ENEOL: 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.
ENEOL
Largest movements
- Cash -€176,325
down €176,325 (-38.4%), from €459,314 to €282,990
mainly Current investments (-€150,000) and Accrued charges and deferred income (-€65,498)
- Current investments +€150,000
up €150,000 (+100.0%), from €150,000 to €300,000
- Tangible fixed assets -€31,020
down €31,020 (-26.7%), from €116,297 to €85,278
of which Land and buildings: -€22,020
- Accrued charges and deferred income -€65,498
down €65,498 (-99.2%), from €66,048 to €550
- Reserves +€47,279
up €47,279 (+8.9%), from €533,347 to €580,626
of which Distributable reserves: +€47,279
- Other debts -€44,274
down €44,274 (-91.7%), from €48,271 to €3,997
- Trade debts +€14,750
up €14,750 (+64.9%), from €22,732 to €37,482
- Gross operating margin -€7,161
down €7,161 (-7.2%), from €100,092 to €92,930
- Financial income +€4,911
up €4,911 (+179.4%), from €2,738 to €7,649
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 | €739,358 | €681,075 | -€58,282 | -7.9% |
| Fixed assets | 21/28 | €116,297 | €85,278 | -€31,020 | -26.7% |
| Tangible fixed assets | 22/27 | €116,297 | €85,278 | -€31,020 | -26.7% |
| Land and buildings | 22 | €74,468 | €52,449 | -€22,020 | -29.6% |
| Furniture and vehicles | 24 | €41,829 | €32,829 | -€9,000 | -21.5% |
| Current assets | 29/58 | €623,060 | €595,798 | -€27,263 | -4.4% |
| Amounts receivable within one year | 40/41 | €8,234 | €8,501 | +€267 | +3.2% |
| Trade receivables | 40 | €8,234 | €8,500 | +€266 | +3.2% |
| Other amounts receivable | 41 | - | €1 | +€1 | |
| Current investments | 50/53 | €150,000 | €300,000 | +€150,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €459,314 | €282,990 | -€176,325 | -38.4% |
| Deferred charges and accrued income | 490/1 | €5,512 | €4,307 | -€1,205 | -21.9% |
| Total equity and liabilities | 10/49 | €739,358 | €681,075 | -€58,282 | -7.9% |
| Equity | 10/15 | €579,669 | €626,089 | +€46,420 | +8.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €533,347 | €580,626 | +€47,279 | +8.9% |
| Non-distributable reserves | 130/1 | €3,356 | €3,356 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,356 | €3,356 | = | 0.0% |
| Distributable reserves | 133 | €529,991 | €577,270 | +€47,279 | +8.9% |
| Profit (loss) carried forward | 14 | €12,013 | €12,013 | = | 0.0% |
| Investment grants | 15 | €15,716 | €14,858 | -€859 | -5.5% |
| Provisions and deferred taxes | 16 | €7,440 | €3,538 | -€3,902 | -52.4% |
| Deferred taxes | 168 | €7,440 | €3,538 | -€3,902 | -52.4% |
| Amounts payable | 17/49 | €152,249 | €51,448 | -€100,801 | -66.2% |
| Amounts payable within one year | 42/48 | €86,201 | €50,898 | -€35,303 | -41.0% |
| Trade debts | 44 | €22,732 | €37,482 | +€14,750 | +64.9% |
| Suppliers | 440/4 | €22,732 | €37,482 | +€14,750 | +64.9% |
| Taxes, remuneration and social security | 45 | €15,198 | €9,420 | -€5,779 | -38.0% |
| Taxes | 450/3 | €15,198 | €9,420 | -€5,779 | -38.0% |
| Other amounts payable | 47/48 | €48,271 | €3,997 | -€44,274 | -91.7% |
| Accrued charges and deferred income | 492/3 | €66,048 | €550 | -€65,498 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,813 | €32,160 | +€347 | +1.1% |
| Other operating charges | 640/8 | €6,402 | €5,619 | -€784 | -12.2% |
| Gross operating margin | 9900 | €100,092 | €92,930 | -€7,161 | -7.2% |
| Operating profit (loss) | 9901 | €61,877 | €55,152 | -€6,725 | -10.9% |
| Financial income | 75/76B | €2,738 | €7,649 | +€4,911 | +179.4% |
| Recurring financial income | 75 | €2,738 | €7,649 | +€4,911 | +179.4% |
| Financial charges | 65/66B | €170 | €176 | +€6 | +3.6% |
| Recurring financial charges | 65 | €170 | €176 | +€6 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €64,445 | €62,625 | -€1,820 | -2.8% |
| Transfer from deferred taxes | 780 | €876 | €3,902 | +€3,026 | +345.5% |
| Income taxes | 67/77 | €20,146 | €19,247 | -€898 | -4.5% |
| Profit (loss) for the period | 9904 | €45,175 | €47,279 | +€2,104 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,175 | €47,279 | +€2,104 | +4.7% |
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 3 October 2026 via checked.be.