ENLIGHTED: what changed
ENLIGHTED
Largest movements
- Stocks and contracts +€186,846
up €186,846 (+718%), from €26,015 to €212,861
of which Stocks: +€212,861
- Cash -€93,228
down €93,228 (-71.7%), from €130,062 to €36,834
mainly Stocks and contracts (-€186,846) and Contributions, distributions and other (-€33,921)
- Tangible fixed assets -€14,011
down €14,011 (-7.9%), from €176,712 to €162,701
of which Land and buildings: -€8,476
- Debts after one year +€135,067
up €135,067 (+92.7%), from €145,773 to €280,840
- Reserves -€23,583
down €23,583 (-16.4%), from €143,456 to €119,873
- Trade debts -€17,321
down €17,321 (-25.1%), from €69,013 to €51,692
- Tax, wage and social debts -€10,146
down €10,146 (-33.9%), from €29,929 to €19,784
of which Taxes: -€9,518
- Gross operating margin -€53,745
down €53,745 (-20.1%), from €266,732 to €212,987
- Staff costs +€23,256
up €23,256 (+16.1%), from €144,575 to €167,831
- Taxes -€20,816
down €20,816 (-69.4%), from €29,992 to €9,176
- Depreciation -€3,178
down €3,178 (-18.5%), from €17,189 to €14,011
Change in the result, 2024 to 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.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €443,788 | €528,053 | +€84,265 | +19.0% |
| Fixed assets | 21/28 | €176,712 | €162,701 | -€14,011 | -7.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €176,712 | €162,701 | -€14,011 | -7.9% |
| Land and buildings | 22 | €163,401 | €154,926 | -€8,476 | -5.2% |
| Plant, machinery and equipment | 23 | €4,110 | €211 | -€3,900 | -94.9% |
| Furniture and vehicles | 24 | €9,200 | €7,564 | -€1,636 | -17.8% |
| Current assets | 29/58 | €267,076 | €365,352 | +€98,276 | +36.8% |
| Stocks and contracts in progress | 3 | €26,015 | €212,861 | +€186,846 | +718% |
| Stocks | 30/36 | - | €212,861 | +€212,861 | |
| Contracts in progress | 37 | €26,015 | - | -€26,015 | |
| Amounts receivable within one year | 40/41 | €110,999 | €115,658 | +€4,658 | +4.2% |
| Trade receivables | 40 | €93,397 | €109,292 | +€15,895 | +17.0% |
| Other amounts receivable | 41 | €17,602 | €6,365 | -€11,237 | -63.8% |
| Cash at bank and in hand | 54/58 | €130,062 | €36,834 | -€93,228 | -71.7% |
| Total equity and liabilities | 10/49 | €443,788 | €528,053 | +€84,265 | +19.0% |
| Equity | 10/15 | €166,986 | €143,403 | -€23,583 | -14.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €143,456 | €119,873 | -€23,583 | -16.4% |
| Distributable reserves | 133 | €143,456 | €119,873 | -€23,583 | -16.4% |
| Profit (loss) carried forward | 14 | €17,330 | €17,330 | = | 0.0% |
| Amounts payable | 17/49 | €276,802 | €384,650 | +€107,848 | +39.0% |
| Amounts payable after more than one year | 17 | €145,773 | €280,840 | +€135,067 | +92.7% |
| Financial debts | 170/4 | €145,773 | €280,840 | +€135,067 | +92.7% |
| Amounts payable within one year | 42/48 | €130,710 | €103,811 | -€26,900 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €14,358 | €14,933 | +€575 | +4.0% |
| Financial debts | 43 | €3,410 | €3,402 | -€8 | -0.2% |
| Credit institutions | 430/8 | €3,410 | €3,402 | -€8 | -0.2% |
| Trade debts | 44 | €69,013 | €51,692 | -€17,321 | -25.1% |
| Suppliers | 440/4 | €69,013 | €51,692 | -€17,321 | -25.1% |
| Taxes, remuneration and social security | 45 | €29,929 | €19,784 | -€10,146 | -33.9% |
| Taxes | 450/3 | €15,343 | €5,825 | -€9,518 | -62.0% |
| Remuneration and social security | 454/9 | €14,586 | €13,959 | -€628 | -4.3% |
| Other amounts payable | 47/48 | €14,000 | €14,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €319 | - | -€319 | |
| Remuneration, social security and pensions | 62 | €144,575 | €167,831 | +€23,256 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,189 | €14,011 | -€3,178 | -18.5% |
| Other operating charges | 640/8 | €1,933 | €3,712 | +€1,779 | +92.0% |
| Gross operating margin | 9900 | €266,732 | €212,987 | -€53,745 | -20.1% |
| Operating profit (loss) | 9901 | €103,034 | €27,432 | -€75,602 | -73.4% |
| Financial income | 75/76B | - | €212 | +€212 | |
| Recurring financial income | 75 | - | €212 | +€212 | |
| Financial charges | 65/66B | €6,417 | €8,130 | +€1,713 | +26.7% |
| Recurring financial charges | 65 | €6,417 | €8,130 | +€1,713 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €96,617 | €19,514 | -€77,103 | -79.8% |
| Income taxes | 67/77 | €29,992 | €9,176 | -€20,816 | -69.4% |
| Profit (loss) for the period | 9904 | €66,625 | €10,338 | -€56,287 | -84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,625 | €10,338 | -€56,287 | -84.5% |
Next steps
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 5 November 2026 via checked.be.