EPIFEA: 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.
EPIFEA
Largest movements
- Tangible fixed assets -€11,710
down €11,710 (-3.1%), from €374,313 to €362,602
- Deferred charges and accrued income -€5,500
no longer reported in 2025 (was €5,500)
- Debts after one year -€14,847
down €14,847 (-5.9%), from €253,237 to €238,390
- Other debts -€4,213
down €4,213 (-7.9%), from €53,154 to €48,940
- Gross operating margin +€5,695
up €5,695 (+28.8%), from €19,760 to €25,455
- Depreciation +€716
up €716 (+6.5%), from €10,994 to €11,710
- Financial charges +€547
up €547 (+4.6%), from €11,770 to €12,317
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €380,214 | €362,731 | -€17,483 | -4.6% |
| Fixed assets | 21/28 | €374,313 | €362,602 | -€11,710 | -3.1% |
| Tangible fixed assets | 22/27 | €374,313 | €362,602 | -€11,710 | -3.1% |
| Land and buildings | 22 | €374,313 | €362,602 | -€11,710 | -3.1% |
| Current assets | 29/58 | €5,902 | €129 | -€5,773 | -97.8% |
| Amounts receivable within one year | 40/41 | €402 | €129 | -€273 | -67.9% |
| Trade receivables | 40 | €402 | €129 | -€273 | -67.9% |
| Deferred charges and accrued income | 490/1 | €5,500 | - | -€5,500 | |
| Total equity and liabilities | 10/49 | €380,214 | €362,731 | -€17,483 | -4.6% |
| Equity | 10/15 | €56,996 | €58,424 | +€1,428 | +2.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,004 | -€1,576 | +€1,428 | +47.5% |
| Amounts payable | 17/49 | €323,219 | €304,307 | -€18,911 | -5.9% |
| Amounts payable after more than one year | 17 | €253,237 | €238,390 | -€14,847 | -5.9% |
| Financial debts | 170/4 | €253,237 | €238,390 | -€14,847 | -5.9% |
| Amounts payable within one year | 42/48 | €69,981 | €65,040 | -€4,942 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €14,238 | €14,847 | +€609 | +4.3% |
| Financial debts | 43 | €1,235 | €1,252 | +€17 | +1.4% |
| Credit institutions | 430/8 | €1,235 | €1,252 | +€17 | +1.4% |
| Trade debts | 44 | €1,355 | - | -€1,355 | |
| Suppliers | 440/4 | €1,355 | - | -€1,355 | |
| Other amounts payable | 47/48 | €53,154 | €48,940 | -€4,213 | -7.9% |
| Accrued charges and deferred income | 492/3 | - | €878 | +€878 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,994 | €11,710 | +€716 | +6.5% |
| Gross operating margin | 9900 | €19,760 | €25,455 | +€5,695 | +28.8% |
| Operating profit (loss) | 9901 | €8,766 | €13,745 | +€4,979 | +56.8% |
| Financial charges | 65/66B | €11,770 | €12,317 | +€547 | +4.6% |
| Recurring financial charges | 65 | €11,770 | €12,317 | +€547 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,004 | €1,428 | +€4,432 | |
| Profit (loss) for the period | 9904 | -€3,004 | €1,428 | +€4,432 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,004 | €1,428 | +€4,432 |
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 5 October 2026 via checked.be.