EFY: 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.
EFY
Largest movements
- Receivables within one year -€35,816
down €35,816 (-20.8%), from €172,111 to €136,295
of which Trade receivables: -€57,771
- Cash -€29,169
down €29,169 (-84.5%), from €34,539 to €5,370
mainly Contributions, distributions and other (-€79,003) and Trade debts (-€58,448)
- Tangible fixed assets -€27,598
down €27,598 (-75.0%), from €36,792 to €9,194
of which Furniture and vehicles: -€27,307
- Stocks and contracts -€10,855
down €10,855 (-18.8%), from €57,709 to €46,854
of which Contracts in progress: -€57,709
- Financial fixed assets +€5,565
up €5,565 (+2928.9%), from €190 to €5,755
- Reserves -€79,003
down €79,003 (-57.0%), from €138,563 to €59,560
- Other debts +€79,003
new in 2025: €79,003
- Trade debts -€58,448
down €58,448 (-38.2%), from €152,829 to €94,380
- Debts after one year -€29,963
no longer reported in 2025 (was €29,963)
- Profit (loss) carried forward +€14,914
up €14,914 (+30.9%), from -€48,294 to -€33,380
- Financial income +€58,743
up €58,743 (+1854.3%), from €3,168 to €61,911
of which Non-recurring financial income: +€57,706
- Gross operating margin -€55,703
down €55,703, from €42,545 to -€13,158
- Staff costs -€46,598
down €46,598 (-81.7%), from €57,050 to €10,452
- Depreciation -€22,794
down €22,794 (-70.8%), from €32,181 to €9,388
- Other operating charges +€5,008
up €5,008 (+312.3%), from €1,604 to €6,612
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 | €301,652 | €205,726 | -€95,926 | -31.8% |
| Fixed assets | 21/28 | €36,982 | €14,949 | -€22,033 | -59.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €36,792 | €9,194 | -€27,598 | -75.0% |
| Plant, machinery and equipment | 23 | €5,773 | €5,482 | -€292 | -5.1% |
| Furniture and vehicles | 24 | €31,019 | €3,712 | -€27,307 | -88.0% |
| Financial fixed assets | 28 | €190 | €5,755 | +€5,565 | +2928.9% |
| Current assets | 29/58 | €264,669 | €190,777 | -€73,893 | -27.9% |
| Stocks and contracts in progress | 3 | €57,709 | €46,854 | -€10,855 | -18.8% |
| Stocks | 30/36 | - | €46,854 | +€46,854 | |
| Contracts in progress | 37 | €57,709 | - | -€57,709 | |
| Amounts receivable within one year | 40/41 | €172,111 | €136,295 | -€35,816 | -20.8% |
| Trade receivables | 40 | €99,916 | €42,145 | -€57,771 | -57.8% |
| Other amounts receivable | 41 | €72,195 | €94,150 | +€21,955 | +30.4% |
| Cash at bank and in hand | 54/58 | €34,539 | €5,370 | -€29,169 | -84.5% |
| Deferred charges and accrued income | 490/1 | €310 | €2,257 | +€1,947 | +628.0% |
| Total equity and liabilities | 10/49 | €301,652 | €205,726 | -€95,926 | -31.8% |
| Equity | 10/15 | €92,768 | €28,680 | -€64,088 | -69.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €138,563 | €59,560 | -€79,003 | -57.0% |
| Distributable reserves | 133 | €138,563 | €59,560 | -€79,003 | -57.0% |
| Profit (loss) carried forward | 14 | -€48,294 | -€33,380 | +€14,914 | +30.9% |
| Amounts payable | 17/49 | €208,883 | €177,046 | -€31,838 | -15.2% |
| Amounts payable after more than one year | 17 | €29,963 | - | -€29,963 | |
| Financial debts | 170/4 | €29,963 | - | -€29,963 | |
| Amounts payable within one year | 42/48 | €178,533 | €176,933 | -€1,600 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €12,104 | - | -€12,104 | |
| Trade debts | 44 | €152,829 | €94,380 | -€58,448 | -38.2% |
| Suppliers | 440/4 | €152,829 | €94,380 | -€58,448 | -38.2% |
| Taxes, remuneration and social security | 45 | €13,600 | €3,550 | -€10,050 | -73.9% |
| Taxes | 450/3 | €12,527 | €3,550 | -€8,977 | -71.7% |
| Remuneration and social security | 454/9 | €1,073 | - | -€1,073 | |
| Other amounts payable | 47/48 | - | €79,003 | +€79,003 | |
| Accrued charges and deferred income | 492/3 | €387 | €113 | -€275 | -70.9% |
| Non-recurring operating income | 76A | €1,750 | - | -€1,750 | |
| Remuneration, social security and pensions | 62 | €57,050 | €10,452 | -€46,598 | -81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,181 | €9,388 | -€22,794 | -70.8% |
| Other operating charges | 640/8 | €1,604 | €6,612 | +€5,008 | +312.3% |
| Non-recurring operating charges | 66A | - | €2,837 | +€2,837 | |
| Gross operating margin | 9900 | €42,545 | -€13,158 | -€55,703 | |
| Operating profit (loss) | 9901 | -€48,290 | -€42,446 | +€5,844 | +12.1% |
| Financial income | 75/76B | €3,168 | €61,911 | +€58,743 | +1854.3% |
| Recurring financial income | 75 | €3,168 | €4,205 | +€1,038 | +32.7% |
| Non-recurring financial income | 76B | - | €57,706 | +€57,706 | |
| Financial charges | 65/66B | €3,167 | €4,396 | +€1,229 | +38.8% |
| Recurring financial charges | 65 | €3,167 | €4,396 | +€1,229 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | -€48,289 | €15,069 | +€63,358 | |
| Income taxes | 67/77 | €297 | €155 | -€142 | -47.9% |
| Profit (loss) for the period | 9904 | -€48,586 | €14,914 | +€63,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€48,586 | €14,914 | +€63,501 |
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 30 September 2026 via checked.be.