ENBACO: what changed
ENBACO
Largest movements
- Financial fixed assets +€420,922
up €420,922 (+121%), from €347,252 to €768,174
- Cash +€11,167
up €11,167 (+45.3%), from €24,656 to €35,823
mainly Debts after one year (+€304,536) and Net result for the year (+€60,989)
- Debts after one year +€304,536
up €304,536 (+140%), from €217,718 to €522,255
- Current portion of long-term debt +€56,360
up €56,360 (+134%), from €41,963 to €98,323
- Profit (loss) carried forward +€50,989
up €50,989 (+59.9%), from €85,185 to €136,174
- Tax, wage and social debts +€13,898
up €13,898 (+62.4%), from €22,268 to €36,166
- Gross operating margin +€29,156
up €29,156 (+47.2%), from €61,726 to €90,882
- Taxes +€3,436
up €3,436 (+19.9%), from €17,287 to €20,723
- Financial charges +€3,423
up €3,423 (+59.6%), from €5,747 to €9,170
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €377,575 | €803,997 | +€426,423 | +113% |
| Fixed assets | 21/28 | €347,252 | €768,174 | +€420,922 | +121% |
| Financial fixed assets | 28 | €347,252 | €768,174 | +€420,922 | +121% |
| Current assets | 29/58 | €30,323 | €35,823 | +€5,501 | +18.1% |
| Amounts receivable within one year | 40/41 | €5,667 | €0 | -€5,667 | -100% |
| Trade receivables | 40 | €2,021 | €0 | -€2,021 | -100% |
| Other amounts receivable | 41 | €3,646 | €0 | -€3,646 | -100% |
| Cash at bank and in hand | 54/58 | €24,656 | €35,823 | +€11,167 | +45.3% |
| Total equity and liabilities | 10/49 | €377,575 | €803,997 | +€426,423 | +113% |
| Equity | 10/15 | €95,185 | €146,174 | +€50,989 | +53.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,185 | €136,174 | +€50,989 | +59.9% |
| Amounts payable | 17/49 | €282,390 | €657,823 | +€375,433 | +133% |
| Amounts payable after more than one year | 17 | €217,718 | €522,255 | +€304,536 | +140% |
| Financial debts | 170/4 | €217,718 | €522,255 | +€304,536 | +140% |
| Amounts payable within one year | 42/48 | €64,672 | €135,569 | +€70,897 | +110% |
| Current portion of amounts payable after more than one year | 42 | €41,963 | €98,323 | +€56,360 | +134% |
| Trade debts | 44 | €441 | €635 | +€194 | +44.0% |
| Suppliers | 440/4 | €441 | €635 | +€194 | +44.0% |
| Taxes, remuneration and social security | 45 | €22,268 | €36,166 | +€13,898 | +62.4% |
| Taxes | 450/3 | €22,268 | €36,166 | +€13,898 | +62.4% |
| Other amounts payable | 47/48 | - | €445 | +€445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Gross operating margin | 9900 | €61,726 | €90,882 | +€29,156 | +47.2% |
| Operating profit (loss) | 9901 | €61,726 | €90,882 | +€29,156 | +47.2% |
| Financial charges | 65/66B | €5,747 | €9,170 | +€3,423 | +59.6% |
| Recurring financial charges | 65 | €5,747 | €9,170 | +€3,423 | +59.6% |
| Profit (loss) for the period before taxes | 9903 | €55,978 | €81,712 | +€25,734 | +46.0% |
| Income taxes | 67/77 | €17,287 | €20,723 | +€3,436 | +19.9% |
| Profit (loss) for the period | 9904 | €38,691 | €60,989 | +€22,298 | +57.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,691 | €60,989 | +€22,298 | +57.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.