ENBA: 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.
ENBA
Largest movements
- Cash +€147,342
up €147,342 (+30.9%), from €476,631 to €623,973
mainly Net result for the year (+€103,367) and Depreciation (+€57,174)
- Tangible fixed assets -€49,805
down €49,805 (-11.6%), from €429,962 to €380,157
of which Land and buildings: -€47,130
- Deferred charges and accrued income +€19,479
up €19,479 (+14.4%), from €135,245 to €154,723
- Stocks and contracts +€18,951
up €18,951 (+6.8%), from €280,559 to €299,510
- Reserves +€103,367
up €103,367 (+61.2%), from €169,004 to €272,371
- Gross operating margin +€99,821
up €99,821 (+23.3%), from €428,588 to €528,409
- Staff costs +€66,920
up €66,920 (+29.6%), from €225,878 to €292,798
- Taxes +€11,525
up €11,525 (+27.7%), from €41,543 to €53,067
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.
Cash bridge derived
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 | €1,351,899 | €1,479,302 | +€127,403 | +9.4% |
| Fixed assets | 21/28 | €434,962 | €385,157 | -€49,805 | -11.5% |
| Tangible fixed assets | 22/27 | €429,962 | €380,157 | -€49,805 | -11.6% |
| Land and buildings | 22 | €411,887 | €364,757 | -€47,130 | -11.4% |
| Plant, machinery and equipment | 23 | €7,160 | €4,696 | -€2,465 | -34.4% |
| Furniture and vehicles | 24 | €4,537 | €6,848 | +€2,311 | +50.9% |
| Other tangible fixed assets | 26 | €6,377 | €3,856 | -€2,521 | -39.5% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €916,938 | €1,094,146 | +€177,208 | +19.3% |
| Stocks and contracts in progress | 3 | €280,559 | €299,510 | +€18,951 | +6.8% |
| Stocks | 30/36 | €280,559 | €299,510 | +€18,951 | +6.8% |
| Amounts receivable within one year | 40/41 | €24,440 | €15,878 | -€8,562 | -35.0% |
| Trade receivables | 40 | €17,440 | €15,878 | -€1,562 | -9.0% |
| Other amounts receivable | 41 | €7,000 | - | -€7,000 | |
| Current investments | 50/53 | €63 | €61 | -€2 | -2.6% |
| Cash at bank and in hand | 54/58 | €476,631 | €623,973 | +€147,342 | +30.9% |
| Deferred charges and accrued income | 490/1 | €135,245 | €154,723 | +€19,479 | +14.4% |
| Total equity and liabilities | 10/49 | €1,351,899 | €1,479,302 | +€127,403 | +9.4% |
| Equity | 10/15 | €720,908 | €824,275 | +€103,367 | +14.3% |
| Contributions | 10/11 | €551,904 | €551,904 | = | 0.0% |
| Reserves | 13 | €169,004 | €272,371 | +€103,367 | +61.2% |
| Distributable reserves | 133 | €169,004 | €272,371 | +€103,367 | +61.2% |
| Amounts payable | 17/49 | €630,991 | €655,027 | +€24,036 | +3.8% |
| Amounts payable after more than one year | 17 | €500,000 | €500,000 | = | 0.0% |
| Financial debts | 170/4 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €130,991 | €155,027 | +€24,036 | +18.3% |
| Trade debts | 44 | €96,301 | €109,115 | +€12,813 | +13.3% |
| Suppliers | 440/4 | €96,301 | €109,115 | +€12,813 | +13.3% |
| Taxes, remuneration and social security | 45 | €33,133 | €43,519 | +€10,386 | +31.3% |
| Taxes | 450/3 | €9,539 | €12,459 | +€2,921 | +30.6% |
| Remuneration and social security | 454/9 | €23,594 | €31,059 | +€7,466 | +31.6% |
| Other amounts payable | 47/48 | €1,557 | €2,394 | +€837 | +53.7% |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €225,878 | €292,798 | +€66,920 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,605 | €57,174 | +€4,569 | +8.7% |
| Other operating charges | 640/8 | €1,945 | €1,627 | -€318 | -16.4% |
| Gross operating margin | 9900 | €428,588 | €528,409 | +€99,821 | +23.3% |
| Operating profit (loss) | 9901 | €148,159 | €176,809 | +€28,650 | +19.3% |
| Financial income | 75/76B | €2,130 | €1,733 | -€397 | -18.6% |
| Recurring financial income | 75 | €2,130 | €1,733 | -€397 | -18.6% |
| Financial charges | 65/66B | €24,480 | €22,108 | -€2,372 | -9.7% |
| Recurring financial charges | 65 | €24,480 | €22,108 | -€2,372 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €125,809 | €156,434 | +€30,625 | +24.3% |
| Income taxes | 67/77 | €41,543 | €53,067 | +€11,525 | +27.7% |
| Profit (loss) for the period | 9904 | €84,266 | €103,367 | +€19,100 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,266 | €103,367 | +€19,100 | +22.7% |
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 10 October 2026 via checked.be.