ENBECON: what changed
ENBECON
Largest movements
- Cash +€16,230
up €16,230 (+92.6%), from €17,520 to €33,750
mainly Net result for the year (+€32,192) and Other debts (+€18,592)
- Tangible fixed assets -€15,424
down €15,424 (-5.7%), from €272,700 to €257,276
of which Land and buildings: -€11,007
- Receivables within one year -€14,134
down €14,134 (-44.4%), from €31,821 to €17,687
of which Other amounts receivable: -€14,737
- Debts after one year -€25,273
down €25,273 (-16.5%), from €152,814 to €127,541
- Other debts +€18,592
up €18,592 (+66.4%), from €28,000 to €46,592
- Trade debts -€13,329
down €13,329 (-83.5%), from €15,966 to €2,637
- Reserves +€11,300
up €11,300 (+15.8%), from €71,560 to €82,860
- Tax, wage and social debts -€3,547
down €3,547 (-17.2%), from €20,597 to €17,050
of which Taxes: -€3,587
- Gross operating margin +€6,446
up €6,446 (+9.3%), from €69,041 to €75,487
- Depreciation -€4,561
down €4,561 (-20.1%), from €22,735 to €18,174
- Taxes +€2,794
up €2,794 (+17.5%), from €15,955 to €18,749
- Financial charges -€841
down €841 (-14.6%), from €5,765 to €4,924
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 | €323,029 | €309,701 | -€13,328 | -4.1% |
| Fixed assets | 21/28 | €272,725 | €257,301 | -€15,424 | -5.7% |
| Tangible fixed assets | 22/27 | €272,700 | €257,276 | -€15,424 | -5.7% |
| Land and buildings | 22 | €229,164 | €218,157 | -€11,007 | -4.8% |
| Plant, machinery and equipment | 23 | €43,536 | €39,119 | -€4,417 | -10.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €50,304 | €52,400 | +€2,096 | +4.2% |
| Amounts receivable within one year | 40/41 | €31,821 | €17,687 | -€14,134 | -44.4% |
| Trade receivables | 40 | €16,874 | €17,477 | +€603 | +3.6% |
| Other amounts receivable | 41 | €14,948 | €210 | -€14,737 | -98.6% |
| Cash at bank and in hand | 54/58 | €17,520 | €33,750 | +€16,230 | +92.6% |
| Deferred charges and accrued income | 490/1 | €963 | €963 | = | 0.0% |
| Total equity and liabilities | 10/49 | €323,029 | €309,701 | -€13,328 | -4.1% |
| Equity | 10/15 | €79,216 | €90,608 | +€11,392 | +14.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,560 | €82,860 | +€11,300 | +15.8% |
| Distributable reserves | 133 | €71,560 | €82,860 | +€11,300 | +15.8% |
| Profit (loss) carried forward | 14 | €1,456 | €1,548 | +€92 | +6.3% |
| Amounts payable | 17/49 | €243,813 | €219,093 | -€24,720 | -10.1% |
| Amounts payable after more than one year | 17 | €152,814 | €127,541 | -€25,273 | -16.5% |
| Financial debts | 170/4 | €152,814 | €127,541 | -€25,273 | -16.5% |
| Amounts payable within one year | 42/48 | €90,999 | €91,551 | +€552 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €24,901 | €25,273 | +€372 | +1.5% |
| Financial debts | 43 | €572 | - | -€572 | |
| Credit institutions | 430/8 | €572 | - | -€572 | |
| Trade debts | 44 | €15,966 | €2,637 | -€13,329 | -83.5% |
| Suppliers | 440/4 | €15,966 | €2,637 | -€13,329 | -83.5% |
| Advances received on contracts in progress | 46 | €964 | - | -€964 | |
| Taxes, remuneration and social security | 45 | €20,597 | €17,050 | -€3,547 | -17.2% |
| Taxes | 450/3 | €17,224 | €13,638 | -€3,587 | -20.8% |
| Remuneration and social security | 454/9 | €3,372 | €3,412 | +€40 | +1.2% |
| Other amounts payable | 47/48 | €28,000 | €46,592 | +€18,592 | +66.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,735 | €18,174 | -€4,561 | -20.1% |
| Other operating charges | 640/8 | €1,220 | €1,448 | +€228 | +18.7% |
| Gross operating margin | 9900 | €69,041 | €75,487 | +€6,446 | +9.3% |
| Operating profit (loss) | 9901 | €45,087 | €55,865 | +€10,778 | +23.9% |
| Financial income | 75/76B | €3 | €0 | -€3 | -89.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -89.0% |
| Financial charges | 65/66B | €5,765 | €4,924 | -€841 | -14.6% |
| Recurring financial charges | 65 | €5,765 | €4,924 | -€841 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €39,324 | €50,941 | +€11,616 | +29.5% |
| Income taxes | 67/77 | €15,955 | €18,749 | +€2,794 | +17.5% |
| Profit (loss) for the period | 9904 | €23,369 | €32,192 | +€8,823 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,369 | €32,192 | +€8,823 | +37.8% |
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 3 November 2026 via checked.be.