ENIX: what changed
What changed
ENIX
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€37.0m
31-12-2024 · €65.2m-€28.3m
Equity
€333.3m
31-12-2024 · €347.0m-€13.8m
Cash
€51.7m
31-12-2024 · €5.8m+€45.9m
Balance sheet total
€346.9m
31-12-2024 · €361.4m-€14.6m
Largest movements
Assets
- Cash +€45.9m
up €45.9m (+797%), from €5.8m to €51.7m
mainly Net result for the year (+€37.0m) and Receivables after one year (+€25.0m)
- Receivables after one year -€25.0m
down €25.0m (-96.9%), from €25.8m to €811,200
- Financial fixed assets -€21.9m
down €21.9m (-12.8%), from €171.7m to €149.8m
- Current investments -€18.1m
down €18.1m (-12.7%), from €142.5m to €124.4m
- Receivables within one year +€6.2m
up €6.2m (+176%), from €3.6m to €9.8m
of which Other amounts receivable: +€6.2m
Equity and liabilities
- Contributions -€20.5m
down €20.5m (-16.3%), from €125.5m to €105.0m
- Reserves +€6.7m
up €6.7m (+3.2%), from €207.2m to €213.9m
of which Distributable reserves: +€8.8m
Income statement
- Financial income -€25.3m
down €25.3m (-35.0%), from €72.1m to €46.9m
of which Non-recurring financial income: -€21.4m
- Financial charges +€3.1m
up €3.1m (+72.5%), from €4.3m to €7.4m
of which Financial charges: +€4.0m
- Gross operating margin +€317,456
up €317,456 (+163%), from €194,634 to €512,089
- Other operating charges -€230,144
down €230,144 (-48.9%), from €470,641 to €240,497
- Staff costs -€199,536
down €199,536 (-60.1%), from €331,885 to €132,349
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
€65.2m
Gross operating margin
+€317,456
Staff costs
+€199,536
Depreciation
+€33,490
Other operating charges
+€230,144
Other operating items
-€867,214
Financial income
-€25.3m
Financial charges
-€3.1m
Taxes
+€196,876
Result 31-12-2025
€37.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€56.1m
Investment
+€40.6m
Financing
-€50.7m
Cash 31-12-2024
€5.8m
From operations (derived)
+€56.1m
Net result for the year
+€37.0m
Depreciation
+€717,575
Receivables after one year
+€25.0m
Smaller working-capital items
+€152,622
Receivables within one year
-€6.2m
Deferred charges and accrued income
+€515,856
Other debts
-€942,416
Investment (derived)
+€40.6m
Investment in fixed assets (net)
+€22.5m
Current investments
+€18.1m
Financing
-€50.7m
Contributions, distributions and other
-€50.7m
Cash 31-12-2025
€51.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €361,419,936 | €346,853,627 | -€14.6m | -4.0% |
| Fixed assets | 21/28 | €183,201,420 | €160,010,659 | -€23.2m | -12.7% |
| Tangible fixed assets | 22/27 | €11,485,264 | €10,231,638 | -€1.3m | -10.9% |
| Land and buildings | 22 | €11,106,716 | €9,952,823 | -€1.2m | -10.4% |
| Plant, machinery and equipment | 23 | €201,648 | €136,679 | -€64,969 | -32.2% |
| Furniture and vehicles | 24 | €176,899 | €142,136 | -€34,763 | -19.7% |
| Financial fixed assets | 28 | €171,716,156 | €149,779,021 | -€21.9m | -12.8% |
| Current assets | 29/58 | €178,218,516 | €186,842,969 | +€8.6m | +4.8% |
| Amounts receivable after more than one year | 29 | €25,780,000 | €811,200 | -€25.0m | -96.9% |
| Other amounts receivable | 291 | €25,780,000 | €811,200 | -€25.0m | -96.9% |
| Stocks and contracts in progress | 3 | €15,170 | €10,768 | -€4,402 | -29.0% |
| Stocks | 30/36 | €15,170 | €10,768 | -€4,402 | -29.0% |
| Amounts receivable within one year | 40/41 | €3,555,031 | €9,802,919 | +€6.2m | +176% |
| Trade receivables | 40 | €91,615 | €153,931 | +€62,316 | +68.0% |
