ENDLESS: 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.
ENDLESS
Largest movements
- Stocks and contracts -€313,083
down €313,083 (-70.8%), from €442,289 to €129,206
- Receivables within one year +€157,294
up €157,294 (+37.3%), from €421,276 to €578,571
of which Trade receivables: +€151,420
- Tangible fixed assets -€85,017
down €85,017 (-13.2%), from €641,920 to €556,903
of which Land and buildings: -€52,650
- Debts after one year -€167,415
down €167,415 (-24.5%), from €682,316 to €514,902
- Other debts -€54,439
down €54,439 (-91.6%), from €59,439 to €5,000
- Trade debts -€30,719
down €30,719 (-27.1%), from €113,464 to €82,745
- Reserves +€29,496
up €29,496 (+13.6%), from €217,513 to €247,009
of which Distributable reserves: +€29,496
- Short-term financial debts -€24,118
down €24,118 (-12.6%), from €191,192 to €167,074
- Staff costs +€75,765
up €75,765 (+18.4%), from €410,953 to €486,718
- Gross operating margin +€73,191
up €73,191 (+11.5%), from €634,983 to €708,174
- Financial charges +€13,104
up €13,104 (+38.4%), from €34,100 to €47,205
- Depreciation +€7,952
up €7,952 (+7.4%), from €107,605 to €115,557
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 | €1,517,338 | €1,283,248 | -€234,089 | -15.4% |
| Fixed assets | 21/28 | €641,920 | €556,903 | -€85,017 | -13.2% |
| Tangible fixed assets | 22/27 | €641,920 | €556,903 | -€85,017 | -13.2% |
| Land and buildings | 22 | €328,082 | €275,433 | -€52,650 | -16.0% |
| Plant, machinery and equipment | 23 | €243,696 | €219,525 | -€24,170 | -9.9% |
| Furniture and vehicles | 24 | €70,142 | €61,945 | -€8,197 | -11.7% |
| Current assets | 29/58 | €875,418 | €726,346 | -€149,072 | -17.0% |
| Amounts receivable after more than one year | 29 | €1,015 | €1,015 | = | 0.0% |
| Trade receivables | 290 | €1,015 | €1,015 | = | 0.0% |
| Stocks and contracts in progress | 3 | €442,289 | €129,206 | -€313,083 | -70.8% |
| Stocks | 30/36 | €442,289 | €129,206 | -€313,083 | -70.8% |
| Amounts receivable within one year | 40/41 | €421,276 | €578,571 | +€157,294 | +37.3% |
| Trade receivables | 40 | €412,448 | €563,867 | +€151,420 | +36.7% |
| Other amounts receivable | 41 | €8,829 | €14,703 | +€5,875 | +66.5% |
| Cash at bank and in hand | 54/58 | €923 | €6,565 | +€5,642 | +611.3% |
| Deferred charges and accrued income | 490/1 | €9,915 | €10,989 | +€1,074 | +10.8% |
| Total equity and liabilities | 10/49 | €1,517,338 | €1,283,248 | -€234,089 | -15.4% |
| Equity | 10/15 | €257,513 | €287,009 | +€29,496 | +11.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €217,513 | €247,009 | +€29,496 | +13.6% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €213,513 | €243,009 | +€29,496 | +13.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,259,825 | €996,240 | -€263,586 | -20.9% |
| Amounts payable after more than one year | 17 | €682,316 | €514,902 | -€167,415 | -24.5% |
| Financial debts | 170/4 | €682,316 | €514,902 | -€167,415 | -24.5% |
| Amounts payable within one year | 42/48 | €575,406 | €481,338 | -€94,068 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €181,941 | €200,165 | +€18,224 | +10.0% |
| Financial debts | 43 | €191,192 | €167,074 | -€24,118 | -12.6% |
| Credit institutions | 430/8 | €191,192 | €167,074 | -€24,118 | -12.6% |
| Trade debts | 44 | €113,464 | €82,745 | -€30,719 | -27.1% |
| Suppliers | 440/4 | €113,464 | €82,745 | -€30,719 | -27.1% |
| Taxes, remuneration and social security | 45 | €29,369 | €26,355 | -€3,015 | -10.3% |
| Taxes | 450/3 | €7,660 | €2,062 | -€5,597 | -73.1% |
| Remuneration and social security | 454/9 | €21,709 | €24,292 | +€2,583 | +11.9% |
| Other amounts payable | 47/48 | €59,439 | €5,000 | -€54,439 | -91.6% |
| Accrued charges and deferred income | 492/3 | €2,103 | €0 | -€2,103 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €410,953 | €486,718 | +€75,765 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,605 | €115,557 | +€7,952 | +7.4% |
| Other operating charges | 640/8 | €8,621 | €8,608 | -€13 | -0.1% |
| Gross operating margin | 9900 | €634,983 | €708,174 | +€73,191 | +11.5% |
| Operating profit (loss) | 9901 | €107,804 | €97,291 | -€10,513 | -9.8% |
| Financial income | 75/76B | €128 | €120 | -€8 | -5.9% |
| Recurring financial income | 75 | €128 | €120 | -€8 | -5.9% |
| Financial charges | 65/66B | €34,100 | €47,205 | +€13,104 | +38.4% |
| Recurring financial charges | 65 | €34,100 | €47,205 | +€13,104 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €73,831 | €50,207 | -€23,625 | -32.0% |
| Income taxes | 67/77 | €21,933 | €15,711 | -€6,223 | -28.4% |
| Profit (loss) for the period | 9904 | €51,898 | €34,496 | -€17,402 | -33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,898 | €34,496 | -€17,402 | -33.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.