EFFIGIA: 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.
EFFIGIA
Largest movements
- Cash -€864,336
down €864,336 (-63.8%), from €1.4m to €490,834
mainly Contributions, distributions and other (-€701,291) and Current investments (-€650,000)
- Current investments +€650,000
new in 2025: €650,000
- Receivables within one year +€200,924
up €200,924 (+137.6%), from €145,970 to €346,895
of which Trade receivables: +€179,682
- Tangible fixed assets -€54,176
down €54,176 (-17.2%), from €315,066 to €260,890
of which Land and buildings: -€36,011
- Other debts +€500,075
up €500,075 (+248.4%), from €201,322 to €701,397
- Profit (loss) carried forward -€415,609
down €415,609 (-49.2%), from €845,226 to €429,617
- Debts after one year -€122,804
down €122,804 (-27.6%), from €444,614 to €321,810
- Trade debts -€23,415
down €23,415 (-30.2%), from €77,548 to €54,132
- Gross operating margin -€661,882
down €661,882 (-44.9%), from €1.5m to €811,292
- Staff costs +€86,185
up €86,185 (+24.4%), from €353,377 to €439,562
- Taxes -€46,025
down €46,025 (-81.5%), from €56,439 to €10,414
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 | €1,859,016 | €1,797,511 | -€61,505 | -3.3% |
| Fixed assets | 21/28 | €317,040 | €261,614 | -€55,426 | -17.5% |
| Intangible fixed assets | 21 | €1,974 | €724 | -€1,250 | -63.3% |
| Tangible fixed assets | 22/27 | €315,066 | €260,890 | -€54,176 | -17.2% |
| Land and buildings | 22 | €233,746 | €197,735 | -€36,011 | -15.4% |
| Plant, machinery and equipment | 23 | €13,055 | €14,962 | +€1,906 | +14.6% |
| Furniture and vehicles | 24 | €68,265 | €48,194 | -€20,072 | -29.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,541,975 | €1,535,896 | -€6,079 | -0.4% |
| Stocks and contracts in progress | 3 | €37,581 | €45,877 | +€8,296 | +22.1% |
| Stocks | 30/36 | €37,581 | €45,877 | +€8,296 | +22.1% |
| Amounts receivable within one year | 40/41 | €145,970 | €346,895 | +€200,924 | +137.6% |
| Trade receivables | 40 | €145,970 | €325,653 | +€179,682 | +123.1% |
| Other amounts receivable | 41 | €0 | €21,242 | +€21,242 | |
| Current investments | 50/53 | - | €650,000 | +€650,000 | |
| Cash at bank and in hand | 54/58 | €1,355,169 | €490,834 | -€864,336 | -63.8% |
| Deferred charges and accrued income | 490/1 | €3,254 | €2,291 | -€964 | -29.6% |
| Total equity and liabilities | 10/49 | €1,859,016 | €1,797,511 | -€61,505 | -3.3% |
| Equity | 10/15 | €882,594 | €465,694 | -€416,900 | -47.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €845,226 | €429,617 | -€415,609 | -49.2% |
| Investment grants | 15 | €16,908 | €15,617 | -€1,291 | -7.6% |
| Amounts payable | 17/49 | €976,421 | €1,331,817 | +€355,395 | +36.4% |
| Amounts payable after more than one year | 17 | €444,614 | €321,810 | -€122,804 | -27.6% |
| Financial debts | 170/4 | €444,614 | €321,810 | -€122,804 | -27.6% |
| Amounts payable within one year | 42/48 | €531,807 | €1,010,006 | +€478,199 | +89.9% |
| Current portion of amounts payable after more than one year | 42 | €131,702 | €122,804 | -€8,898 | -6.8% |
| Trade debts | 44 | €77,548 | €54,132 | -€23,415 | -30.2% |
| Suppliers | 440/4 | €77,548 | €54,132 | -€23,415 | -30.2% |
| Taxes, remuneration and social security | 45 | €121,237 | €131,674 | +€10,437 | +8.6% |
| Taxes | 450/3 | €57,163 | €32,180 | -€24,983 | -43.7% |
| Remuneration and social security | 454/9 | €64,074 | €99,494 | +€35,420 | +55.3% |
| Other amounts payable | 47/48 | €201,322 | €701,397 | +€500,075 | +248.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €710,000 | €1,000 | -€709,000 | -99.9% |
| Remuneration, social security and pensions | 62 | €353,377 | €439,562 | +€86,185 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,335 | €64,214 | -€3,121 | -4.6% |
| Other operating charges | 640/8 | €21,690 | €10,524 | -€11,165 | -51.5% |
| Gross operating margin | 9900 | €1,473,174 | €811,292 | -€661,882 | -44.9% |
| Operating profit (loss) | 9901 | €1,030,772 | €296,991 | -€733,781 | -71.2% |
| Financial income | 75/76B | €4,200 | €2,972 | -€1,227 | -29.2% |
| Recurring financial income | 75 | €4,200 | €2,972 | -€1,227 | -29.2% |
| Financial charges | 65/66B | €8,509 | €5,159 | -€3,350 | -39.4% |
| Recurring financial charges | 65 | €8,509 | €5,159 | -€3,350 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €1,026,463 | €294,805 | -€731,658 | -71.3% |
| Income taxes | 67/77 | €56,439 | €10,414 | -€46,025 | -81.5% |
| Profit (loss) for the period | 9904 | €970,024 | €284,391 | -€685,633 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €970,024 | €284,391 | -€685,633 | -70.7% |
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 5 October 2026 via checked.be.