ENLIGHTENMENT: 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.
ENLIGHTENMENT
Largest movements
- Receivables within one year +€9,961
up €9,961 (+22.1%), from €45,166 to €55,128
of which Other amounts receivable: +€7,913
- Tangible fixed assets -€8,402
down €8,402 (-22.3%), from €37,738 to €29,335
of which Furniture and vehicles: -€10,924
- Debts after one year -€11,176
down €11,176 (-49.5%), from €22,556 to €11,379
- Reserves +€8,568
up €8,568 (+5.7%), from €149,008 to €157,576
- Tax, wage and social debts +€2,772
up €2,772 (+36.1%), from €7,670 to €10,443
- Trade debts +€2,206
up €2,206 (+58.3%), from €3,785 to €5,991
- Turnover +€160,353
new in 2025: €160,353
- Purchases and services +€139,692
new in 2025: €139,692
- Gross operating margin -€11,591
down €11,591 (-30.0%), from €38,695 to €27,104
- Taxes -€2,470
down €2,470 (-30.9%), from €7,982 to €5,512
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 | €203,070 | €205,800 | +€2,731 | +1.3% |
| Fixed assets | 21/28 | €37,738 | €29,335 | -€8,402 | -22.3% |
| Tangible fixed assets | 22/27 | €37,738 | €29,335 | -€8,402 | -22.3% |
| Furniture and vehicles | 24 | €36,541 | €25,617 | -€10,924 | -29.9% |
| Leasing and similar rights | 25 | - | €2,669 | +€2,669 | |
| Other tangible fixed assets | 26 | €1,197 | €1,050 | -€147 | -12.3% |
| Current assets | 29/58 | €165,332 | €176,465 | +€11,133 | +6.7% |
| Amounts receivable after more than one year | 29 | €116,017 | €116,017 | = | 0.0% |
| Other amounts receivable | 291 | €116,017 | €116,017 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45,166 | €55,128 | +€9,961 | +22.1% |
| Trade receivables | 40 | €14,726 | €16,775 | +€2,048 | +13.9% |
| Other amounts receivable | 41 | €30,440 | €38,353 | +€7,913 | +26.0% |
| Cash at bank and in hand | 54/58 | €3,092 | €4,370 | +€1,277 | +41.3% |
| Deferred charges and accrued income | 490/1 | €1,056 | €950 | -€106 | -10.0% |
| Total equity and liabilities | 10/49 | €203,070 | €205,800 | +€2,731 | +1.3% |
| Equity | 10/15 | €155,208 | €163,776 | +€8,568 | +5.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €149,008 | €157,576 | +€8,568 | +5.7% |
| Distributable reserves | 133 | €149,008 | €157,576 | +€8,568 | +5.7% |
| Amounts payable | 17/49 | €47,862 | €42,025 | -€5,837 | -12.2% |
| Amounts payable after more than one year | 17 | €22,556 | €11,379 | -€11,176 | -49.5% |
| Financial debts | 170/4 | €22,556 | €11,379 | -€11,176 | -49.5% |
| Amounts payable within one year | 42/48 | €25,306 | €30,645 | +€5,339 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €10,976 | €11,176 | +€200 | +1.8% |
| Financial debts | 43 | €2,874 | €3,035 | +€161 | +5.6% |
| Credit institutions | 430/8 | €2,874 | €3,035 | +€161 | +5.6% |
| Trade debts | 44 | €3,785 | €5,991 | +€2,206 | +58.3% |
| Suppliers | 440/4 | €3,785 | €5,991 | +€2,206 | +58.3% |
| Taxes, remuneration and social security | 45 | €7,670 | €10,443 | +€2,772 | +36.1% |
| Taxes | 450/3 | €7,670 | €10,443 | +€2,772 | +36.1% |
| Turnover | 70 | - | €160,353 | +€160,353 | |
| Non-recurring operating income | 76A | - | €1,357 | +€1,357 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €139,692 | +€139,692 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,250 | €12,884 | -€366 | -2.8% |
| Other operating charges | 640/8 | €4,043 | €3,518 | -€525 | -13.0% |
| Gross operating margin | 9900 | €38,695 | €27,104 | -€11,591 | -30.0% |
| Operating profit (loss) | 9901 | €21,402 | €10,702 | -€10,700 | -50.0% |
| Financial income | 75/76B | €3,999 | €4,388 | +€390 | +9.7% |
| Recurring financial income | 75 | €3,999 | €4,388 | +€390 | +9.7% |
| Financial charges | 65/66B | €1,525 | €1,010 | -€515 | -33.8% |
| Recurring financial charges | 65 | €1,525 | €1,010 | -€515 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €23,875 | €14,080 | -€9,795 | -41.0% |
| Income taxes | 67/77 | €7,982 | €5,512 | -€2,470 | -30.9% |
| Profit (loss) for the period | 9904 | €15,893 | €8,568 | -€7,325 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,893 | €8,568 | -€7,325 | -46.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.