EFICOM: 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.
EFICOM
Largest movements
- Tangible fixed assets -€405,263
down €405,263 (-7.9%), from €5.1m to €4.7m
of which Land and buildings: -€408,995
- Deferred charges and accrued income +€126,719
up €126,719 (+105.6%), from €120,007 to €246,726
- Stocks and contracts +€125,612
up €125,612 (+21.7%), from €577,907 to €703,519
- Cash -€60,172
down €60,172 (-68.5%), from €87,871 to €27,699
mainly Deferred charges and accrued income (-€126,719) and Stocks and contracts (-€125,612)
- Other debts -€122,758
down €122,758 (-2.8%), from €4.3m to €4.2m
- Gross operating margin +€121,362
up €121,362, from -€116,649 to €4,713
- Depreciation -€28,661
down €28,661 (-44.4%), from €64,480 to €35,819
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 | €5,929,115 | €5,755,859 | -€173,255 | -2.9% |
| Fixed assets | 21/28 | €5,109,257 | €4,703,994 | -€405,263 | -7.9% |
| Tangible fixed assets | 22/27 | €5,109,257 | €4,703,994 | -€405,263 | -7.9% |
| Land and buildings | 22 | €5,102,091 | €4,693,097 | -€408,995 | -8.0% |
| Plant, machinery and equipment | 23 | €7,166 | €10,898 | +€3,732 | +52.1% |
| Current assets | 29/58 | €819,857 | €1,051,865 | +€232,008 | +28.3% |
| Stocks and contracts in progress | 3 | €577,907 | €703,519 | +€125,612 | +21.7% |
| Stocks | 30/36 | €577,907 | €703,519 | +€125,612 | +21.7% |
| Amounts receivable within one year | 40/41 | €34,072 | €73,921 | +€39,849 | +117.0% |
| Trade receivables | 40 | €9,565 | €26,707 | +€17,142 | +179.2% |
| Other amounts receivable | 41 | €24,506 | €47,214 | +€22,707 | +92.7% |
| Cash at bank and in hand | 54/58 | €87,871 | €27,699 | -€60,172 | -68.5% |
| Deferred charges and accrued income | 490/1 | €120,007 | €246,726 | +€126,719 | +105.6% |
| Total equity and liabilities | 10/49 | €5,929,115 | €5,755,859 | -€173,255 | -2.9% |
| Equity | 10/15 | €1,614,374 | €1,565,859 | -€48,515 | -3.0% |
| Contributions | 10/11 | €1,985,000 | €1,985,000 | = | 0.0% |
| Capital | 10 | €1,985,000 | €1,985,000 | = | 0.0% |
| Issued capital | 100 | €1,985,000 | €1,985,000 | = | 0.0% |
| Reserves | 13 | €198,500 | €198,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €198,500 | €198,500 | = | 0.0% |
| Legal reserve | 130 | €198,500 | €198,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€569,126 | -€617,641 | -€48,515 | -8.5% |
| Amounts payable | 17/49 | €4,314,741 | €4,190,000 | -€124,741 | -2.9% |
| Amounts payable after more than one year | 17 | €1,000 | - | -€1,000 | |
| Financial debts | 170/4 | €1,000 | - | -€1,000 | |
| Amounts payable within one year | 42/48 | €4,313,741 | €4,190,000 | -€123,741 | -2.9% |
| Trade debts | 44 | €982 | - | -€982 | |
| Suppliers | 440/4 | €982 | - | -€982 | |
| Other amounts payable | 47/48 | €4,312,758 | €4,190,000 | -€122,758 | -2.8% |
| Non-recurring operating income | 76A | €1,799 | - | -€1,799 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,480 | €35,819 | -€28,661 | -44.4% |
| Other operating charges | 640/8 | €17,037 | €17,195 | +€158 | +0.9% |
| Gross operating margin | 9900 | -€116,649 | €4,713 | +€121,362 | |
| Operating profit (loss) | 9901 | -€198,166 | -€48,301 | +€149,865 | +75.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Non-recurring financial income | 76B | - | €1 | +€1 | |
| Financial charges | 65/66B | €86 | €215 | +€129 | +150.8% |
| Recurring financial charges | 65 | €86 | €215 | +€129 | +150.8% |
| Profit (loss) for the period before taxes | 9903 | -€198,251 | -€48,515 | +€149,737 | +75.5% |
| Profit (loss) for the period | 9904 | -€198,251 | -€48,515 | +€149,737 | +75.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€198,251 | -€48,515 | +€149,737 | +75.5% |
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 7 October 2026 via checked.be.