En-vision: what changed
En-vision
Largest movements
- Financial fixed assets +€6.5m
up €6.5m (+491%), from €1.3m to €7.8m
- Cash +€237,091
up €237,091 (+36.5%), from €648,738 to €885,828
mainly Contributions, distributions and other (+€5.8m) and Net result for the year (+€680,422)
- Revaluation surpluses +€5.8m
new in 2025: €5.8m
- Reserves +€630,422
up €630,422 (+41.6%), from €1.5m to €2.1m
of which Distributable reserves: +€398,872
- Debts after one year +€177,063
up €177,063 (+146%), from €121,137 to €298,200
- Tax, wage and social debts +€125,978
up €125,978 (+171%), from €73,461 to €199,440
- Gross operating margin +€370,583
up €370,583 (+60.7%), from €610,887 to €981,470
- Taxes +€113,094
up €113,094 (+73.3%), from €154,184 to €267,278
- Financial charges +€26,260
up €26,260 (+412%), from €6,369 to €32,628
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,973,740 | €8,689,883 | +€6.7m | +340% |
| Fixed assets | 21/28 | €1,318,750 | €7,800,051 | +€6.5m | +491% |
| Financial fixed assets | 28 | €1,318,750 | €7,800,051 | +€6.5m | +491% |
| Current assets | 29/58 | €654,990 | €889,832 | +€234,842 | +35.9% |
| Amounts receivable within one year | 40/41 | €2,808 | €2,808 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,808 | €2,808 | = | 0.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €648,738 | €885,828 | +€237,091 | +36.5% |
| Deferred charges and accrued income | 490/1 | €3,444 | €1,196 | -€2,248 | -65.3% |
| Total equity and liabilities | 10/49 | €1,973,740 | €8,689,883 | +€6.7m | +340% |
| Equity | 10/15 | €1,565,006 | €8,016,296 | +€6.5m | +412% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €5,820,868 | +€5.8m | |
| Reserves | 13 | €1,515,006 | €2,145,428 | +€630,422 | +41.6% |
| Tax-exempt reserves | 132 | €631,500 | €863,050 | +€231,550 | +36.7% |
| Distributable reserves | 133 | €883,506 | €1,282,378 | +€398,872 | +45.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €408,734 | €673,588 | +€264,854 | +64.8% |
| Amounts payable after more than one year | 17 | €121,137 | €298,200 | +€177,063 | +146% |
| Financial debts | 170/4 | €121,137 | €298,200 | +€177,063 | +146% |
| Amounts payable within one year | 42/48 | €287,597 | €375,388 | +€87,791 | +30.5% |
| Current portion of amounts payable after more than one year | 42 | €205,377 | €174,928 | -€30,449 | -14.8% |
| Trade debts | 44 | €8,758 | €1,020 | -€7,738 | -88.4% |
| Suppliers | 440/4 | €8,758 | €1,020 | -€7,738 | -88.4% |
| Taxes, remuneration and social security | 45 | €73,461 | €199,440 | +€125,978 | +171% |
| Taxes | 450/3 | €73,461 | €199,440 | +€125,978 | +171% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | €610,887 | €981,470 | +€370,583 | +60.7% |
| Operating profit (loss) | 9901 | €609,779 | €980,328 | +€370,549 | +60.8% |
| Financial income | 75/76B | €6,774 | €0 | -€6,774 | -100% |
| Recurring financial income | 75 | €6,774 | €0 | -€6,774 | -100% |
| Financial charges | 65/66B | €6,369 | €32,628 | +€26,260 | +412% |
| Recurring financial charges | 65 | €6,369 | €32,628 | +€26,260 | +412% |
| Profit (loss) for the period before taxes | 9903 | €610,185 | €947,700 | +€337,515 | +55.3% |
| Income taxes | 67/77 | €154,184 | €267,278 | +€113,094 | +73.3% |
| Profit (loss) for the period | 9904 | €456,001 | €680,422 | +€224,421 | +49.2% |
| Transfer from tax-exempt reserves | 789 | - | €126,300 | +€126,300 | |
| Transfer to tax-exempt reserves | 689 | €210,500 | €357,850 | +€147,350 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €245,501 | €448,872 | +€203,371 | +82.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.