EINAFETS: 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.
EINAFETS
Largest movements
- Tangible fixed assets -€10,534
down €10,534 (-24.3%), from €43,431 to €32,897
- Deferred charges and accrued income -€9,051
no longer reported in 2025 (was €9,051)
- Receivables within one year +€5,854
up €5,854 (+517.7%), from €1,131 to €6,985
of which Trade receivables: +€5,836
- Cash +€5,587
up €5,587 (+9.2%), from €60,902 to €66,490
mainly Net result for the year (+€17,110) and Depreciation (+€10,534)
- Reserves +€17,110
up €17,110 (+19.8%), from €86,312 to €103,422
- Tax, wage and social debts -€15,631
down €15,631 (-77.2%), from €20,247 to €4,616
- Debts after one year -€8,846
down €8,846 (-45.2%), from €19,566 to €10,720
- Gross operating margin -€11,576
down €11,576 (-25.6%), from €45,220 to €33,644
- Taxes -€2,634
down €2,634 (-34.6%), from €7,616 to €4,982
- Depreciation +€1,295
up €1,295 (+14.0%), from €9,239 to €10,534
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 | €136,850 | €129,007 | -€7,844 | -5.7% |
| Fixed assets | 21/28 | €43,431 | €32,897 | -€10,534 | -24.3% |
| Tangible fixed assets | 22/27 | €43,431 | €32,897 | -€10,534 | -24.3% |
| Furniture and vehicles | 24 | €43,431 | €32,897 | -€10,534 | -24.3% |
| Current assets | 29/58 | €93,419 | €96,110 | +€2,690 | +2.9% |
| Amounts receivable after more than one year | 29 | €22,336 | €22,635 | +€300 | +1.3% |
| Other amounts receivable | 291 | €22,336 | €22,635 | +€300 | +1.3% |
| Amounts receivable within one year | 40/41 | €1,131 | €6,985 | +€5,854 | +517.7% |
| Trade receivables | 40 | €1,131 | €6,967 | +€5,836 | +516.2% |
| Other amounts receivable | 41 | - | €18 | +€18 | |
| Cash at bank and in hand | 54/58 | €60,902 | €66,490 | +€5,587 | +9.2% |
| Deferred charges and accrued income | 490/1 | €9,051 | - | -€9,051 | |
| Total equity and liabilities | 10/49 | €136,850 | €129,007 | -€7,844 | -5.7% |
| Equity | 10/15 | €87,312 | €104,422 | +€17,110 | +19.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €86,312 | €103,422 | +€17,110 | +19.8% |
| Distributable reserves | 133 | €86,312 | €103,422 | +€17,110 | +19.8% |
| Amounts payable | 17/49 | €49,538 | €24,584 | -€24,954 | -50.4% |
| Amounts payable after more than one year | 17 | €19,566 | €10,720 | -€8,846 | -45.2% |
| Financial debts | 170/4 | €19,566 | €10,720 | -€8,846 | -45.2% |
| Amounts payable within one year | 42/48 | €29,038 | €13,865 | -€15,173 | -52.3% |
| Current portion of amounts payable after more than one year | 42 | €8,541 | €8,846 | +€305 | +3.6% |
| Trade debts | 44 | €249 | €402 | +€153 | +61.4% |
| Suppliers | 440/4 | €249 | €402 | +€153 | +61.4% |
| Taxes, remuneration and social security | 45 | €20,247 | €4,616 | -€15,631 | -77.2% |
| Taxes | 450/3 | €20,247 | €4,616 | -€15,631 | -77.2% |
| Accrued charges and deferred income | 492/3 | €935 | - | -€935 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,239 | €10,534 | +€1,295 | +14.0% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €45,220 | €33,644 | -€11,576 | -25.6% |
| Operating profit (loss) | 9901 | €35,919 | €23,048 | -€12,871 | -35.8% |
| Financial charges | 65/66B | €1,012 | €955 | -€56 | -5.6% |
| Recurring financial charges | 65 | €1,012 | €955 | -€56 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €34,907 | €22,092 | -€12,814 | -36.7% |
| Income taxes | 67/77 | €7,616 | €4,982 | -€2,634 | -34.6% |
| Profit (loss) for the period | 9904 | €27,291 | €17,110 | -€10,180 | -37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,291 | €17,110 | -€10,180 | -37.3% |
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 11 October 2026 via checked.be.