6% |
| Intangible fixed assets | 21 | €1,280 | - | -€1,280 | |
| Tangible fixed assets | 22/27 | €2,673,939 | €2,733,276 | +€59,337 | +2.2% |
| Land and buildings | 22 | €1,046,375 | €1,023,466 | -€22,910 | -2.2% |
| Furniture and vehicles | 24 | €45,797 | €53,004 | +€7,206 | +15.7% |
| Assets under construction and advance payments | 27 | €1,581,766 | €1,656,806 | +€75,040 | +4.7% |
| Financial fixed assets | 28 | €16,274,336 | €12,497,562 | -€3.8m | -23.2% |
| Current assets | 29/58 | €1,106,983 | €571,828 | -€535,154 | -48.3% |
| Amounts receivable after more than one year | 29 | €754,049 | - | -€754,049 | |
| Other amounts receivable | 291 | €754,049 | - | -€754,049 | |
| Stocks and contracts in progress | 3 | - | €104,347 | +€104,347 | |
| Contracts in progress | 37 | - | €104,347 | +€104,347 | |
| Amounts receivable within one year | 40/41 | €322,148 | €425,754 | +€103,606 | +32.2% |
| Trade receivables | 40 | €321,856 | €416,947 | +€95,091 | +29.5% |
| Other amounts receivable | 41 | €293 | €8,808 | +€8,515 | +2,911% |
| Cash at bank and in hand | 54/58 | €30,786 | €41,727 | +€10,941 | +35.5% |
| Total equity and liabilities | 10/49 | €20,056,537 | €15,802,666 | -€4.3m | -21.2% |
| Equity | 10/15 | €3,306,086 | €3,035,812 | -€270,274 | -8.2% |
| Contributions | 10/11 | €258,842 | €258,842 | = | 0.0% |
| Capital | 10 | €258,842 | €258,842 | = | 0.0% |
| Issued capital | 100 | €258,842 | €258,842 | = | 0.0% |
| Revaluation surpluses | 12 | €27,407 | €47,797 | +€20,390 | +74.4% |
| Reserves | 13 | €3,000,328 | €2,712,000 | -€288,328 | -9.6% |
| Non-distributable reserves | 130/1 | €26,000 | €26,000 | = | 0.0% |
| Legal reserve | 130 | €26,000 | €26,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €218,328 | - | -€218,328 | |
| Distributable reserves | 133 | €2,756,000 | €2,686,000 | -€70,000 | -2.5% |
| Profit (loss) carried forward | 14 | €19,509 | €17,173 | -€2,336 | -12.0% |
| Provisions and deferred taxes | 16 | €386,993 | €274,521 | -€112,472 | -29.1% |
| Provisions for liabilities and charges | 160/5 | €274,521 | €274,521 | = | 0.0% |
| Taxes | 161 | €274,521 | €274,521 | = | 0.0% |
| Deferred taxes | 168 | €112,472 | - | -€112,472 | |
| Amounts payable | 17/49 | €16,363,458 | €12,492,333 | -€3.9m | -23.7% |
| Amounts payable after more than one year | 17 | €16,005,053 | €12,042,347 | -€4.0m | -24.8% |
| Financial debts | 170/4 | €826,211 | €637,885 | -€188,326 | -22.8% |
| Advances received on contracts in progress | 176 | €1,638 | - | -€1,638 | |
| Other amounts payable | 178/9 | €15,177,203 | €11,404,462 | -€3.8m | -24.9% |
| Amounts payable within one year | 42/48 | €312,526 | €435,939 | +€123,413 | +39.5% |
| Current portion of amounts payable after more than one year | 42 | €194,935 | €188,326 | -€6,609 | -3.4% |
| Trade debts | 44 | €17,054 | €230,377 | +€213,323 | +1,251% |
| Suppliers | 440/4 | €17,054 | €230,377 | +€213,323 | +1,251% |
| Taxes, remuneration and social security | 45 | €100,536 | €17,235 | -€83,301 | -82.9% |
| Taxes | 450/3 | €67,152 | €17,235 | -€49,917 | -74.3% |
| Remuneration and social security | 454/9 | €33,384 | - | -€33,384 | |
| Accrued charges and deferred income | 492/3 | €45,879 | €14,047 | -€31,832 | -69.4% |
| Turnover | 70 | €105,000 | €99,398 | -€5,603 | -5.3% |
| Non-recurring operating income | 76A | - | €31,254 | +€31,254 | |
| Goods, raw materials, services and sundry goods | 60/61 | €62,246 | €136,619 | +€74,373 | +119% |
| Remuneration, social security and pensions | 62 | €76,299 | -€8,368 | -€84,667 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,403 | €35,133 | -€4,270 | -10.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,059 | €725,849 | +€665,790 | +1,109% |
| Other operating charges | 640/8 | €8,346 | €14,070 | +€5,724 | +68.6% |
| Gross operating margin | 9900 | €43,413 | €99,803 | +€56,390 | +130% |
| Operating profit (loss) | 9901 | -€140,695 | -€666,881 | -€526,187 | -374% |
| Financial income | 75/76B | €463,008 | €384,968 | -€78,040 | -16.9% |
| Recurring financial income | 75 | €463,008 | €347,943 | -€115,065 | -24.9% |
| Non-recurring financial income | 76B | - | €37,025 | +€37,025 | |
| Financial charges | 65/66B | €26,597 | €48,057 | +€21,460 | +80.7% |
| Recurring financial charges | 65 | €26,597 | €34,373 | +€7,776 | +29.2% |
| Non-recurring financial charges | 66B | - | €13,684 | +€13,684 | |
| Profit (loss) for the period before taxes | 9903 | €295,717 | -€329,970 | -€625,687 | |
| Transfer from deferred taxes | 780 | - | €112,472 | +€112,472 | |
| Income taxes | 67/77 | €320 | €73,140 | +€72,820 | +22,724% |
| Profit (loss) for the period | 9904 | €295,396 | -€290,638 | -€586,035 | |
| Transfer from tax-exempt reserves | 789 | - | €218,328 | +€218,328 | |
| Profit (loss) for the period to be appropriated | 9905 | €295,396 | -€72,310 | -€367,707 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.