EIVAHO: 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.
EIVAHO
Largest movements
- Cash +€966,399
up €966,399 (+514.9%), from €187,705 to €1.2m
mainly Net result for the year (+€1.6m) and Stocks and contracts (+€275,177)
- Receivables within one year +€456,227
up €456,227 (+186.1%), from €245,151 to €701,379
of which Other amounts receivable: +€322,067
- Stocks and contracts -€275,177
down €275,177 (-55.8%), from €493,289 to €218,112
- Tangible fixed assets +€52,811
new in 2025: €52,811
- Receivables after one year -€52,154
down €52,154 (-70.1%), from €74,411 to €22,257
- Reserves +€1.6m
up €1.6m (+1069.9%), from €150,665 to €1.8m
- Current portion of long-term debt -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Trade debts -€213,705
down €213,705 (-35.7%), from €598,254 to €384,549
- Gross operating margin +€1.9m
up €1.9m (+873.9%), from €219,976 to €2.1m
- Taxes +€466,980
up €466,980 (+733.3%), from €63,679 to €530,659
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.
Cash bridge derived
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 | €1,000,920 | €2,149,192 | +€1.1m | +114.7% |
| Fixed assets | 21/28 | - | €52,811 | +€52,811 | |
| Tangible fixed assets | 22/27 | - | €52,811 | +€52,811 | |
| Other tangible fixed assets | 26 | - | €52,811 | +€52,811 | |
| Current assets | 29/58 | €1,000,920 | €2,096,381 | +€1.1m | +109.4% |
| Amounts receivable after more than one year | 29 | €74,411 | €22,257 | -€52,154 | -70.1% |
| Other amounts receivable | 291 | €74,411 | €22,257 | -€52,154 | -70.1% |
| Stocks and contracts in progress | 3 | €493,289 | €218,112 | -€275,177 | -55.8% |
| Stocks | 30/36 | €493,289 | €218,112 | -€275,177 | -55.8% |
| Amounts receivable within one year | 40/41 | €245,151 | €701,379 | +€456,227 | +186.1% |
| Trade receivables | 40 | €102,508 | €236,668 | +€134,160 | +130.9% |
| Other amounts receivable | 41 | €142,643 | €464,710 | +€322,067 | +225.8% |
| Cash at bank and in hand | 54/58 | €187,705 | €1,154,103 | +€966,399 | +514.9% |
| Deferred charges and accrued income | 490/1 | €364 | €531 | +€167 | +45.9% |
| Total equity and liabilities | 10/49 | €1,000,920 | €2,149,192 | +€1.1m | +114.7% |
| Equity | 10/15 | €152,665 | €1,764,643 | +€1.6m | +1055.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €150,665 | €1,762,643 | +€1.6m | +1069.9% |
| Distributable reserves | 133 | €150,665 | €1,762,643 | +€1.6m | +1069.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €848,254 | €384,549 | -€463,705 | -54.7% |
| Amounts payable within one year | 42/48 | €848,254 | €384,549 | -€463,705 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €250,000 | €0 | -€250,000 | -100.0% |
| Trade debts | 44 | €598,254 | €384,549 | -€213,705 | -35.7% |
| Suppliers | 440/4 | €598,254 | €384,549 | -€213,705 | -35.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,975 | +€1,975 | |
| Other operating charges | 640/8 | €659 | €513 | -€146 | -22.2% |
| Gross operating margin | 9900 | €219,976 | €2,142,296 | +€1.9m | +873.9% |
| Operating profit (loss) | 9901 | €219,317 | €2,139,807 | +€1.9m | +875.7% |
| Financial income | 75/76B | €4,124 | €14,306 | +€10,182 | +246.9% |
| Recurring financial income | 75 | €4,124 | €14,306 | +€10,182 | +246.9% |
| Financial charges | 65/66B | €4,987 | €11,476 | +€6,489 | +130.1% |
| Recurring financial charges | 65 | €4,987 | €11,476 | +€6,489 | +130.1% |
| Profit (loss) for the period before taxes | 9903 | €218,454 | €2,142,637 | +€1.9m | +880.8% |
| Income taxes | 67/77 | €63,679 | €530,659 | +€466,980 | +733.3% |
| Profit (loss) for the period | 9904 | €154,775 | €1,611,978 | +€1.5m | +941.5% |
| Profit (loss) for the period to be appropriated | 9905 | €154,775 | €1,611,978 | +€1.5m | +941.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.