En-Way: 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.
En-Way
Largest movements
- Tangible fixed assets +€151,490
up €151,490 (+164%), from €92,181 to €243,672
of which Land and buildings: +€169,006
- Receivables within one year -€17,934
down €17,934 (-43.7%), from €41,009 to €23,075
of which Trade receivables: -€23,715
- Cash +€7,882
up €7,882 (+22.0%), from €35,861 to €43,744
mainly Debts after one year (+€138,291) and Net result for the year (+€28,327)
- Stocks and contracts +€7,099
up €7,099 (+86.3%), from €8,227 to €15,326
- Current investments +€6,148
up €6,148 (+14.6%), from €42,086 to €48,234
- Debts after one year +€138,291
up €138,291 (+392%), from €35,284 to €173,575
- Reserves +€28,327
up €28,327 (+19.4%), from €145,971 to €174,298
- Trade debts -€9,584
down €9,584 (-45.7%), from €20,969 to €11,384
- Tax, wage and social debts -€6,988
down €6,988 (-50.5%), from €13,843 to €6,856
- Current portion of long-term debt +€5,677
up €5,677 (+51.5%), from €11,032 to €16,709
- Gross operating margin +€41,567
up €41,567 (+76.0%), from €54,720 to €96,288
- Depreciation -€6,936
down €6,936 (-21.1%), from €32,913 to €25,976
- Taxes +€6,654
up €6,654 (+121%), from €5,518 to €12,173
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 | €245,216 | €397,141 | +€151,926 | +62.0% |
| Fixed assets | 21/28 | €112,181 | €263,672 | +€151,490 | +135% |
| Tangible fixed assets | 22/27 | €92,181 | €243,672 | +€151,490 | +164% |
| Land and buildings | 22 | €14,523 | €183,529 | +€169,006 | +1,164% |
| Plant, machinery and equipment | 23 | €8,485 | €3,262 | -€5,223 | -61.6% |
| Furniture and vehicles | 24 | €37,885 | €30,573 | -€7,312 | -19.3% |
| Other tangible fixed assets | 26 | €31,288 | €26,308 | -€4,980 | -15.9% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €133,034 | €133,470 | +€435 | +0.3% |
| Stocks and contracts in progress | 3 | €8,227 | €15,326 | +€7,099 | +86.3% |
| Stocks | 30/36 | €8,227 | €15,326 | +€7,099 | +86.3% |
| Amounts receivable within one year | 40/41 | €41,009 | €23,075 | -€17,934 | -43.7% |
| Trade receivables | 40 | €36,302 | €12,587 | -€23,715 | -65.3% |
| Other amounts receivable | 41 | €4,707 | €10,489 | +€5,782 | +123% |
| Current investments | 50/53 | €42,086 | €48,234 | +€6,148 | +14.6% |
| Cash at bank and in hand | 54/58 | €35,861 | €43,744 | +€7,882 | +22.0% |
| Deferred charges and accrued income | 490/1 | €5,852 | €3,091 | -€2,761 | -47.2% |
| Total equity and liabilities | 10/49 | €245,216 | €397,141 | +€151,926 | +62.0% |
| Equity | 10/15 | €152,171 | €180,498 | +€28,327 | +18.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €145,971 | €174,298 | +€28,327 | +19.4% |
| Distributable reserves | 133 | €145,971 | €174,298 | +€28,327 | +19.4% |
| Amounts payable | 17/49 | €93,044 | €216,644 | +€123,599 | +133% |
| Amounts payable after more than one year | 17 | €35,284 | €173,575 | +€138,291 | +392% |
| Financial debts | 170/4 | €35,284 | €173,575 | +€138,291 | +392% |
| Amounts payable within one year | 42/48 | €57,760 | €42,219 | -€15,542 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €11,032 | €16,709 | +€5,677 | +51.5% |
| Trade debts | 44 | €20,969 | €11,384 | -€9,584 | -45.7% |
| Suppliers | 440/4 | €20,969 | €11,384 | -€9,584 | -45.7% |
| Taxes, remuneration and social security | 45 | €13,843 | €6,856 | -€6,988 | -50.5% |
| Taxes | 450/3 | €13,843 | €6,856 | -€6,988 | -50.5% |
| Other amounts payable | 47/48 | €11,916 | €7,270 | -€4,646 | -39.0% |
| Accrued charges and deferred income | 492/3 | - | €850 | +€850 | |
| Remuneration, social security and pensions | 62 | €1,237 | €2,094 | +€857 | +69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,913 | €25,976 | -€6,936 | -21.1% |
| Other operating charges | 640/8 | €1,617 | €1,991 | +€374 | +23.2% |
| Non-recurring operating charges | 66A | - | €22,981 | +€22,981 | |
| Gross operating margin | 9900 | €54,720 | €96,288 | +€41,567 | +76.0% |
| Operating profit (loss) | 9901 | €18,954 | €43,246 | +€24,292 | +128% |
| Financial income | 75/76B | €911 | €191 | -€720 | -79.1% |
| Recurring financial income | 75 | €911 | €191 | -€720 | -79.1% |
| Financial charges | 65/66B | €1,988 | €2,937 | +€949 | +47.7% |
| Recurring financial charges | 65 | €1,988 | €2,937 | +€949 | +47.7% |
| Profit (loss) for the period before taxes | 9903 | €17,877 | €40,499 | +€22,622 | +127% |
| Income taxes | 67/77 | €5,518 | €12,173 | +€6,654 | +121% |
| Profit (loss) for the period | 9904 | €12,359 | €28,327 | +€15,968 | +129% |
| Profit (loss) for the period to be appropriated | 9905 | €12,359 | €28,327 | +€15,968 | +129% |
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 15 October 2026 via checked.be.