Enigma One: 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.
Enigma One
Largest movements
- Cash -€161,550
down €161,550 (-92.3%), from €174,999 to €13,449
mainly Receivables within one year (-€137,818) and Contributions, distributions and other (-€73,552)
- Receivables within one year +€137,818
up €137,818 (+270.4%), from €50,971 to €188,789
of which Trade receivables: +€141,651
- Current investments +€18,709
up €18,709 (+20.3%), from €92,326 to €111,034
- Tangible fixed assets -€9,056
down €9,056 (-11.0%), from €82,188 to €73,132
of which Furniture and vehicles: -€14,992
- Reserves -€51,076
down €51,076 (-17.0%), from €300,717 to €249,641
- Other debts +€47,425
up €47,425 (+386.5%), from €12,269 to €59,694
- Debts after one year -€14,536
down €14,536 (-29.3%), from €49,561 to €35,026
- Gross operating margin -€42,995
down €42,995 (-41.5%), from €103,545 to €60,550
- Taxes -€13,303
down €13,303 (-55.2%), from €24,084 to €10,780
- Financial income +€1,353
up €1,353 (+181.7%), from €745 to €2,098
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 | €405,776 | €390,623 | -€15,154 | -3.7% |
| Fixed assets | 21/28 | €82,188 | €73,132 | -€9,056 | -11.0% |
| Tangible fixed assets | 22/27 | €82,188 | €73,132 | -€9,056 | -11.0% |
| Land and buildings | 22 | €8,668 | €14,822 | +€6,153 | +71.0% |
| Plant, machinery and equipment | 23 | €2,002 | €1,785 | -€217 | -10.9% |
| Furniture and vehicles | 24 | €71,518 | €56,526 | -€14,992 | -21.0% |
| Current assets | 29/58 | €323,588 | €317,490 | -€6,098 | -1.9% |
| Amounts receivable within one year | 40/41 | €50,971 | €188,789 | +€137,818 | +270.4% |
| Trade receivables | 40 | €42,329 | €183,981 | +€141,651 | +334.6% |
| Other amounts receivable | 41 | €8,642 | €4,808 | -€3,833 | -44.4% |
| Current investments | 50/53 | €92,326 | €111,034 | +€18,709 | +20.3% |
| Cash at bank and in hand | 54/58 | €174,999 | €13,449 | -€161,550 | -92.3% |
| Deferred charges and accrued income | 490/1 | €5,293 | €4,219 | -€1,074 | -20.3% |
| Total equity and liabilities | 10/49 | €405,776 | €390,623 | -€15,154 | -3.7% |
| Equity | 10/15 | €325,917 | €274,841 | -€51,076 | -15.7% |
| Contributions | 10/11 | €25,200 | €25,200 | = | 0.0% |
| Reserves | 13 | €300,717 | €249,641 | -€51,076 | -17.0% |
| Distributable reserves | 133 | €300,717 | €249,641 | -€51,076 | -17.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €79,859 | €115,782 | +€35,923 | +45.0% |
| Amounts payable after more than one year | 17 | €49,561 | €35,026 | -€14,536 | -29.3% |
| Financial debts | 170/4 | €49,561 | €35,026 | -€14,536 | -29.3% |
| Amounts payable within one year | 42/48 | €30,298 | €80,756 | +€50,458 | +166.5% |
| Current portion of amounts payable after more than one year | 42 | €13,938 | €14,536 | +€598 | +4.3% |
| Financial debts | 43 | €2 | €221 | +€219 | +10995.0% |
| Credit institutions | 430/8 | €2 | €221 | +€219 | +10995.0% |
| Trade debts | 44 | €1,462 | €2,644 | +€1,181 | +80.8% |
| Suppliers | 440/4 | €1,462 | €2,644 | +€1,181 | +80.8% |
| Taxes, remuneration and social security | 45 | €2,627 | €3,662 | +€1,035 | +39.4% |
| Taxes | 450/3 | €2,627 | €817 | -€1,810 | -68.9% |
| Remuneration and social security | 454/9 | - | €2,845 | +€2,845 | |
| Other amounts payable | 47/48 | €12,269 | €59,694 | +€47,425 | +386.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,351 | €22,252 | +€901 | +4.2% |
| Other operating charges | 640/8 | €1,219 | €1,007 | -€212 | -17.4% |
| Non-recurring operating charges | 66A | - | €3,619 | +€3,619 | |
| Gross operating margin | 9900 | €103,545 | €60,550 | -€42,995 | -41.5% |
| Operating profit (loss) | 9901 | €80,976 | €33,673 | -€47,303 | -58.4% |
| Financial income | 75/76B | €745 | €2,098 | +€1,353 | +181.7% |
| Recurring financial income | 75 | €745 | €2,098 | +€1,353 | +181.7% |
| Financial charges | 65/66B | €3,019 | €2,514 | -€504 | -16.7% |
| Recurring financial charges | 65 | €3,019 | €2,514 | -€504 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €78,702 | €33,256 | -€45,446 | -57.7% |
| Income taxes | 67/77 | €24,084 | €10,780 | -€13,303 | -55.2% |
| Profit (loss) for the period | 9904 | €54,618 | €22,476 | -€32,143 | -58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,618 | €22,476 | -€32,143 | -58.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.