EnDeCo+: 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.
EnDeCo+
Largest movements
- Cash +€7,586
up €7,586 (+47.1%), from €16,095 to €23,682
mainly Net result for the year (+€7,918) and Current portion of long-term debt (+€4,000)
- Tangible fixed assets -€1,541
down €1,541 (-13.7%), from €11,209 to €9,667
of which Plant, machinery and equipment: -€1,010
- Other debts -€4,314
down €4,314 (-50.2%), from €8,600 to €4,286
- Current portion of long-term debt +€4,000
up €4,000, from €0 to €4,000
- Reserves +€3,632
up €3,632 (+20.5%), from €17,730 to €21,363
- Trade debts +€1,559
up €1,559 (+41.4%), from €3,765 to €5,324
- Tax, wage and social debts +€1,451
up €1,451 (+15.1%), from €9,603 to €11,054
- Gross operating margin -€6,886
down €6,886 (-29.8%), from €23,079 to €16,194
- Other operating charges +€2,276
up €2,276 (+167%), from €1,365 to €3,642
- Taxes -€2,196
down €2,196 (-42.1%), from €5,211 to €3,015
- Depreciation +€283
up €283 (+22.5%), from €1,258 to €1,541
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 | €42,464 | €48,426 | +€5,962 | +14.0% |
| Fixed assets | 21/28 | €11,442 | €9,901 | -€1,541 | -13.5% |
| Tangible fixed assets | 22/27 | €11,209 | €9,667 | -€1,541 | -13.7% |
| Plant, machinery and equipment | 23 | €10,146 | €9,136 | -€1,010 | -10.0% |
| Other tangible fixed assets | 26 | €1,063 | €531 | -€531 | -50.0% |
| Financial fixed assets | 28 | €233 | €233 | = | 0.0% |
| Current assets | 29/58 | €31,022 | €38,525 | +€7,503 | +24.2% |
| Amounts receivable within one year | 40/41 | €11,910 | €11,499 | -€412 | -3.5% |
| Trade receivables | 40 | €11,519 | €9,502 | -€2,018 | -17.5% |
| Other amounts receivable | 41 | €391 | €1,997 | +€1,606 | +410% |
| Cash at bank and in hand | 54/58 | €16,095 | €23,682 | +€7,586 | +47.1% |
| Deferred charges and accrued income | 490/1 | €3,016 | €3,345 | +€329 | +10.9% |
| Total equity and liabilities | 10/49 | €42,464 | €48,426 | +€5,962 | +14.0% |
| Equity | 10/15 | €20,130 | €23,763 | +€3,632 | +18.0% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €17,730 | €21,363 | +€3,632 | +20.5% |
| Distributable reserves | 133 | €17,730 | €21,363 | +€3,632 | +20.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,333 | €24,663 | +€2,330 | +10.4% |
| Amounts payable within one year | 42/48 | €21,968 | €24,663 | +€2,695 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | €4,000 | +€4,000 | |
| Trade debts | 44 | €3,765 | €5,324 | +€1,559 | +41.4% |
| Suppliers | 440/4 | €3,765 | €5,324 | +€1,559 | +41.4% |
| Taxes, remuneration and social security | 45 | €9,603 | €11,054 | +€1,451 | +15.1% |
| Taxes | 450/3 | €9,603 | €11,054 | +€1,451 | +15.1% |
| Other amounts payable | 47/48 | €8,600 | €4,286 | -€4,314 | -50.2% |
| Accrued charges and deferred income | 492/3 | €365 | €0 | -€365 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,258 | €1,541 | +€283 | +22.5% |
| Other operating charges | 640/8 | €1,365 | €3,642 | +€2,276 | +167% |
| Gross operating margin | 9900 | €23,079 | €16,194 | -€6,886 | -29.8% |
| Operating profit (loss) | 9901 | €20,456 | €11,011 | -€9,446 | -46.2% |
| Financial income | 75/76B | €0 | €68 | +€68 | |
| Recurring financial income | 75 | €0 | €68 | +€68 | |
| Financial charges | 65/66B | €172 | €146 | -€26 | -15.2% |
| Recurring financial charges | 65 | €172 | €146 | -€26 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €20,284 | €10,933 | -€9,351 | -46.1% |
| Income taxes | 67/77 | €5,211 | €3,015 | -€2,196 | -42.1% |
| Profit (loss) for the period | 9904 | €15,073 | €7,918 | -€7,155 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,073 | €7,918 | -€7,155 | -47.5% |
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 17 October 2026 via checked.be.