ENAMEL: 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.
ENAMEL
Largest movements
- Cash +€66,871
up €66,871 (+25.3%), from €264,631 to €331,502
mainly Other debts (+€324,334) and Net result for the year (+€75,665)
- Deferred charges and accrued income -€6,515
down €6,515 (-51.2%), from €12,734 to €6,219
- Other debts +€324,334
up €324,334 (+7,988,521%), from €4 to €324,338
- Profit (loss) carried forward -€248,668
down €248,668 (-97.9%), from €254,105 to €5,437
- Tax, wage and social debts -€19,431
down €19,431 (-78.0%), from €24,927 to €5,496
- Gross operating margin -€17,551
down €17,551 (-14.5%), from €121,368 to €103,817
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 | €280,536 | €338,439 | +€57,903 | +20.6% |
| Fixed assets | 21/28 | €3,170 | €718 | -€2,452 | -77.3% |
| Tangible fixed assets | 22/27 | €3,170 | €718 | -€2,452 | -77.3% |
| Plant, machinery and equipment | 23 | €3,170 | €718 | -€2,452 | -77.3% |
| Current assets | 29/58 | €277,366 | €337,721 | +€60,355 | +21.8% |
| Cash at bank and in hand | 54/58 | €264,631 | €331,502 | +€66,871 | +25.3% |
| Deferred charges and accrued income | 490/1 | €12,734 | €6,219 | -€6,515 | -51.2% |
| Total equity and liabilities | 10/49 | €280,536 | €338,439 | +€57,903 | +20.6% |
| Equity | 10/15 | €255,605 | €6,937 | -€248,668 | -97.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,105 | €5,437 | -€248,668 | -97.9% |
| Amounts payable | 17/49 | €24,931 | €331,502 | +€306,571 | +1,230% |
| Amounts payable within one year | 42/48 | €24,931 | €331,502 | +€306,571 | +1,230% |
| Trade debts | 44 | - | €1,668 | +€1,668 | |
| Suppliers | 440/4 | - | €1,668 | +€1,668 | |
| Taxes, remuneration and social security | 45 | €24,927 | €5,496 | -€19,431 | -78.0% |
| Taxes | 450/3 | €24,927 | €5,496 | -€19,431 | -78.0% |
| Other amounts payable | 47/48 | €4 | €324,338 | +€324,334 | +7,988,521% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,773 | €2,452 | -€321 | -11.6% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €121,368 | €103,817 | -€17,551 | -14.5% |
| Operating profit (loss) | 9901 | €118,596 | €100,965 | -€17,631 | -14.9% |
| Financial charges | 65/66B | €64 | €45 | -€19 | -29.1% |
| Recurring financial charges | 65 | €64 | €45 | -€19 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €118,532 | €100,920 | -€17,612 | -14.9% |
| Income taxes | 67/77 | €24,660 | €25,255 | +€595 | +2.4% |
| Profit (loss) for the period | 9904 | €93,872 | €75,665 | -€18,207 | -19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €93,872 | €75,665 | -€18,207 | -19.4% |
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.