ENORDICS: 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.
ENORDICS
Largest movements
- Tangible fixed assets -€37,425
down €37,425 (-4.2%), from €888,666 to €851,240
of which Land and buildings: -€25,347
- Receivables within one year -€14,243
down €14,243 (-26.7%), from €53,406 to €39,163
of which Trade receivables: -€10,409
- Debts after one year -€46,684
down €46,684 (-10.7%), from €435,358 to €388,673
- Tax, wage and social debts -€20,053
down €20,053 (-49.0%), from €40,961 to €20,907
- Reserves +€13,954
up €13,954 (+4.1%), from €339,337 to €353,291
- Trade debts -€10,881
down €10,881 (-64.1%), from €16,967 to €6,087
- Depreciation +€8,578
up €8,578 (+26.9%), from €31,946 to €40,524
- Gross operating margin -€6,809
down €6,809 (-4.4%), from €155,667 to €148,859
- Taxes -€4,032
down €4,032 (-14.2%), from €28,440 to €24,407
- Financial income -€3,575
down €3,575 (-70.6%), from €5,062 to €1,487
- Financial charges -€2,661
down €2,661 (-10.7%), from €24,860 to €22,199
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 | €986,773 | €932,350 | -€54,423 | -5.5% |
| Fixed assets | 21/28 | €888,666 | €851,240 | -€37,425 | -4.2% |
| Tangible fixed assets | 22/27 | €888,666 | €851,240 | -€37,425 | -4.2% |
| Land and buildings | 22 | €815,268 | €789,922 | -€25,347 | -3.1% |
| Plant, machinery and equipment | 23 | €27,473 | €24,545 | -€2,927 | -10.7% |
| Furniture and vehicles | 24 | €36,535 | €27,384 | -€9,151 | -25.0% |
| Other tangible fixed assets | 26 | €9,390 | €9,390 | = | 0.0% |
| Current assets | 29/58 | €98,107 | €81,110 | -€16,998 | -17.3% |
| Amounts receivable within one year | 40/41 | €53,406 | €39,163 | -€14,243 | -26.7% |
| Trade receivables | 40 | €38,936 | €28,526 | -€10,409 | -26.7% |
| Other amounts receivable | 41 | €14,470 | €10,637 | -€3,833 | -26.5% |
| Cash at bank and in hand | 54/58 | €37,474 | €34,018 | -€3,455 | -9.2% |
| Deferred charges and accrued income | 490/1 | €7,228 | €7,928 | +€700 | +9.7% |
| Total equity and liabilities | 10/49 | €986,773 | €932,350 | -€54,423 | -5.5% |
| Equity | 10/15 | €441,401 | €455,355 | +€13,954 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €339,337 | €353,291 | +€13,954 | +4.1% |
| Distributable reserves | 133 | €339,337 | €353,291 | +€13,954 | +4.1% |
| Profit (loss) carried forward | 14 | €83,464 | €83,464 | = | 0.0% |
| Amounts payable | 17/49 | €545,372 | €476,995 | -€68,377 | -12.5% |
| Amounts payable after more than one year | 17 | €435,358 | €388,673 | -€46,684 | -10.7% |
| Financial debts | 170/4 | €435,358 | €388,673 | -€46,684 | -10.7% |
| Amounts payable within one year | 42/48 | €110,015 | €88,322 | -€21,693 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €52,087 | €55,434 | +€3,348 | +6.4% |
| Trade debts | 44 | €16,967 | €6,087 | -€10,881 | -64.1% |
| Suppliers | 440/4 | €16,967 | €6,087 | -€10,881 | -64.1% |
| Taxes, remuneration and social security | 45 | €40,961 | €20,907 | -€20,053 | -49.0% |
| Taxes | 450/3 | €40,961 | €20,907 | -€20,053 | -49.0% |
| Other amounts payable | 47/48 | - | €5,894 | +€5,894 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,946 | €40,524 | +€8,578 | +26.9% |
| Other operating charges | 640/8 | €5,212 | €5,484 | +€272 | +5.2% |
| Non-recurring operating charges | 66A | €1,268 | €386 | -€883 | -69.6% |
| Gross operating margin | 9900 | €155,667 | €148,859 | -€6,809 | -4.4% |
| Operating profit (loss) | 9901 | €117,242 | €102,466 | -€14,776 | -12.6% |
| Financial income | 75/76B | €5,062 | €1,487 | -€3,575 | -70.6% |
| Recurring financial income | 75 | €5,062 | €1,487 | -€3,575 | -70.6% |
| Financial charges | 65/66B | €24,860 | €22,199 | -€2,661 | -10.7% |
| Recurring financial charges | 65 | €24,860 | €22,199 | -€2,661 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €97,444 | €81,754 | -€15,690 | -16.1% |
| Income taxes | 67/77 | €28,440 | €24,407 | -€4,032 | -14.2% |
| Profit (loss) for the period | 9904 | €69,004 | €57,347 | -€11,657 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €69,004 | €57,347 | -€11,657 | -16.9% |
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 24 October 2026 via checked.be.