ENCLAVE: what changed
Two fiscal 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.
ENCLAVE
Largest movements
- Tangible fixed assets -€21,838
down €21,838 (-4.3%), from €512,989 to €491,151
- Other debts +€23,927
up €23,927 (+40.0%), from €59,780 to €83,708
- Trade debts -€16,729
down €16,729 (-91.7%), from €18,235 to €1,507
- Debts after one year -€16,385
down €16,385 (-4.5%), from €361,571 to €345,186
- Accrued charges and deferred income -€5,610
down €5,610 (-100.0%), from €5,610 to €0
- Gross operating margin -€30,403
down €30,403 (-51.0%), from €59,556 to €29,153
- Financial charges -€6,513
down €6,513 (-64.3%), from €10,126 to €3,613
- Taxes -€1,852
down €1,852 (-100.0%), from €1,852 to €0
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 | €519,755 | €502,358 | -€17,397 | -3.3% |
| Fixed assets | 21/28 | €512,989 | €491,151 | -€21,838 | -4.3% |
| Tangible fixed assets | 22/27 | €512,989 | €491,151 | -€21,838 | -4.3% |
| Land and buildings | 22 | €512,989 | €491,151 | -€21,838 | -4.3% |
| Current assets | 29/58 | €6,766 | €11,207 | +€4,441 | +65.6% |
| Amounts receivable within one year | 40/41 | - | €4,686 | +€4,686 | |
| Trade receivables | 40 | - | €4,686 | +€4,686 | |
| Cash at bank and in hand | 54/58 | €6,766 | €6,521 | -€246 | -3.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €519,755 | €502,358 | -€17,397 | -3.3% |
| Equity | 10/15 | €56,621 | €53,721 | -€2,901 | -5.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,120 | €4,120 | = | 0.0% |
| Non-distributable reserves | 130/1 | €206 | €206 | = | 0.0% |
| Legal reserve | 130 | €206 | €206 | = | 0.0% |
| Distributable reserves | 133 | €3,914 | €3,914 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,498 | -€12,399 | -€2,901 | -30.5% |
| Amounts payable | 17/49 | €463,133 | €448,637 | -€14,496 | -3.1% |
| Amounts payable after more than one year | 17 | €361,571 | €345,186 | -€16,385 | -4.5% |
| Financial debts | 170/4 | €361,571 | €345,186 | -€16,385 | -4.5% |
| Amounts payable within one year | 42/48 | €95,952 | €103,451 | +€7,499 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €16,084 | €16,385 | +€300 | +1.9% |
| Trade debts | 44 | €18,235 | €1,507 | -€16,729 | -91.7% |
| Suppliers | 440/4 | €18,235 | €1,507 | -€16,729 | -91.7% |
| Taxes, remuneration and social security | 45 | €1,852 | €1,852 | = | 0.0% |
| Taxes | 450/3 | €1,852 | €1,852 | = | 0.0% |
| Other amounts payable | 47/48 | €59,780 | €83,708 | +€23,927 | +40.0% |
| Accrued charges and deferred income | 492/3 | €5,610 | €0 | -€5,610 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,196 | €27,108 | -€88 | -0.3% |
| Other operating charges | 640/8 | €1,297 | €1,333 | +€36 | +2.8% |
| Gross operating margin | 9900 | €59,556 | €29,153 | -€30,403 | -51.0% |
| Operating profit (loss) | 9901 | €31,064 | €712 | -€30,352 | -97.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €10,126 | €3,613 | -€6,513 | -64.3% |
| Recurring financial charges | 65 | €10,126 | €3,613 | -€6,513 | -64.3% |
| Profit (loss) for the period before taxes | 9903 | €20,938 | -€2,901 | -€23,839 | |
| Income taxes | 67/77 | €1,852 | €0 | -€1,852 | -100.0% |
| Profit (loss) for the period | 9904 | €19,085 | -€2,901 | -€21,986 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,085 | -€2,901 | -€21,986 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.