EFFECT-IT: 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.
EFFECT-IT
Largest movements
- Cash +€30,806
up €30,806 (+12.1%), from €254,057 to €284,863
mainly Net result for the year (+€185,390) and Trade debts (+€11,930)
- Reserves +€185,390
up €185,390 (+36.2%), from €512,020 to €697,410
- Other debts -€161,565
down €161,565 (-100%), from €161,565 to €0
- Debts after one year -€12,151
down €12,151 (-20.8%), from €58,447 to €46,295
- Trade debts +€11,930
up €11,930 (+544%), from €2,192 to €14,122
- Current portion of long-term debt -€8,721
down €8,721 (-41.8%), from €20,873 to €12,151
- Gross operating margin +€52,167
up €52,167 (+22.6%), from €230,832 to €282,999
- Taxes +€19,038
up €19,038 (+30.1%), from €63,348 to €82,386
- Other operating charges -€7,902
down €7,902 (-64.7%), from €12,221 to €4,320
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 | €806,486 | €828,518 | +€22,032 | +2.7% |
| Fixed assets | 21/28 | €422,948 | €416,708 | -€6,240 | -1.5% |
| Tangible fixed assets | 22/27 | €418,298 | €412,058 | -€6,240 | -1.5% |
| Land and buildings | 22 | €407,886 | €401,959 | -€5,927 | -1.5% |
| Furniture and vehicles | 24 | €1,412 | €1,099 | -€313 | -22.2% |
| Other tangible fixed assets | 26 | €9,000 | €9,000 | = | 0.0% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €383,538 | €411,810 | +€28,272 | +7.4% |
| Amounts receivable within one year | 40/41 | €122,596 | €114,591 | -€8,005 | -6.5% |
| Trade receivables | 40 | €122,596 | €113,586 | -€9,010 | -7.3% |
| Other amounts receivable | 41 | €0 | €1,005 | +€1,005 | |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €254,057 | €284,863 | +€30,806 | +12.1% |
| Deferred charges and accrued income | 490/1 | €6,885 | €12,355 | +€5,470 | +79.5% |
| Total equity and liabilities | 10/49 | €806,486 | €828,518 | +€22,032 | +2.7% |
| Equity | 10/15 | €518,220 | €703,610 | +€185,390 | +35.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €512,020 | €697,410 | +€185,390 | +36.2% |
| Distributable reserves | 133 | €512,020 | €697,410 | +€185,390 | +36.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €288,266 | €124,908 | -€163,358 | -56.7% |
| Amounts payable after more than one year | 17 | €58,447 | €46,295 | -€12,151 | -20.8% |
| Financial debts | 170/4 | €58,447 | €46,295 | -€12,151 | -20.8% |
| Amounts payable within one year | 42/48 | €228,784 | €77,429 | -€151,355 | -66.2% |
| Current portion of amounts payable after more than one year | 42 | €20,873 | €12,151 | -€8,721 | -41.8% |
| Financial debts | 43 | - | €127 | +€127 | |
| Credit institutions | 430/8 | - | €127 | +€127 | |
| Trade debts | 44 | €2,192 | €14,122 | +€11,930 | +544% |
| Suppliers | 440/4 | €2,192 | €14,122 | +€11,930 | +544% |
| Taxes, remuneration and social security | 45 | €44,153 | €51,029 | +€6,876 | +15.6% |
| Taxes | 450/3 | €44,153 | €48,441 | +€4,287 | +9.7% |
| Remuneration and social security | 454/9 | - | €2,588 | +€2,588 | |
| Other amounts payable | 47/48 | €161,565 | €0 | -€161,565 | -100% |
| Accrued charges and deferred income | 492/3 | €1,035 | €1,183 | +€148 | +14.3% |
| Non-recurring operating income | 76A | €1,039 | €0 | -€1,039 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,079 | €6,240 | +€161 | +2.6% |
| Other operating charges | 640/8 | €12,221 | €4,320 | -€7,902 | -64.7% |
| Gross operating margin | 9900 | €230,832 | €282,999 | +€52,167 | +22.6% |
| Operating profit (loss) | 9901 | €212,531 | €272,440 | +€59,908 | +28.2% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100% |
| Financial charges | 65/66B | €4,934 | €4,664 | -€270 | -5.5% |
| Recurring financial charges | 65 | €4,934 | €4,664 | -€270 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €207,603 | €267,775 | +€60,172 | +29.0% |
| Income taxes | 67/77 | €63,348 | €82,386 | +€19,038 | +30.1% |
| Profit (loss) for the period | 9904 | €144,255 | €185,390 | +€41,135 | +28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €144,255 | €185,390 | +€41,135 | +28.5% |
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 29 October 2026 via checked.be.