ENMO: 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.
ENMO
Largest movements
- Receivables within one year -€208,086
down €208,086 (-23.8%), from €876,109 to €668,023
of which Trade receivables: -€233,479
- Cash +€54,071
up €54,071 (+89.3%), from €60,555 to €114,626
mainly Receivables within one year (+€208,086) and Trade debts (+€77,684)
- Stocks and contracts +€48,460
up €48,460 (+88.4%), from €54,817 to €103,276
- Tangible fixed assets +€38,994
up €38,994 (+104%), from €37,476 to €76,470
of which Furniture and vehicles: +€31,332
- Other debts -€143,704
down €143,704 (-39.1%), from €367,913 to €224,208
- Trade debts +€77,684
up €77,684 (+19.7%), from €393,678 to €471,362
- Gross operating margin +€29,550
up €29,550 (+13.7%), from €215,133 to €244,683
- Financial income +€9,583
up €9,583 (+16,185%), from €59 to €9,642
of which Non-recurring financial income: +€8,805
- Depreciation +€5,474
up €5,474 (+61.8%), from €8,864 to €14,338
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 | €1,089,883 | €1,029,726 | -€60,157 | -5.5% |
| Fixed assets | 21/28 | €90,753 | €129,746 | +€38,994 | +43.0% |
| Tangible fixed assets | 22/27 | €37,476 | €76,470 | +€38,994 | +104% |
| Plant, machinery and equipment | 23 | €29,400 | €37,062 | +€7,662 | +26.1% |
| Furniture and vehicles | 24 | €8,076 | €39,407 | +€31,332 | +388% |
| Financial fixed assets | 28 | €53,277 | €53,277 | = | 0.0% |
| Current assets | 29/58 | €999,130 | €899,979 | -€99,151 | -9.9% |
| Stocks and contracts in progress | 3 | €54,817 | €103,276 | +€48,460 | +88.4% |
| Stocks | 30/36 | €54,817 | €103,276 | +€48,460 | +88.4% |
| Amounts receivable within one year | 40/41 | €876,109 | €668,023 | -€208,086 | -23.8% |
| Trade receivables | 40 | €459,803 | €226,323 | -€233,479 | -50.8% |
| Other amounts receivable | 41 | €416,307 | €441,700 | +€25,393 | +6.1% |
| Cash at bank and in hand | 54/58 | €60,555 | €114,626 | +€54,071 | +89.3% |
| Deferred charges and accrued income | 490/1 | €7,650 | €14,054 | +€6,404 | +83.7% |
| Total equity and liabilities | 10/49 | €1,089,883 | €1,029,726 | -€60,157 | -5.5% |
| Equity | 10/15 | €23,020 | €27,346 | +€4,326 | +18.8% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €52,011 | €52,011 | = | 0.0% |
| Distributable reserves | 133 | €52,011 | €52,011 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,442 | -€45,116 | +€4,326 | +8.7% |
| Amounts payable | 17/49 | €1,066,862 | €1,002,379 | -€64,483 | -6.0% |
| Amounts payable after more than one year | 17 | €160,000 | €160,000 | = | 0.0% |
| Financial debts | 170/4 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €903,697 | €842,106 | -€61,591 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €393,678 | €471,362 | +€77,684 | +19.7% |
| Suppliers | 440/4 | €393,678 | €471,362 | +€77,684 | +19.7% |
| Taxes, remuneration and social security | 45 | €42,107 | €46,536 | +€4,429 | +10.5% |
| Taxes | 450/3 | €16,439 | €20,526 | +€4,087 | +24.9% |
| Remuneration and social security | 454/9 | €25,668 | €26,010 | +€343 | +1.3% |
| Other amounts payable | 47/48 | €367,913 | €224,208 | -€143,704 | -39.1% |
| Accrued charges and deferred income | 492/3 | €3,165 | €273 | -€2,892 | -91.4% |
| Remuneration, social security and pensions | 62 | €218,427 | €217,762 | -€665 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,864 | €14,338 | +€5,474 | +61.8% |
| Other operating charges | 640/8 | €1,696 | €1,731 | +€35 | +2.1% |
| Gross operating margin | 9900 | €215,133 | €244,683 | +€29,550 | +13.7% |
| Operating profit (loss) | 9901 | -€13,853 | €10,853 | +€24,706 | |
| Financial income | 75/76B | €59 | €9,642 | +€9,583 | +16,185% |
| Recurring financial income | 75 | €59 | €837 | +€777 | +1,313% |
| Non-recurring financial income | 76B | - | €8,805 | +€8,805 | |
| Financial charges | 65/66B | €13,553 | €15,919 | +€2,366 | +17.5% |
| Recurring financial charges | 65 | €13,553 | €15,919 | +€2,366 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | -€27,347 | €4,576 | +€31,923 | |
| Income taxes | 67/77 | €267 | €250 | -€16 | -6.2% |
| Profit (loss) for the period | 9904 | -€27,614 | €4,326 | +€31,940 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,614 | €4,326 | +€31,940 |
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 15 October 2026 via checked.be.