ENHESA 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.
What changed
ENHESA GROUP
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€8.1m
2024 · -€1.8m+€9.9m
Equity
€44.9m
2024 · €46.3m-€1.4m
Cash
€10,209
2024 · €699+€9,510
Balance sheet total
€74.5m
2024 · €76.1m-€1.6m
Largest movements
Assets
- Receivables within one year -€1.6m
down €1.6m (-99.4%), from €1.6m to €10,351
of which Other amounts receivable: -€1.6m
Equity and liabilities
- Contributions -€9.5m
down €9.5m (-20.1%), from €47.4m to €37.9m
of which Capital: -€9.5m
- Profit (loss) carried forward +€7.7m
up €7.7m, from -€4.1m to €3.6m
- Debts after one year +€6.3m
up €6.3m (+28.4%), from €22.2m to €28.5m
- Accrued charges and deferred income -€4.4m
down €4.4m (-94.8%), from €4.7m to €241,221
- Other debts -€1.2m
down €1.2m (-64.3%), from €1.9m to €688,908
Income statement
- Financial income +€9.5m
up €9.5m (+556,523%), from €1,707 to €9.5m
- Other operating income -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Services and other goods -€998,424
down €998,424 (-98.4%), from €1.0m to €16,378
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.
Result 2024
-€1.8m
Other operating charges
-€80,049
Other operating items
+€62,529
Financial income
+€9.5m
Financial charges
+€441,705
Taxes
-€36
Result 2025
€8.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.2m
Investment
€0
Financing
-€3.2m
Cash 2024
€699
From operations (derived)
+€3.2m
Net result for the year
+€8.1m
Receivables within one year
+€1.6m
Deferred charges and accrued income
+€2,287
Trade debts
-€805,628
Other debts
-€1.2m
Accrued charges and deferred income
-€4.4m
Financing
-€3.2m
Debts after one year
+€6.3m
Short-term financial debts
-€711
Contributions, distributions and other
-€9.5m
Cash 2025
€10,209
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,118,040 | €74,508,309 | -€1.6m | -2.1% |
| Fixed assets | 21/28 | €74,487,749 | €74,487,749 | = | 0.0% |
| Financial fixed assets | 28 | €74,487,749 | €74,487,749 | = | 0.0% |
| Affiliated companies | 280/1 | €74,487,749 | €74,487,749 | = | 0.0% |
| Participating interests | 280 | €74,487,749 | €74,487,749 | = | 0.0% |
| Current assets | 29/58 | €1,630,291 | €20,560 | -€1.6m | -98.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,627,306 | €10,351 | -€1.6m | -99.4% |
| Trade receivables | 40 | €6,236 | €6,236 | = | 0.0% |
| Other amounts receivable | 41 | €1,621,070 | €4,115 | -€1.6m | -99.7% |
| Cash at bank and in hand | 54/58 | €699 | €10,209 | +€9,510 | +1,361% |
| Deferred charges and accrued income | 490/1 | €2,287 | €0 | -€2,287 | -100% |
| Total equity and liabilities | 10/49 | €76,118,040 | €74,508,309 | -€1.6m | -2.1% |
| Equity | 10/15 | €46,327,080 | €44,909,153 | -€1.4m | -3.1% |
| Contributions | 10/11 | €47,357,675 | €37,857,675 | -€9.5m | -20.1% |
| Capital | 10 | €47,357,675 | €37,857,675 | -€9.5m | -20.1% |
| Issued capital | 100 | €47,357,675 | €37,857,675 | -€9.5m | -20.1% |
| Contributions outside capital | 11 | €0 | - | = | |
| Share premium | 1100/10 | €0 | - | = | |
| Reserves | 13 | €3,056,667 | €3,460,771 | +€404,104 | +13.2% |
| Non-distributable reserves | 130/1 | €1,740,434 | €2,144,538 | +€404,104 | +23.2% |
| Legal reserve | 130 | €1,740,434 | €2,144,538 | +€404,104 | +23.2% |
| Distributable reserves | 133 | €1,316,233 | €1,316,233 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,087,263 | €3,590,707 | +€7.7m | |
| Amounts payable | 17/49 | €29,790,961 | €29,599,156 | -€191,805 | -0.6% |
| Amounts payable after more than one year | 17 | €22,178,749 | €28,474,654 | +€6.3m | +28.4% |
| Financial debts | 170/4 | €22,178,749 | €28,474,654 | +€6.3m | +28.4% |
| Other loans | 174 | €22,178,749 | €28,474,654 | +€6.3m | +28.4% |
| Amounts payable within one year | 42/48 | €2,931,934 | €883,280 | -€2.0m | -69.9% |
| Financial debts | 43 | €711 | €0 | -€711 | -100% |
| Credit institutions | 430/8 | €711 | €0 | -€711 | -100% |
| Trade debts | 44 | €1,000,000 | €194,372 | -€805,628 | -80.6% |
| Suppliers | 440/4 | €1,000,000 | €194,372 | -€805,628 | -80.6% |
| Other amounts payable | 47/48 | €1,931,223 | €688,908 | -€1.2m | -64.3% |
| Accrued charges and deferred income | 492/3 | €4,680,277 | €241,221 | -€4.4m | -94.8% |
| Operating income | 70/76A | €1,599,514 | €663,618 | -€935,896 | -58.5% |
| Other operating income | 74 | €1,000,000 | €0 | -€1.0m | -100% |
| Non-recurring operating income | 76A | €599,514 | €663,618 | +€64,104 | +10.7% |
| Operating charges | 60/66A | €1,016,119 | €97,744 | -€918,375 | -90.4% |
| Services and other goods | 61 | €1,014,802 | €16,378 | -€998,424 | -98.4% |
| Other operating charges | 640/8 | €1,318 | €81,367 | +€80,049 | +6,076% |
| Operating profit (loss) | 9901 | €583,395 | €565,874 | -€17,521 | -3.0% |
| Financial income | 75/76B | €1,707 | €9,500,436 | +€9.5m | +556,523% |
| Recurring financial income | 75 | €1,707 | €9,500,436 | +€9.5m | +556,523% |
| Income from financial fixed assets | 750 | - | €9,500,000 | +€9.5m | |
| Income from current assets | 751 | €126 | €8 | -€118 | -93.8% |
| Other financial income | 752/9 | €1,581 | €428 | -€1,153 | -72.9% |
| Financial charges | 65/66B | €2,425,942 | €1,984,236 | -€441,705 | -18.2% |
| Recurring financial charges | 65 | €2,425,942 | €1,984,236 | -€441,705 | -18.2% |
| Debt charges | 650 | €2,419,597 | €1,984,227 | -€435,369 | -18.0% |
| Other financial charges | 652/9 | €6,345 | €9 | -€6,336 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,840,840 | €8,082,073 | +€9.9m | |
| Income taxes | 67/77 | -€36 | -€0 | +€36 | +100.0% |
| Taxes | 670/3 | €0 | - | = | |
| Tax adjustments and reversals of tax provisions | 77 | €36 | €0 | -€36 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,840,805 | €8,082,073 | +€9.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,840,805 | €8,082,073 | +€9.9m |
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.