ENEOVA: 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.
ENEOVA
Largest movements
- Tangible fixed assets +€207,579
up €207,579 (+17.4%), from €1.2m to €1.4m
of which Land and buildings: +€251,942
- Receivables within one year -€149,181
down €149,181 (-50.0%), from €298,459 to €149,278
of which Trade receivables: -€150,281
- Cash -€29,628
down €29,628 (-32.8%), from €90,224 to €60,595
mainly Investment in fixed assets (net) (-€313,446) and Debts after one year (-€88,282)
- Profit (loss) carried forward +€121,990
up €121,990 (+12.5%), from €976,976 to €1.1m
- Debts after one year -€88,282
down €88,282 (-9.6%), from €923,601 to €835,319
of which Financial debts: -€88,282
- Gross operating margin +€205,663
up €205,663 (+100.5%), from €204,591 to €410,254
- Staff costs +€21,057
up €21,057 (+18.0%), from €116,770 to €137,827
- Taxes +€14,578
up €14,578 (+8202.1%), from €178 to €14,756
- Depreciation +€14,247
up €14,247 (+15.7%), from €90,488 to €104,736
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 | €2,151,880 | €2,183,035 | +€31,154 | +1.4% |
| Fixed assets | 21/28 | €1,464,082 | €1,672,792 | +€208,710 | +14.3% |
| Intangible fixed assets | 21 | €2,317 | €3,448 | +€1,131 | +48.8% |
| Tangible fixed assets | 22/27 | €1,194,167 | €1,401,746 | +€207,579 | +17.4% |
| Land and buildings | 22 | €1,079,536 | €1,331,478 | +€251,942 | +23.3% |
| Plant, machinery and equipment | 23 | €23,607 | €13,724 | -€9,883 | -41.9% |
| Furniture and vehicles | 24 | €91,024 | €56,544 | -€34,480 | -37.9% |
| Financial fixed assets | 28 | €267,598 | €267,598 | = | 0.0% |
| Current assets | 29/58 | €687,798 | €510,242 | -€177,556 | -25.8% |
| Stocks and contracts in progress | 3 | €84,366 | €87,001 | +€2,635 | +3.1% |
| Stocks | 30/36 | €84,366 | €87,001 | +€2,635 | +3.1% |
| Amounts receivable within one year | 40/41 | €298,459 | €149,278 | -€149,181 | -50.0% |
| Trade receivables | 40 | €222,465 | €72,185 | -€150,281 | -67.6% |
| Other amounts receivable | 41 | €75,994 | €77,093 | +€1,100 | +1.4% |
| Current investments | 50/53 | €191,000 | €204,000 | +€13,000 | +6.8% |
| Cash at bank and in hand | 54/58 | €90,224 | €60,595 | -€29,628 | -32.8% |
| Deferred charges and accrued income | 490/1 | €23,749 | €9,368 | -€14,382 | -60.6% |
| Total equity and liabilities | 10/49 | €2,151,880 | €2,183,035 | +€31,154 | +1.4% |
| Equity | 10/15 | €1,031,976 | €1,153,966 | +€121,990 | +11.8% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €976,976 | €1,098,966 | +€121,990 | +12.5% |
| Amounts payable | 17/49 | €1,119,905 | €1,029,069 | -€90,836 | -8.1% |
| Amounts payable after more than one year | 17 | €923,601 | €835,319 | -€88,282 | -9.6% |
| Financial debts | 170/4 | €873,601 | €785,319 | -€88,282 | -10.1% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €194,262 | €191,845 | -€2,417 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €86,049 | €93,425 | +€7,376 | +8.6% |
| Trade debts | 44 | €100,618 | €89,326 | -€11,292 | -11.2% |
| Suppliers | 440/4 | €100,618 | €89,326 | -€11,292 | -11.2% |
| Taxes, remuneration and social security | 45 | - | €168 | +€168 | |
| Taxes | 450/3 | - | €168 | +€168 | |
| Other amounts payable | 47/48 | €7,594 | €8,925 | +€1,331 | +17.5% |
| Accrued charges and deferred income | 492/3 | €2,042 | €1,905 | -€137 | -6.7% |
| Non-recurring operating income | 76A | - | €9,514 | +€9,514 | |
| Remuneration, social security and pensions | 62 | €116,770 | €137,827 | +€21,057 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,488 | €104,736 | +€14,247 | +15.7% |
| Other operating charges | 640/8 | €3,184 | €3,725 | +€541 | +17.0% |
| Non-recurring operating charges | 66A | €1,153 | €5,336 | +€4,183 | +362.8% |
| Gross operating margin | 9900 | €204,591 | €410,254 | +€205,663 | +100.5% |
| Operating profit (loss) | 9901 | -€7,005 | €158,631 | +€165,635 | |
| Financial income | 75/76B | €6,032 | €8,178 | +€2,145 | +35.6% |
| Recurring financial income | 75 | €6,032 | €8,178 | +€2,145 | +35.6% |
| Financial charges | 65/66B | €27,708 | €30,062 | +€2,354 | +8.5% |
| Recurring financial charges | 65 | €27,708 | €30,062 | +€2,354 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | -€28,680 | €136,746 | +€165,427 | |
| Income taxes | 67/77 | €178 | €14,756 | +€14,578 | +8202.1% |
| Profit (loss) for the period | 9904 | -€28,858 | €121,990 | +€150,848 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,858 | €121,990 | +€150,848 |
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 9 October 2026 via checked.be.