2Enhance: 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.
2Enhance
Largest movements
- Receivables within one year +€59,664
up €59,664 (+1566.2%), from €3,809 to €63,474
of which Trade receivables: +€56,481
- Tangible fixed assets +€56,903
up €56,903 (+999.6%), from €5,693 to €62,596
of which Land and buildings: +€56,412
- Stocks and contracts +€44,071
up €44,071 (+24.6%), from €179,079 to €223,150
of which Contracts in progress: +€223,150
- Cash -€43,504
down €43,504 (-47.4%), from €91,831 to €48,328
mainly Investment in fixed assets (net) (-€60,714) and Receivables within one year (-€59,664)
- Reserves +€98,160
up €98,160 (+60.7%), from €161,630 to €259,790
- Other debts +€14,770
up €14,770 (+30.8%), from €48,018 to €62,788
- Tax, wage and social debts +€10,456
up €10,456 (+53.3%), from €19,631 to €30,087
of which Taxes: +€7,392
- Trade debts -€4,644
down €4,644 (-15.4%), from €30,227 to €25,583
- Gross operating margin +€39,157
up €39,157 (+32.4%), from €120,892 to €160,049
- Taxes +€12,089
up €12,089 (+32.3%), from €37,467 to €49,556
- Financial charges +€3,820
up €3,820 (+203.1%), from €1,881 to €5,702
- Financial income -€3,708
down €3,708 (-97.7%), from €3,796 to €88
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 | €282,243 | €400,986 | +€118,743 | +42.1% |
| Fixed assets | 21/28 | €5,693 | €62,596 | +€56,903 | +999.6% |
| Tangible fixed assets | 22/27 | €5,693 | €62,596 | +€56,903 | +999.6% |
| Land and buildings | 22 | - | €56,412 | +€56,412 | |
| Plant, machinery and equipment | 23 | €1,571 | €3,809 | +€2,238 | +142.5% |
| Other tangible fixed assets | 26 | €4,122 | €2,375 | -€1,747 | -42.4% |
| Current assets | 29/58 | €276,551 | €338,390 | +€61,840 | +22.4% |
| Stocks and contracts in progress | 3 | €179,079 | €223,150 | +€44,071 | +24.6% |
| Stocks | 30/36 | €179,079 | - | -€179,079 | |
| Contracts in progress | 37 | - | €223,150 | +€223,150 | |
| Amounts receivable within one year | 40/41 | €3,809 | €63,474 | +€59,664 | +1566.2% |
| Trade receivables | 40 | - | €56,481 | +€56,481 | |
| Other amounts receivable | 41 | €3,809 | €6,992 | +€3,183 | +83.6% |
| Cash at bank and in hand | 54/58 | €91,831 | €48,328 | -€43,504 | -47.4% |
| Deferred charges and accrued income | 490/1 | €1,831 | €3,439 | +€1,608 | +87.8% |
| Total equity and liabilities | 10/49 | €282,243 | €400,986 | +€118,743 | +42.1% |
| Equity | 10/15 | €184,301 | €282,461 | +€98,160 | +53.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,630 | €259,790 | +€98,160 | +60.7% |
| Distributable reserves | 133 | €161,630 | €259,790 | +€98,160 | +60.7% |
| Profit (loss) carried forward | 14 | €4,071 | €4,071 | = | 0.0% |
| Amounts payable | 17/49 | €97,942 | €118,525 | +€20,583 | +21.0% |
| Amounts payable within one year | 42/48 | €97,876 | €118,458 | +€20,582 | +21.0% |
| Trade debts | 44 | €30,227 | €25,583 | -€4,644 | -15.4% |
| Suppliers | 440/4 | €30,227 | €25,583 | -€4,644 | -15.4% |
| Taxes, remuneration and social security | 45 | €19,631 | €30,087 | +€10,456 | +53.3% |
| Taxes | 450/3 | €19,631 | €27,023 | +€7,392 | +37.7% |
| Remuneration and social security | 454/9 | - | €3,064 | +€3,064 | |
| Other amounts payable | 47/48 | €48,018 | €62,788 | +€14,770 | +30.8% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,027 | €3,811 | +€784 | +25.9% |
| Other operating charges | 640/8 | €4,049 | €2,908 | -€1,141 | -28.2% |
| Non-recurring operating charges | 66A | €6,431 | - | -€6,431 | |
| Gross operating margin | 9900 | €120,892 | €160,049 | +€39,157 | +32.4% |
| Operating profit (loss) | 9901 | €107,384 | €153,330 | +€45,945 | +42.8% |
| Financial income | 75/76B | €3,796 | €88 | -€3,708 | -97.7% |
| Recurring financial income | 75 | €3,796 | €88 | -€3,708 | -97.7% |
| Financial charges | 65/66B | €1,881 | €5,702 | +€3,820 | +203.1% |
| Recurring financial charges | 65 | €1,881 | €5,702 | +€3,820 | +203.1% |
| Profit (loss) for the period before taxes | 9903 | €109,299 | €147,716 | +€38,417 | +35.1% |
| Income taxes | 67/77 | €37,467 | €49,556 | +€12,089 | +32.3% |
| Profit (loss) for the period | 9904 | €71,832 | €98,160 | +€26,328 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,832 | €98,160 | +€26,328 | +36.7% |
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 10 October 2026 via checked.be.