EFFIGEST: 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.
EFFIGEST
Largest movements
- Cash +€57,799
up €57,799 (+45.8%), from €126,093 to €183,892
mainly Net result for the year (+€33,205) and Tax, wage and social debts (+€12,010)
- Tangible fixed assets -€9,040
down €9,040 (-45.0%), from €20,096 to €11,056
- Receivables within one year -€8,999
down €8,999 (-41.1%), from €21,906 to €12,907
of which Trade receivables: -€8,167
- Deferred charges and accrued income -€5,821
down €5,821 (-58.9%), from €9,882 to €4,061
- Reserves +€33,205
up €33,205 (+24.9%), from €133,544 to €166,749
of which Distributable reserves: +€33,205
- Tax, wage and social debts +€12,010
up €12,010 (+535.9%), from €2,241 to €14,251
of which Taxes: +€11,398
- Trade debts -€10,540
down €10,540 (-52.9%), from €19,907 to €9,367
- Write-downs -€4,127
no longer reported in 2025 (was €4,127)
- Gross operating margin -€1,446
down €1,446 (-2.4%), from €59,236 to €57,790
- Taxes +€786
up €786 (+5.1%), from €15,443 to €16,230
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 | €186,177 | €220,116 | +€33,939 | +18.2% |
| Fixed assets | 21/28 | €20,096 | €11,056 | -€9,040 | -45.0% |
| Tangible fixed assets | 22/27 | €20,096 | €11,056 | -€9,040 | -45.0% |
| Furniture and vehicles | 24 | €20,096 | €11,056 | -€9,040 | -45.0% |
| Current assets | 29/58 | €166,081 | €209,060 | +€42,979 | +25.9% |
| Amounts receivable within one year | 40/41 | €21,906 | €12,907 | -€8,999 | -41.1% |
| Trade receivables | 40 | €21,073 | €12,907 | -€8,167 | -38.8% |
| Other amounts receivable | 41 | €832 | - | -€832 | |
| Current investments | 50/53 | €8,200 | €8,200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €126,093 | €183,892 | +€57,799 | +45.8% |
| Deferred charges and accrued income | 490/1 | €9,882 | €4,061 | -€5,821 | -58.9% |
| Total equity and liabilities | 10/49 | €186,177 | €220,116 | +€33,939 | +18.2% |
| Equity | 10/15 | €163,170 | €195,542 | +€32,372 | +19.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €133,544 | €166,749 | +€33,205 | +24.9% |
| Non-distributable reserves | 130/1 | €8,200 | €8,200 | = | 0.0% |
| Own shares acquired | 1312 | €8,200 | €8,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,323 | €7,323 | = | 0.0% |
| Distributable reserves | 133 | €118,021 | €151,226 | +€33,205 | +28.1% |
| Profit (loss) carried forward | 14 | €11,076 | €10,243 | -€833 | -7.5% |
| Amounts payable | 17/49 | €23,007 | €24,575 | +€1,568 | +6.8% |
| Amounts payable within one year | 42/48 | €23,007 | €24,512 | +€1,505 | +6.5% |
| Trade debts | 44 | €19,907 | €9,367 | -€10,540 | -52.9% |
| Suppliers | 440/4 | €19,907 | €9,367 | -€10,540 | -52.9% |
| Taxes, remuneration and social security | 45 | €2,241 | €14,251 | +€12,010 | +535.9% |
| Taxes | 450/3 | €2,080 | €13,478 | +€11,398 | +548.1% |
| Remuneration and social security | 454/9 | €162 | €773 | +€612 | +378.7% |
| Other amounts payable | 47/48 | €859 | €894 | +€35 | +4.1% |
| Accrued charges and deferred income | 492/3 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,075 | €9,040 | -€35 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,127 | - | -€4,127 | |
| Other operating charges | 640/8 | €228 | €237 | +€9 | +4.1% |
| Gross operating margin | 9900 | €59,236 | €57,790 | -€1,446 | -2.4% |
| Operating profit (loss) | 9901 | €45,806 | €48,513 | +€2,707 | +5.9% |
| Financial income | 75/76B | €1,436 | €1,014 | -€422 | -29.4% |
| Recurring financial income | 75 | €1,436 | €1,014 | -€422 | -29.4% |
| Financial charges | 65/66B | €90 | €92 | +€2 | +2.4% |
| Recurring financial charges | 65 | €90 | €92 | +€2 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €47,151 | €49,434 | +€2,283 | +4.8% |
| Income taxes | 67/77 | €15,443 | €16,230 | +€786 | +5.1% |
| Profit (loss) for the period | 9904 | €31,708 | €33,205 | +€1,497 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,708 | €33,205 | +€1,497 | +4.7% |
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 3 October 2026 via checked.be.