E-NET.: 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.
E-NET.
Largest movements
- Current investments -€541,726
no longer reported in 2025 (was €541,726)
- Intangible fixed assets +€477,160
up €477,160 (+279.8%), from €170,525 to €647,685
- Tangible fixed assets -€102,198
down €102,198 (-25.6%), from €398,695 to €296,497
of which Furniture and vehicles: -€83,297
- Cash +€78,076
up €78,076 (+30.8%), from €253,606 to €331,681
mainly Current investments (+€541,726) and Depreciation (+€144,920)
- Receivables within one year -€49,332
down €49,332 (-9.1%), from €540,726 to €491,393
of which Other amounts receivable: -€35,879
- Other debts -€114,690
down €114,690 (-97.6%), from €117,548 to €2,858
- Debts after one year -€95,122
down €95,122 (-10.0%), from €954,981 to €859,859
- Tax, wage and social debts +€70,356
up €70,356 (+61.7%), from €114,081 to €184,438
of which Remuneration and social security: +€38,425
- Staff costs +€115,861
up €115,861 (+13.7%), from €846,007 to €961,868
- Financial income +€107,056
up €107,056 (+307.5%), from €34,816 to €141,872
- Gross operating margin +€52,522
up €52,522 (+5.2%), from €1.0m to €1.1m
- Depreciation +€33,458
up €33,458 (+30.0%), from €111,463 to €144,920
- Write-downs +€17,697
new in 2025: €17,697
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 | €1,917,055 | €1,778,730 | -€138,325 | -7.2% |
| Fixed assets | 21/28 | €569,991 | €944,953 | +€374,962 | +65.8% |
| Intangible fixed assets | 21 | €170,525 | €647,685 | +€477,160 | +279.8% |
| Tangible fixed assets | 22/27 | €398,695 | €296,497 | -€102,198 | -25.6% |
| Furniture and vehicles | 24 | €330,384 | €247,087 | -€83,297 | -25.2% |
| Other tangible fixed assets | 26 | €68,311 | €49,411 | -€18,900 | -27.7% |
| Financial fixed assets | 28 | €770 | €770 | = | 0.0% |
| Current assets | 29/58 | €1,347,064 | €833,777 | -€513,287 | -38.1% |
| Amounts receivable within one year | 40/41 | €540,726 | €491,393 | -€49,332 | -9.1% |
| Trade receivables | 40 | €250,108 | €236,656 | -€13,453 | -5.4% |
| Other amounts receivable | 41 | €290,617 | €254,738 | -€35,879 | -12.3% |
| Current investments | 50/53 | €541,726 | - | -€541,726 | |
| Cash at bank and in hand | 54/58 | €253,606 | €331,681 | +€78,076 | +30.8% |
| Deferred charges and accrued income | 490/1 | €11,007 | €10,703 | -€305 | -2.8% |
| Total equity and liabilities | 10/49 | €1,917,055 | €1,778,730 | -€138,325 | -7.2% |
| Equity | 10/15 | €423,633 | €430,815 | +€7,183 | +1.7% |
| Contributions | 10/11 | €1,518 | €1,518 | = | 0.0% |
| Reserves | 13 | €309,045 | €316,225 | +€7,180 | +2.3% |
| Distributable reserves | 133 | €309,045 | €316,225 | +€7,180 | +2.3% |
| Profit (loss) carried forward | 14 | €113,069 | €113,072 | +€3 | 0.0% |
| Amounts payable | 17/49 | €1,493,423 | €1,347,915 | -€145,508 | -9.7% |
| Amounts payable after more than one year | 17 | €954,981 | €859,859 | -€95,122 | -10.0% |
| Financial debts | 170/4 | €954,981 | €859,859 | -€95,122 | -10.0% |
| Amounts payable within one year | 42/48 | €538,442 | €488,056 | -€50,386 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €96,082 | €95,122 | -€960 | -1.0% |
| Trade debts | 44 | €210,731 | €205,471 | -€5,259 | -2.5% |
| Suppliers | 440/4 | €210,731 | €205,471 | -€5,259 | -2.5% |
| Advances received on contracts in progress | 46 | - | €167 | +€167 | |
| Taxes, remuneration and social security | 45 | €114,081 | €184,438 | +€70,356 | +61.7% |
| Taxes | 450/3 | €14,299 | €46,230 | +€31,931 | +223.3% |
| Remuneration and social security | 454/9 | €99,782 | €138,208 | +€38,425 | +38.5% |
| Other amounts payable | 47/48 | €117,548 | €2,858 | -€114,690 | -97.6% |
| Remuneration, social security and pensions | 62 | €846,007 | €961,868 | +€115,861 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,463 | €144,920 | +€33,458 | +30.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,697 | +€17,697 | |
| Other operating charges | 640/8 | €15,156 | €12,507 | -€2,649 | -17.5% |
| Gross operating margin | 9900 | €1,003,028 | €1,055,550 | +€52,522 | +5.2% |
| Operating profit (loss) | 9901 | €30,402 | -€81,442 | -€111,844 | |
| Financial income | 75/76B | €34,816 | €141,872 | +€107,056 | +307.5% |
| Recurring financial income | 75 | €34,816 | €141,872 | +€107,056 | +307.5% |
| Financial charges | 65/66B | €36,450 | €40,993 | +€4,543 | +12.5% |
| Recurring financial charges | 65 | €33,122 | €30,531 | -€2,591 | -7.8% |
| Non-recurring financial charges | 66B | €3,328 | €10,462 | +€7,134 | +214.4% |
| Profit (loss) for the period before taxes | 9903 | €28,768 | €19,436 | -€9,332 | -32.4% |
| Income taxes | 67/77 | €13,642 | €12,254 | -€1,388 | -10.2% |
| Profit (loss) for the period | 9904 | €15,126 | €7,183 | -€7,944 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,126 | €7,183 | -€7,944 | -52.5% |
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 2 October 2026 via checked.be.