EFP: 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.
EFP
Largest movements
- Receivables within one year +€19,648
up €19,648 (+5.1%), from €387,457 to €407,105
of which Other amounts receivable: +€15,317
- Tangible fixed assets -€15,842
down €15,842 (-55.4%), from €28,610 to €12,768
of which Leasing and similar rights: -€13,197
- Profit (loss) carried forward +€25,229
up €25,229 (+9.5%), from €265,543 to €290,772
- Debts after one year -€10,498
down €10,498 (-61.5%), from €17,063 to €6,565
- Trade debts -€5,459
down €5,459 (-8.9%), from €61,096 to €55,637
- Short-term financial debts -€5,282
down €5,282 (-23.0%), from €22,963 to €17,681
- Staff costs -€24,738
down €24,738 (-35.8%), from €69,142 to €44,404
- Gross operating margin +€17,221
up €17,221 (+24.8%), from €69,438 to €86,659
- Taxes +€10,017
up €10,017 (+2397.4%), from €418 to €10,435
- Depreciation -€3,911
down €3,911 (-19.8%), from €19,753 to €15,842
- Write-downs +€2,740
new in 2025: €2,740
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 | €419,315 | €422,666 | +€3,352 | +0.8% |
| Fixed assets | 21/28 | €28,610 | €12,768 | -€15,842 | -55.4% |
| Tangible fixed assets | 22/27 | €28,610 | €12,768 | -€15,842 | -55.4% |
| Plant, machinery and equipment | 23 | €4,688 | €2,874 | -€1,814 | -38.7% |
| Furniture and vehicles | 24 | €2,616 | €1,785 | -€831 | -31.8% |
| Leasing and similar rights | 25 | €21,306 | €8,108 | -€13,197 | -61.9% |
| Current assets | 29/58 | €390,705 | €409,898 | +€19,194 | +4.9% |
| Amounts receivable within one year | 40/41 | €387,457 | €407,105 | +€19,648 | +5.1% |
| Trade receivables | 40 | €34,723 | €39,054 | +€4,331 | +12.5% |
| Other amounts receivable | 41 | €352,734 | €368,051 | +€15,317 | +4.3% |
| Cash at bank and in hand | 54/58 | €6 | €6 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €3,242 | €2,787 | -€454 | -14.0% |
| Total equity and liabilities | 10/49 | €419,315 | €422,666 | +€3,352 | +0.8% |
| Equity | 10/15 | €286,003 | €311,232 | +€25,229 | +8.8% |
| 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 | €265,543 | €290,772 | +€25,229 | +9.5% |
| Amounts payable | 17/49 | €133,312 | €111,434 | -€21,878 | -16.4% |
| Amounts payable after more than one year | 17 | €17,063 | €6,565 | -€10,498 | -61.5% |
| Financial debts | 170/4 | €17,063 | €6,565 | -€10,498 | -61.5% |
| Amounts payable within one year | 42/48 | €116,000 | €104,845 | -€11,155 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €9,612 | €10,498 | +€886 | +9.2% |
| Financial debts | 43 | €22,963 | €17,681 | -€5,282 | -23.0% |
| Credit institutions | 430/8 | €22,963 | €17,681 | -€5,282 | -23.0% |
| Trade debts | 44 | €61,096 | €55,637 | -€5,459 | -8.9% |
| Suppliers | 440/4 | €61,096 | €55,637 | -€5,459 | -8.9% |
| Taxes, remuneration and social security | 45 | €22,329 | €21,028 | -€1,300 | -5.8% |
| Taxes | 450/3 | €8,594 | €10,608 | +€2,014 | +23.4% |
| Remuneration and social security | 454/9 | €13,734 | €10,420 | -€3,314 | -24.1% |
| Accrued charges and deferred income | 492/3 | €249 | €25 | -€224 | -90.1% |
| Remuneration, social security and pensions | 62 | €69,142 | €44,404 | -€24,738 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,753 | €15,842 | -€3,911 | -19.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,740 | +€2,740 | |
| Other operating charges | 640/8 | €3,537 | €3,345 | -€192 | -5.4% |
| Gross operating margin | 9900 | €69,438 | €86,659 | +€17,221 | +24.8% |
| Operating profit (loss) | 9901 | -€22,993 | €20,329 | +€43,322 | |
| Financial income | 75/76B | €20,475 | €19,708 | -€767 | -3.7% |
| Recurring financial income | 75 | €20,475 | €19,708 | -€767 | -3.7% |
| Financial charges | 65/66B | €5,883 | €4,372 | -€1,511 | -25.7% |
| Recurring financial charges | 65 | €5,883 | €4,372 | -€1,511 | -25.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,402 | €35,664 | +€44,066 | |
| Income taxes | 67/77 | €418 | €10,435 | +€10,017 | +2397.4% |
| Profit (loss) for the period | 9904 | -€8,820 | €25,229 | +€34,049 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,820 | €25,229 | +€34,049 |
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 10 October 2026 via checked.be.