EIFERMAN: 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.
EIFERMAN
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€350,145
up €350,145 (+635.7%), from €55,076 to €405,221
mainly Current investments (+€400,000) and Net result for the year (+€354,230)
- Receivables within one year +€34,817
up €34,817 (+47.8%), from €72,900 to €107,717
of which Trade receivables: +€38,668
- Reserves -€195,770
down €195,770 (-22.6%), from €866,938 to €671,168
of which Distributable reserves: -€195,770
- Other debts +€194,777
new in 2025: €194,777
- Trade debts -€11,380
down €11,380 (-89.7%), from €12,692 to €1,311
- Financial income -€248,908
down €248,908 (-96.3%), from €258,576 to €9,668
of which Non-recurring financial income: -€247,800
- Taxes -€63,248
down €63,248 (-36.0%), from €175,641 to €112,393
- Gross operating margin -€13,912
down €13,912 (-2.9%), from €487,276 to €473,363
- Depreciation -€7,150
down €7,150 (-33.2%), from €21,520 to €14,370
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 | €929,097 | €911,021 | -€18,076 | -1.9% |
| Fixed assets | 21/28 | €399,232 | €396,078 | -€3,154 | -0.8% |
| Tangible fixed assets | 22/27 | €307,441 | €304,287 | -€3,154 | -1.0% |
| Land and buildings | 22 | €293,893 | €285,297 | -€8,597 | -2.9% |
| Furniture and vehicles | 24 | €13,547 | €18,990 | +€5,443 | +40.2% |
| Financial fixed assets | 28 | €91,791 | €91,791 | = | 0.0% |
| Current assets | 29/58 | €529,866 | €514,943 | -€14,923 | -2.8% |
| Amounts receivable within one year | 40/41 | €72,900 | €107,717 | +€34,817 | +47.8% |
| Trade receivables | 40 | €52,541 | €91,209 | +€38,668 | +73.6% |
| Other amounts receivable | 41 | €20,359 | €16,507 | -€3,851 | -18.9% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €55,076 | €405,221 | +€350,145 | +635.7% |
| Deferred charges and accrued income | 490/1 | €1,889 | €2,005 | +€115 | +6.1% |
| Total equity and liabilities | 10/49 | €929,097 | €911,021 | -€18,076 | -1.9% |
| Equity | 10/15 | €885,538 | €689,768 | -€195,770 | -22.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €866,938 | €671,168 | -€195,770 | -22.6% |
| Tax-exempt reserves | 132 | €11,236 | €11,236 | = | 0.0% |
| Distributable reserves | 133 | €855,702 | €659,932 | -€195,770 | -22.9% |
| Amounts payable | 17/49 | €43,560 | €221,253 | +€177,694 | +407.9% |
| Amounts payable within one year | 42/48 | €42,985 | €221,253 | +€178,269 | +414.7% |
| Financial debts | 43 | €1,305 | €3,282 | +€1,977 | +151.5% |
| Credit institutions | 430/8 | €1,305 | €3,282 | +€1,977 | +151.5% |
| Trade debts | 44 | €12,692 | €1,311 | -€11,380 | -89.7% |
| Suppliers | 440/4 | €12,692 | €1,311 | -€11,380 | -89.7% |
| Taxes, remuneration and social security | 45 | €28,988 | €21,883 | -€7,105 | -24.5% |
| Taxes | 450/3 | €24,902 | €21,883 | -€3,019 | -12.1% |
| Remuneration and social security | 454/9 | €4,086 | - | -€4,086 | |
| Other amounts payable | 47/48 | - | €194,777 | +€194,777 | |
| Accrued charges and deferred income | 492/3 | €575 | - | -€575 | |
| Non-recurring operating income | 76A | - | €53 | +€53 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,520 | €14,370 | -€7,150 | -33.2% |
| Other operating charges | 640/8 | €1,581 | €1,874 | +€293 | +18.5% |
| Gross operating margin | 9900 | €487,276 | €473,363 | -€13,912 | -2.9% |
| Operating profit (loss) | 9901 | €464,175 | €457,119 | -€7,055 | -1.5% |
| Financial income | 75/76B | €258,576 | €9,668 | -€248,908 | -96.3% |
| Recurring financial income | 75 | €10,776 | €9,668 | -€1,108 | -10.3% |
| Non-recurring financial income | 76B | €247,800 | - | -€247,800 | |
| Financial charges | 65/66B | €161 | €165 | +€4 | +2.4% |
| Recurring financial charges | 65 | €161 | €165 | +€4 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €722,590 | €466,623 | -€255,967 | -35.4% |
| Income taxes | 67/77 | €175,641 | €112,393 | -€63,248 | -36.0% |
| Profit (loss) for the period | 9904 | €546,949 | €354,230 | -€192,719 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €546,949 | €354,230 | -€192,719 | -35.2% |
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 29 September 2026 via checked.be.