EVN: 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.
EVN
Largest movements
- Cash +€350,574
new in 2025: €350,574
mainly Trade debts (+€164,155) and Short-term financial debts (+€150,000)
- Receivables within one year +€172,267
up €172,267 (+32.8%), from €525,977 to €698,244
of which Trade receivables: +€201,902
- Current investments -€147,731
no longer reported in 2025 (was €147,731)
- Intangible fixed assets +€19,914
up €19,914 (+12.1%), from €164,655 to €184,569
- Trade debts +€164,155
up €164,155 (+70.6%), from €232,456 to €396,611
- Short-term financial debts +€150,000
new in 2025: €150,000
- Tax, wage and social debts +€60,191
up €60,191 (+99.0%), from €60,811 to €121,002
of which Taxes: +€48,427
- Debts after one year -€24,763
down €24,763 (-6.7%), from €369,193 to €344,429
- Advances received -€20,628
down €20,628 (-98.2%), from €21,002 to €375
- Gross operating margin +€251,434
up €251,434 (+60.8%), from €413,479 to €664,914
- Staff costs +€110,754
up €110,754 (+35.0%), from €316,083 to €426,837
- Depreciation +€23,679
up €23,679 (+21.5%), from €110,319 to €133,998
- Taxes +€19,492
up €19,492 (+6,221%), from €313 to €19,805
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 | €1,571,550 | €1,942,202 | +€370,652 | +23.6% |
| Fixed assets | 21/28 | €630,493 | €632,901 | +€2,409 | +0.4% |
| Intangible fixed assets | 21 | €164,655 | €184,569 | +€19,914 | +12.1% |
| Tangible fixed assets | 22/27 | €465,838 | €448,333 | -€17,505 | -3.8% |
| Land and buildings | 22 | €386,156 | €323,670 | -€62,485 | -16.2% |
| Plant, machinery and equipment | 23 | €22,426 | €14,024 | -€8,402 | -37.5% |
| Furniture and vehicles | 24 | €57,256 | €110,638 | +€53,383 | +93.2% |
| Current assets | 29/58 | €941,058 | €1,309,301 | +€368,243 | +39.1% |
| Stocks and contracts in progress | 3 | €259,894 | €254,696 | -€5,198 | -2.0% |
| Stocks | 30/36 | €247,162 | €237,041 | -€10,121 | -4.1% |
| Contracts in progress | 37 | €12,732 | €17,655 | +€4,923 | +38.7% |
| Amounts receivable within one year | 40/41 | €525,977 | €698,244 | +€172,267 | +32.8% |
| Trade receivables | 40 | €457,621 | €659,523 | +€201,902 | +44.1% |
| Other amounts receivable | 41 | €68,356 | €38,721 | -€29,635 | -43.4% |
| Current investments | 50/53 | €147,731 | - | -€147,731 | |
| Cash at bank and in hand | 54/58 | - | €350,574 | +€350,574 | |
| Deferred charges and accrued income | 490/1 | €7,455 | €5,786 | -€1,669 | -22.4% |
| Total equity and liabilities | 10/49 | €1,571,550 | €1,942,202 | +€370,652 | +23.6% |
| Equity | 10/15 | €733,672 | €745,859 | +€12,187 | +1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €712,500 | €727,000 | +€14,500 | +2.0% |
| Distributable reserves | 133 | €712,500 | €727,000 | +€14,500 | +2.0% |
| Profit (loss) carried forward | 14 | €2,572 | €259 | -€2,313 | -89.9% |
| Amounts payable | 17/49 | €837,878 | €1,196,343 | +€358,464 | +42.8% |
| Amounts payable after more than one year | 17 | €369,193 | €344,429 | -€24,763 | -6.7% |
| Financial debts | 170/4 | €369,193 | €344,429 | -€24,763 | -6.7% |
| Amounts payable within one year | 42/48 | €468,686 | €850,886 | +€382,201 | +81.5% |
| Current portion of amounts payable after more than one year | 42 | €69,940 | €88,515 | +€18,576 | +26.6% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €232,456 | €396,611 | +€164,155 | +70.6% |
| Suppliers | 440/4 | €232,456 | €396,611 | +€164,155 | +70.6% |
| Advances received on contracts in progress | 46 | €21,002 | €375 | -€20,628 | -98.2% |
| Taxes, remuneration and social security | 45 | €60,811 | €121,002 | +€60,191 | +99.0% |
| Taxes | 450/3 | €25,736 | €74,163 | +€48,427 | +188% |
| Remuneration and social security | 454/9 | €35,076 | €46,840 | +€11,764 | +33.5% |
| Other amounts payable | 47/48 | €84,475 | €94,383 | +€9,907 | +11.7% |
| Accrued charges and deferred income | 492/3 | - | €1,027 | +€1,027 | |
| Remuneration, social security and pensions | 62 | €316,083 | €426,837 | +€110,754 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,319 | €133,998 | +€23,679 | +21.5% |
| Other operating charges | 640/8 | €5,740 | €5,801 | +€61 | +1.1% |
| Non-recurring operating charges | 66A | - | €1,235 | +€1,235 | |
| Gross operating margin | 9900 | €413,479 | €664,914 | +€251,434 | +60.8% |
| Operating profit (loss) | 9901 | -€18,663 | €97,042 | +€115,705 | |
| Financial income | 75/76B | €8,922 | €3,967 | -€4,955 | -55.5% |
| Recurring financial income | 75 | €8,922 | €3,967 | -€4,955 | -55.5% |
| Financial charges | 65/66B | €14,171 | €16,517 | +€2,346 | +16.6% |
| Recurring financial charges | 65 | €14,171 | €16,517 | +€2,346 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,911 | €84,492 | +€108,404 | |
| Income taxes | 67/77 | €313 | €19,805 | +€19,492 | +6,221% |
| Profit (loss) for the period | 9904 | -€24,225 | €64,687 | +€88,912 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,225 | €64,687 | +€88,912 |
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 19 October 2026 via checked.be.