E.N.D.: 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.
E.N.D.
Largest movements
- Receivables within one year +€11,208
up €11,208 (+1,065%), from €1,053 to €12,261
of which Other amounts receivable: +€9,681
- Other debts +€25,055
up €25,055 (+42.8%), from €58,534 to €83,588
- Current portion of long-term debt -€12,736
down €12,736 (-47.5%), from €26,791 to €14,054
- Debts after one year +€10,092
up €10,092 (+11.1%), from €90,782 to €100,874
of which Financial debts: +€10,092
- Profit (loss) carried forward -€8,359
down €8,359 (-6.4%), from €130,701 to €122,342
- Trade debts +€6,091
up €6,091 (+44.4%), from €13,713 to €19,804
- Turnover -€459,151
no longer reported in 2025 (was €459,151)
- Purchases and services -€184,611
no longer reported in 2025 (was €184,611)
- Gross operating margin -€86,003
down €86,003 (-30.9%), from €277,887 to €191,884
- Staff costs -€64,640
down €64,640 (-31.7%), from €204,137 to €139,497
- Financial charges -€4,762
down €4,762 (-60.4%), from €7,879 to €3,117
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 | €399,310 | €414,325 | +€15,015 | +3.8% |
| Fixed assets | 21/28 | €322,218 | €323,562 | +€1,344 | +0.4% |
| Tangible fixed assets | 22/27 | €320,524 | €321,868 | +€1,344 | +0.4% |
| Land and buildings | 22 | €36,093 | €34,665 | -€1,428 | -4.0% |
| Plant, machinery and equipment | 23 | €64,539 | €68,695 | +€4,156 | +6.4% |
| Furniture and vehicles | 24 | €219,892 | €218,508 | -€1,384 | -0.6% |
| Financial fixed assets | 28 | €1,694 | €1,694 | = | 0.0% |
| Current assets | 29/58 | €77,092 | €90,763 | +€13,671 | +17.7% |
| Amounts receivable within one year | 40/41 | €1,053 | €12,261 | +€11,208 | +1,065% |
| Trade receivables | 40 | - | €1,527 | +€1,527 | |
| Other amounts receivable | 41 | €1,053 | €10,734 | +€9,681 | +920% |
| Current investments | 50/53 | €16,068 | €16,107 | +€40 | +0.2% |
| Cash at bank and in hand | 54/58 | €58,005 | €61,866 | +€3,862 | +6.7% |
| Deferred charges and accrued income | 490/1 | €1,967 | €529 | -€1,439 | -73.1% |
| Total equity and liabilities | 10/49 | €399,310 | €414,325 | +€15,015 | +3.8% |
| Equity | 10/15 | €177,272 | €168,912 | -€8,359 | -4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,979 | €27,979 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €26,120 | €26,120 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,701 | €122,342 | -€8,359 | -6.4% |
| Amounts payable | 17/49 | €222,038 | €245,413 | +€23,374 | +10.5% |
| Amounts payable after more than one year | 17 | €90,782 | €100,874 | +€10,092 | +11.1% |
| Financial debts | 170/4 | €5,782 | €15,874 | +€10,092 | +175% |
| Other amounts payable | 178/9 | €85,000 | €85,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €131,257 | €144,539 | +€13,282 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €26,791 | €14,054 | -€12,736 | -47.5% |
| Trade debts | 44 | €13,713 | €19,804 | +€6,091 | +44.4% |
| Suppliers | 440/4 | €13,713 | €19,804 | +€6,091 | +44.4% |
| Taxes, remuneration and social security | 45 | €32,220 | €27,092 | -€5,128 | -15.9% |
| Taxes | 450/3 | €4,920 | €7,237 | +€2,317 | +47.1% |
| Remuneration and social security | 454/9 | €27,300 | €19,855 | -€7,445 | -27.3% |
| Other amounts payable | 47/48 | €58,534 | €83,588 | +€25,055 | +42.8% |
| Turnover | 70 | €459,151 | - | -€459,151 | |
| Non-recurring operating income | 76A | €3,347 | - | -€3,347 | |
| Goods, raw materials, services and sundry goods | 60/61 | €184,611 | - | -€184,611 | |
| Remuneration, social security and pensions | 62 | €204,137 | €139,497 | -€64,640 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,432 | €36,590 | -€3,842 | -9.5% |
| Other operating charges | 640/8 | €11,166 | €14,527 | +€3,361 | +30.1% |
| Gross operating margin | 9900 | €277,887 | €191,884 | -€86,003 | -30.9% |
| Operating profit (loss) | 9901 | €22,152 | €1,269 | -€20,883 | -94.3% |
| Financial income | 75/76B | €359 | €149 | -€210 | -58.6% |
| Recurring financial income | 75 | €359 | €149 | -€210 | -58.6% |
| Financial charges | 65/66B | €7,879 | €3,117 | -€4,762 | -60.4% |
| Recurring financial charges | 65 | €7,879 | €3,117 | -€4,762 | -60.4% |
| Profit (loss) for the period before taxes | 9903 | €14,633 | -€1,699 | -€16,331 | |
| Income taxes | 67/77 | €5,801 | €3,270 | -€2,531 | -43.6% |
| Profit (loss) for the period | 9904 | €8,832 | -€4,968 | -€13,800 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,832 | -€4,968 | -€13,800 |
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 18 October 2026 via checked.be.