ENEMCO: 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.
ENEMCO
Largest movements
- Cash +€97,520
up €97,520 (+744.8%), from €13,094 to €110,614
mainly Net result for the year (+€129,058) and Other debts (+€59,991)
- Financial fixed assets +€69,310
up €69,310 (+69.1%), from €100,293 to €169,603
- Receivables within one year -€4,583
down €4,583 (-10.0%), from €45,933 to €41,350
of which Trade receivables: -€4,788
- Other debts +€59,991
up €59,991 (+1637.3%), from €3,664 to €63,655
- Debts after one year +€34,054
new in 2025: €34,054
- Reserves +€29,140
up €29,140 (+26.3%), from €110,860 to €140,000
- Short-term financial debts +€24,364
new in 2025: €24,364
- Tax, wage and social debts +€21,799
up €21,799 (+136.6%), from €15,960 to €37,759
- Gross operating margin +€116,025
up €116,025 (+172.9%), from €67,109 to €183,134
- Taxes +€28,281
up €28,281 (+160.8%), from €17,590 to €45,870
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 | €172,308 | €336,893 | +€164,585 | +95.5% |
| Fixed assets | 21/28 | €112,156 | €182,031 | +€69,875 | +62.3% |
| Tangible fixed assets | 22/27 | €11,863 | €12,429 | +€565 | +4.8% |
| Plant, machinery and equipment | 23 | €1,958 | €207 | -€1,751 | -89.4% |
| Furniture and vehicles | 24 | €9,905 | €12,221 | +€2,317 | +23.4% |
| Financial fixed assets | 28 | €100,293 | €169,603 | +€69,310 | +69.1% |
| Current assets | 29/58 | €60,152 | €154,862 | +€94,709 | +157.4% |
| Amounts receivable within one year | 40/41 | €45,933 | €41,350 | -€4,583 | -10.0% |
| Trade receivables | 40 | €45,837 | €41,048 | -€4,788 | -10.4% |
| Other amounts receivable | 41 | €97 | €302 | +€205 | +212.1% |
| Current investments | 50/53 | - | €1,200 | +€1,200 | |
| Cash at bank and in hand | 54/58 | €13,094 | €110,614 | +€97,520 | +744.8% |
| Deferred charges and accrued income | 490/1 | €1,125 | €1,698 | +€573 | +50.9% |
| Total equity and liabilities | 10/49 | €172,308 | €336,893 | +€164,585 | +95.5% |
| Equity | 10/15 | €130,128 | €159,186 | +€29,058 | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €110,860 | €140,000 | +€29,140 | +26.3% |
| Distributable reserves | 133 | €110,860 | €140,000 | +€29,140 | +26.3% |
| Profit (loss) carried forward | 14 | €668 | €586 | -€82 | -12.3% |
| Amounts payable | 17/49 | €42,179 | €177,706 | +€135,527 | +321.3% |
| Amounts payable after more than one year | 17 | - | €34,054 | +€34,054 | |
| Financial debts | 170/4 | - | €34,054 | +€34,054 | |
| Amounts payable within one year | 42/48 | €39,614 | €141,085 | +€101,472 | +256.2% |
| Current portion of amounts payable after more than one year | 42 | €12,027 | €9,410 | -€2,617 | -21.8% |
| Financial debts | 43 | - | €24,364 | +€24,364 | |
| Credit institutions | 430/8 | - | €24,364 | +€24,364 | |
| Trade debts | 44 | €7,963 | €5,897 | -€2,065 | -25.9% |
| Suppliers | 440/4 | €7,963 | €5,897 | -€2,065 | -25.9% |
| Taxes, remuneration and social security | 45 | €15,960 | €37,759 | +€21,799 | +136.6% |
| Taxes | 450/3 | €15,960 | €37,759 | +€21,799 | +136.6% |
| Other amounts payable | 47/48 | €3,664 | €63,655 | +€59,991 | +1637.3% |
| Accrued charges and deferred income | 492/3 | €2,566 | €2,567 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,814 | €2,824 | +€10 | +0.4% |
| Other operating charges | 640/8 | €244 | €216 | -€28 | -11.5% |
| Gross operating margin | 9900 | €67,109 | €183,134 | +€116,025 | +172.9% |
| Operating profit (loss) | 9901 | €64,051 | €180,094 | +€116,043 | +181.2% |
| Financial income | 75/76B | €1 | €2 | +€2 | +206.3% |
| Recurring financial income | 75 | €1 | €2 | +€2 | +206.3% |
| Financial charges | 65/66B | €4,696 | €5,168 | +€471 | +10.0% |
| Recurring financial charges | 65 | €4,696 | €5,168 | +€471 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €59,355 | €174,928 | +€115,573 | +194.7% |
| Income taxes | 67/77 | €17,590 | €45,870 | +€28,281 | +160.8% |
| Profit (loss) for the period | 9904 | €41,766 | €129,058 | +€87,292 | +209.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,766 | €129,058 | +€87,292 | +209.0% |
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 8 October 2026 via checked.be.