EFSS: 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.
EFSS
Largest movements
- Receivables within one year +€8,226
up €8,226 (+53.0%), from €15,509 to €23,736
- Tangible fixed assets +€1,327
up €1,327 (+2.5%), from €54,043 to €55,370
of which Plant, machinery and equipment: +€11,320
- Cash -€1,031
down €1,031 (-68.8%), from €1,498 to €467
mainly Investment in fixed assets (net) (-€18,244) and Receivables within one year (-€8,226)
- Other debts +€5,137
up €5,137 (+11.5%), from €44,829 to €49,967
- Trade debts +€4,083
up €4,083 (+75.0%), from €5,444 to €9,527
- Reserves -€2,615
down €2,615 (-34.9%), from €7,487 to €4,871
- Tax, wage and social debts +€1,745
up €1,745 (+62.9%), from €2,775 to €4,520
- Debts after one year +€1,319
up €1,319 (+148%), from €889 to €2,208
- Gross operating margin -€9,556
down €9,556 (-37.6%), from €25,433 to €15,877
- Depreciation +€2,344
up €2,344 (+16.1%), from €14,573 to €16,917
- Taxes -€1,978
down €1,978 (-69.3%), from €2,853 to €875
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 | €71,050 | €80,148 | +€9,097 | +12.8% |
| Fixed assets | 21/28 | €54,043 | €55,370 | +€1,327 | +2.5% |
| Tangible fixed assets | 22/27 | €54,043 | €55,370 | +€1,327 | +2.5% |
| Plant, machinery and equipment | 23 | €16,297 | €27,617 | +€11,320 | +69.5% |
| Furniture and vehicles | 24 | €37,746 | €27,754 | -€9,993 | -26.5% |
| Current assets | 29/58 | €17,007 | €24,777 | +€7,770 | +45.7% |
| Amounts receivable within one year | 40/41 | €15,509 | €23,736 | +€8,226 | +53.0% |
| Trade receivables | 40 | €15,509 | €23,736 | +€8,226 | +53.0% |
| Cash at bank and in hand | 54/58 | €1,498 | €467 | -€1,031 | -68.8% |
| Deferred charges and accrued income | 490/1 | - | €575 | +€575 | |
| Total equity and liabilities | 10/49 | €71,050 | €80,148 | +€9,097 | +12.8% |
| Equity | 10/15 | €10,487 | €7,871 | -€2,615 | -24.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €7,487 | €4,871 | -€2,615 | -34.9% |
| Distributable reserves | 133 | €7,487 | €4,871 | -€2,615 | -34.9% |
| Amounts payable | 17/49 | €60,564 | €72,276 | +€11,712 | +19.3% |
| Amounts payable after more than one year | 17 | €889 | €2,208 | +€1,319 | +148% |
| Financial debts | 170/4 | €889 | €2,208 | +€1,319 | +148% |
| Amounts payable within one year | 42/48 | €59,675 | €70,068 | +€10,393 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €6,626 | €6,054 | -€572 | -8.6% |
| Trade debts | 44 | €5,444 | €9,527 | +€4,083 | +75.0% |
| Suppliers | 440/4 | €5,444 | €9,527 | +€4,083 | +75.0% |
| Taxes, remuneration and social security | 45 | €2,775 | €4,520 | +€1,745 | +62.9% |
| Taxes | 450/3 | €2,775 | €4,520 | +€1,745 | +62.9% |
| Other amounts payable | 47/48 | €44,829 | €49,967 | +€5,137 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,573 | €16,917 | +€2,344 | +16.1% |
| Gross operating margin | 9900 | €25,433 | €15,877 | -€9,556 | -37.6% |
| Operating profit (loss) | 9901 | €10,860 | -€1,040 | -€11,900 | |
| Financial income | 75/76B | €26 | €57 | +€32 | +124% |
| Recurring financial income | 75 | €26 | €57 | +€32 | +124% |
| Financial charges | 65/66B | €546 | €757 | +€212 | +38.8% |
| Recurring financial charges | 65 | €546 | €757 | +€212 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | €10,340 | -€1,740 | -€12,080 | |
| Income taxes | 67/77 | €2,853 | €875 | -€1,978 | -69.3% |
| Profit (loss) for the period | 9904 | €7,487 | -€2,615 | -€10,102 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,487 | -€2,615 | -€10,102 |
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 15 October 2026 via checked.be.