Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 49 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
eFFiciency research from Liège, company number BE0744499150, closed financial year 2025 with a result of € 27,137 after tax. For that financial year eFFiciency research recorded a gross margin of € 70,441 and equity of € 5,225. Compared with financial year 2024, the result moved from € 20,441 to € 27,137. Profitable, and profit is growing. The buffer shrank hard: equity is 93 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 26, 2026.
€ 5,225
▼ 93% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 27,137
▲ 33% vs 2024
Profit after tax over the fiscal year.
€ 26,819
▲ 23% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 100,000 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
€ 294,750
▲ 18% vs 2024
Of which on lease € 281,950.
Debts at end 2025
€ 441,862
▲ 121% vs 2024
€ 27,738 is repaid this year. At this pace the long-term loan is gone in ≈ 16 years.
€ 67,060
▲ € 66,699 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 12,450
▲ 120% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 26,594 | € 40,414 | € 47,893 | € 70,441 | ▲ 47% |
| Profit after taxes | € 4,203 | € 16,460 | € 20,441 | € 27,137 | ▲ 33% |
| Equity | € 41,187 | € 57,647 | € 78,088 | € 5,225 | ▼ 93% |
| Total debts | € 262,955 | € 251,535 | € 214,846 | € 640,243 | ▲ 198% |
| Cash | € 2,289 | € 5,322 | € 21,751 | € 26,819 | ▲ 23% |
| Retained profit | € 41,087 | € 57,547 | € 77,988 | € 5,125 | ▼ 93% |
| Dividend | € 0 | € 0 | € 0 | € 100,000 | |
| Bank debt | € 235,262 | € 217,599 | € 199,779 | € 441,862 | ▲ 121% |
| Balance sheet total | € 304,142 | € 309,181 | € 292,933 | € 645,468 | ▲ 120% |
Key figures of eFFiciency research, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to eFFiciency research?
What happened at eFFiciency research in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 27,137 (▲ 33% vs 2024). Source: NBB ↗
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 4,203 profit in 2022 to € 27,137 profit in 2025.
Paid € 20,580 in corporate taxes since 2022.
Best year ever: 2025, with € 27,137 profit.
Paid out € 100,000 in dividends to the owners in total.
A new publication or filing at eFFiciency research? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind eFFiciency research is FABRICE FREBEL.
Directors
According to the 2025 annual accounts
FABRICE FREBEL
Director
Establishments
Establishment units
Physical locations of this company
Rue Bois-la-Dame 124
4020 Liège
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
OVH Mail
Hosting
OVH, FR
DNS
OVH DNS
Domain
Domain
efficiencyresearch.be
Registered
2011-03-09
Website info
Features
Security
Details
- Company number
- 0744.499.150
- VAT number
- BE 0744.499.150
- Registered office
- Rue Bois-la-Dame 124, 4020 Liège
- Names & denominations
- eFFiciency research
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 27 February 2020
- Peppol
- Active · Active since 1 Dec 2025
- Activities · NACE
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