ENDONAM: 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.
ENDONAM
Largest movements
- Cash +€246,824
up €246,824 (+88.4%), from €279,161 to €525,985
mainly Net result for the year (+€416,413) and Depreciation (+€137,622)
- Tangible fixed assets -€48,938
down €48,938 (-3.2%), from €1.5m to €1.5m
of which Land and buildings: -€60,672
- Reserves +€416,000
up €416,000 (+56.7%), from €733,859 to €1.1m
- Debts after one year -€166,151
down €166,151 (-20.1%), from €824,856 to €658,705
- Tax, wage and social debts -€22,324
down €22,324 (-14.9%), from €149,928 to €127,604
of which Taxes: -€16,297
- Gross operating margin +€70,667
up €70,667 (+8.2%), from €860,294 to €930,961
- Depreciation -€34,046
down €34,046 (-19.8%), from €171,668 to €137,622
- Taxes +€28,160
up €28,160 (+16.9%), from €167,057 to €195,218
- Staff costs +€10,238
up €10,238 (+9.2%), from €111,499 to €121,737
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 | €1,958,473 | €2,186,454 | +€227,981 | +11.6% |
| Fixed assets | 21/28 | €1,546,220 | €1,494,320 | -€51,901 | -3.4% |
| Intangible fixed assets | 21 | €23,942 | €15,979 | -€7,962 | -33.3% |
| Tangible fixed assets | 22/27 | €1,506,150 | €1,457,212 | -€48,938 | -3.2% |
| Land and buildings | 22 | €1,339,071 | €1,278,399 | -€60,672 | -4.5% |
| Plant, machinery and equipment | 23 | €80,444 | €118,302 | +€37,858 | +47.1% |
| Furniture and vehicles | 24 | €58,643 | €39,721 | -€18,923 | -32.3% |
| Leasing and similar rights | 25 | €9,389 | €1,474 | -€7,914 | -84.3% |
| Other tangible fixed assets | 26 | €18,603 | €19,316 | +€712 | +3.8% |
| Financial fixed assets | 28 | €16,129 | €21,129 | +€5,000 | +31.0% |
| Current assets | 29/58 | €412,252 | €692,134 | +€279,882 | +67.9% |
| Amounts receivable within one year | 40/41 | €123,207 | €144,813 | +€21,606 | +17.5% |
| Trade receivables | 40 | €116,238 | €123,554 | +€7,316 | +6.3% |
| Other amounts receivable | 41 | €6,969 | €21,259 | +€14,289 | +205% |
| Cash at bank and in hand | 54/58 | €279,161 | €525,985 | +€246,824 | +88.4% |
| Deferred charges and accrued income | 490/1 | €9,884 | €21,336 | +€11,452 | +116% |
| Total equity and liabilities | 10/49 | €1,958,473 | €2,186,454 | +€227,981 | +11.6% |
| Equity | 10/15 | €753,377 | €1,169,790 | +€416,413 | +55.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €733,859 | €1,149,859 | +€416,000 | +56.7% |
| Distributable reserves | 133 | €733,859 | €1,149,859 | +€416,000 | +56.7% |
| Profit (loss) carried forward | 14 | €926 | €1,339 | +€413 | +44.6% |
| Amounts payable | 17/49 | €1,205,096 | €1,016,663 | -€188,432 | -15.6% |
| Amounts payable after more than one year | 17 | €824,856 | €658,705 | -€166,151 | -20.1% |
| Financial debts | 170/4 | €824,856 | €658,705 | -€166,151 | -20.1% |
| Amounts payable within one year | 42/48 | €379,082 | €357,005 | -€22,077 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €183,271 | €179,778 | -€3,493 | -1.9% |
| Trade debts | 44 | €39,105 | €49,624 | +€10,518 | +26.9% |
| Suppliers | 440/4 | €39,105 | €49,624 | +€10,518 | +26.9% |
| Taxes, remuneration and social security | 45 | €149,928 | €127,604 | -€22,324 | -14.9% |
| Taxes | 450/3 | €128,537 | €112,240 | -€16,297 | -12.7% |
| Remuneration and social security | 454/9 | €21,391 | €15,363 | -€6,027 | -28.2% |
| Other amounts payable | 47/48 | €6,778 | - | -€6,778 | |
| Accrued charges and deferred income | 492/3 | €1,158 | €953 | -€205 | -17.7% |
| Non-recurring operating income | 76A | €912 | €54,291 | +€53,380 | +5,855% |
| Remuneration, social security and pensions | 62 | €111,499 | €121,737 | +€10,238 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,668 | €137,622 | -€34,046 | -19.8% |
| Other operating charges | 640/8 | €14,694 | €14,763 | +€69 | +0.5% |
| Non-recurring operating charges | 66A | €400 | €776 | +€375 | +93.8% |
| Gross operating margin | 9900 | €860,294 | €930,961 | +€70,667 | +8.2% |
| Operating profit (loss) | 9901 | €562,032 | €656,063 | +€94,031 | +16.7% |
| Financial income | 75/76B | - | €485 | +€485 | |
| Recurring financial income | 75 | - | €485 | +€485 | |
| Financial charges | 65/66B | €48,873 | €44,918 | -€3,955 | -8.1% |
| Recurring financial charges | 65 | €48,873 | €44,918 | -€3,955 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €513,160 | €611,631 | +€98,471 | +19.2% |
| Income taxes | 67/77 | €167,057 | €195,218 | +€28,160 | +16.9% |
| Profit (loss) for the period | 9904 | €346,102 | €416,413 | +€70,311 | +20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €346,102 | €416,413 | +€70,311 | +20.3% |
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 25 October 2026 via checked.be.