EFFORTEL GROUP: 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.
EFFORTEL GROUP
Largest movements
- Current investments +€6.3m
up €6.3m (+674%), from €930,000 to €7.2m
- Receivables after one year -€750,000
down €750,000 (-50.0%), from €1.5m to €750,000
- Financial fixed assets +€236,492
up €236,492 (+7.2%), from €3.3m to €3.5m
- Cash -€230,600
down €230,600 (-81.9%), from €281,444 to €50,845
mainly Contributions, distributions and other (-€9.5m) and Current investments (-€6.3m)
- Debts after one year +€5.0m
up €5.0m (+119%), from €4.2m to €9.2m
- Other debts +€1.2m
up €1.2m (+122,262,500%), from €1 to €1.2m
- Reserves -€768,000
down €768,000 (-75.1%), from €1.0m to €254,000
of which Distributable reserves: -€768,000
- Financial income +€1.9m
up €1.9m (+27.9%), from €6.9m to €8.8m
- Financial charges -€78,533
down €78,533 (-44.2%), from €177,747 to €99,214
of which Non-recurring financial charges: -€125,000
- Taxes +€30,029
up €30,029, from -€21,568 to €8,461
- Turnover +€30,000
new in 2025: €30,000
- Gross operating margin +€27,741
no longer reported in 2025 (was -€27,741)
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 | €6,859,893 | €12,378,968 | +€5.5m | +80.5% |
| Fixed assets | 21/28 | €3,277,190 | €3,513,682 | +€236,492 | +7.2% |
| Financial fixed assets | 28 | €3,277,190 | €3,513,682 | +€236,492 | +7.2% |
| Affiliated companies | 280/1 | - | €3,513,682 | +€3.5m | |
| Participating interests | 280 | - | €1,788,682 | +€1.8m | |
| Amounts receivable | 281 | - | €1,725,000 | +€1.7m | |
| Current assets | 29/58 | €3,582,703 | €8,865,286 | +€5.3m | +147% |
| Amounts receivable after more than one year | 29 | €1,500,000 | €750,000 | -€750,000 | -50.0% |
| Other amounts receivable | 291 | €1,500,000 | €750,000 | -€750,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €802,407 | €775,448 | -€26,959 | -3.4% |
| Trade receivables | 40 | €16,575 | €7,500 | -€9,075 | -54.8% |
| Other amounts receivable | 41 | €785,832 | €767,948 | -€17,884 | -2.3% |
| Current investments | 50/53 | €930,000 | €7,202,158 | +€6.3m | +674% |
| Other investments | 51/53 | - | €7,202,158 | +€7.2m | |
| Cash at bank and in hand | 54/58 | €281,444 | €50,845 | -€230,600 | -81.9% |
| Deferred charges and accrued income | 490/1 | €68,852 | €86,835 | +€17,983 | +26.1% |
| Total equity and liabilities | 10/49 | €6,859,893 | €12,378,968 | +€5.5m | +80.5% |
| Equity | 10/15 | €2,522,801 | €1,754,852 | -€767,949 | -30.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €1,022,000 | €254,000 | -€768,000 | -75.1% |
| Non-distributable reserves | 130/1 | €150,000 | €150,000 | = | 0.0% |
| Legal reserve | 130 | €150,000 | €150,000 | = | 0.0% |
| Distributable reserves | 133 | €872,000 | €104,000 | -€768,000 | -88.1% |
| Profit (loss) carried forward | 14 | €801 | €852 | +€51 | +6.4% |
| Amounts payable | 17/49 | €4,337,092 | €10,624,116 | +€6.3m | +145% |
| Amounts payable after more than one year | 17 | €4,200,000 | €9,200,000 | +€5.0m | +119% |
| Financial debts | 170/4 | €4,200,000 | €9,200,000 | +€5.0m | +119% |
| Other loans | 174 | - | €9,200,000 | +€9.2m | |
| Amounts payable within one year | 42/48 | €29,846 | €1,233,119 | +€1.2m | +4,032% |
| Trade debts | 44 | €29,845 | €600 | -€29,245 | -98.0% |
| Suppliers | 440/4 | €29,845 | €600 | -€29,245 | -98.0% |
| Taxes, remuneration and social security | 45 | - | €9,893 | +€9,893 | |
| Taxes | 450/3 | - | €9,893 | +€9,893 | |
| Other amounts payable | 47/48 | €1 | €1,222,626 | +€1.2m | +122,262,500% |
| Accrued charges and deferred income | 492/3 | €107,247 | €190,997 | +€83,750 | +78.1% |
| Operating income | 70/76A | - | €30,000 | +€30,000 | |
| Turnover | 70 | - | €30,000 | +€30,000 | |
| Operating charges | 60/66A | - | €36,807 | +€36,807 | |
| Services and other goods | 61 | - | €5,845 | +€5,845 | |
| Other operating charges | 640/8 | €29,950 | €30,962 | +€1,012 | +3.4% |
| Gross operating margin | 9900 | -€27,741 | - | +€27,741 | |
| Operating profit (loss) | 9901 | -€57,691 | -€6,807 | +€50,885 | +88.2% |
| Financial income | 75/76B | €6,918,787 | €8,846,533 | +€1.9m | +27.9% |
| Recurring financial income | 75 | €6,918,787 | €8,846,533 | +€1.9m | +27.9% |
| Income from financial fixed assets | 750 | - | €8,618,918 | +€8.6m | |
| Income from current assets | 751 | - | €224,651 | +€224,651 | |
| Other financial income | 752/9 | - | €2,964 | +€2,964 | |
| Financial charges | 65/66B | €177,747 | €99,214 | -€78,533 | -44.2% |
| Recurring financial charges | 65 | €52,747 | €99,214 | +€46,467 | +88.1% |
| Debt charges | 650 | - | €83,750 | +€83,750 | |
| Other financial charges | 652/9 | - | €15,463 | +€15,463 | |
| Non-recurring financial charges | 66B | €125,000 | - | -€125,000 | |
| Profit (loss) for the period before taxes | 9903 | €6,683,349 | €8,740,513 | +€2.1m | +30.8% |
| Income taxes | 67/77 | -€21,568 | €8,461 | +€30,029 | |
| Taxes | 670/3 | - | €8,461 | +€8,461 | |
| Profit (loss) for the period | 9904 | €6,704,917 | €8,732,051 | +€2.0m | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,704,917 | €8,732,051 | +€2.0m | +30.2% |
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 29 October 2026 via checked.be.