ENDEE: 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.
ENDEE
Largest movements
- Cash +€125,783
up €125,783 (+307.3%), from €40,929 to €166,712
mainly Other debts (+€190,396) and Trade debts (+€179,543)
- Receivables within one year -€43,476
down €43,476 (-24.2%), from €179,776 to €136,300
of which Other amounts receivable: -€31,427
- Tangible fixed assets -€34,463
down €34,463 (-9.8%), from €352,364 to €317,900
of which Land and buildings: -€18,286
- Reserves -€238,889
down €238,889 (-71.7%), from €333,253 to €94,363
- Other debts +€190,396
up €190,396 (+59797.7%), from €318 to €190,714
- Trade debts +€179,543
up €179,543 (+2770.8%), from €6,480 to €186,023
- Tax, wage and social debts -€48,847
down €48,847 (-100.0%), from €48,847 to €0
- Debts after one year -€32,412
down €32,412 (-23.1%), from €140,365 to €107,953
- Gross operating margin -€81,287
down €81,287 (-73.7%), from €110,352 to €29,065
- Taxes -€21,761
down €21,761 (-100.0%), from €21,761 to €0
- Financial charges -€1,162
down €1,162 (-26.2%), from €4,429 to €3,267
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 | €573,394 | €623,789 | +€50,395 | +8.8% |
| Fixed assets | 21/28 | €352,364 | €317,900 | -€34,463 | -9.8% |
| Tangible fixed assets | 22/27 | €352,364 | €317,900 | -€34,463 | -9.8% |
| Land and buildings | 22 | €279,601 | €261,315 | -€18,286 | -6.5% |
| Plant, machinery and equipment | 23 | €56,179 | €41,825 | -€14,354 | -25.6% |
| Furniture and vehicles | 24 | €16,583 | €14,760 | -€1,823 | -11.0% |
| Current assets | 29/58 | €221,030 | €305,888 | +€84,858 | +38.4% |
| Amounts receivable within one year | 40/41 | €179,776 | €136,300 | -€43,476 | -24.2% |
| Trade receivables | 40 | €12,049 | €0 | -€12,049 | -100.0% |
| Other amounts receivable | 41 | €167,727 | €136,300 | -€31,427 | -18.7% |
| Cash at bank and in hand | 54/58 | €40,929 | €166,712 | +€125,783 | +307.3% |
| Deferred charges and accrued income | 490/1 | €325 | €2,876 | +€2,551 | +783.8% |
| Total equity and liabilities | 10/49 | €573,394 | €623,789 | +€50,395 | +8.8% |
| Equity | 10/15 | €345,653 | €106,763 | -€238,889 | -69.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €333,253 | €94,363 | -€238,889 | -71.7% |
| Distributable reserves | 133 | €333,253 | €94,363 | -€238,889 | -71.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €227,741 | €517,025 | +€289,284 | +127.0% |
| Amounts payable after more than one year | 17 | €140,365 | €107,953 | -€32,412 | -23.1% |
| Financial debts | 170/4 | €140,365 | €107,953 | -€32,412 | -23.1% |
| Amounts payable within one year | 42/48 | €87,376 | €409,072 | +€321,696 | +368.2% |
| Current portion of amounts payable after more than one year | 42 | €31,731 | €32,335 | +€604 | +1.9% |
| Trade debts | 44 | €6,480 | €186,023 | +€179,543 | +2770.8% |
| Suppliers | 440/4 | €6,480 | €186,023 | +€179,543 | +2770.8% |
| Taxes, remuneration and social security | 45 | €48,847 | €0 | -€48,847 | -100.0% |
| Taxes | 450/3 | €48,847 | €0 | -€48,847 | -100.0% |
| Other amounts payable | 47/48 | €318 | €190,714 | +€190,396 | +59797.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,245 | €38,040 | -€205 | -0.5% |
| Other operating charges | 640/8 | €1,742 | €1,398 | -€344 | -19.7% |
| Gross operating margin | 9900 | €110,352 | €29,065 | -€81,287 | -73.7% |
| Operating profit (loss) | 9901 | €70,366 | -€10,372 | -€80,739 | |
| Financial income | 75/76B | €619 | €1,486 | +€867 | +140.0% |
| Recurring financial income | 75 | €619 | €1,486 | +€867 | +140.0% |
| Financial charges | 65/66B | €4,429 | €3,267 | -€1,162 | -26.2% |
| Recurring financial charges | 65 | €4,429 | €3,267 | -€1,162 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €66,557 | -€12,153 | -€78,709 | |
| Income taxes | 67/77 | €21,761 | €0 | -€21,761 | -100.0% |
| Profit (loss) for the period | 9904 | €44,796 | -€12,153 | -€56,949 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,796 | -€12,153 | -€56,949 |
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.