EFIKAS: 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.
EFIKAS
Largest movements
- Current investments -€117,000
down €117,000 (-94.4%), from €124,000 to €7,000
- Cash +€94,275
up €94,275 (+2441.1%), from €3,862 to €98,137
mainly Accrued charges and deferred income (+€168,115) and Current investments (+€117,000)
- Tangible fixed assets -€56,073
down €56,073 (-12.8%), from €436,837 to €380,764
of which Land and buildings: -€32,530
- Receivables within one year -€15,130
down €15,130 (-12.1%), from €125,233 to €110,103
of which Other amounts receivable: -€17,716
- Accrued charges and deferred income +€168,115
up €168,115 (+98.4%), from €170,851 to €338,966
- Profit (loss) carried forward -€105,967
down €105,967 (-901.2%), from -€11,758 to -€117,725
- Debts after one year -€59,771
down €59,771 (-20.0%), from €299,195 to €239,424
- Trade debts -€43,029
down €43,029 (-59.5%), from €72,314 to €29,285
- Short-term financial debts -€40,270
no longer reported in 2025 (was €40,270)
- Gross operating margin -€41,633
down €41,633 (-18.7%), from €222,923 to €181,290
- Financial charges -€19,459
down €19,459 (-56.4%), from €34,495 to €15,036
of which Non-recurring financial charges: -€16,653
- Staff costs -€10,647
down €10,647 (-5.2%), from €204,173 to €193,526
- Depreciation -€3,785
down €3,785 (-4.9%), from €77,125 to €73,340
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 | €695,573 | €597,212 | -€98,361 | -14.1% |
| Fixed assets | 21/28 | €436,837 | €380,764 | -€56,073 | -12.8% |
| Tangible fixed assets | 22/27 | €436,837 | €380,764 | -€56,073 | -12.8% |
| Land and buildings | 22 | €239,777 | €207,247 | -€32,530 | -13.6% |
| Plant, machinery and equipment | 23 | €180,835 | €166,761 | -€14,074 | -7.8% |
| Furniture and vehicles | 24 | €16,225 | €6,756 | -€9,469 | -58.4% |
| Current assets | 29/58 | €258,736 | €216,448 | -€42,288 | -16.3% |
| Amounts receivable within one year | 40/41 | €125,233 | €110,103 | -€15,130 | -12.1% |
| Trade receivables | 40 | €86,039 | €88,625 | +€2,586 | +3.0% |
| Other amounts receivable | 41 | €39,194 | €21,478 | -€17,716 | -45.2% |
| Current investments | 50/53 | €124,000 | €7,000 | -€117,000 | -94.4% |
| Cash at bank and in hand | 54/58 | €3,862 | €98,137 | +€94,275 | +2441.1% |
| Deferred charges and accrued income | 490/1 | €5,641 | €1,208 | -€4,433 | -78.6% |
| Total equity and liabilities | 10/49 | €695,573 | €597,212 | -€98,361 | -14.1% |
| Equity | 10/15 | €6,842 | -€99,125 | -€105,967 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,758 | -€117,725 | -€105,967 | -901.2% |
| Amounts payable | 17/49 | €688,731 | €696,337 | +€7,606 | +1.1% |
| Amounts payable after more than one year | 17 | €299,195 | €239,424 | -€59,771 | -20.0% |
| Financial debts | 170/4 | €299,195 | €239,424 | -€59,771 | -20.0% |
| Amounts payable within one year | 42/48 | €218,685 | €117,947 | -€100,738 | -46.1% |
| Current portion of amounts payable after more than one year | 42 | €77,857 | €66,581 | -€11,276 | -14.5% |
| Financial debts | 43 | €40,270 | - | -€40,270 | |
| Credit institutions | 430/8 | €40,270 | - | -€40,270 | |
| Trade debts | 44 | €72,314 | €29,285 | -€43,029 | -59.5% |
| Suppliers | 440/4 | €72,314 | €29,285 | -€43,029 | -59.5% |
| Taxes, remuneration and social security | 45 | €28,244 | €22,081 | -€6,163 | -21.8% |
| Taxes | 450/3 | €5,054 | €5,054 | = | 0.0% |
| Remuneration and social security | 454/9 | €23,190 | €17,027 | -€6,163 | -26.6% |
| Accrued charges and deferred income | 492/3 | €170,851 | €338,966 | +€168,115 | +98.4% |
| Remuneration, social security and pensions | 62 | €204,173 | €193,526 | -€10,647 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,125 | €73,340 | -€3,785 | -4.9% |
| Other operating charges | 640/8 | €7,352 | €7,545 | +€193 | +2.6% |
| Gross operating margin | 9900 | €222,923 | €181,290 | -€41,633 | -18.7% |
| Operating profit (loss) | 9901 | -€65,727 | -€93,121 | -€27,394 | -41.7% |
| Financial income | 75/76B | €3,519 | €2,186 | -€1,333 | -37.9% |
| Recurring financial income | 75 | €3,519 | €2,186 | -€1,333 | -37.9% |
| Financial charges | 65/66B | €34,495 | €15,036 | -€19,459 | -56.4% |
| Recurring financial charges | 65 | €17,842 | €15,036 | -€2,806 | -15.7% |
| Non-recurring financial charges | 66B | €16,653 | - | -€16,653 | |
| Profit (loss) for the period before taxes | 9903 | -€96,703 | -€105,971 | -€9,268 | -9.6% |
| Income taxes | 67/77 | - | -€4 | -€4 | |
| Profit (loss) for the period | 9904 | -€96,703 | -€105,967 | -€9,264 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,703 | -€105,967 | -€9,264 | -9.6% |
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 28 September 2026 via checked.be.