ENAXOR CONSEILS: 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.
ENAXOR CONSEILS
Largest movements
- Financial fixed assets +€365,971
up €365,971 (+120%), from €304,029 to €670,000
- Tangible fixed assets +€275,720
up €275,720 (+88.4%), from €312,072 to €587,792
of which Land and buildings: +€300,226
- Receivables after one year +€20,729
up €20,729 (+251%), from €8,271 to €29,000
- Debts after one year +€450,408
up €450,408 (+158%), from €285,188 to €735,597
- Reserves +€73,040
up €73,040 (+31.8%), from €229,714 to €302,754
of which Distributable reserves: +€73,040
- Current portion of long-term debt +€70,947
up €70,947 (+286%), from €24,848 to €95,794
- Other debts +€46,744
up €46,744 (+334%), from €14,000 to €60,744
- Financial income +€103,182
up €103,182 (+84,409%), from €122 to €103,304
of which Non-recurring financial income: +€103,195
- Gross operating margin +€24,360
up €24,360 (+23.8%), from €102,406 to €126,767
- Depreciation +€23,388
up €23,388 (+99.2%), from €23,585 to €46,974
- Financial charges +€11,838
up €11,838 (+197%), from €6,010 to €17,847
- Taxes +€4,125
up €4,125 (+16.8%), from €24,581 to €28,706
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 | €644,422 | €1,294,267 | +€649,845 | +101% |
| Fixed assets | 21/28 | €616,101 | €1,257,792 | +€641,691 | +104% |
| Tangible fixed assets | 22/27 | €312,072 | €587,792 | +€275,720 | +88.4% |
| Land and buildings | 22 | €287,566 | €587,792 | +€300,226 | +104% |
| Leasing and similar rights | 25 | €24,506 | - | -€24,506 | |
| Financial fixed assets | 28 | €304,029 | €670,000 | +€365,971 | +120% |
| Current assets | 29/58 | €28,321 | €36,475 | +€8,154 | +28.8% |
| Amounts receivable after more than one year | 29 | €8,271 | €29,000 | +€20,729 | +251% |
| Other amounts receivable | 291 | €8,271 | €29,000 | +€20,729 | +251% |
| Amounts receivable within one year | 40/41 | €1,249 | €419 | -€830 | -66.4% |
| Other amounts receivable | 41 | €1,249 | €419 | -€830 | -66.4% |
| Cash at bank and in hand | 54/58 | €18,023 | €7,056 | -€10,967 | -60.9% |
| Deferred charges and accrued income | 490/1 | €778 | - | -€778 | |
| Total equity and liabilities | 10/49 | €644,422 | €1,294,267 | +€649,845 | +101% |
| Equity | 10/15 | €317,983 | €391,023 | +€73,040 | +23.0% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €229,714 | €302,754 | +€73,040 | +31.8% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €222,214 | €295,254 | +€73,040 | +32.9% |
| Profit (loss) carried forward | 14 | -€1,731 | -€1,731 | = | 0.0% |
| Amounts payable | 17/49 | €326,439 | €903,244 | +€576,805 | +177% |
| Amounts payable after more than one year | 17 | €285,188 | €735,597 | +€450,408 | +158% |
| Financial debts | 170/4 | €285,188 | €735,597 | +€450,408 | +158% |
| Amounts payable within one year | 42/48 | €41,250 | €167,647 | +€126,397 | +306% |
| Current portion of amounts payable after more than one year | 42 | €24,848 | €95,794 | +€70,947 | +286% |
| Taxes, remuneration and social security | 45 | €2,403 | €11,109 | +€8,706 | +362% |
| Taxes | 450/3 | €2,403 | €11,109 | +€8,706 | +362% |
| Other amounts payable | 47/48 | €14,000 | €60,744 | +€46,744 | +334% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,585 | €46,974 | +€23,388 | +99.2% |
| Other operating charges | 640/8 | €3,635 | €5,505 | +€1,869 | +51.4% |
| Gross operating margin | 9900 | €102,406 | €126,767 | +€24,360 | +23.8% |
| Operating profit (loss) | 9901 | €75,186 | €74,289 | -€898 | -1.2% |
| Financial income | 75/76B | €122 | €103,304 | +€103,182 | +84,409% |
| Recurring financial income | 75 | €122 | €110 | -€13 | -10.3% |
| Non-recurring financial income | 76B | - | €103,195 | +€103,195 | |
| Financial charges | 65/66B | €6,010 | €17,847 | +€11,838 | +197% |
| Recurring financial charges | 65 | €6,010 | €17,847 | +€11,838 | +197% |
| Profit (loss) for the period before taxes | 9903 | €69,299 | €159,746 | +€90,447 | +131% |
| Income taxes | 67/77 | €24,581 | €28,706 | +€4,125 | +16.8% |
| Profit (loss) for the period | 9904 | €44,718 | €131,040 | +€86,322 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €44,718 | €131,040 | +€86,322 | +193% |
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 28 October 2026 via checked.be.