CAD enZo: 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.
CAD enZo
Largest movements
- Cash -€24,165
down €24,165 (-13.3%), from €181,605 to €157,440
mainly Other debts (-€58,262) and Receivables within one year (-€7,084)
- Receivables within one year +€7,084
up €7,084 (+70.6%), from €10,029 to €17,113
of which Trade receivables: +€4,386
- Deferred charges and accrued income -€3,095
down €3,095 (-33.8%), from €9,153 to €6,058
- Other debts -€58,262
down €58,262 (-65.2%), from €89,309 to €31,047
- Reserves +€34,272
up €34,272 (+39.4%), from €86,981 to €121,253
- Accrued charges and deferred income +€4,542
new in 2025: €4,542
- Tax, wage and social debts -€2,334
down €2,334 (-18.3%), from €12,732 to €10,398
- Gross operating margin +€14,999
up €14,999 (+34.8%), from €43,076 to €58,075
- Financial charges +€4,458
up €4,458 (+258%), from €1,726 to €6,184
- Taxes +€2,839
up €2,839 (+24.5%), from €11,601 to €14,439
- Financial income -€1,496
down €1,496 (-66.4%), from €2,252 to €756
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 | €207,635 | €186,545 | -€21,090 | -10.2% |
| Fixed assets | 21/28 | €6,849 | €5,934 | -€915 | -13.4% |
| Tangible fixed assets | 22/27 | €6,849 | €5,934 | -€915 | -13.4% |
| Plant, machinery and equipment | 23 | €1,482 | €661 | -€821 | -55.4% |
| Furniture and vehicles | 24 | €94 | €0 | -€94 | -100% |
| Other tangible fixed assets | 26 | €5,273 | €5,273 | = | 0.0% |
| Current assets | 29/58 | €200,786 | €180,610 | -€20,176 | -10.0% |
| Amounts receivable within one year | 40/41 | €10,029 | €17,113 | +€7,084 | +70.6% |
| Trade receivables | 40 | €9,666 | €14,052 | +€4,386 | +45.4% |
| Other amounts receivable | 41 | €363 | €3,061 | +€2,698 | +744% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €181,605 | €157,440 | -€24,165 | -13.3% |
| Deferred charges and accrued income | 490/1 | €9,153 | €6,058 | -€3,095 | -33.8% |
| Total equity and liabilities | 10/49 | €207,635 | €186,545 | -€21,090 | -10.2% |
| Equity | 10/15 | €105,581 | €139,853 | +€34,272 | +32.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,981 | €121,253 | +€34,272 | +39.4% |
| Distributable reserves | 133 | €86,981 | €121,253 | +€34,272 | +39.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €102,054 | €46,692 | -€55,363 | -54.2% |
| Amounts payable within one year | 42/48 | €102,054 | €42,149 | -€59,905 | -58.7% |
| Financial debts | 43 | €3 | €10 | +€7 | +234% |
| Credit institutions | 430/8 | €3 | €10 | +€7 | +234% |
| Trade debts | 44 | €10 | €694 | +€685 | +7,028% |
| Suppliers | 440/4 | €10 | €694 | +€685 | +7,028% |
| Taxes, remuneration and social security | 45 | €12,732 | €10,398 | -€2,334 | -18.3% |
| Taxes | 450/3 | €12,732 | €10,398 | -€2,334 | -18.3% |
| Other amounts payable | 47/48 | €89,309 | €31,047 | -€58,262 | -65.2% |
| Accrued charges and deferred income | 492/3 | - | €4,542 | +€4,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,349 | €915 | -€434 | -32.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €43,076 | €58,075 | +€14,999 | +34.8% |
| Operating profit (loss) | 9901 | €41,340 | €56,760 | +€15,421 | +37.3% |
| Financial income | 75/76B | €2,252 | €756 | -€1,496 | -66.4% |
| Recurring financial income | 75 | €2,252 | €756 | -€1,496 | -66.4% |
| Financial charges | 65/66B | €1,726 | €6,184 | +€4,458 | +258% |
| Recurring financial charges | 65 | €1,726 | €6,184 | +€4,458 | +258% |
| Profit (loss) for the period before taxes | 9903 | €41,865 | €51,333 | +€9,467 | +22.6% |
| Income taxes | 67/77 | €11,601 | €14,439 | +€2,839 | +24.5% |
| Profit (loss) for the period | 9904 | €30,265 | €36,893 | +€6,629 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,265 | €36,893 | +€6,629 | +21.9% |
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 31 October 2026 via checked.be.