ENADVIS: 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.
ENADVIS
Largest movements
- Cash +€52,180
up €52,180 (+18.6%), from €280,248 to €332,429
mainly Trade debts (+€65,457) and Depreciation (+€53,408)
- Tangible fixed assets -€22,019
down €22,019 (-11.3%), from €195,374 to €173,354
of which Land and buildings: -€11,356
- Receivables within one year +€7,955
up €7,955 (+14.9%), from €53,458 to €61,413
of which Other amounts receivable: +€15,174
- Deferred charges and accrued income +€7,663
up €7,663 (+118%), from €6,520 to €14,182
- Trade debts +€65,457
up €65,457 (+1,007%), from €6,502 to €71,959
- Reserves +€18,332
up €18,332 (+8.3%), from €221,033 to €239,365
- Investment grants -€15,000
down €15,000 (-57.7%), from €25,989 to €10,989
- Debts after one year -€10,978
down €10,978 (-100%), from €10,978 to €0
- Accrued charges and deferred income -€10,774
down €10,774 (-18.2%), from €59,057 to €48,283
- Gross operating margin -€21,476
down €21,476 (-21.6%), from €99,618 to €78,142
- Taxes -€5,369
down €5,369 (-38.2%), from €14,068 to €8,699
- Other operating charges +€2,312
up €2,312 (+28.7%), from €8,044 to €10,355
- Depreciation +€1,248
up €1,248 (+2.4%), from €52,161 to €53,408
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 | €536,204 | €581,797 | +€45,594 | +8.5% |
| Fixed assets | 21/28 | €195,977 | €173,773 | -€22,204 | -11.3% |
| Intangible fixed assets | 21 | €604 | €419 | -€185 | -30.6% |
| Tangible fixed assets | 22/27 | €195,374 | €173,354 | -€22,019 | -11.3% |
| Land and buildings | 22 | €126,488 | €115,132 | -€11,356 | -9.0% |
| Plant, machinery and equipment | 23 | €67,588 | €57,358 | -€10,230 | -15.1% |
| Furniture and vehicles | 24 | €1,297 | €865 | -€433 | -33.4% |
| Current assets | 29/58 | €340,226 | €408,024 | +€67,798 | +19.9% |
| Amounts receivable within one year | 40/41 | €53,458 | €61,413 | +€7,955 | +14.9% |
| Trade receivables | 40 | €53,167 | €45,949 | -€7,219 | -13.6% |
| Other amounts receivable | 41 | €291 | €15,464 | +€15,174 | +5,219% |
| Cash at bank and in hand | 54/58 | €280,248 | €332,429 | +€52,180 | +18.6% |
| Deferred charges and accrued income | 490/1 | €6,520 | €14,182 | +€7,663 | +118% |
| Total equity and liabilities | 10/49 | €536,204 | €581,797 | +€45,594 | +8.5% |
| Equity | 10/15 | €324,877 | €328,209 | +€3,332 | +1.0% |
| Contributions | 10/11 | €77,854 | €77,854 | = | 0.0% |
| Reserves | 13 | €221,033 | €239,365 | +€18,332 | +8.3% |
| Distributable reserves | 133 | €221,033 | €239,365 | +€18,332 | +8.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €25,989 | €10,989 | -€15,000 | -57.7% |
| Provisions and deferred taxes | 16 | €8,663 | €3,663 | -€5,000 | -57.7% |
| Deferred taxes | 168 | €8,663 | €3,663 | -€5,000 | -57.7% |
| Amounts payable | 17/49 | €202,664 | €249,926 | +€47,262 | +23.3% |
| Amounts payable after more than one year | 17 | €10,978 | €0 | -€10,978 | -100% |
| Financial debts | 170/4 | €10,978 | €0 | -€10,978 | -100% |
| Amounts payable within one year | 42/48 | €132,629 | €201,643 | +€69,014 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €14,936 | €9,611 | -€5,325 | -35.7% |
| Trade debts | 44 | €6,502 | €71,959 | +€65,457 | +1,007% |
| Suppliers | 440/4 | €6,502 | €71,959 | +€65,457 | +1,007% |
| Taxes, remuneration and social security | 45 | €23,588 | €26,194 | +€2,606 | +11.0% |
| Taxes | 450/3 | €19,788 | €9,794 | -€9,995 | -50.5% |
| Remuneration and social security | 454/9 | €3,800 | €16,400 | +€12,600 | +332% |
| Other amounts payable | 47/48 | €87,603 | €93,879 | +€6,276 | +7.2% |
| Accrued charges and deferred income | 492/3 | €59,057 | €48,283 | -€10,774 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,161 | €53,408 | +€1,248 | +2.4% |
| Other operating charges | 640/8 | €8,044 | €10,355 | +€2,312 | +28.7% |
| Non-recurring operating charges | 66A | €2,239 | €0 | -€2,239 | -100% |
| Gross operating margin | 9900 | €99,618 | €78,142 | -€21,476 | -21.6% |
| Operating profit (loss) | 9901 | €37,175 | €14,378 | -€22,797 | -61.3% |
| Financial income | 75/76B | €15,464 | €15,785 | +€321 | +2.1% |
| Recurring financial income | 75 | €15,464 | €15,785 | +€321 | +2.1% |
| Financial charges | 65/66B | €7,018 | €6,744 | -€274 | -3.9% |
| Recurring financial charges | 65 | €7,018 | €6,744 | -€274 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €45,622 | €23,419 | -€22,203 | -48.7% |
| Transfer from deferred taxes | 780 | €5,000 | €5,000 | = | 0.0% |
| Income taxes | 67/77 | €14,068 | €8,699 | -€5,369 | -38.2% |
| Profit (loss) for the period | 9904 | €36,553 | €19,720 | -€16,833 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,553 | €19,720 | -€16,833 | -46.1% |
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 14 October 2026 via checked.be.