ENKELS ELLEN: 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 ELLEN
Largest movements
- Cash +€19,582
up €19,582 (+18.7%), from €104,479 to €124,060
mainly Net result for the year (+€43,708) and Depreciation (+€12,848)
- Tangible fixed assets -€9,037
down €9,037 (-17.0%), from €53,288 to €44,251
- Receivables within one year -€7,474
down €7,474 (-46.1%), from €16,208 to €8,734
of which Other amounts receivable: -€7,369
- Profit (loss) carried forward +€20,208
up €20,208 (+19.6%), from €102,915 to €123,123
- Tax, wage and social debts -€8,860
down €8,860 (-47.1%), from €18,819 to €9,959
- Debts after one year -€7,344
down €7,344 (-27.6%), from €26,593 to €19,249
- Other debts -€6,653
down €6,653 (-78.3%), from €8,500 to €1,847
- Short-term financial debts +€4,063
new in 2025: €4,063
- Gross operating margin +€14,782
up €14,782 (+26.3%), from €56,260 to €71,043
- Depreciation +€5,639
up €5,639 (+78.2%), from €7,209 to €12,848
- Taxes +€1,607
up €1,607 (+16.5%), from €9,762 to €11,369
- Other operating charges +€824
up €824 (+183%), from €451 to €1,275
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 | €173,975 | €177,046 | +€3,071 | +1.8% |
| Fixed assets | 21/28 | €53,288 | €44,251 | -€9,037 | -17.0% |
| Tangible fixed assets | 22/27 | €53,288 | €44,251 | -€9,037 | -17.0% |
| Furniture and vehicles | 24 | €53,288 | €44,251 | -€9,037 | -17.0% |
| Current assets | 29/58 | €120,686 | €132,794 | +€12,108 | +10.0% |
| Amounts receivable within one year | 40/41 | €16,208 | €8,734 | -€7,474 | -46.1% |
| Trade receivables | 40 | €7,970 | €7,865 | -€105 | -1.3% |
| Other amounts receivable | 41 | €8,238 | €869 | -€7,369 | -89.5% |
| Cash at bank and in hand | 54/58 | €104,479 | €124,060 | +€19,582 | +18.7% |
| Total equity and liabilities | 10/49 | €173,975 | €177,046 | +€3,071 | +1.8% |
| Equity | 10/15 | €112,915 | €133,123 | +€20,208 | +17.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,915 | €123,123 | +€20,208 | +19.6% |
| Amounts payable | 17/49 | €61,060 | €43,922 | -€17,138 | -28.1% |
| Amounts payable after more than one year | 17 | €26,593 | €19,249 | -€7,344 | -27.6% |
| Financial debts | 170/4 | €26,593 | €19,249 | -€7,344 | -27.6% |
| Amounts payable within one year | 42/48 | €34,467 | €24,673 | -€9,793 | -28.4% |
| Current portion of amounts payable after more than one year | 42 | €7,006 | €7,345 | +€339 | +4.8% |
| Financial debts | 43 | - | €4,063 | +€4,063 | |
| Credit institutions | 430/8 | - | €4,063 | +€4,063 | |
| Trade debts | 44 | €142 | €1,461 | +€1,318 | +927% |
| Suppliers | 440/4 | €142 | €1,461 | +€1,318 | +927% |
| Taxes, remuneration and social security | 45 | €18,819 | €9,959 | -€8,860 | -47.1% |
| Taxes | 450/3 | €18,819 | €9,959 | -€8,860 | -47.1% |
| Other amounts payable | 47/48 | €8,500 | €1,847 | -€6,653 | -78.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,209 | €12,848 | +€5,639 | +78.2% |
| Other operating charges | 640/8 | €451 | €1,275 | +€824 | +183% |
| Gross operating margin | 9900 | €56,260 | €71,043 | +€14,782 | +26.3% |
| Operating profit (loss) | 9901 | €48,601 | €56,920 | +€8,320 | +17.1% |
| Financial charges | 65/66B | €1,299 | €1,843 | +€543 | +41.8% |
| Recurring financial charges | 65 | €1,299 | €1,843 | +€543 | +41.8% |
| Profit (loss) for the period before taxes | 9903 | €47,301 | €55,078 | +€7,776 | +16.4% |
| Income taxes | 67/77 | €9,762 | €11,369 | +€1,607 | +16.5% |
| Profit (loss) for the period | 9904 | €37,539 | €43,708 | +€6,169 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,539 | €43,708 | +€6,169 | +16.4% |
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 14 October 2026 via checked.be.