ENECON: 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.
ENECON
Largest movements
- Stocks and contracts -€144,496
no longer reported in 2025 (was €144,496)
- Cash +€122,180
up €122,180 (+437.4%), from €27,932 to €150,113
mainly Stocks and contracts (+€144,496) and Net result for the year (+€58,476)
- Receivables within one year -€11,005
down €11,005 (-24.0%), from €45,928 to €34,923
of which Trade receivables: -€9,434
- Tangible fixed assets +€7,668
up €7,668 (+85.3%), from €8,990 to €16,658
of which Furniture and vehicles: +€8,122
- Debts after one year -€95,000
no longer reported in 2025 (was €95,000)
- Reserves +€58,476
up €58,476 (+64.0%), from €91,388 to €149,864
- Tax, wage and social debts +€17,038
up €17,038 (+327.7%), from €5,200 to €22,239
of which Taxes: +€17,222
- Trade debts -€3,576
down €3,576 (-10.5%), from €34,047 to €30,471
- Other operating charges -€18,041
down €18,041 (-92.5%), from €19,509 to €1,468
- Taxes -€14,169
down €14,169 (-37.2%), from €38,038 to €23,869
- Gross operating margin +€6,421
up €6,421 (+7.6%), from €84,662 to €91,082
- Financial income +€2,692
up €2,692 (+2300.5%), from €117 to €2,809
- Financial charges +€2,259
up €2,259 (+114.6%), from €1,971 to €4,231
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 | €243,080 | €220,018 | -€23,061 | -9.5% |
| Fixed assets | 21/28 | €20,073 | €29,742 | +€9,668 | +48.2% |
| Tangible fixed assets | 22/27 | €8,990 | €16,658 | +€7,668 | +85.3% |
| Furniture and vehicles | 24 | €5,175 | €13,297 | +€8,122 | +156.9% |
| Other tangible fixed assets | 26 | €3,814 | €3,361 | -€453 | -11.9% |
| Financial fixed assets | 28 | €11,084 | €13,084 | +€2,000 | +18.0% |
| Current assets | 29/58 | €223,006 | €190,277 | -€32,730 | -14.7% |
| Stocks and contracts in progress | 3 | €144,496 | - | -€144,496 | |
| Stocks | 30/36 | €144,496 | - | -€144,496 | |
| Amounts receivable within one year | 40/41 | €45,928 | €34,923 | -€11,005 | -24.0% |
| Trade receivables | 40 | €33,919 | €24,485 | -€9,434 | -27.8% |
| Other amounts receivable | 41 | €12,009 | €10,438 | -€1,571 | -13.1% |
| Cash at bank and in hand | 54/58 | €27,932 | €150,113 | +€122,180 | +437.4% |
| Deferred charges and accrued income | 490/1 | €4,649 | €5,241 | +€591 | +12.7% |
| Total equity and liabilities | 10/49 | €243,080 | €220,018 | -€23,061 | -9.5% |
| Equity | 10/15 | €88,731 | €147,207 | +€58,476 | +65.9% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Outside capital | 11 | €12,600 | €12,600 | = | 0.0% |
| Other | 1109/19 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €91,388 | €149,864 | +€58,476 | +64.0% |
| Distributable reserves | 133 | €91,388 | €149,864 | +€58,476 | +64.0% |
| Profit (loss) carried forward | 14 | -€15,257 | -€15,257 | = | 0.0% |
| Amounts payable | 17/49 | €154,348 | €72,811 | -€81,537 | -52.8% |
| Amounts payable after more than one year | 17 | €95,000 | - | -€95,000 | |
| Financial debts | 170/4 | €95,000 | - | -€95,000 | |
| Amounts payable within one year | 42/48 | €58,834 | €72,811 | +€13,977 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €6,093 | €6,608 | +€515 | +8.4% |
| Trade debts | 44 | €34,047 | €30,471 | -€3,576 | -10.5% |
| Suppliers | 440/4 | €34,047 | €30,471 | -€3,576 | -10.5% |
| Advances received on contracts in progress | 46 | €13,494 | €13,494 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,200 | €22,239 | +€17,038 | +327.7% |
| Taxes | 450/3 | - | €17,222 | +€17,222 | |
| Remuneration and social security | 454/9 | €5,200 | €5,017 | -€183 | -3.5% |
| Accrued charges and deferred income | 492/3 | €515 | - | -€515 | |
| Non-recurring operating income | 76A | - | €20 | +€20 | |
| Remuneration, social security and pensions | 62 | €3,610 | €3,340 | -€270 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,442 | €2,508 | +€1,066 | +73.9% |
| Other operating charges | 640/8 | €19,509 | €1,468 | -€18,041 | -92.5% |
| Gross operating margin | 9900 | €84,662 | €91,082 | +€6,421 | +7.6% |
| Operating profit (loss) | 9901 | €60,100 | €83,767 | +€23,667 | +39.4% |
| Financial income | 75/76B | €117 | €2,809 | +€2,692 | +2300.5% |
| Recurring financial income | 75 | €117 | €2,809 | +€2,692 | +2300.5% |
| Financial charges | 65/66B | €1,971 | €4,231 | +€2,259 | +114.6% |
| Recurring financial charges | 65 | €1,971 | €4,231 | +€2,259 | +114.6% |
| Profit (loss) for the period before taxes | 9903 | €58,246 | €82,345 | +€24,099 | +41.4% |
| Income taxes | 67/77 | €38,038 | €23,869 | -€14,169 | -37.2% |
| Profit (loss) for the period | 9904 | €20,208 | €58,476 | +€38,268 | +189.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,208 | €58,476 | +€38,268 | +189.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.