ENLUCID: 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.
ENLUCID
Largest movements
- Cash +€274,912
up €274,912 (+266%), from €103,507 to €378,419
mainly Current investments (+€204,556) and Net result for the year (+€71,713)
- Current investments -€204,556
down €204,556 (-100%), from €204,556 to €0
- Tangible fixed assets -€34,111
down €34,111 (-37.3%), from €91,555 to €57,444
- Receivables within one year -€15,975
down €15,975 (-25.8%), from €61,801 to €45,826
of which Other amounts receivable: -€18,496
- Reserves +€56,775
up €56,775 (+16.4%), from €346,829 to €403,604
of which Distributable reserves: +€63,586
- Debts after one year -€23,695
down €23,695 (-65.8%), from €36,027 to €12,332
- Current portion of long-term debt -€12,740
down €12,740 (-35.0%), from €36,435 to €23,695
- Gross operating margin +€13,009
up €13,009 (+10.9%), from €119,805 to €132,814
- Taxes +€4,411
up €4,411 (+16.3%), from €27,105 to €31,515
- Financial charges -€1,532
down €1,532 (-33.8%), from €4,538 to €3,006
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 | €464,788 | €485,123 | +€20,335 | +4.4% |
| Fixed assets | 21/28 | €92,905 | €58,794 | -€34,111 | -36.7% |
| Tangible fixed assets | 22/27 | €91,555 | €57,444 | -€34,111 | -37.3% |
| Furniture and vehicles | 24 | €91,555 | €57,444 | -€34,111 | -37.3% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €371,883 | €426,329 | +€54,446 | +14.6% |
| Amounts receivable within one year | 40/41 | €61,801 | €45,826 | -€15,975 | -25.8% |
| Trade receivables | 40 | €35,736 | €38,257 | +€2,521 | +7.1% |
| Other amounts receivable | 41 | €26,065 | €7,569 | -€18,496 | -71.0% |
| Current investments | 50/53 | €204,556 | €0 | -€204,556 | -100% |
| Cash at bank and in hand | 54/58 | €103,507 | €378,419 | +€274,912 | +266% |
| Deferred charges and accrued income | 490/1 | €2,019 | €2,084 | +€65 | +3.2% |
| Total equity and liabilities | 10/49 | €464,788 | €485,123 | +€20,335 | +4.4% |
| Equity | 10/15 | €365,429 | €422,204 | +€56,775 | +15.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €346,829 | €403,604 | +€56,775 | +16.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,119 | €16,308 | -€6,811 | -29.5% |
| Distributable reserves | 133 | €321,850 | €385,436 | +€63,586 | +19.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €5,780 | €4,077 | -€1,703 | -29.5% |
| Deferred taxes | 168 | €5,780 | €4,077 | -€1,703 | -29.5% |
| Amounts payable | 17/49 | €93,580 | €58,842 | -€34,738 | -37.1% |
| Amounts payable after more than one year | 17 | €36,027 | €12,332 | -€23,695 | -65.8% |
| Financial debts | 170/4 | €36,027 | €12,332 | -€23,695 | -65.8% |
| Amounts payable within one year | 42/48 | €57,553 | €46,510 | -€11,043 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €36,435 | €23,695 | -€12,740 | -35.0% |
| Trade debts | 44 | €7,122 | €3,972 | -€3,150 | -44.2% |
| Suppliers | 440/4 | €7,122 | €3,972 | -€3,150 | -44.2% |
| Taxes, remuneration and social security | 45 | €13,996 | €18,843 | +€4,847 | +34.6% |
| Taxes | 450/3 | €7,917 | €12,719 | +€4,802 | +60.7% |
| Remuneration and social security | 454/9 | €6,079 | €6,124 | +€45 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,563 | €34,111 | -€452 | -1.3% |
| Other operating charges | 640/8 | €437 | €582 | +€145 | +33.2% |
| Gross operating margin | 9900 | €119,805 | €132,814 | +€13,009 | +10.9% |
| Operating profit (loss) | 9901 | €84,804 | €98,120 | +€13,316 | +15.7% |
| Financial income | 75/76B | €7,335 | €6,412 | -€923 | -12.6% |
| Recurring financial income | 75 | €7,335 | €6,412 | -€923 | -12.6% |
| Financial charges | 65/66B | €4,538 | €3,006 | -€1,532 | -33.8% |
| Recurring financial charges | 65 | €4,538 | €3,006 | -€1,532 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €87,601 | €101,526 | +€13,925 | +15.9% |
| Transfer from deferred taxes | 780 | €1,703 | €1,703 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €27,105 | €31,515 | +€4,411 | +16.3% |
| Profit (loss) for the period | 9904 | €62,199 | €71,713 | +€9,514 | +15.3% |
| Transfer from tax-exempt reserves | 789 | €6,811 | €6,811 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €69,010 | €78,524 | +€9,514 | +13.8% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.