EFRAX: 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.
EFRAX
Largest movements
- Financial fixed assets +€50,000
up €50,000 (+15.2%), from €327,905 to €377,905
- Receivables after one year -€30,000
down €30,000 (-60.0%), from €50,000 to €20,000
- Reserves +€45,359
up €45,359 (+15.5%), from €292,965 to €338,324
- Debts after one year -€17,671
down €17,671 (-15.0%), from €117,671 to €100,000
- Current portion of long-term debt -€5,888
down €5,888 (-25.0%), from €23,560 to €17,671
- Gross operating margin -€6,688
down €6,688 (-9.4%), from €71,110 to €64,423
- Taxes -€1,366
down €1,366 (-8.3%), from €16,535 to €15,170
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 | €556,526 | €577,651 | +€21,125 | +3.8% |
| Fixed assets | 21/28 | €328,469 | €377,905 | +€49,436 | +15.1% |
| Tangible fixed assets | 22/27 | €564 | - | -€564 | |
| Furniture and vehicles | 24 | €564 | - | -€564 | |
| Financial fixed assets | 28 | €327,905 | €377,905 | +€50,000 | +15.2% |
| Current assets | 29/58 | €228,057 | €199,746 | -€28,311 | -12.4% |
| Amounts receivable after more than one year | 29 | €50,000 | €20,000 | -€30,000 | -60.0% |
| Other amounts receivable | 291 | €50,000 | €20,000 | -€30,000 | -60.0% |
| Amounts receivable within one year | 40/41 | €38,061 | €36,891 | -€1,171 | -3.1% |
| Trade receivables | 40 | €4,646 | €3,485 | -€1,162 | -25.0% |
| Other amounts receivable | 41 | €33,415 | €33,406 | -€9 | 0.0% |
| Cash at bank and in hand | 54/58 | €139,996 | €141,984 | +€1,988 | +1.4% |
| Deferred charges and accrued income | 490/1 | - | €871 | +€871 | |
| Total equity and liabilities | 10/49 | €556,526 | €577,651 | +€21,125 | +3.8% |
| Equity | 10/15 | €392,965 | €438,324 | +€45,359 | +11.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €292,965 | €338,324 | +€45,359 | +15.5% |
| Distributable reserves | 133 | €292,965 | €338,324 | +€45,359 | +15.5% |
| Amounts payable | 17/49 | €163,561 | €139,327 | -€24,234 | -14.8% |
| Amounts payable after more than one year | 17 | €117,671 | €100,000 | -€17,671 | -15.0% |
| Financial debts | 170/4 | €117,671 | €100,000 | -€17,671 | -15.0% |
| Amounts payable within one year | 42/48 | €45,890 | €39,327 | -€6,563 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €23,560 | €17,671 | -€5,888 | -25.0% |
| Trade debts | 44 | €4,867 | €4,772 | -€95 | -1.9% |
| Suppliers | 440/4 | €4,867 | €4,772 | -€95 | -1.9% |
| Taxes, remuneration and social security | 45 | €1,457 | €831 | -€626 | -43.0% |
| Taxes | 450/3 | €1,457 | €831 | -€626 | -43.0% |
| Other amounts payable | 47/48 | €16,006 | €16,052 | +€46 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,053 | €564 | -€489 | -46.4% |
| Other operating charges | 640/8 | €782 | €585 | -€196 | -25.1% |
| Gross operating margin | 9900 | €71,110 | €64,423 | -€6,688 | -9.4% |
| Operating profit (loss) | 9901 | €69,276 | €63,273 | -€6,003 | -8.7% |
| Financial income | 75/76B | €1,351 | €1,696 | +€346 | +25.6% |
| Recurring financial income | 75 | €1,351 | €1,696 | +€346 | +25.6% |
| Financial charges | 65/66B | €4,735 | €4,441 | -€294 | -6.2% |
| Recurring financial charges | 65 | €4,735 | €4,441 | -€294 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €65,892 | €60,529 | -€5,363 | -8.1% |
| Income taxes | 67/77 | €16,535 | €15,170 | -€1,366 | -8.3% |
| Profit (loss) for the period | 9904 | €49,356 | €45,359 | -€3,997 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,356 | €45,359 | -€3,997 | -8.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.