Ephpheta: 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.
Ephpheta
Largest movements
- Tangible fixed assets -€37,708
down €37,708 (-3.9%), from €970,248 to €932,540
- Cash +€34,298
up €34,298 (+60.9%), from €56,360 to €90,658
mainly Depreciation (+€51,628) and Net result for the year (+€32,322)
- Reserves +€32,000
up €32,000 (+12.2%), from €262,234 to €294,234
- Debts after one year -€32,000
down €32,000 (-12.2%), from €262,363 to €230,363
- Current portion of long-term debt -€16,002
down €16,002 (-33.3%), from €48,002 to €32,000
- Financial charges +€5,163
up €5,163 (+39.7%), from €13,009 to €18,173
- Financial income -€3,995
no longer reported in 2025 (was €3,995)
- Taxes -€3,637
down €3,637 (-17.6%), from €20,610 to €16,973
- Gross operating margin -€2,247
down €2,247 (-1.8%), from €126,164 to €123,917
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 | €1,051,664 | €1,048,003 | -€3,661 | -0.3% |
| Fixed assets | 21/28 | €970,248 | €932,540 | -€37,708 | -3.9% |
| Tangible fixed assets | 22/27 | €970,248 | €932,540 | -€37,708 | -3.9% |
| Land and buildings | 22 | €925,721 | €907,504 | -€18,217 | -2.0% |
| Furniture and vehicles | 24 | €28,180 | €11,542 | -€16,638 | -59.0% |
| Other tangible fixed assets | 26 | €16,347 | €13,494 | -€2,854 | -17.5% |
| Current assets | 29/58 | €81,416 | €115,463 | +€34,047 | +41.8% |
| Cash at bank and in hand | 54/58 | €56,360 | €90,658 | +€34,298 | +60.9% |
| Deferred charges and accrued income | 490/1 | €25,056 | €24,805 | -€251 | -1.0% |
| Total equity and liabilities | 10/49 | €1,051,664 | €1,048,003 | -€3,661 | -0.3% |
| Equity | 10/15 | €538,563 | €570,886 | +€32,322 | +6.0% |
| Contributions | 10/11 | €176,000 | €176,000 | = | 0.0% |
| Reserves | 13 | €262,234 | €294,234 | +€32,000 | +12.2% |
| Distributable reserves | 133 | €262,234 | €294,234 | +€32,000 | +12.2% |
| Profit (loss) carried forward | 14 | €100,329 | €100,652 | +€322 | +0.3% |
| Amounts payable | 17/49 | €513,101 | €477,117 | -€35,984 | -7.0% |
| Amounts payable after more than one year | 17 | €262,363 | €230,363 | -€32,000 | -12.2% |
| Financial debts | 170/4 | €262,363 | €230,363 | -€32,000 | -12.2% |
| Amounts payable within one year | 42/48 | €250,738 | €246,754 | -€3,984 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €48,002 | €32,000 | -€16,002 | -33.3% |
| Trade debts | 44 | €1,028 | €905 | -€123 | -12.0% |
| Suppliers | 440/4 | €1,028 | €905 | -€123 | -12.0% |
| Taxes, remuneration and social security | 45 | €6,326 | €8,745 | +€2,420 | +38.3% |
| Taxes | 450/3 | €6,326 | €8,745 | +€2,420 | +38.3% |
| Other amounts payable | 47/48 | €195,383 | €205,104 | +€9,721 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,636 | €51,628 | -€8 | 0.0% |
| Other operating charges | 640/8 | €4,462 | €4,821 | +€359 | +8.0% |
| Gross operating margin | 9900 | €126,164 | €123,917 | -€2,247 | -1.8% |
| Operating profit (loss) | 9901 | €70,066 | €67,468 | -€2,598 | -3.7% |
| Financial income | 75/76B | €3,995 | - | -€3,995 | |
| Recurring financial income | 75 | €3,995 | - | -€3,995 | |
| Financial charges | 65/66B | €13,009 | €18,173 | +€5,163 | +39.7% |
| Recurring financial charges | 65 | €13,009 | €18,173 | +€5,163 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €61,052 | €49,296 | -€11,756 | -19.3% |
| Income taxes | 67/77 | €20,610 | €16,973 | -€3,637 | -17.6% |
| Profit (loss) for the period | 9904 | €40,442 | €32,322 | -€8,119 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,442 | €32,322 | -€8,119 | -20.1% |
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 9 October 2026 via checked.be.