ENNOVATOR: 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.
ENNOVATOR
Largest movements
- Receivables within one year -€72,347
down €72,347 (-33.8%), from €214,133 to €141,786
of which Trade receivables: -€97,147
- Tangible fixed assets -€40,243
down €40,243 (-11.8%), from €340,939 to €300,696
of which Land and buildings: -€23,882
- Cash -€19,189
down €19,189 (-56.6%), from €33,901 to €14,712
mainly Trade debts (-€36,258) and Tax, wage and social debts (-€23,321)
- Deferred charges and accrued income +€14,456
up €14,456 (+348%), from €4,149 to €18,605
- Trade debts -€36,258
down €36,258 (-60.3%), from €60,166 to €23,908
- Reserves -€27,998
down €27,998 (-17.1%), from €163,701 to €135,703
- Tax, wage and social debts -€23,321
down €23,321 (-87.0%), from €26,798 to €3,477
- Debts after one year -€21,980
down €21,980 (-10.6%), from €208,285 to €186,305
- Other debts -€8,098
down €8,098 (-6.9%), from €117,725 to €109,627
- Gross operating margin -€46,749
down €46,749 (-57.6%), from €81,225 to €34,476
- Taxes -€9,761
down €9,761 (-98.0%), from €9,961 to €200
- Depreciation -€5,156
down €5,156 (-11.0%), from €46,952 to €41,796
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 | €604,523 | €487,200 | -€117,322 | -19.4% |
| Fixed assets | 21/28 | €352,339 | €312,096 | -€40,243 | -11.4% |
| Tangible fixed assets | 22/27 | €340,939 | €300,696 | -€40,243 | -11.8% |
| Land and buildings | 22 | €295,890 | €272,008 | -€23,882 | -8.1% |
| Plant, machinery and equipment | 23 | €16,664 | €14,064 | -€2,600 | -15.6% |
| Furniture and vehicles | 24 | €12,400 | €5,136 | -€7,264 | -58.6% |
| Other tangible fixed assets | 26 | €15,984 | €9,487 | -€6,497 | -40.6% |
| Financial fixed assets | 28 | €11,400 | €11,400 | = | 0.0% |
| Current assets | 29/58 | €252,184 | €175,104 | -€77,080 | -30.6% |
| Amounts receivable within one year | 40/41 | €214,133 | €141,786 | -€72,347 | -33.8% |
| Trade receivables | 40 | €199,095 | €101,948 | -€97,147 | -48.8% |
| Other amounts receivable | 41 | €15,039 | €39,839 | +€24,800 | +165% |
| Cash at bank and in hand | 54/58 | €33,901 | €14,712 | -€19,189 | -56.6% |
| Deferred charges and accrued income | 490/1 | €4,149 | €18,605 | +€14,456 | +348% |
| Total equity and liabilities | 10/49 | €604,523 | €487,200 | -€117,322 | -19.4% |
| Equity | 10/15 | €169,901 | €141,903 | -€27,998 | -16.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €163,701 | €135,703 | -€27,998 | -17.1% |
| Distributable reserves | 133 | €163,701 | €135,703 | -€27,998 | -17.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €434,622 | €345,297 | -€89,325 | -20.6% |
| Amounts payable after more than one year | 17 | €208,285 | €186,305 | -€21,980 | -10.6% |
| Financial debts | 170/4 | €208,285 | €186,305 | -€21,980 | -10.6% |
| Amounts payable within one year | 42/48 | €226,337 | €158,992 | -€67,345 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €21,648 | €21,980 | +€332 | +1.5% |
| Trade debts | 44 | €60,166 | €23,908 | -€36,258 | -60.3% |
| Suppliers | 440/4 | €60,166 | €23,908 | -€36,258 | -60.3% |
| Taxes, remuneration and social security | 45 | €26,798 | €3,477 | -€23,321 | -87.0% |
| Taxes | 450/3 | €26,798 | €3,477 | -€23,321 | -87.0% |
| Other amounts payable | 47/48 | €117,725 | €109,627 | -€8,098 | -6.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,952 | €41,796 | -€5,156 | -11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,435 | €5,050 | +€615 | +13.9% |
| Gross operating margin | 9900 | €81,225 | €34,476 | -€46,749 | -57.6% |
| Operating profit (loss) | 9901 | €29,838 | -€12,370 | -€42,208 | |
| Financial income | 75/76B | €0 | €141 | +€141 | |
| Recurring financial income | 75 | €0 | €141 | +€141 | |
| Financial charges | 65/66B | €4,047 | €3,569 | -€478 | -11.8% |
| Recurring financial charges | 65 | €4,047 | €3,569 | -€478 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €25,791 | -€15,798 | -€41,589 | |
| Income taxes | 67/77 | €9,961 | €200 | -€9,761 | -98.0% |
| Profit (loss) for the period | 9904 | €15,830 | -€15,998 | -€31,828 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,830 | -€15,998 | -€31,828 |
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 27 October 2026 via checked.be.