ENVY: 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.
ENVY
Largest movements
- Receivables within one year -€825,714
down €825,714 (-42.3%), from €2.0m to €1.1m
of which Trade receivables: -€825,444
- Stocks and contracts -€27,840
down €27,840 (-17.4%), from €160,243 to €132,403
- Deferred charges and accrued income -€26,877
down €26,877 (-95.4%), from €28,161 to €1,284
- Trade debts -€717,383
down €717,383 (-52.1%), from €1.4m to €659,763
- Other debts -€155,718
down €155,718 (-59.0%), from €264,073 to €108,355
- Gross operating margin -€78,406
down €78,406, from €71,801 to -€6,605
- Financial income +€34,745
up €34,745 (+1625.8%), from €2,137 to €36,882
- Financial charges -€23,703
down €23,703 (-59.0%), from €40,198 to €16,495
- Staff costs -€16,848
down €16,848 (-98.4%), from €17,122 to €274
- Depreciation -€4,988
down €4,988 (-83.0%), from €6,013 to €1,025
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 | €2,155,852 | €1,279,325 | -€876,527 | -40.7% |
| Fixed assets | 21/28 | €3,847 | €1,930 | -€1,917 | -49.8% |
| Tangible fixed assets | 22/27 | €3,647 | €1,730 | -€1,917 | -52.6% |
| Plant, machinery and equipment | 23 | €1,131 | €397 | -€734 | -64.9% |
| Furniture and vehicles | 24 | €1,624 | €1,333 | -€291 | -17.9% |
| Leasing and similar rights | 25 | €892 | - | -€892 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €2,152,006 | €1,277,396 | -€874,610 | -40.6% |
| Stocks and contracts in progress | 3 | €160,243 | €132,403 | -€27,840 | -17.4% |
| Stocks | 30/36 | €160,243 | €132,403 | -€27,840 | -17.4% |
| Amounts receivable within one year | 40/41 | €1,953,618 | €1,127,903 | -€825,714 | -42.3% |
| Trade receivables | 40 | €1,944,860 | €1,119,416 | -€825,444 | -42.4% |
| Other amounts receivable | 41 | €8,758 | €8,487 | -€270 | -3.1% |
| Cash at bank and in hand | 54/58 | €9,985 | €15,805 | +€5,821 | +58.3% |
| Deferred charges and accrued income | 490/1 | €28,161 | €1,284 | -€26,877 | -95.4% |
| Total equity and liabilities | 10/49 | €2,155,852 | €1,279,325 | -€876,527 | -40.7% |
| Equity | 10/15 | €385,080 | €393,238 | +€8,158 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €366,480 | €374,638 | +€8,158 | +2.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €364,620 | €372,778 | +€8,158 | +2.2% |
| Amounts payable | 17/49 | €1,770,772 | €886,088 | -€884,685 | -50.0% |
| Amounts payable within one year | 42/48 | €1,770,772 | €886,088 | -€884,685 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €951 | - | -€951 | |
| Financial debts | 43 | €120,356 | €112,800 | -€7,556 | -6.3% |
| Other loans | 439 | €120,356 | €112,800 | -€7,556 | -6.3% |
| Trade debts | 44 | €1,377,147 | €659,763 | -€717,383 | -52.1% |
| Suppliers | 440/4 | €1,377,147 | €659,763 | -€717,383 | -52.1% |
| Advances received on contracts in progress | 46 | €1,825 | - | -€1,825 | |
| Taxes, remuneration and social security | 45 | €6,420 | €5,169 | -€1,251 | -19.5% |
| Taxes | 450/3 | €4,405 | €5,169 | +€763 | +17.3% |
| Remuneration and social security | 454/9 | €2,014 | - | -€2,014 | |
| Other amounts payable | 47/48 | €264,073 | €108,355 | -€155,718 | -59.0% |
| Remuneration, social security and pensions | 62 | €17,122 | €274 | -€16,848 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,013 | €1,025 | -€4,988 | -83.0% |
| Other operating charges | 640/8 | €4,223 | €1,118 | -€3,105 | -73.5% |
| Gross operating margin | 9900 | €71,801 | -€6,605 | -€78,406 | |
| Operating profit (loss) | 9901 | €44,443 | -€9,023 | -€53,466 | |
| Financial income | 75/76B | €2,137 | €36,882 | +€34,745 | +1625.8% |
| Recurring financial income | 75 | €2,137 | €36,882 | +€34,745 | +1625.8% |
| Financial charges | 65/66B | €40,198 | €16,495 | -€23,703 | -59.0% |
| Recurring financial charges | 65 | €40,198 | €16,495 | -€23,703 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €6,382 | €11,364 | +€4,982 | +78.1% |
| Income taxes | 67/77 | €2,266 | €3,207 | +€940 | +41.5% |
| Profit (loss) for the period | 9904 | €4,115 | €8,158 | +€4,042 | +98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,115 | €8,158 | +€4,042 | +98.2% |
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 4 October 2026 via checked.be.