EFV: 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.
EFV
Largest movements
- Receivables within one year -€28,325
down €28,325 (-54.6%), from €51,858 to €23,533
of which Trade receivables: -€30,900
- Cash +€13,354
up €13,354 (+90.6%), from €14,737 to €28,091
mainly Receivables within one year (+€28,325) and Depreciation (+€2,479)
- Tangible fixed assets -€1,222
down €1,222 (-32.5%), from €3,765 to €2,543
- Tax, wage and social debts -€12,333
down €12,333 (-83.1%), from €14,837 to €2,504
- Profit (loss) carried forward -€2,117
new in 2025: -€2,117
- Trade debts -€1,523
down €1,523 (-37.6%), from €4,051 to €2,528
- Gross operating margin -€67,533
down €67,533 (-97.1%), from €69,566 to €2,034
- Taxes -€12,933
down €12,933 (-99.2%), from €13,037 to €104
- Financial charges -€1,499
down €1,499 (-34.8%), from €4,311 to €2,812
- Financial income +€717
up €717 (+58.6%), from €1,223 to €1,940
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 | €72,709 | €56,736 | -€15,973 | -22.0% |
| Fixed assets | 21/28 | €3,765 | €2,543 | -€1,222 | -32.5% |
| Tangible fixed assets | 22/27 | €3,765 | €2,543 | -€1,222 | -32.5% |
| Plant, machinery and equipment | 23 | €3,765 | €2,543 | -€1,222 | -32.5% |
| Current assets | 29/58 | €68,944 | €54,193 | -€14,751 | -21.4% |
| Amounts receivable within one year | 40/41 | €51,858 | €23,533 | -€28,325 | -54.6% |
| Trade receivables | 40 | €31,455 | €555 | -€30,900 | -98.2% |
| Other amounts receivable | 41 | €20,403 | €22,978 | +€2,575 | +12.6% |
| Cash at bank and in hand | 54/58 | €14,737 | €28,091 | +€13,354 | +90.6% |
| Deferred charges and accrued income | 490/1 | €2,349 | €2,569 | +€221 | +9.4% |
| Total equity and liabilities | 10/49 | €72,709 | €56,736 | -€15,973 | -22.0% |
| Equity | 10/15 | €53,821 | €51,704 | -€2,117 | -3.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €49,821 | €49,821 | = | 0.0% |
| Distributable reserves | 133 | €49,821 | €49,821 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,117 | -€2,117 | |
| Amounts payable | 17/49 | €18,888 | €5,032 | -€13,856 | -73.4% |
| Amounts payable within one year | 42/48 | €18,888 | €5,032 | -€13,856 | -73.4% |
| Trade debts | 44 | €4,051 | €2,528 | -€1,523 | -37.6% |
| Suppliers | 440/4 | €4,051 | €2,528 | -€1,523 | -37.6% |
| Taxes, remuneration and social security | 45 | €14,837 | €2,504 | -€12,333 | -83.1% |
| Taxes | 450/3 | €14,837 | €2,504 | -€12,333 | -83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,794 | €2,479 | -€315 | -11.3% |
| Other operating charges | 640/8 | €827 | €696 | -€131 | -15.9% |
| Gross operating margin | 9900 | €69,566 | €2,034 | -€67,533 | -97.1% |
| Operating profit (loss) | 9901 | €65,946 | -€1,141 | -€67,087 | |
| Financial income | 75/76B | €1,223 | €1,940 | +€717 | +58.6% |
| Recurring financial income | 75 | €1,223 | €1,940 | +€717 | +58.6% |
| Financial charges | 65/66B | €4,311 | €2,812 | -€1,499 | -34.8% |
| Recurring financial charges | 65 | €4,311 | €2,812 | -€1,499 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €62,858 | -€2,013 | -€64,871 | |
| Income taxes | 67/77 | €13,037 | €104 | -€12,933 | -99.2% |
| Profit (loss) for the period | 9904 | €49,821 | -€2,117 | -€51,937 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,821 | -€2,117 | -€51,937 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.