ENDEAVOR: 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.
ENDEAVOR
Largest movements
- Tangible fixed assets +€421,005
up €421,005 (+21.9%), from €1.9m to €2.3m
of which Land and buildings: +€421,290
- Receivables within one year -€388,470
down €388,470 (-64.8%), from €599,858 to €211,388
of which Other amounts receivable: -€270,215
- Trade debts +€193,503
up €193,503 (+3,509%), from €5,515 to €199,018
- Profit (loss) carried forward -€105,135
down €105,135 (-7.5%), from €1.4m to €1.3m
- Debts after one year -€43,731
down €43,731 (-50.6%), from €86,481 to €42,750
- Gross operating margin +€44,956
up €44,956 (+96.9%), from -€46,386 to -€1,430
- Depreciation +€6,707
up €6,707 (+7.6%), from €88,707 to €95,414
- Other operating charges -€2,650
down €2,650 (-45.0%), from €5,892 to €3,242
- Financial charges -€1,768
down €1,768 (-25.8%), from €6,843 to €5,075
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 | €2,520,993 | €2,553,475 | +€32,482 | +1.3% |
| Fixed assets | 21/28 | €1,918,946 | €2,339,951 | +€421,005 | +21.9% |
| Tangible fixed assets | 22/27 | €1,918,035 | €2,339,040 | +€421,005 | +21.9% |
| Land and buildings | 22 | €1,889,032 | €2,310,322 | +€421,290 | +22.3% |
| Plant, machinery and equipment | 23 | €285 | - | -€285 | |
| Other tangible fixed assets | 26 | €28,719 | €28,719 | = | 0.0% |
| Financial fixed assets | 28 | €911 | €911 | = | 0.0% |
| Current assets | 29/58 | €602,047 | €213,524 | -€388,523 | -64.5% |
| Amounts receivable within one year | 40/41 | €599,858 | €211,388 | -€388,470 | -64.8% |
| Trade receivables | 40 | €140,378 | €22,123 | -€118,255 | -84.2% |
| Other amounts receivable | 41 | €459,480 | €189,265 | -€270,215 | -58.8% |
| Cash at bank and in hand | 54/58 | €1,936 | €1,622 | -€315 | -16.3% |
| Deferred charges and accrued income | 490/1 | €253 | €515 | +€263 | +104% |
| Total equity and liabilities | 10/49 | €2,520,993 | €2,553,475 | +€32,482 | +1.3% |
| Equity | 10/15 | €2,127,709 | €2,022,575 | -€105,135 | -4.9% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €33,795 | €33,795 | = | 0.0% |
| Non-distributable reserves | 130/1 | €33,795 | €33,795 | = | 0.0% |
| Reserves not available under the articles | 1311 | €33,795 | €33,795 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,393,914 | €1,288,779 | -€105,135 | -7.5% |
| Amounts payable | 17/49 | €393,284 | €530,901 | +€137,617 | +35.0% |
| Amounts payable after more than one year | 17 | €86,481 | €42,750 | -€43,731 | -50.6% |
| Financial debts | 170/4 | €86,481 | €42,750 | -€43,731 | -50.6% |
| Amounts payable within one year | 42/48 | €306,803 | €488,151 | +€181,347 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | €58,806 | €43,731 | -€15,076 | -25.6% |
| Trade debts | 44 | €5,515 | €199,018 | +€193,503 | +3,509% |
| Suppliers | 440/4 | €5,515 | €199,018 | +€193,503 | +3,509% |
| Taxes, remuneration and social security | 45 | €2,682 | €3,242 | +€561 | +20.9% |
| Taxes | 450/3 | €2,682 | €3,242 | +€561 | +20.9% |
| Other amounts payable | 47/48 | €239,800 | €242,160 | +€2,360 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,707 | €95,414 | +€6,707 | +7.6% |
| Other operating charges | 640/8 | €5,892 | €3,242 | -€2,650 | -45.0% |
| Gross operating margin | 9900 | -€46,386 | -€1,430 | +€44,956 | +96.9% |
| Operating profit (loss) | 9901 | -€140,985 | -€100,086 | +€40,899 | +29.0% |
| Financial income | 75/76B | - | €26 | +€26 | |
| Recurring financial income | 75 | - | €26 | +€26 | |
| Financial charges | 65/66B | €6,843 | €5,075 | -€1,768 | -25.8% |
| Recurring financial charges | 65 | €6,843 | €5,075 | -€1,768 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | -€147,828 | -€105,135 | +€42,694 | +28.9% |
| Profit (loss) for the period | 9904 | -€147,828 | -€105,135 | +€42,694 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€147,828 | -€105,135 | +€42,694 | +28.9% |
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.