ENELLUX: 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.
ENELLUX
Largest movements
- Cash -€211,642
down €211,642 (-87.2%), from €242,827 to €31,185
mainly Net result for the year (-€151,285) and Tax, wage and social debts (-€85,338)
- Receivables within one year -€50,095
down €50,095 (-18.3%), from €273,728 to €223,633
of which Trade receivables: -€55,196
- Profit (loss) carried forward -€151,285
down €151,285 (-37.5%), from €402,972 to €251,687
- Tax, wage and social debts -€85,338
down €85,338 (-84.1%), from €101,488 to €16,150
of which Taxes: -€84,840
- Trade debts -€25,942
down €25,942 (-50.6%), from €51,222 to €25,280
- Gross operating margin -€90,412
down €90,412 (-322%), from -€28,091 to -€118,503
- Write-downs +€62,729
up €62,729 (+97.7%), from -€64,181 to -€1,452
- Staff costs -€13,477
down €13,477 (-56.8%), from €23,747 to €10,270
- Depreciation +€4,098
up €4,098 (+32.1%), from €12,769 to €16,867
- Other operating charges +€2,499
up €2,499 (+83.6%), from €2,989 to €5,487
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 | €558,682 | €296,117 | -€262,565 | -47.0% |
| Fixed assets | 21/28 | €38,819 | €36,632 | -€2,187 | -5.6% |
| Intangible fixed assets | 21 | - | €3,083 | +€3,083 | |
| Tangible fixed assets | 22/27 | €38,699 | €33,429 | -€5,270 | -13.6% |
| Plant, machinery and equipment | 23 | €1,421 | €853 | -€568 | -40.0% |
| Furniture and vehicles | 24 | €37,278 | €32,576 | -€4,702 | -12.6% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €519,863 | €259,485 | -€260,378 | -50.1% |
| Amounts receivable within one year | 40/41 | €273,728 | €223,633 | -€50,095 | -18.3% |
| Trade receivables | 40 | €196,694 | €141,498 | -€55,196 | -28.1% |
| Other amounts receivable | 41 | €77,034 | €82,135 | +€5,101 | +6.6% |
| Cash at bank and in hand | 54/58 | €242,827 | €31,185 | -€211,642 | -87.2% |
| Deferred charges and accrued income | 490/1 | €3,308 | €4,666 | +€1,358 | +41.1% |
| Total equity and liabilities | 10/49 | €558,682 | €296,117 | -€262,565 | -47.0% |
| Equity | 10/15 | €405,972 | €254,687 | -€151,285 | -37.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402,972 | €251,687 | -€151,285 | -37.5% |
| Amounts payable | 17/49 | €152,710 | €41,430 | -€111,280 | -72.9% |
| Amounts payable within one year | 42/48 | €152,710 | €41,430 | -€111,280 | -72.9% |
| Trade debts | 44 | €51,222 | €25,280 | -€25,942 | -50.6% |
| Suppliers | 440/4 | €51,222 | €25,280 | -€25,942 | -50.6% |
| Taxes, remuneration and social security | 45 | €101,488 | €16,150 | -€85,338 | -84.1% |
| Taxes | 450/3 | €98,548 | €13,707 | -€84,840 | -86.1% |
| Remuneration and social security | 454/9 | €2,940 | €2,443 | -€497 | -16.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €23,747 | €10,270 | -€13,477 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,769 | €16,867 | +€4,098 | +32.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€64,181 | -€1,452 | +€62,729 | +97.7% |
| Other operating charges | 640/8 | €2,989 | €5,487 | +€2,499 | +83.6% |
| Gross operating margin | 9900 | -€28,091 | -€118,503 | -€90,412 | -322% |
| Operating profit (loss) | 9901 | -€3,415 | -€149,675 | -€146,260 | -4,283% |
| Financial income | 75/76B | €13 | €235 | +€221 | +1,672% |
| Recurring financial income | 75 | €13 | €235 | +€221 | +1,672% |
| Financial charges | 65/66B | €444 | €1,844 | +€1,400 | +316% |
| Recurring financial charges | 65 | €444 | €1,844 | +€1,400 | +316% |
| Profit (loss) for the period before taxes | 9903 | -€3,846 | -€151,285 | -€147,439 | -3,834% |
| Income taxes | 67/77 | €1,683 | €0 | -€1,683 | -100% |
| Profit (loss) for the period | 9904 | -€5,529 | -€151,285 | -€145,756 | -2,636% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,529 | -€151,285 | -€145,756 | -2,636% |
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 26 October 2026 via checked.be.