ENOA: 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.
ENOA
Largest movements
- Receivables within one year -€15,567
down €15,567 (-26.4%), from €58,887 to €43,319
of which Trade receivables: -€15,786
- Tangible fixed assets -€12,074
down €12,074 (-16.0%), from €75,549 to €63,475
of which Furniture and vehicles: -€13,078
- Cash +€10,971
up €10,971 (+71.7%), from €15,295 to €26,266
mainly Depreciation (+€21,150) and Receivables within one year (+€15,567)
- Intangible fixed assets -€1,868
down €1,868 (-99.7%), from €1,873 to €5
- Profit (loss) carried forward +€9,573
up €9,573 (+200.5%), from €4,775 to €14,349
- Advances received -€9,000
down €9,000 (-100.0%), from €9,000 to €0
- Debts after one year -€8,924
down €8,924 (-27.9%), from €31,965 to €23,041
- Tax, wage and social debts -€6,439
down €6,439 (-43.2%), from €14,908 to €8,469
of which Taxes: -€9,771
- Other debts -€3,130
down €3,130 (-5.0%), from €62,934 to €59,804
- Gross operating margin -€6,195
down €6,195 (-13.0%), from €47,635 to €41,441
- Depreciation +€4,356
up €4,356 (+25.9%), from €16,793 to €21,150
- Taxes -€2,793
down €2,793 (-38.3%), from €7,291 to €4,498
- Financial charges +€1,722
up €1,722 (+84.4%), from €2,041 to €3,762
- Other operating charges -€1,294
down €1,294 (-44.7%), from €2,895 to €1,601
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 | €155,293 | €137,004 | -€18,289 | -11.8% |
| Fixed assets | 21/28 | €77,422 | €63,480 | -€13,941 | -18.0% |
| Intangible fixed assets | 21 | €1,873 | €5 | -€1,868 | -99.7% |
| Tangible fixed assets | 22/27 | €75,549 | €63,475 | -€12,074 | -16.0% |
| Land and buildings | 22 | €5,155 | €3,846 | -€1,309 | -25.4% |
| Plant, machinery and equipment | 23 | €3,918 | €6,232 | +€2,314 | +59.1% |
| Furniture and vehicles | 24 | €66,475 | €53,397 | -€13,078 | -19.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €77,871 | €73,523 | -€4,348 | -5.6% |
| Amounts receivable within one year | 40/41 | €58,887 | €43,319 | -€15,567 | -26.4% |
| Trade receivables | 40 | €57,082 | €41,296 | -€15,786 | -27.7% |
| Other amounts receivable | 41 | €1,805 | €2,023 | +€219 | +12.1% |
| Cash at bank and in hand | 54/58 | €15,295 | €26,266 | +€10,971 | +71.7% |
| Deferred charges and accrued income | 490/1 | €3,689 | €3,938 | +€249 | +6.8% |
| Total equity and liabilities | 10/49 | €155,293 | €137,004 | -€18,289 | -11.8% |
| Equity | 10/15 | €24,775 | €34,349 | +€9,573 | +38.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €4,775 | €14,349 | +€9,573 | +200.5% |
| Amounts payable | 17/49 | €130,518 | €102,655 | -€27,862 | -21.3% |
| Amounts payable after more than one year | 17 | €31,965 | €23,041 | -€8,924 | -27.9% |
| Financial debts | 170/4 | €31,965 | €23,041 | -€8,924 | -27.9% |
| Amounts payable within one year | 42/48 | €98,552 | €79,614 | -€18,939 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €8,586 | €8,924 | +€338 | +3.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,124 | €2,416 | -€707 | -22.6% |
| Suppliers | 440/4 | €3,124 | €2,416 | -€707 | -22.6% |
| Advances received on contracts in progress | 46 | €9,000 | €0 | -€9,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,908 | €8,469 | -€6,439 | -43.2% |
| Taxes | 450/3 | €14,908 | €5,137 | -€9,771 | -65.5% |
| Remuneration and social security | 454/9 | - | €3,332 | +€3,332 | |
| Other amounts payable | 47/48 | €62,934 | €59,804 | -€3,130 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,793 | €21,150 | +€4,356 | +25.9% |
| Other operating charges | 640/8 | €2,895 | €1,601 | -€1,294 | -44.7% |
| Non-recurring operating charges | 66A | - | €855 | +€855 | |
| Gross operating margin | 9900 | €47,635 | €41,441 | -€6,195 | -13.0% |
| Operating profit (loss) | 9901 | €27,947 | €17,834 | -€10,112 | -36.2% |
| Financial charges | 65/66B | €2,041 | €3,762 | +€1,722 | +84.4% |
| Recurring financial charges | 65 | €2,041 | €3,762 | +€1,722 | +84.4% |
| Profit (loss) for the period before taxes | 9903 | €25,906 | €14,072 | -€11,834 | -45.7% |
| Income taxes | 67/77 | €7,291 | €4,498 | -€2,793 | -38.3% |
| Profit (loss) for the period | 9904 | €18,615 | €9,573 | -€9,041 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,615 | €9,573 | -€9,041 | -48.6% |
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 30 September 2026 via checked.be.