ENELEC GROUP: 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.
ENELEC GROUP
Largest movements
- Receivables within one year +€166,016
up €166,016 (+378%), from €43,943 to €209,958
of which Trade receivables: +€120,522
- Tangible fixed assets -€2,668
down €2,668 (-33.0%), from €8,083 to €5,415
of which Plant, machinery and equipment: -€2,668
- Cash +€2,374
up €2,374 (+9,358%), from €25 to €2,400
mainly Trade debts (+€85,946) and Net result for the year (+€64,929)
- Trade debts +€85,946
up €85,946 (+290%), from €29,683 to €115,629
- Profit (loss) carried forward +€64,929
up €64,929 (+871%), from €7,456 to €72,385
- Tax, wage and social debts +€18,644
up €18,644 (+218%), from €8,569 to €27,213
of which Taxes: +€20,113
- Current portion of long-term debt -€7,064
no longer reported in 2025 (was €7,064)
- Short-term financial debts +€4,900
new in 2025: €4,900
- Gross operating margin +€79,512
up €79,512 (+236%), from €33,720 to €113,233
- Taxes +€17,788
up €17,788 (+494%), from €3,600 to €21,388
- Staff costs +€10,230
up €10,230 (+731%), from €1,399 to €11,629
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 | €64,407 | €229,867 | +€165,460 | +257% |
| Formation expenses | 20 | €487 | €188 | -€299 | -61.4% |
| Fixed assets | 21/28 | €18,083 | €15,415 | -€2,668 | -14.8% |
| Tangible fixed assets | 22/27 | €8,083 | €5,415 | -€2,668 | -33.0% |
| Plant, machinery and equipment | 23 | €8,083 | €5,415 | -€2,668 | -33.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €45,837 | €214,264 | +€168,427 | +367% |
| Amounts receivable within one year | 40/41 | €43,943 | €209,958 | +€166,016 | +378% |
| Trade receivables | 40 | €29,659 | €150,181 | +€120,522 | +406% |
| Other amounts receivable | 41 | €14,284 | €59,777 | +€45,494 | +319% |
| Cash at bank and in hand | 54/58 | €25 | €2,400 | +€2,374 | +9,358% |
| Deferred charges and accrued income | 490/1 | €1,869 | €1,907 | +€37 | +2.0% |
| Total equity and liabilities | 10/49 | €64,407 | €229,867 | +€165,460 | +257% |
| Equity | 10/15 | €15,456 | €80,385 | +€64,929 | +420% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,456 | €72,385 | +€64,929 | +871% |
| Amounts payable | 17/49 | €48,951 | €149,482 | +€100,531 | +205% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €48,951 | €149,482 | +€100,531 | +205% |
| Current portion of amounts payable after more than one year | 42 | €7,064 | - | -€7,064 | |
| Financial debts | 43 | - | €4,900 | +€4,900 | |
| Credit institutions | 430/8 | - | €4,900 | +€4,900 | |
| Trade debts | 44 | €29,683 | €115,629 | +€85,946 | +290% |
| Suppliers | 440/4 | €29,683 | €115,629 | +€85,946 | +290% |
| Taxes, remuneration and social security | 45 | €8,569 | €27,213 | +€18,644 | +218% |
| Taxes | 450/3 | €7,100 | €27,213 | +€20,113 | +283% |
| Remuneration and social security | 454/9 | €1,469 | - | -€1,469 | |
| Other amounts payable | 47/48 | €3,635 | €1,740 | -€1,895 | -52.1% |
| Non-recurring operating income | 76A | €1,880 | - | -€1,880 | |
| Remuneration, social security and pensions | 62 | €1,399 | €11,629 | +€10,230 | +731% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,618 | €7,367 | -€251 | -3.3% |
| Other operating charges | 640/8 | €5,638 | €6,402 | +€765 | +13.6% |
| Non-recurring operating charges | 66A | €5,784 | - | -€5,784 | |
| Gross operating margin | 9900 | €33,720 | €113,233 | +€79,512 | +236% |
| Operating profit (loss) | 9901 | €13,281 | €87,835 | +€74,553 | +561% |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | €2,489 | €1,560 | -€929 | -37.3% |
| Recurring financial charges | 65 | €2,489 | €1,560 | -€929 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €10,793 | €86,317 | +€75,524 | +700% |
| Income taxes | 67/77 | €3,600 | €21,388 | +€17,788 | +494% |
| Profit (loss) for the period | 9904 | €7,193 | €64,929 | +€57,736 | +803% |
| Profit (loss) for the period to be appropriated | 9905 | €7,193 | €64,929 | +€57,736 | +803% |
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 15 October 2026 via checked.be.