ENAH: 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.
ENAH
Largest movements
- Cash -€17,762
down €17,762 (-86.0%), from €20,647 to €2,885
mainly Net result for the year (-€7,631) and Debts after one year (-€6,269)
- Intangible fixed assets -€4,500
down €4,500 (-15.4%), from €29,305 to €24,805
- Receivables within one year +€2,435
up €2,435 (+73.9%), from €3,295 to €5,730
of which Trade receivables: +€4,025
- Tangible fixed assets -€1,076
down €1,076 (-23.2%), from €4,633 to €3,558
of which Other tangible fixed assets: -€1,259
- Profit (loss) carried forward -€7,631
new in 2025: -€7,631
- Debts after one year -€6,269
no longer reported in 2025 (was €6,269)
- Current portion of long-term debt -€6,085
down €6,085 (-49.3%), from €12,354 to €6,269
- Reserves -€3,529
down €3,529 (-19.5%), from €18,071 to €14,541
- Tax, wage and social debts +€2,684
up €2,684 (+47.3%), from €5,678 to €8,362
of which Remuneration and social security: +€3,859
- Staff costs +€20,389
up €20,389 (+262%), from €7,775 to €28,164
- Gross operating margin +€6,789
up €6,789 (+24.5%), from €27,730 to €34,519
- Taxes -€2,494
no longer reported in 2025 (was €2,494)
- Financial charges +€610
up €610 (+85.0%), from €718 to €1,328
- Depreciation +€457
up €457 (+7.0%), from €6,519 to €6,975
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 | €57,881 | €37,370 | -€20,511 | -35.4% |
| Fixed assets | 21/28 | €33,939 | €28,363 | -€5,576 | -16.4% |
| Intangible fixed assets | 21 | €29,305 | €24,805 | -€4,500 | -15.4% |
| Tangible fixed assets | 22/27 | €4,633 | €3,558 | -€1,076 | -23.2% |
| Plant, machinery and equipment | 23 | €1,068 | €1,251 | +€183 | +17.1% |
| Other tangible fixed assets | 26 | €3,566 | €2,307 | -€1,259 | -35.3% |
| Current assets | 29/58 | €23,942 | €9,007 | -€14,935 | -62.4% |
| Amounts receivable within one year | 40/41 | €3,295 | €5,730 | +€2,435 | +73.9% |
| Trade receivables | 40 | €1,571 | €5,596 | +€4,025 | +256% |
| Other amounts receivable | 41 | €1,724 | €134 | -€1,590 | -92.2% |
| Cash at bank and in hand | 54/58 | €20,647 | €2,885 | -€17,762 | -86.0% |
| Deferred charges and accrued income | 490/1 | - | €392 | +€392 | |
| Total equity and liabilities | 10/49 | €57,881 | €37,370 | -€20,511 | -35.4% |
| Equity | 10/15 | €33,071 | €21,910 | -€11,161 | -33.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €18,071 | €14,541 | -€3,529 | -19.5% |
| Distributable reserves | 133 | €18,071 | €14,541 | -€3,529 | -19.5% |
| Profit (loss) carried forward | 14 | - | -€7,631 | -€7,631 | |
| Amounts payable | 17/49 | €24,810 | €15,460 | -€9,350 | -37.7% |
| Amounts payable after more than one year | 17 | €6,269 | - | -€6,269 | |
| Financial debts | 170/4 | €6,269 | - | -€6,269 | |
| Amounts payable within one year | 42/48 | €18,541 | €15,460 | -€3,081 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €12,354 | €6,269 | -€6,085 | -49.3% |
| Trade debts | 44 | €509 | €829 | +€320 | +62.9% |
| Suppliers | 440/4 | €509 | €829 | +€320 | +62.9% |
| Taxes, remuneration and social security | 45 | €5,678 | €8,362 | +€2,684 | +47.3% |
| Taxes | 450/3 | €5,015 | €3,841 | -€1,175 | -23.4% |
| Remuneration and social security | 454/9 | €663 | €4,521 | +€3,859 | +582% |
| Remuneration, social security and pensions | 62 | €7,775 | €28,164 | +€20,389 | +262% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,519 | €6,975 | +€457 | +7.0% |
| Other operating charges | 640/8 | €513 | €952 | +€438 | +85.4% |
| Non-recurring operating charges | 66A | - | €4,871 | +€4,871 | |
| Gross operating margin | 9900 | €27,730 | €34,519 | +€6,789 | +24.5% |
| Operating profit (loss) | 9901 | €12,924 | -€6,443 | -€19,367 | |
| Financial income | 75/76B | - | €139 | +€139 | |
| Recurring financial income | 75 | - | €139 | +€139 | |
| Financial charges | 65/66B | €718 | €1,328 | +€610 | +85.0% |
| Recurring financial charges | 65 | €718 | €1,328 | +€610 | +85.0% |
| Profit (loss) for the period before taxes | 9903 | €12,206 | -€7,631 | -€19,838 | |
| Income taxes | 67/77 | €2,494 | - | -€2,494 | |
| Profit (loss) for the period | 9904 | €9,712 | -€7,631 | -€17,344 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,712 | -€7,631 | -€17,344 |
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.