ENVIROTOP: 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.
ENVIROTOP
Largest movements
- Stocks and contracts -€150,000
down €150,000 (-77.9%), from €192,462 to €42,462
of which Contracts in progress: -€150,000
- Cash -€59,093
down €59,093 (-81.4%), from €72,613 to €13,521
mainly Other debts (-€724,800) and Net result for the year (-€339,304)
- Receivables within one year +€51,324
up €51,324 (+7.2%), from €713,169 to €764,493
of which Other amounts receivable: +€75,597
- Tangible fixed assets -€33,846
down €33,846 (-17.6%), from €191,960 to €158,114
of which Leasing and similar rights: -€46,333
- Debts after one year +€936,418
up €936,418 (+1477.1%), from €63,398 to €999,816
- Other debts -€724,800
down €724,800 (-87.7%), from €826,428 to €101,627
- Profit (loss) carried forward -€339,304
down €339,304 (-206.5%), from -€164,279 to -€503,583
- Current portion of long-term debt -€36,901
down €36,901 (-45.3%), from €81,494 to €44,593
- Trade debts -€33,409
down €33,409 (-18.5%), from €180,312 to €146,903
- Gross operating margin -€324,585
down €324,585 (-89.1%), from €364,181 to €39,596
- Write-downs +€66,737
up €66,737, from -€66,737 to €0
- Other operating charges -€62,561
down €62,561 (-80.0%), from €78,195 to €15,634
- Staff costs -€18,179
down €18,179 (-6.4%), from €283,878 to €265,699
- Depreciation -€14,696
down €14,696 (-17.8%), from €82,393 to €67,697
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 | €1,192,497 | €989,307 | -€203,190 | -17.0% |
| Fixed assets | 21/28 | €198,761 | €159,656 | -€39,106 | -19.7% |
| Intangible fixed assets | 21 | €5,266 | €7 | -€5,260 | -99.9% |
| Tangible fixed assets | 22/27 | €191,960 | €158,114 | -€33,846 | -17.6% |
| Plant, machinery and equipment | 23 | €23,238 | €36,454 | +€13,216 | +56.9% |
| Furniture and vehicles | 24 | €1,461 | €732 | -€729 | -49.9% |
| Leasing and similar rights | 25 | €167,262 | €120,928 | -€46,333 | -27.7% |
| Financial fixed assets | 28 | €1,535 | €1,535 | = | 0.0% |
| Current assets | 29/58 | €993,736 | €829,651 | -€164,085 | -16.5% |
| Stocks and contracts in progress | 3 | €192,462 | €42,462 | -€150,000 | -77.9% |
| Stocks | 30/36 | €42,462 | €42,462 | = | 0.0% |
| Contracts in progress | 37 | €150,000 | €0 | -€150,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €713,169 | €764,493 | +€51,324 | +7.2% |
| Trade receivables | 40 | €407,459 | €383,186 | -€24,273 | -6.0% |
| Other amounts receivable | 41 | €305,710 | €381,307 | +€75,597 | +24.7% |
| Cash at bank and in hand | 54/58 | €72,613 | €13,521 | -€59,093 | -81.4% |
| Deferred charges and accrued income | 490/1 | €15,491 | €9,175 | -€6,316 | -40.8% |
| Total equity and liabilities | 10/49 | €1,192,497 | €989,307 | -€203,190 | -17.0% |
| Equity | 10/15 | -€131,874 | -€471,178 | -€339,304 | -257.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €13,855 | €13,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100.0% |
| Reserves not available under the articles | 1311 | €1,855 | €0 | -€1,855 | -100.0% |
| Distributable reserves | 133 | €12,000 | €13,855 | +€1,855 | +15.5% |
| Profit (loss) carried forward | 14 | -€164,279 | -€503,583 | -€339,304 | -206.5% |
| Amounts payable | 17/49 | €1,324,371 | €1,460,485 | +€136,114 | +10.3% |
| Amounts payable after more than one year | 17 | €63,398 | €999,816 | +€936,418 | +1477.1% |
| Financial debts | 170/4 | €63,398 | €999,816 | +€936,418 | +1477.1% |
| Amounts payable within one year | 42/48 | €1,235,924 | €445,886 | -€790,038 | -63.9% |
| Current portion of amounts payable after more than one year | 42 | €81,494 | €44,593 | -€36,901 | -45.3% |
| Financial debts | 43 | €85,500 | €91,871 | +€6,371 | +7.5% |
| Credit institutions | 430/8 | €85,500 | €91,871 | +€6,371 | +7.5% |
| Trade debts | 44 | €180,312 | €146,903 | -€33,409 | -18.5% |
| Suppliers | 440/4 | €180,312 | €146,903 | -€33,409 | -18.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €62,190 | €60,891 | -€1,299 | -2.1% |
| Taxes | 450/3 | €25,247 | €15,520 | -€9,727 | -38.5% |
| Remuneration and social security | 454/9 | €36,943 | €45,371 | +€8,428 | +22.8% |
| Other amounts payable | 47/48 | €826,428 | €101,627 | -€724,800 | -87.7% |
| Accrued charges and deferred income | 492/3 | €25,050 | €14,783 | -€10,266 | -41.0% |
| Non-recurring operating income | 76A | - | €51,500 | +€51,500 | |
| Remuneration, social security and pensions | 62 | €283,878 | €265,699 | -€18,179 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,393 | €67,697 | -€14,696 | -17.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€66,737 | €0 | +€66,737 | |
| Other operating charges | 640/8 | €78,195 | €15,634 | -€62,561 | -80.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €364,181 | €39,596 | -€324,585 | -89.1% |
| Operating profit (loss) | 9901 | -€13,548 | -€309,434 | -€295,886 | -2184.0% |
| Financial income | 75/76B | €8,149 | €9,773 | +€1,624 | +19.9% |
| Recurring financial income | 75 | €8,149 | €9,773 | +€1,624 | +19.9% |
| Financial charges | 65/66B | €36,379 | €39,447 | +€3,068 | +8.4% |
| Recurring financial charges | 65 | €36,379 | €39,447 | +€3,068 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | -€41,777 | -€339,107 | -€297,330 | -711.7% |
| Income taxes | 67/77 | €201 | €197 | -€4 | -2.2% |
| Profit (loss) for the period | 9904 | -€41,978 | -€339,304 | -€297,326 | -708.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,978 | -€339,304 | -€297,326 | -708.3% |
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 9 October 2026 via checked.be.