| Other amounts receivable | 41 | €3,463,416 | €9,648,989 | +€6.2m | +179% |
| Current investments | 50/53 | €142,470,924 | €124,387,168 | -€18.1m | -12.7% |
| Cash at bank and in hand | 54/58 | €5,765,036 | €51,714,416 | +€45.9m | +797% |
| Deferred charges and accrued income | 490/1 | €632,354 | €116,498 | -€515,856 | -81.6% |
| Total equity and liabilities | 10/49 | €361,419,936 | €346,853,627 | -€14.6m | -4.0% |
| Equity | 10/15 | €347,035,926 | €333,263,813 | -€13.8m | -4.0% |
| Contributions | 10/11 | €125,544,467 | €105,030,130 | -€20.5m | -16.3% |
| Capital | 10 | €125,544,467 | €105,030,130 | -€20.5m | -16.3% |
| Issued capital | 100 | €125,544,467 | €105,030,130 | -€20.5m | -16.3% |
| Revaluation surpluses | 12 | €14,300,525 | €14,315,847 | +€15,322 | +0.1% |
| Reserves | 13 | €207,190,933 | €213,917,835 | +€6.7m | +3.2% |
| Non-distributable reserves | 130/1 | €26,786,192 | €24,734,758 | -€2.1m | -7.7% |
| Legal reserve | 130 | €12,554,447 | €10,503,013 | -€2.1m | -16.3% |
| Own shares acquired | 1312 | €14,231,745 | €14,231,745 | = | 0.0% |
| Distributable reserves | 133 | €180,404,741 | €189,183,077 | +€8.8m | +4.9% |
| Amounts payable | 17/49 | €14,384,010 | €13,589,815 | -€794,196 | -5.5% |
| Amounts payable after more than one year | 17 | €2,950,000 | €2,950,000 | = | 0.0% |
| Financial debts | 170/4 | €2,950,000 | €2,950,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,431,938 | €10,638,428 | -€793,511 | -6.9% |
| Trade debts | 44 | €39,273 | €121,596 | +€82,323 | +210% |
| Suppliers | 440/4 | €39,273 | €121,596 | +€82,323 | +210% |
| Taxes, remuneration and social security | 45 | €307,675 | €374,258 | +€66,582 | +21.6% |
| Taxes | 450/3 | €262,222 | €327,361 | +€65,139 | +24.8% |
| Remuneration and social security | 454/9 | €45,453 | €46,897 | +€1,443 | +3.2% |
| Other amounts payable | 47/48 | €11,084,990 | €10,142,574 | -€942,416 | -8.5% |
| Accrued charges and deferred income | 492/3 | €2,072 | €1,387 | -€685 | -33.1% |
| Non-recurring operating income | 76A | - | €388,949 | +€388,949 | |
| Remuneration, social security and pensions | 62 | €331,885 | €132,349 | -€199,536 | -60.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €751,065 | €717,575 | -€33,490 | -4.5% |
| Other operating charges | 640/8 | €470,641 | €240,497 | -€230,144 | -48.9% |
| Non-recurring operating charges | 66A | €374,057 | €1,241,272 | +€867,214 | +232% |
| Gross operating margin | 9900 | €194,634 | €512,089 | +€317,456 | +163% |
| Operating profit (loss) | 9901 | -€1,733,014 | -€1,819,603 | -€86,589 | -5.0% |
| Financial income | 75/76B | €72,135,314 | €46,868,395 | -€25.3m | -35.0% |
| Recurring financial income | 75 | €14,962,473 | €11,132,598 | -€3.8m | -25.6% |
| Non-recurring financial income | 76B | €57,172,842 | €35,735,797 | -€21.4m | -37.5% |
| Financial charges | 65/66B | €4,283,106 | €7,389,020 | +€3.1m | +72.5% |
| Recurring financial charges | 65 | €1,380,539 | €5,405,421 | +€4.0m | +292% |
| Non-recurring financial charges | 66B | €2,902,568 | €1,983,599 | -€918,969 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €66,119,194 | €37,659,773 | -€28.5m | -43.0% |
| Income taxes | 67/77 | €894,083 | €697,207 | -€196,876 | -22.0% |
| Profit (loss) for the period | 9904 | €65,225,111 | €36,962,565 | -€28.3m | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,225,111 | €36,962,565 | -€28.3m | -43.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.