EFGE: 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
EFGE
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€8,112
2024 · €11,953-€20,066
Equity
€1.4m
2024 · €1.4m-€8,112
Cash
€138,966
2024 · €143,770-€4,804
Balance sheet total
€2.4m
2024 · €2.5m-€90,657
Largest movements
Assets
- Tangible fixed assets -€85,853
down €85,853 (-3.7%), from €2.3m to €2.3m
of which Land and buildings: -€85,320
Equity and liabilities
- Other debts -€84,550
down €84,550 (-9.0%), from €934,702 to €850,152
Income statement
- Gross operating margin -€17,374
down €17,374 (-13.9%), from €125,174 to €107,800
- Financial charges +€1,604
up €1,604 (+6.6%), from €24,453 to €26,057
- Taxes +€1,344
new in 2025: €1,344
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
€11,953
Gross operating margin
-€17,374
Depreciation
-€30
Other operating charges
-€39
Financial income
+€326
Financial charges
-€1,604
Taxes
-€1,344
Result 2025
-€8,112
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
-€2,526
Investment
-€5,778
Financing
+€3,500
Cash 2024
€143,770
From operations (derived)
-€2,526
Net result for the year
-€8,112
Depreciation
+€91,631
Provisions
-€3,876
Trade debts
-€388
Tax, wage and social debts
+€1,146
Other debts
-€84,550
Accrued charges and deferred income
+€1,623
Investment (derived)
-€5,778
Investment in fixed assets (net)
-€5,778
Financing
+€3,500
Debts after one year
+€3,500
Cash 2025
€138,966
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,484,636 | €2,393,979 | -€90,657 | -3.6% |
| Fixed assets | 21/28 | €2,340,781 | €2,254,928 | -€85,853 | -3.7% |
| Tangible fixed assets | 22/27 | €2,340,781 | €2,254,928 | -€85,853 | -3.7% |
| Land and buildings | 22 | €2,339,501 | €2,254,181 | -€85,320 | -3.6% |
| Plant, machinery and equipment | 23 | €1,280 | €747 | -€533 | -41.6% |
| Current assets | 29/58 | €143,855 | €139,051 | -€4,804 | -3.3% |
| Amounts receivable within one year | 40/41 | €84 | €84 | = | 0.0% |
| Other amounts receivable | 41 | €84 | €84 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €143,770 | €138,966 | -€4,804 | -3.3% |
| Total equity and liabilities | 10/49 | €2,484,636 | €2,393,979 | -€90,657 | -3.6% |
| Equity | 10/15 | €1,443,105 | €1,434,993 | -€8,112 | -0.6% |
| Contributions | 10/11 | €1,215,000 | €1,215,000 | = | 0.0% |
| Reserves | 13 | €215,824 | €204,196 | -€11,628 | -5.4% |
| Tax-exempt reserves | 132 | €215,824 | €204,196 | -€11,628 | -5.4% |
| Profit (loss) carried forward | 14 | €12,281 | €15,797 | +€3,516 | +28.6% |
| Provisions and deferred taxes | 16 | €71,941 | €68,066 | -€3,876 | -5.4% |
| Deferred taxes | 168 | €71,941 | €68,066 | -€3,876 | -5.4% |
| Amounts payable | 17/49 | €969,589 | €890,920 | -€78,669 | -8.1% |
| Amounts payable after more than one year | 17 | €10,000 | €13,500 | +€3,500 | +35.0% |
| Other amounts payable | 178/9 | €10,000 | €13,500 | +€3,500 | +35.0% |
| Amounts payable within one year | 42/48 | €935,247 | €851,454 | -€83,792 | -9.0% |
| Trade debts | 44 | €545 | €157 | -€388 | -71.3% |
| Suppliers | 440/4 | €545 | €157 | -€388 | -71.3% |
| Taxes, remuneration and social security | 45 | - | €1,146 | +€1,146 | |
| Taxes | 450/3 | - | €1,146 | +€1,146 | |
| Other amounts payable | 47/48 | €934,702 | €850,152 | -€84,550 | -9.0% |
| Accrued charges and deferred income | 492/3 | €24,343 | €25,966 | +€1,623 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,601 | €91,631 | +€30 | 0.0% |
| Other operating charges | 640/8 | €1,383 | €1,421 | +€39 | +2.8% |
| Gross operating margin | 9900 | €125,174 | €107,800 | -€17,374 | -13.9% |
| Operating profit (loss) | 9901 | €32,190 | €14,747 | -€17,443 | -54.2% |
| Financial income | 75/76B | €340 | €666 | +€326 | +95.8% |
| Recurring financial income | 75 | €340 | €666 | +€326 | +95.8% |
| Financial charges | 65/66B | €24,453 | €26,057 | +€1,604 | +6.6% |
| Recurring financial charges | 65 | €24,453 | €26,057 | +€1,604 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €8,077 | -€10,644 | -€18,721 | |
| Transfer from deferred taxes | 780 | €3,876 | €3,876 | = | 0.0% |
| Income taxes | 67/77 | - | €1,344 | +€1,344 | |
| Profit (loss) for the period | 9904 | €11,953 | -€8,112 | -€20,066 | |
| Transfer from tax-exempt reserves | 789 | €11,628 | €11,628 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,581 | €3,516 | -€20,066 | -85.1% |
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.