ENDEAVOUR: what changed
Two fiscal 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.
ENDEAVOUR
Largest movements
- Tangible fixed assets +€172,661
up €172,661 (+198.2%), from €87,131 to €259,792
of which Land and buildings: +€184,964
- Cash +€38,720
up €38,720 (+88.6%), from €43,681 to €82,401
mainly Debts after one year (+€146,809) and Current portion of long-term debt (+€36,914)
- Receivables within one year +€5,632
up €5,632 (+17.3%), from €32,646 to €38,278
of which Other amounts receivable: +€5,497
- Deferred charges and accrued income +€4,496
up €4,496, from €0 to €4,496
- Debts after one year +€146,809
up €146,809 (+914.4%), from €16,056 to €162,865
- Current portion of long-term debt +€36,914
up €36,914 (+634.6%), from €5,817 to €42,730
- Reserves +€27,950
up €27,950 (+17.1%), from €163,096 to €191,046
of which Distributable reserves: +€27,950
- Trade debts +€7,309
up €7,309 (+182.8%), from €3,999 to €11,308
- Gross operating margin -€9,381
down €9,381 (-10.6%), from €88,818 to €79,437
- Depreciation +€8,367
up €8,367 (+42.2%), from €19,808 to €28,174
- Financial charges -€6,410
down €6,410 (-62.9%), from €10,189 to €3,780
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 | €216,854 | €442,477 | +€225,623 | +104.0% |
| Fixed assets | 21/28 | €87,131 | €259,792 | +€172,661 | +198.2% |
| Tangible fixed assets | 22/27 | €87,131 | €259,792 | +€172,661 | +198.2% |
| Land and buildings | 22 | €44,644 | €229,608 | +€184,964 | +414.3% |
| Furniture and vehicles | 24 | €42,487 | €30,184 | -€12,303 | -29.0% |
| Current assets | 29/58 | €129,723 | €182,685 | +€52,962 | +40.8% |
| Amounts receivable within one year | 40/41 | €32,646 | €38,278 | +€5,632 | +17.3% |
| Trade receivables | 40 | €24,160 | €24,295 | +€135 | +0.6% |
| Other amounts receivable | 41 | €8,486 | €13,983 | +€5,497 | +64.8% |
| Current investments | 50/53 | €53,396 | €57,511 | +€4,115 | +7.7% |
| Cash at bank and in hand | 54/58 | €43,681 | €82,401 | +€38,720 | +88.6% |
| Deferred charges and accrued income | 490/1 | €0 | €4,496 | +€4,496 | |
| Total equity and liabilities | 10/49 | €216,854 | €442,477 | +€225,623 | +104.0% |
| Equity | 10/15 | €153,963 | €186,029 | +€32,066 | +20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €15,922 | €20,037 | +€4,115 | +25.8% |
| Reserves | 13 | €163,096 | €191,046 | +€27,950 | +17.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €10,847 | €10,847 | = | 0.0% |
| Distributable reserves | 133 | €152,249 | €180,199 | +€27,950 | +18.4% |
| Profit (loss) carried forward | 14 | -€31,255 | -€31,254 | +€1 | 0.0% |
| Provisions and deferred taxes | 16 | €14,000 | €14,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €14,000 | €14,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €14,000 | €14,000 | = | 0.0% |
| Amounts payable | 17/49 | €48,891 | €242,448 | +€193,558 | +395.9% |
| Amounts payable after more than one year | 17 | €16,056 | €162,865 | +€146,809 | +914.4% |
| Financial debts | 170/4 | €16,056 | €162,865 | +€146,809 | +914.4% |
| Amounts payable within one year | 42/48 | €32,835 | €79,583 | +€46,748 | +142.4% |
| Current portion of amounts payable after more than one year | 42 | €5,817 | €42,730 | +€36,914 | +634.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,999 | €11,308 | +€7,309 | +182.8% |
| Suppliers | 440/4 | €3,999 | €11,308 | +€7,309 | +182.8% |
| Taxes, remuneration and social security | 45 | €22,341 | €25,546 | +€3,205 | +14.3% |
| Taxes | 450/3 | €22,341 | €25,546 | +€3,205 | +14.3% |
| Other amounts payable | 47/48 | €679 | €0 | -€679 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,808 | €28,174 | +€8,367 | +42.2% |
| Other operating charges | 640/8 | €3,616 | €3,202 | -€414 | -11.4% |
| Gross operating margin | 9900 | €88,818 | €79,437 | -€9,381 | -10.6% |
| Operating profit (loss) | 9901 | €65,395 | €48,061 | -€17,334 | -26.5% |
| Financial income | 75/76B | €1,152 | €471 | -€680 | -59.1% |
| Recurring financial income | 75 | €1,152 | €471 | -€680 | -59.1% |
| Financial charges | 65/66B | €10,189 | €3,780 | -€6,410 | -62.9% |
| Recurring financial charges | 65 | €10,189 | €3,780 | -€6,410 | -62.9% |
| Profit (loss) for the period before taxes | 9903 | €56,357 | €44,753 | -€11,604 | -20.6% |
| Income taxes | 67/77 | €16,427 | €15,969 | -€458 | -2.8% |
| Profit (loss) for the period | 9904 | €39,930 | €28,784 | -€11,146 | -27.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,930 | €28,784 | -€11,146 | -27.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.