ENOVA: 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.
ENOVA
Largest movements
- Receivables within one year +€133,101
up €133,101 (+69.4%), from €191,695 to €324,796
of which Other amounts receivable: +€260,800
- Tangible fixed assets -€27,225
down €27,225 (-9.5%), from €287,285 to €260,060
of which Land and buildings: -€18,170
- Cash -€13,685
down €13,685 (-99.2%), from €13,793 to €108
mainly Receivables within one year (-€133,101) and Short-term financial debts (-€100,000)
- Other debts +€177,357
up €177,357 (+203%), from €87,471 to €264,829
- Short-term financial debts -€100,000
down €100,000 (-100%), from €100,000 to €0
- Debts after one year +€84,232
up €84,232 (+53.8%), from €156,583 to €240,815
- Profit (loss) carried forward -€81,939
down €81,939 (-80.2%), from €102,146 to €20,207
- Gross operating margin -€47,857
down €47,857 (-48.3%), from €99,176 to €51,319
- Taxes -€11,534
down €11,534 (-68.9%), from €16,746 to €5,212
- Financial income +€11,489
up €11,489 (+431%), from €2,669 to €14,157
- Depreciation +€7,702
up €7,702 (+39.4%), from €19,523 to €27,225
- Financial charges -€6,802
down €6,802 (-52.1%), from €13,046 to €6,244
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 | €507,181 | €598,236 | +€91,056 | +18.0% |
| Fixed assets | 21/28 | €301,285 | €272,560 | -€28,725 | -9.5% |
| Tangible fixed assets | 22/27 | €287,285 | €260,060 | -€27,225 | -9.5% |
| Land and buildings | 22 | €268,724 | €250,555 | -€18,170 | -6.8% |
| Plant, machinery and equipment | 23 | €2,890 | €1,930 | -€960 | -33.2% |
| Furniture and vehicles | 24 | €15,670 | €7,575 | -€8,095 | -51.7% |
| Financial fixed assets | 28 | €14,000 | €12,500 | -€1,500 | -10.7% |
| Current assets | 29/58 | €205,896 | €325,677 | +€119,780 | +58.2% |
| Amounts receivable within one year | 40/41 | €191,695 | €324,796 | +€133,101 | +69.4% |
| Trade receivables | 40 | €164,986 | €37,287 | -€127,699 | -77.4% |
| Other amounts receivable | 41 | €26,709 | €287,509 | +€260,800 | +976% |
| Cash at bank and in hand | 54/58 | €13,793 | €108 | -€13,685 | -99.2% |
| Deferred charges and accrued income | 490/1 | €408 | €773 | +€365 | +89.4% |
| Total equity and liabilities | 10/49 | €507,181 | €598,236 | +€91,056 | +18.0% |
| Equity | 10/15 | €111,042 | €29,103 | -€81,939 | -73.8% |
| Contributions | 10/11 | €8,087 | €8,087 | = | 0.0% |
| Reserves | 13 | €809 | €809 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €809 | €809 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,146 | €20,207 | -€81,939 | -80.2% |
| Amounts payable | 17/49 | €396,139 | €569,133 | +€172,994 | +43.7% |
| Amounts payable after more than one year | 17 | €156,583 | €240,815 | +€84,232 | +53.8% |
| Financial debts | 170/4 | €156,583 | €240,815 | +€84,232 | +53.8% |
| Amounts payable within one year | 42/48 | €239,556 | €328,319 | +€88,763 | +37.1% |
| Current portion of amounts payable after more than one year | 42 | €15,357 | €15,768 | +€411 | +2.7% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100% |
| Trade debts | 44 | €19,972 | €25,466 | +€5,493 | +27.5% |
| Suppliers | 440/4 | €19,972 | €25,466 | +€5,493 | +27.5% |
| Taxes, remuneration and social security | 45 | €16,755 | €22,256 | +€5,501 | +32.8% |
| Taxes | 450/3 | €16,755 | €22,256 | +€5,501 | +32.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €87,471 | €264,829 | +€177,357 | +203% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,523 | €27,225 | +€7,702 | +39.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €768 | +€768 | |
| Other operating charges | 640/8 | €3,757 | €7,965 | +€4,209 | +112% |
| Gross operating margin | 9900 | €99,176 | €51,319 | -€47,857 | -48.3% |
| Operating profit (loss) | 9901 | €75,897 | €15,361 | -€60,536 | -79.8% |
| Financial income | 75/76B | €2,669 | €14,157 | +€11,489 | +431% |
| Recurring financial income | 75 | €2,669 | €14,157 | +€11,489 | +431% |
| Financial charges | 65/66B | €13,046 | €6,244 | -€6,802 | -52.1% |
| Recurring financial charges | 65 | €13,046 | €6,244 | -€6,802 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | €65,519 | €23,274 | -€42,245 | -64.5% |
| Income taxes | 67/77 | €16,746 | €5,212 | -€11,534 | -68.9% |
| Profit (loss) for the period | 9904 | €48,773 | €18,061 | -€30,712 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,773 | €18,061 | -€30,712 | -63.0% |
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 14 October 2026 via checked.be.