ENOFIN: 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.
ENOFIN
Largest movements
- Current investments +€70,000
new in 2025: €70,000
- Stocks and contracts +€51,168
new in 2025: €51,168
- Tangible fixed assets -€14,792
down €14,792 (-24.1%), from €61,390 to €46,598
- Financial fixed assets -€8,234
no longer reported in 2025 (was €8,234)
- Receivables within one year -€2,888
no longer reported in 2025 (was €2,888)
- Reserves +€45,389
up €45,389 (+105.6%), from €42,968 to €88,358
- Trade debts +€32,453
up €32,453 (+275.2%), from €11,792 to €44,244
- Tax, wage and social debts +€18,731
up €18,731 (+77.5%), from €24,168 to €42,898
- Debts after one year -€11,906
down €11,906 (-30.3%), from €39,327 to €27,421
- Other debts +€11,472
up €11,472 (+997.3%), from €1,150 to €12,622
- Gross operating margin +€17,995
up €17,995 (+27.9%), from €64,417 to €82,412
- Taxes +€4,607
up €4,607 (+31.4%), from €14,671 to €19,278
- Depreciation +€2,222
up €2,222 (+17.7%), from €12,570 to €14,792
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 | €138,361 | €234,949 | +€96,588 | +69.8% |
| Fixed assets | 21/28 | €69,623 | €46,598 | -€23,026 | -33.1% |
| Tangible fixed assets | 22/27 | €61,390 | €46,598 | -€14,792 | -24.1% |
| Furniture and vehicles | 24 | €61,390 | €46,598 | -€14,792 | -24.1% |
| Financial fixed assets | 28 | €8,234 | - | -€8,234 | |
| Current assets | 29/58 | €68,738 | €188,352 | +€119,613 | +174.0% |
| Stocks and contracts in progress | 3 | - | €51,168 | +€51,168 | |
| Stocks | 30/36 | - | €51,168 | +€51,168 | |
| Amounts receivable within one year | 40/41 | €2,888 | - | -€2,888 | |
| Trade receivables | 40 | €2,888 | - | -€2,888 | |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €63,379 | €66,135 | +€2,756 | +4.3% |
| Deferred charges and accrued income | 490/1 | €2,471 | €1,048 | -€1,423 | -57.6% |
| Total equity and liabilities | 10/49 | €138,361 | €234,949 | +€96,588 | +69.8% |
| Equity | 10/15 | €50,468 | €95,858 | +€45,389 | +89.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €42,968 | €88,358 | +€45,389 | +105.6% |
| Distributable reserves | 133 | €42,968 | €88,358 | +€45,389 | +105.6% |
| Amounts payable | 17/49 | €87,893 | €139,092 | +€51,199 | +58.3% |
| Amounts payable after more than one year | 17 | €39,327 | €27,421 | -€11,906 | -30.3% |
| Financial debts | 170/4 | €39,327 | €27,421 | -€11,906 | -30.3% |
| Amounts payable within one year | 42/48 | €48,567 | €111,671 | +€63,104 | +129.9% |
| Current portion of amounts payable after more than one year | 42 | €11,457 | €11,906 | +€449 | +3.9% |
| Trade debts | 44 | €11,792 | €44,244 | +€32,453 | +275.2% |
| Suppliers | 440/4 | €11,792 | €44,244 | +€32,453 | +275.2% |
| Taxes, remuneration and social security | 45 | €24,168 | €42,898 | +€18,731 | +77.5% |
| Taxes | 450/3 | €24,168 | €42,898 | +€18,731 | +77.5% |
| Other amounts payable | 47/48 | €1,150 | €12,622 | +€11,472 | +997.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,570 | €14,792 | +€2,222 | +17.7% |
| Other operating charges | 640/8 | €1,673 | €1,125 | -€548 | -32.7% |
| Gross operating margin | 9900 | €64,417 | €82,412 | +€17,995 | +27.9% |
| Operating profit (loss) | 9901 | €50,173 | €66,494 | +€16,321 | +32.5% |
| Financial charges | 65/66B | €1,969 | €1,827 | -€141 | -7.2% |
| Recurring financial charges | 65 | €1,969 | €1,827 | -€141 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €48,205 | €64,667 | +€16,462 | +34.2% |
| Income taxes | 67/77 | €14,671 | €19,278 | +€4,607 | +31.4% |
| Profit (loss) for the period | 9904 | €33,533 | €45,389 | +€11,856 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,533 | €45,389 | +€11,856 | +35.4% |
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.