Eurocef: 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.
Eurocef
Largest movements
- Receivables within one year -€31,593
down €31,593 (-31.7%), from €99,787 to €68,194
of which Trade receivables: -€33,482
- Tangible fixed assets -€22,232
down €22,232 (-7.3%), from €305,229 to €282,997
of which Land and buildings: -€20,211
- Cash -€6,271
no longer reported in 2025 (was €6,271)
mainly Net result for the year (-€37,536) and Tax, wage and social debts (-€12,107)
- Profit (loss) carried forward -€30,932
down €30,932 (-42.8%), from -€72,251 to -€103,183
- Tax, wage and social debts -€12,107
no longer reported in 2025 (was €12,107)
- Other debts -€9,879
down €9,879 (-15.4%), from €64,091 to €54,212
- Reserves -€6,604
down €6,604 (-1.9%), from €356,423 to €349,819
of which Tax-exempt reserves: -€6,604
- Gross operating margin -€55,908
down €55,908, from €47,553 to -€8,355
- Other operating charges +€1,744
up €1,744 (+23.9%), from €7,311 to €9,055
- Depreciation -€892
down €892 (-3.9%), from €23,124 to €22,232
- Financial charges -€726
down €726 (-35.9%), from €2,022 to €1,296
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.
Derived cash bridge
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 | €411,287 | €351,191 | -€60,096 | -14.6% |
| Fixed assets | 21/28 | €305,229 | €282,997 | -€22,232 | -7.3% |
| Tangible fixed assets | 22/27 | €305,229 | €282,997 | -€22,232 | -7.3% |
| Land and buildings | 22 | €299,153 | €278,942 | -€20,211 | -6.8% |
| Plant, machinery and equipment | 23 | €6,076 | €4,055 | -€2,021 | -33.3% |
| Current assets | 29/58 | €106,058 | €68,194 | -€37,864 | -35.7% |
| Amounts receivable within one year | 40/41 | €99,787 | €68,194 | -€31,593 | -31.7% |
| Trade receivables | 40 | €99,787 | €66,305 | -€33,482 | -33.6% |
| Other amounts receivable | 41 | - | €1,889 | +€1,889 | |
| Cash at bank and in hand | 54/58 | €6,271 | - | -€6,271 | |
| Total equity and liabilities | 10/49 | €411,287 | €351,191 | -€60,096 | -14.6% |
| Equity | 10/15 | €302,764 | €265,228 | -€37,536 | -12.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €356,423 | €349,819 | -€6,604 | -1.9% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Legal reserve | 130 | €3,718 | €3,718 | = | 0.0% |
| Tax-exempt reserves | 132 | €91,249 | €84,645 | -€6,604 | -7.2% |
| Distributable reserves | 133 | €261,456 | €261,456 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,251 | -€103,183 | -€30,932 | -42.8% |
| Provisions and deferred taxes | 16 | €32,325 | €28,923 | -€3,402 | -10.5% |
| Deferred taxes | 168 | €32,325 | €28,923 | -€3,402 | -10.5% |
| Amounts payable | 17/49 | €76,198 | €57,040 | -€19,158 | -25.1% |
| Amounts payable within one year | 42/48 | €76,198 | €57,040 | -€19,158 | -25.1% |
| Financial debts | 43 | - | €2,828 | +€2,828 | |
| Credit institutions | 430/8 | - | €2,828 | +€2,828 | |
| Taxes, remuneration and social security | 45 | €12,107 | - | -€12,107 | |
| Taxes | 450/3 | €12,107 | - | -€12,107 | |
| Other amounts payable | 47/48 | €64,091 | €54,212 | -€9,879 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,124 | €22,232 | -€892 | -3.9% |
| Other operating charges | 640/8 | €7,311 | €9,055 | +€1,744 | +23.9% |
| Gross operating margin | 9900 | €47,553 | -€8,355 | -€55,908 | |
| Operating profit (loss) | 9901 | €17,118 | -€39,642 | -€56,760 | |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €2,022 | €1,296 | -€726 | -35.9% |
| Recurring financial charges | 65 | €2,022 | €1,296 | -€726 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €15,106 | -€40,938 | -€56,044 | |
| Transfer from deferred taxes | 780 | €3,402 | €3,402 | = | 0.0% |
| Profit (loss) for the period | 9904 | €18,508 | -€37,536 | -€56,044 | |
| Transfer from tax-exempt reserves | 789 | €6,604 | €6,604 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,112 | -€30,932 | -€56,044 |
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 17 October 2026 via checked.be.