ENKELS: 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.
ENKELS
Largest movements
- Cash +€22,950
up €22,950 (+40.3%), from €56,953 to €79,903
mainly Advances received (+€25,719) and Receivables within one year (+€14,874)
- Receivables within one year -€14,874
down €14,874 (-39.0%), from €38,179 to €23,305
of which Trade receivables: -€11,005
- Stocks and contracts -€12,493
down €12,493 (-21.0%), from €59,544 to €47,051
- Tangible fixed assets -€12,201
down €12,201 (-34.7%), from €35,144 to €22,942
of which Leasing and similar rights: -€11,360
- Financial fixed assets -€5,260
down €5,260 (-99.4%), from €5,290 to €30
- Trade debts -€32,275
down €32,275 (-89.7%), from €35,983 to €3,708
- Advances received +€25,719
new in 2025: €25,719
- Other debts -€15,034
down €15,034 (-92.8%), from €16,196 to €1,162
- Debts after one year -€11,243
down €11,243 (-46.6%), from €24,111 to €12,868
- Profit (loss) carried forward +€11,003
up €11,003 (+49.9%), from -€22,034 to -€11,031
- Gross operating margin +€22,952
up €22,952, from -€1,276 to €21,676
- Financial charges -€4,138
down €4,138 (-52.6%), from €7,863 to €3,725
- Financial income -€870
down €870 (-12.3%), from €7,055 to €6,186
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €197,784 | €174,999 | -€22,784 | -11.5% |
| Fixed assets | 21/28 | €40,434 | €22,972 | -€17,462 | -43.2% |
| Tangible fixed assets | 22/27 | €35,144 | €22,942 | -€12,201 | -34.7% |
| Plant, machinery and equipment | 23 | €1,774 | €1,218 | -€555 | -31.3% |
| Furniture and vehicles | 24 | €286 | - | -€286 | |
| Leasing and similar rights | 25 | €33,084 | €21,724 | -€11,360 | -34.3% |
| Financial fixed assets | 28 | €5,290 | €30 | -€5,260 | -99.4% |
| Current assets | 29/58 | €157,350 | €152,027 | -€5,323 | -3.4% |
| Stocks and contracts in progress | 3 | €59,544 | €47,051 | -€12,493 | -21.0% |
| Stocks | 30/36 | €59,544 | €47,051 | -€12,493 | -21.0% |
| Amounts receivable within one year | 40/41 | €38,179 | €23,305 | -€14,874 | -39.0% |
| Trade receivables | 40 | €27,958 | €16,953 | -€11,005 | -39.4% |
| Other amounts receivable | 41 | €10,221 | €6,352 | -€3,869 | -37.9% |
| Cash at bank and in hand | 54/58 | €56,953 | €79,903 | +€22,950 | +40.3% |
| Deferred charges and accrued income | 490/1 | €2,673 | €1,768 | -€906 | -33.9% |
| Total equity and liabilities | 10/49 | €197,784 | €174,999 | -€22,784 | -11.5% |
| Equity | 10/15 | €109,082 | €120,085 | +€11,003 | +10.1% |
| Contributions | 10/11 | €42,000 | €42,000 | = | 0.0% |
| Reserves | 13 | €89,116 | €89,116 | = | 0.0% |
| Distributable reserves | 133 | €89,116 | €89,116 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,034 | -€11,031 | +€11,003 | +49.9% |
| Amounts payable | 17/49 | €88,702 | €54,914 | -€33,788 | -38.1% |
| Amounts payable after more than one year | 17 | €24,111 | €12,868 | -€11,243 | -46.6% |
| Financial debts | 170/4 | €24,111 | €12,868 | -€11,243 | -46.6% |
| Amounts payable within one year | 42/48 | €63,434 | €41,831 | -€21,603 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €10,923 | €11,243 | +€320 | +2.9% |
| Trade debts | 44 | €35,983 | €3,708 | -€32,275 | -89.7% |
| Suppliers | 440/4 | €35,983 | €3,708 | -€32,275 | -89.7% |
| Advances received on contracts in progress | 46 | - | €25,719 | +€25,719 | |
| Taxes, remuneration and social security | 45 | €332 | - | -€332 | |
| Taxes | 450/3 | €332 | - | -€332 | |
| Other amounts payable | 47/48 | €16,196 | €1,162 | -€15,034 | -92.8% |
| Accrued charges and deferred income | 492/3 | €1,157 | €215 | -€942 | -81.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,087 | €12,201 | +€114 | +0.9% |
| Other operating charges | 640/8 | €1,009 | €931 | -€77 | -7.6% |
| Gross operating margin | 9900 | -€1,276 | €21,676 | +€22,952 | |
| Operating profit (loss) | 9901 | -€14,372 | €8,543 | +€22,915 | |
| Financial income | 75/76B | €7,055 | €6,186 | -€870 | -12.3% |
| Recurring financial income | 75 | €7,055 | €6,186 | -€870 | -12.3% |
| Financial charges | 65/66B | €7,863 | €3,725 | -€4,138 | -52.6% |
| Recurring financial charges | 65 | €7,863 | €3,725 | -€4,138 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,180 | €11,003 | +€26,183 | |
| Profit (loss) for the period | 9904 | -€15,180 | €11,003 | +€26,183 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,180 | €11,003 | +€26,183 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.