ENECS: 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.
ENECS
Largest movements
- Cash +€36,145
up €36,145 (+97.4%), from €37,122 to €73,267
mainly Net result for the year (+€29,688) and Investment in fixed assets (net) (+€18,756)
- Tangible fixed assets -€18,756
down €18,756 (-100%), from €18,756 to €0
- Current investments +€8,000
new in 2025: €8,000
- Reserves +€29,688
up €29,688 (+66.4%), from €44,738 to €74,427
- Tax, wage and social debts -€2,999
down €2,999 (-14.6%), from €20,534 to €17,536
- Gross operating margin -€17,824
down €17,824 (-27.8%), from €64,066 to €46,242
- Depreciation -€5,373
down €5,373 (-100%), from €5,373 to €0
- Taxes -€3,334
down €3,334 (-26.6%), from €12,553 to €9,219
- Financial charges +€2,180
up €2,180 (+648%), from €337 to €2,517
- Other operating charges -€887
down €887 (-83.2%), from €1,065 to €179
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.
Derived cash bridge
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 | €71,222 | €97,117 | +€25,895 | +36.4% |
| Fixed assets | 21/28 | €18,756 | €0 | -€18,756 | -100% |
| Tangible fixed assets | 22/27 | €18,756 | €0 | -€18,756 | -100% |
| Furniture and vehicles | 24 | €18,756 | €0 | -€18,756 | -100% |
| Current assets | 29/58 | €52,465 | €97,117 | +€44,652 | +85.1% |
| Amounts receivable within one year | 40/41 | €15,343 | €15,850 | +€507 | +3.3% |
| Trade receivables | 40 | €15,343 | €15,850 | +€507 | +3.3% |
| Current investments | 50/53 | - | €8,000 | +€8,000 | |
| Cash at bank and in hand | 54/58 | €37,122 | €73,267 | +€36,145 | +97.4% |
| Total equity and liabilities | 10/49 | €71,222 | €97,117 | +€25,895 | +36.4% |
| Equity | 10/15 | €46,538 | €76,227 | +€29,688 | +63.8% |
| Contributions | 10/11 | €1,800 | €1,800 | = | 0.0% |
| Reserves | 13 | €44,738 | €74,427 | +€29,688 | +66.4% |
| Distributable reserves | 133 | €44,738 | €74,427 | +€29,688 | +66.4% |
| Amounts payable | 17/49 | €24,683 | €20,890 | -€3,793 | -15.4% |
| Amounts payable within one year | 42/48 | €24,683 | €20,890 | -€3,793 | -15.4% |
| Trade debts | 44 | €2,421 | €2,462 | +€41 | +1.7% |
| Suppliers | 440/4 | €2,421 | €2,462 | +€41 | +1.7% |
| Taxes, remuneration and social security | 45 | €20,534 | €17,536 | -€2,999 | -14.6% |
| Taxes | 450/3 | €20,534 | €17,536 | -€2,999 | -14.6% |
| Other amounts payable | 47/48 | €1,728 | €892 | -€836 | -48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,373 | €0 | -€5,373 | -100% |
| Other operating charges | 640/8 | €1,065 | €179 | -€887 | -83.2% |
| Non-recurring operating charges | 66A | - | €4,639 | +€4,639 | |
| Gross operating margin | 9900 | €64,066 | €46,242 | -€17,824 | -27.8% |
| Operating profit (loss) | 9901 | €57,628 | €41,425 | -€16,203 | -28.1% |
| Financial charges | 65/66B | €337 | €2,517 | +€2,180 | +648% |
| Recurring financial charges | 65 | €337 | €2,517 | +€2,180 | +648% |
| Profit (loss) for the period before taxes | 9903 | €57,291 | €38,908 | -€18,383 | -32.1% |
| Income taxes | 67/77 | €12,553 | €9,219 | -€3,334 | -26.6% |
| Profit (loss) for the period | 9904 | €44,738 | €29,688 | -€15,050 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,738 | €29,688 | -€15,050 | -33.6% |
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 24 October 2026 via checked.be.