Efficency Team: 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.
Efficency Team
Largest movements
- Receivables within one year +€85,973
up €85,973 (+62.2%), from €138,189 to €224,162
of which Trade receivables: +€81,336
- Tangible fixed assets -€17,737
down €17,737 (-36.8%), from €48,195 to €30,458
of which Furniture and vehicles: -€10,199
- Cash -€7,495
down €7,495 (-37.9%), from €19,786 to €12,291
mainly Receivables within one year (-€85,973) and Investment in fixed assets (net) (-€41,066)
- Intangible fixed assets +€6,271
up €6,271 (+6.3%), from €98,995 to €105,266
- Tax, wage and social debts +€53,199
up €53,199 (+166.8%), from €31,895 to €85,094
of which Taxes: +€40,632
- Profit (loss) carried forward +€52,611
up €52,611 (+180.7%), from €29,108 to €81,719
- Current portion of long-term debt -€21,845
down €21,845 (-34.4%), from €63,437 to €41,592
- Debts after one year -€13,573
down €13,573 (-36.4%), from €37,311 to €23,738
- Gross operating margin +€19,313
up €19,313 (+4.6%), from €416,052 to €435,365
- Taxes +€7,036
up €7,036 (+38.6%), from €18,224 to €25,259
- Staff costs +€6,465
up €6,465 (+2.2%), from €294,241 to €300,706
- Depreciation -€5,479
down €5,479 (-9.4%), from €58,012 to €52,532
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 | €332,665 | €399,677 | +€67,012 | +20.1% |
| Fixed assets | 21/28 | €162,190 | €150,724 | -€11,466 | -7.1% |
| Intangible fixed assets | 21 | €98,995 | €105,266 | +€6,271 | +6.3% |
| Tangible fixed assets | 22/27 | €48,195 | €30,458 | -€17,737 | -36.8% |
| Plant, machinery and equipment | 23 | €23,751 | €16,212 | -€7,539 | -31.7% |
| Furniture and vehicles | 24 | €24,444 | €14,245 | -€10,199 | -41.7% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €170,475 | €248,953 | +€78,478 | +46.0% |
| Amounts receivable within one year | 40/41 | €138,189 | €224,162 | +€85,973 | +62.2% |
| Trade receivables | 40 | €113,412 | €194,748 | +€81,336 | +71.7% |
| Other amounts receivable | 41 | €24,777 | €29,414 | +€4,637 | +18.7% |
| Current investments | 50/53 | €12,500 | €12,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,786 | €12,291 | -€7,495 | -37.9% |
| Total equity and liabilities | 10/49 | €332,665 | €399,677 | +€67,012 | +20.1% |
| Equity | 10/15 | €116,608 | €169,219 | +€52,611 | +45.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €77,500 | €77,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | - | -€12,500 | |
| Own shares acquired | 1312 | - | €12,500 | +€12,500 | |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,108 | €81,719 | +€52,611 | +180.7% |
| Amounts payable | 17/49 | €216,057 | €230,458 | +€14,401 | +6.7% |
| Amounts payable after more than one year | 17 | €37,311 | €23,738 | -€13,573 | -36.4% |
| Financial debts | 170/4 | €37,311 | €23,738 | -€13,573 | -36.4% |
| Amounts payable within one year | 42/48 | €178,746 | €206,720 | +€27,974 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €63,437 | €41,592 | -€21,845 | -34.4% |
| Trade debts | 44 | €83,415 | €80,035 | -€3,380 | -4.1% |
| Suppliers | 440/4 | €83,415 | €80,035 | -€3,380 | -4.1% |
| Taxes, remuneration and social security | 45 | €31,895 | €85,094 | +€53,199 | +166.8% |
| Taxes | 450/3 | - | €40,632 | +€40,632 | |
| Remuneration and social security | 454/9 | €31,895 | €44,462 | +€12,567 | +39.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €294,241 | €300,706 | +€6,465 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,012 | €52,532 | -€5,479 | -9.4% |
| Gross operating margin | 9900 | €416,052 | €435,365 | +€19,313 | +4.6% |
| Operating profit (loss) | 9901 | €63,799 | €82,126 | +€18,327 | +28.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,137 | €4,256 | +€2,119 | +99.2% |
| Recurring financial charges | 65 | €2,137 | €4,256 | +€2,119 | +99.2% |
| Profit (loss) for the period before taxes | 9903 | €61,663 | €77,870 | +€16,208 | +26.3% |
| Income taxes | 67/77 | €18,224 | €25,259 | +€7,036 | +38.6% |
| Profit (loss) for the period | 9904 | €43,439 | €52,611 | +€9,172 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,439 | €52,611 | +€9,172 | +21.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.