EFFICY: 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.
What changed
EFFICY
NACE 46.500, Wholesale of information and communication equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€45.8m
2024 · -€3.3m+€49.1m
Equity
€138.3m
2024 · €92.4m+€45.8m
Cash
€300,728
2024 · €349,306-€48,579
Balance sheet total
€204.4m
2024 · €148.1m+€56.3m
Largest movements
Assets
- Financial fixed assets +€48.9m
up €48.9m (+38.4%), from €127.3m to €176.2m
of which Affiliated companies: +€48.9m
- Receivables within one year +€8.4m
up €8.4m (+51.7%), from €16.2m to €24.5m
of which Other amounts receivable: +€5.5m
Equity and liabilities
- Profit (loss) carried forward +€46.6m
up €46.6m (+305.9%), from €15.2m to €61.9m
- Debts after one year +€11.6m
up €11.6m (+68.5%), from €16.9m to €28.5m
- Other debts +€7.2m
up €7.2m (+35.8%), from €20.2m to €27.4m
- Short-term financial debts -€5.9m
no longer reported in 2025 (was €5.9m)
- Current portion of long-term debt -€2.5m
down €2.5m (-95.3%), from €2.6m to €123,311
Income statement
- Financial income +€69.4m
up €69.4m (+3721.8%), from €1.9m to €71.3m
of which Non-recurring financial income: +€67.5m
- Financial charges +€18.5m
up €18.5m (+852.5%), from €2.2m to €20.7m
of which Non-recurring financial charges: +€18.7m
- Other operating income +€3.5m
up €3.5m (+38.5%), from €9.1m to €12.5m
- Turnover -€2.0m
down €2.0m (-25.8%), from €7.6m to €5.6m
- Goods and materials +€1.6m
up €1.6m (+35.7%), from €4.5m to €6.1m
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.
Result 2024
-€3.3m
Turnover
-€2.0m
Other operating income
+€3.5m
Goods and materials
-€1.6m
Services and other goods
-€579,820
Staff costs
-€323,136
Depreciation
+€50,971
Write-downs
-€41,043
Provisions
-€234,907
Other operating charges
+€35,224
Other operating items
-€599,118
Financial income
+€69.4m
Financial charges
-€18.5m
Taxes
+€29
Result 2025
€45.8m
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.
From operations
+€44.9m
Investment
-€48.1m
Financing
+€3.2m
Cash 2024
€349,306
From operations (derived)
+€44.9m
Net result for the year
+€45.8m
Depreciation
+€327,976
Receivables within one year
-€8.4m
Deferred charges and accrued income
-€213,516
Trade debts
+€860,816
Tax, wage and social debts
-€236,476
Other debts
+€7.2m
Accrued charges and deferred income
-€548,288
Investment (derived)
-€48.1m
Investment in fixed assets (net)
-€48.9m
Current investments
+€792,453
Financing
+€3.2m
Debts after one year
+€11.6m
Current portion of long-term debt
-€2.5m
Short-term financial debts
-€5.9m
Cash 2025
€300,728
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,148,629 | €204,436,933 | +€56.3m | +38.0% |
| Fixed assets | 21/28 | €128,291,127 | €176,840,590 | +€48.5m | +37.8% |
| Tangible fixed assets | 22/27 | €954,957 | €620,436 | -€334,521 | -35.0% |
| Plant, machinery and equipment | 23 | €72,599 | €30,914 | -€41,685 | -57.4% |
| Furniture and vehicles | 24 | €588,348 | €340,403 | -€247,944 | -42.1% |
| Other tangible fixed assets | 26 | €294,011 | €249,119 | -€44,892 | -15.3% |
| Financial fixed assets | 28 | €127,336,170 | €176,220,154 | +€48.9m | +38.4% |
| Affiliated companies | 280/1 | €127,328,859 | €176,212,844 | +€48.9m | +38.4% |
| Participating interests | 280 | €127,328,859 | €176,212,844 | +€48.9m | +38.4% |
| Other financial fixed assets | 284/8 | €7,311 | €7,311 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €7,311 | €7,311 | = | 0.0% |
| Current assets | 29/58 | €19,857,502 | €27,596,343 | +€7.7m | +39.0% |
| Amounts receivable within one year | 40/41 | €16,169,287 | €24,535,643 | +€8.4m | +51.7% |
| Trade receivables | 40 | €11,325,936 | €14,201,429 | +€2.9m | +25.4% |
| Other amounts receivable | 41 | €4,843,351 | €10,334,215 | +€5.5m | +113.4% |
| Current investments | 50/53 | €2,771,001 | €1,978,548 | -€792,453 | -28.6% |
| Own shares | 50 | €2,771,001 | €1,978,548 | -€792,453 | -28.6% |
| Cash at bank and in hand | 54/58 | €349,306 | €300,728 | -€48,579 | -13.9% |
| Deferred charges and accrued income | 490/1 | €567,908 | €781,423 | +€213,516 | +37.6% |
| Total equity and liabilities | 10/49 | €148,148,629 | €204,436,933 | +€56.3m | +38.0% |
| Equity | 10/15 | €92,433,236 | €138,258,848 | +€45.8m | +49.6% |
| Contributions | 10/11 | €72,778,545 | €72,778,545 | = | 0.0% |
| Capital | 10 | €6,593,895 | €6,593,895 | = | 0.0% |
| Issued capital | 100 | €6,593,895 | €6,593,895 | = | 0.0% |
| Outside capital | 11 | €66,184,650 | €66,184,650 | = | 0.0% |
