EGNATIA: 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.
EGNATIA
Largest movements
- Receivables after one year +€49,500
new in 2025: €49,500
- Stocks and contracts +€46,955
up €46,955 (+537%), from €8,750 to €55,705
of which Contracts in progress: +€53,205
- Cash -€27,096
down €27,096 (-98.8%), from €27,419 to €324
mainly Receivables after one year (-€49,500) and Stocks and contracts (-€46,955)
- Receivables within one year +€18,338
up €18,338 (+118%), from €15,576 to €33,914
of which Other amounts receivable: +€21,912
- Tangible fixed assets +€8,512
up €8,512 (+95.0%), from €8,959 to €17,470
of which Furniture and vehicles: +€7,038
- Trade debts +€43,758
up €43,758 (+200%), from €21,899 to €65,657
- Tax, wage and social debts +€29,807
up €29,807 (+247%), from €12,051 to €41,858
- Reserves +€24,306
up €24,306 (+99.1%), from €24,528 to €48,834
- Gross operating margin +€12,448
up €12,448 (+30.1%), from €41,384 to €53,832
- Other operating charges +€5,152
up €5,152 (+1,189%), from €433 to €5,585
- Depreciation +€2,791
up €2,791 (+632%), from €441 to €3,232
- Financial income +€1,621
new in 2025: €1,621
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 | €61,084 | €158,914 | +€97,831 | +160% |
| Fixed assets | 21/28 | €9,339 | €17,850 | +€8,512 | +91.1% |
| Tangible fixed assets | 22/27 | €8,959 | €17,470 | +€8,512 | +95.0% |
| Plant, machinery and equipment | 23 | - | €1,474 | +€1,474 | |
| Furniture and vehicles | 24 | €8,959 | €15,996 | +€7,038 | +78.6% |
| Financial fixed assets | 28 | €380 | €380 | = | 0.0% |
| Current assets | 29/58 | €51,745 | €141,064 | +€89,319 | +173% |
| Amounts receivable after more than one year | 29 | - | €49,500 | +€49,500 | |
| Other amounts receivable | 291 | - | €49,500 | +€49,500 | |
| Stocks and contracts in progress | 3 | €8,750 | €55,705 | +€46,955 | +537% |
| Stocks | 30/36 | €8,750 | €2,500 | -€6,250 | -71.4% |
| Contracts in progress | 37 | - | €53,205 | +€53,205 | |
| Amounts receivable within one year | 40/41 | €15,576 | €33,914 | +€18,338 | +118% |
| Trade receivables | 40 | €12,834 | €9,260 | -€3,575 | -27.9% |
| Other amounts receivable | 41 | €2,741 | €24,654 | +€21,912 | +799% |
| Cash at bank and in hand | 54/58 | €27,419 | €324 | -€27,096 | -98.8% |
| Deferred charges and accrued income | 490/1 | - | €1,621 | +€1,621 | |
| Total equity and liabilities | 10/49 | €61,084 | €158,914 | +€97,831 | +160% |
| Equity | 10/15 | €27,028 | €51,334 | +€24,306 | +89.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €24,528 | €48,834 | +€24,306 | +99.1% |
| Distributable reserves | 133 | €24,528 | €48,834 | +€24,306 | +99.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,056 | €107,580 | +€73,525 | +216% |
| Amounts payable within one year | 42/48 | €34,056 | €107,580 | +€73,525 | +216% |
| Trade debts | 44 | €21,899 | €65,657 | +€43,758 | +200% |
| Suppliers | 440/4 | €21,899 | €65,657 | +€43,758 | +200% |
| Taxes, remuneration and social security | 45 | €12,051 | €41,858 | +€29,807 | +247% |
| Taxes | 450/3 | €12,051 | €41,858 | +€29,807 | +247% |
| Other amounts payable | 47/48 | €106 | €66 | -€40 | -37.8% |
| Non-recurring operating income | 76A | - | €3,024 | +€3,024 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €441 | €3,232 | +€2,791 | +632% |
| Other operating charges | 640/8 | €433 | €5,585 | +€5,152 | +1,189% |
| Gross operating margin | 9900 | €41,384 | €53,832 | +€12,448 | +30.1% |
| Operating profit (loss) | 9901 | €40,509 | €45,015 | +€4,506 | +11.1% |
| Financial income | 75/76B | - | €1,621 | +€1,621 | |
| Recurring financial income | 75 | - | €1,621 | +€1,621 | |
| Financial charges | 65/66B | €185 | €564 | +€379 | +205% |
| Recurring financial charges | 65 | €185 | €564 | +€379 | +205% |
| Profit (loss) for the period before taxes | 9903 | €40,324 | €46,072 | +€5,748 | +14.3% |
| Income taxes | 67/77 | €12,051 | €11,766 | -€285 | -2.4% |
| Profit (loss) for the period | 9904 | €28,273 | €34,306 | +€6,033 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,273 | €34,306 | +€6,033 | +21.3% |
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 22 October 2026 via checked.be.