Endeavour: 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.
Endeavour
Largest movements
- Receivables within one year -€284,762
down €284,762 (-67.8%), from €420,293 to €135,531
of which Trade receivables: -€272,606
- Cash +€72,744
up €72,744 (+241.1%), from €30,173 to €102,917
mainly Receivables within one year (+€284,762) and Debts after one year (+€69,787)
- Deferred charges and accrued income -€44,408
down €44,408 (-38.5%), from €115,381 to €70,974
- Financial fixed assets -€14,810
down €14,810 (-77.5%), from €19,110 to €4,300
- Trade debts -€264,870
down €264,870 (-74.3%), from €356,715 to €91,845
- Short-term financial debts -€85,000
down €85,000 (-63.0%), from €135,000 to €50,000
- Debts after one year +€69,787
up €69,787 (+795.4%), from €8,774 to €78,561
- Reserves +€10,000
up €10,000 (+37.2%), from €26,860 to €36,860
of which Distributable reserves: +€10,000
- Tax, wage and social debts -€8,500
down €8,500 (-57.3%), from €14,840 to €6,340
of which Remuneration and social security: -€4,295
- Staff costs -€3,832
down €3,832 (-10.5%), from €36,594 to €32,762
- Financial income +€1,964
up €1,964 (+520.2%), from €378 to €2,342
- Gross operating margin +€1,918
up €1,918 (+2.9%), from €65,323 to €67,241
- Taxes +€1,818
up €1,818 (+62.0%), from €2,931 to €4,749
- Financial charges +€1,365
up €1,365 (+10.3%), from €13,267 to €14,632
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 | €595,288 | €318,813 | -€276,475 | -46.4% |
| Fixed assets | 21/28 | €29,441 | €9,391 | -€20,049 | -68.1% |
| Intangible fixed assets | 21 | €8,308 | €3,867 | -€4,442 | -53.5% |
| Tangible fixed assets | 22/27 | €2,022 | €1,224 | -€798 | -39.5% |
| Furniture and vehicles | 24 | €2,022 | €1,224 | -€798 | -39.5% |
| Financial fixed assets | 28 | €19,110 | €4,300 | -€14,810 | -77.5% |
| Current assets | 29/58 | €565,847 | €309,422 | -€256,425 | -45.3% |
| Amounts receivable within one year | 40/41 | €420,293 | €135,531 | -€284,762 | -67.8% |
| Trade receivables | 40 | €394,092 | €121,486 | -€272,606 | -69.2% |
| Other amounts receivable | 41 | €26,201 | €14,045 | -€12,156 | -46.4% |
| Cash at bank and in hand | 54/58 | €30,173 | €102,917 | +€72,744 | +241.1% |
| Deferred charges and accrued income | 490/1 | €115,381 | €70,974 | -€44,408 | -38.5% |
| Total equity and liabilities | 10/49 | €595,288 | €318,813 | -€276,475 | -46.4% |
| Equity | 10/15 | €40,691 | €51,412 | +€10,721 | +26.3% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €26,860 | €36,860 | +€10,000 | +37.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Profit (loss) carried forward | 14 | €1,231 | €1,952 | +€721 | +58.6% |
| Amounts payable | 17/49 | €554,596 | €267,401 | -€287,196 | -51.8% |
| Amounts payable after more than one year | 17 | €8,774 | €78,561 | +€69,787 | +795.4% |
| Financial debts | 170/4 | €8,774 | €78,561 | +€69,787 | +795.4% |
| Amounts payable within one year | 42/48 | €535,956 | €178,973 | -€356,983 | -66.6% |
| Current portion of amounts payable after more than one year | 42 | €25,829 | €27,216 | +€1,387 | +5.4% |
| Financial debts | 43 | €135,000 | €50,000 | -€85,000 | -63.0% |
| Credit institutions | 430/8 | €135,000 | €50,000 | -€85,000 | -63.0% |
| Trade debts | 44 | €356,715 | €91,845 | -€264,870 | -74.3% |
| Suppliers | 440/4 | €356,715 | €91,845 | -€264,870 | -74.3% |
| Taxes, remuneration and social security | 45 | €14,840 | €6,340 | -€8,500 | -57.3% |
| Taxes | 450/3 | €4,205 | - | -€4,205 | |
| Remuneration and social security | 454/9 | €10,635 | €6,340 | -€4,295 | -40.4% |
| Other amounts payable | 47/48 | €3,571 | €3,571 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €9,866 | €9,866 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €36,594 | €32,762 | -€3,832 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,454 | €6,413 | -€1,041 | -14.0% |
| Other operating charges | 640/8 | €1,421 | €306 | -€1,115 | -78.5% |
| Gross operating margin | 9900 | €65,323 | €67,241 | +€1,918 | +2.9% |
| Operating profit (loss) | 9901 | €19,854 | €27,760 | +€7,906 | +39.8% |
| Financial income | 75/76B | €378 | €2,342 | +€1,964 | +520.2% |
| Recurring financial income | 75 | €378 | €2,342 | +€1,964 | +520.2% |
| Financial charges | 65/66B | €13,267 | €14,632 | +€1,365 | +10.3% |
| Recurring financial charges | 65 | €13,267 | €14,632 | +€1,365 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | €6,964 | €15,470 | +€8,506 | +122.1% |
| Income taxes | 67/77 | €2,931 | €4,749 | +€1,818 | +62.0% |
| Profit (loss) for the period | 9904 | €4,033 | €10,721 | +€6,688 | +165.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,033 | €10,721 | +€6,688 | +165.8% |
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 10 October 2026 via checked.be.