ENAVS: 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.
ENAVS
Largest movements
- Tangible fixed assets -€3,452
no longer reported in 2025 (was €3,452)
- Receivables within one year -€2,873
down €2,873 (-11.7%), from €24,477 to €21,604
of which Trade receivables: -€3,634
- Cash -€882
down €882 (-16.1%), from €5,483 to €4,601
mainly Trade debts (-€7,462) and Other debts (-€5,568)
- Trade debts -€7,462
down €7,462 (-78.3%), from €9,534 to €2,071
- Profit (loss) carried forward +€6,491
up €6,491 (+46.0%), from -€14,113 to -€7,622
- Other debts -€5,568
down €5,568 (-32.1%), from €17,323 to €11,755
- Tax, wage and social debts -€668
no longer reported in 2025 (was €668)
- Depreciation -€8,214
down €8,214 (-70.4%), from €11,666 to €3,452
- Gross operating margin -€2,812
down €2,812 (-20.8%), from €13,520 to €10,708
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 | €33,412 | €26,205 | -€7,208 | -21.6% |
| Fixed assets | 21/28 | €3,452 | - | -€3,452 | |
| Tangible fixed assets | 22/27 | €3,452 | - | -€3,452 | |
| Furniture and vehicles | 24 | €3,452 | - | -€3,452 | |
| Current assets | 29/58 | €29,960 | €26,205 | -€3,756 | -12.5% |
| Amounts receivable within one year | 40/41 | €24,477 | €21,604 | -€2,873 | -11.7% |
| Trade receivables | 40 | €24,477 | €20,844 | -€3,634 | -14.8% |
| Other amounts receivable | 41 | - | €760 | +€760 | |
| Cash at bank and in hand | 54/58 | €5,483 | €4,601 | -€882 | -16.1% |
| Total equity and liabilities | 10/49 | €33,412 | €26,205 | -€7,208 | -21.6% |
| Equity | 10/15 | €5,887 | €12,378 | +€6,491 | +110% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,113 | -€7,622 | +€6,491 | +46.0% |
| Amounts payable | 17/49 | €27,525 | €13,827 | -€13,699 | -49.8% |
| Amounts payable within one year | 42/48 | €27,525 | €13,827 | -€13,699 | -49.8% |
| Trade debts | 44 | €9,534 | €2,071 | -€7,462 | -78.3% |
| Suppliers | 440/4 | €9,534 | €2,071 | -€7,462 | -78.3% |
| Taxes, remuneration and social security | 45 | €668 | - | -€668 | |
| Taxes | 450/3 | €668 | - | -€668 | |
| Other amounts payable | 47/48 | €17,323 | €11,755 | -€5,568 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,666 | €3,452 | -€8,214 | -70.4% |
| Other operating charges | 640/8 | €387 | €483 | +€96 | +24.7% |
| Gross operating margin | 9900 | €13,520 | €10,708 | -€2,812 | -20.8% |
| Operating profit (loss) | 9901 | €1,466 | €6,773 | +€5,306 | +362% |
| Financial charges | 65/66B | €217 | €282 | +€65 | +29.8% |
| Recurring financial charges | 65 | €217 | €282 | +€65 | +29.8% |
| Profit (loss) for the period before taxes | 9903 | €1,249 | €6,491 | +€5,242 | +420% |
| Income taxes | 67/77 | €5 | - | -€5 | |
| Profit (loss) for the period | 9904 | €1,244 | €6,491 | +€5,247 | +422% |
| Profit (loss) for the period to be appropriated | 9905 | €1,244 | €6,491 | +€5,247 | +422% |
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 25 October 2026 via checked.be.