EFFICIENS: 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.
EFFICIENS
Largest movements
- Tangible fixed assets -€80,990
down €80,990 (-11.0%), from €737,352 to €656,362
of which Land and buildings: -€103,077
- Receivables within one year +€22,612
up €22,612 (+5.1%), from €446,712 to €469,324
of which Trade receivables: +€93,294
- Debts after one year -€83,833
down €83,833 (-17.2%), from €487,552 to €403,718
- Tax, wage and social debts +€25,511
up €25,511 (+71.0%), from €35,929 to €61,440
of which Remuneration and social security: +€16,059
- Staff costs +€55,140
up €55,140 (+41.4%), from €133,123 to €188,263
- Gross operating margin +€48,273
up €48,273 (+16.6%), from €290,927 to €339,200
- Other operating charges -€13,998
down €13,998 (-82.9%), from €16,878 to €2,880
- Depreciation +€13,296
up €13,296 (+11.4%), from €116,593 to €129,889
- Financial income +€7,500
up €7,500 (+132,979%), from €6 to €7,506
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.
Derived cash bridge
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 | €1,354,356 | €1,284,703 | -€69,653 | -5.1% |
| Fixed assets | 21/28 | €737,352 | €656,362 | -€80,990 | -11.0% |
| Tangible fixed assets | 22/27 | €737,352 | €656,362 | -€80,990 | -11.0% |
| Land and buildings | 22 | €537,556 | €434,479 | -€103,077 | -19.2% |
| Plant, machinery and equipment | 23 | €8,955 | €5,329 | -€3,627 | -40.5% |
| Furniture and vehicles | 24 | €14,168 | €39,882 | +€25,714 | +181% |
| Other tangible fixed assets | 26 | €176,672 | €176,672 | = | 0.0% |
| Current assets | 29/58 | €617,004 | €628,341 | +€11,337 | +1.8% |
| Amounts receivable within one year | 40/41 | €446,712 | €469,324 | +€22,612 | +5.1% |
| Trade receivables | 40 | €373,030 | €466,324 | +€93,294 | +25.0% |
| Other amounts receivable | 41 | €73,681 | €3,000 | -€70,681 | -95.9% |
| Cash at bank and in hand | 54/58 | €170,292 | €159,017 | -€11,275 | -6.6% |
| Total equity and liabilities | 10/49 | €1,354,356 | €1,284,703 | -€69,653 | -5.1% |
| Equity | 10/15 | €213,933 | €219,230 | +€5,296 | +2.5% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Revaluation surpluses | 12 | €176,672 | €176,672 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,175 | €8,472 | +€5,296 | +167% |
| Amounts payable | 17/49 | €1,140,423 | €1,065,474 | -€74,949 | -6.6% |
| Amounts payable after more than one year | 17 | €487,552 | €403,718 | -€83,833 | -17.2% |
| Financial debts | 170/4 | €487,552 | €403,718 | -€83,833 | -17.2% |
| Amounts payable within one year | 42/48 | €652,871 | €661,755 | +€8,884 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €91,464 | €83,833 | -€7,631 | -8.3% |
| Trade debts | 44 | €491,776 | €481,851 | -€9,925 | -2.0% |
| Suppliers | 440/4 | €491,776 | €481,851 | -€9,925 | -2.0% |
| Taxes, remuneration and social security | 45 | €35,929 | €61,440 | +€25,511 | +71.0% |
| Taxes | 450/3 | €29,099 | €38,551 | +€9,452 | +32.5% |
| Remuneration and social security | 454/9 | €6,830 | €22,889 | +€16,059 | +235% |
| Other amounts payable | 47/48 | €33,702 | €34,630 | +€929 | +2.8% |
| Remuneration, social security and pensions | 62 | €133,123 | €188,263 | +€55,140 | +41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,593 | €129,889 | +€13,296 | +11.4% |
| Other operating charges | 640/8 | €16,878 | €2,880 | -€13,998 | -82.9% |
| Gross operating margin | 9900 | €290,927 | €339,200 | +€48,273 | +16.6% |
| Operating profit (loss) | 9901 | €24,333 | €18,167 | -€6,165 | -25.3% |
| Financial income | 75/76B | €6 | €7,506 | +€7,500 | +132,979% |
| Recurring financial income | 75 | €6 | €7,506 | +€7,500 | +132,979% |
| Financial charges | 65/66B | €16,049 | €14,837 | -€1,212 | -7.5% |
| Recurring financial charges | 65 | €16,049 | €14,837 | -€1,212 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €8,290 | €10,836 | +€2,546 | +30.7% |
| Income taxes | 67/77 | €5,114 | €5,540 | +€425 | +8.3% |
| Profit (loss) for the period | 9904 | €3,175 | €5,296 | +€2,121 | +66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,175 | €5,296 | +€2,121 | +66.8% |
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 13 October 2026 via checked.be.