ENO: 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.
ENO
Largest movements
- Cash -€31,200
down €31,200 (-44.9%), from €69,428 to €38,229
mainly Debts after one year (-€50,000) and Other debts (-€5,316)
- Tangible fixed assets -€19,843
down €19,843 (-7.0%), from €283,212 to €263,369
- Debts after one year -€50,000
down €50,000 (-33.3%), from €150,000 to €100,000
- Profit (loss) carried forward +€6,429
up €6,429 (+9.6%), from -€66,809 to -€60,381
- Other debts -€5,316
no longer reported in 2025 (was €5,316)
- Depreciation -€7,826
down €7,826 (-28.3%), from €27,669 to €19,843
- Financial charges -€7,595
down €7,595 (-99.4%), from €7,640 to €45
- Gross operating margin +€457
up €457 (+1.6%), from €28,369 to €28,826
- Other operating charges +€291
up €291 (+13.1%), from €2,219 to €2,510
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 | €352,646 | €301,603 | -€51,043 | -14.5% |
| Fixed assets | 21/28 | €283,212 | €263,369 | -€19,843 | -7.0% |
| Tangible fixed assets | 22/27 | €283,212 | €263,369 | -€19,843 | -7.0% |
| Land and buildings | 22 | €283,212 | €263,369 | -€19,843 | -7.0% |
| Current assets | 29/58 | €69,434 | €38,234 | -€31,200 | -44.9% |
| Amounts receivable within one year | 40/41 | €6 | €6 | = | 0.0% |
| Trade receivables | 40 | - | €6 | +€6 | |
| Other amounts receivable | 41 | €6 | - | -€6 | |
| Cash at bank and in hand | 54/58 | €69,428 | €38,229 | -€31,200 | -44.9% |
| Total equity and liabilities | 10/49 | €352,646 | €301,603 | -€51,043 | -14.5% |
| Equity | 10/15 | €193,579 | €198,766 | +€5,188 | +2.7% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €81,860 | €81,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,860 | €16,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,860 | €16,860 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,809 | -€60,381 | +€6,429 | +9.6% |
| Investment grants | 15 | €9,928 | €8,687 | -€1,241 | -12.5% |
| Provisions and deferred taxes | 16 | €1,800 | €1,800 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,800 | €1,800 | = | 0.0% |
| Other liabilities and charges | 164/5 | €1,800 | €1,800 | = | 0.0% |
| Amounts payable | 17/49 | €157,267 | €101,037 | -€56,230 | -35.8% |
| Amounts payable after more than one year | 17 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Financial debts | 170/4 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Amounts payable within one year | 42/48 | €5,316 | - | -€5,316 | |
| Other amounts payable | 47/48 | €5,316 | - | -€5,316 | |
| Accrued charges and deferred income | 492/3 | €1,951 | €1,037 | -€914 | -46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,669 | €19,843 | -€7,826 | -28.3% |
| Other operating charges | 640/8 | €2,219 | €2,510 | +€291 | +13.1% |
| Gross operating margin | 9900 | €28,369 | €28,826 | +€457 | +1.6% |
| Operating profit (loss) | 9901 | -€1,519 | €6,473 | +€7,993 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €7,640 | €45 | -€7,595 | -99.4% |
| Recurring financial charges | 65 | €7,640 | €45 | -€7,595 | -99.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,159 | €6,429 | +€15,588 | |
| Profit (loss) for the period | 9904 | -€9,159 | €6,429 | +€15,588 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,159 | €6,429 | +€15,588 |
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 1 October 2026 via checked.be.