| Share premium | 1100/10 | €66,184,650 | €66,184,650 | = | 0.0% |
| Reserves | 13 | €4,412,992 | €3,620,539 | -€792,453 | -18.0% |
| Non-distributable reserves | 130/1 | €3,430,391 | €2,637,938 | -€792,453 | -23.1% |
| Legal reserve | 130 | €659,390 | €659,390 | = | 0.0% |
| Own shares acquired | 1312 | €2,771,001 | €1,978,548 | -€792,453 | -28.6% |
| Distributable reserves | 133 | €982,601 | €982,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,241,699 | €61,859,764 | +€46.6m | +305.9% |
| Provisions and deferred taxes | 16 | €70,323 | €70,323 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €70,323 | €70,323 | = | 0.0% |
| Other liabilities and charges | 164/5 | €70,323 | €70,323 | = | 0.0% |
| Amounts payable | 17/49 | €55,645,070 | €66,107,762 | +€10.5m | +18.8% |
| Amounts payable after more than one year | 17 | €16,910,894 | €28,491,221 | +€11.6m | +68.5% |
| Financial debts | 170/4 | €16,910,894 | €28,491,221 | +€11.6m | +68.5% |
| Subordinated loans | 170 | €1,064,438 | - | -€1.1m | |
| Credit institutions | 173 | €15,846,455 | €183,363 | -€15.7m | -98.8% |
| Other loans | 174 | - | €28,307,858 | +€28.3m | |
| Amounts payable within one year | 42/48 | €35,357,950 | €34,788,602 | -€569,348 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €2,635,024 | €123,311 | -€2.5m | -95.3% |
| Financial debts | 43 | €5,913,307 | - | -€5.9m | |
| Credit institutions | 430/8 | €5,913,307 | - | -€5.9m | |
| Trade debts | 44 | €5,442,990 | €6,303,806 | +€860,816 | +15.8% |
| Suppliers | 440/4 | €5,442,990 | €6,303,806 | +€860,816 | +15.8% |
| Taxes, remuneration and social security | 45 | €1,167,287 | €930,811 | -€236,476 | -20.3% |
| Taxes | 450/3 | €93,054 | €41,988 | -€51,066 | -54.9% |
| Remuneration and social security | 454/9 | €1,074,233 | €888,823 | -€185,410 | -17.3% |
| Other amounts payable | 47/48 | €20,199,342 | €27,430,674 | +€7.2m | +35.8% |
| Accrued charges and deferred income | 492/3 | €3,376,226 | €2,827,939 | -€548,288 | -16.2% |
| Operating income | 70/76A | €16,650,321 | €18,188,644 | +€1.5m | +9.2% |
| Turnover | 70 | €7,590,014 | €5,633,964 | -€2.0m | -25.8% |
| Other operating income | 74 | €9,060,307 | €12,547,511 | +€3.5m | +38.5% |
| Non-recurring operating income | 76A | - | €7,169 | +€7,169 | |
| Operating charges | 60/66A | €19,597,389 | €22,906,319 | +€3.3m | +16.9% |
| Goods for resale, raw materials and consumables | 60 | €4,505,991 | €6,115,923 | +€1.6m | +35.7% |
| Purchases | 600/8 | €4,505,991 | €6,115,923 | +€1.6m | +35.7% |
| Services and other goods | 61 | €5,782,651 | €6,362,471 | +€579,820 | +10.0% |
| Remuneration, social security and pensions | 62 | €6,643,597 | €6,966,733 | +€323,136 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €378,947 | €327,976 | -€50,971 | -13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,884 | €46,926 | +€41,043 | +697.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€234,907 | - | +€234,907 | |
| Other operating charges | 640/8 | €66,819 | €31,595 | -€35,224 | -52.7% |
| Non-recurring operating charges | 66A | €2,448,408 | €3,054,695 | +€606,287 | +24.8% |
| Operating profit (loss) | 9901 | -€2,947,068 | -€4,717,674 | -€1.8m | -60.1% |
| Financial income | 75/76B | €1,864,799 | €71,269,477 | +€69.4m | +3721.8% |
| Recurring financial income | 75 | €1,864,799 | €3,796,527 | +€1.9m | +103.6% |
| Income from financial fixed assets | 750 | €1,827,104 | €3,322,468 | +€1.5m | +81.8% |
| Other financial income | 752/9 | €37,696 | €474,059 | +€436,363 | +1157.6% |
| Non-recurring financial income | 76B | - | €67,472,949 | +€67.5m | |
| Financial charges | 65/66B | €2,175,032 | €20,717,390 | +€18.5m | +852.5% |
| Recurring financial charges | 65 | €2,175,032 | €2,055,645 | -€119,387 | -5.5% |
| Debt charges | 650 | €2,077,003 | €2,020,670 | -€56,332 | -2.7% |
| Other financial charges | 652/9 | €98,029 | €34,974 | -€63,054 | -64.3% |
| Non-recurring financial charges | 66B | - | €18,661,745 | +€18.7m | |
| Profit (loss) for the period before taxes | 9903 | -€3,257,300 | €45,834,412 | +€49.1m | |
| Income taxes | 67/77 | €8,829 | €8,800 | -€29 | -0.3% |
| Taxes | 670/3 | €8,876 | €8,800 | -€76 | -0.9% |
| Tax adjustments and reversals of tax provisions | 77 | €47 | - | -€47 | |
| Profit (loss) for the period | 9904 | -€3,266,129 | €45,825,612 | +€49.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,266,129 | €45,825,612 | +€49.1m |
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 29 September 2026 via checked.be.