ENOX: 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.
ENOX
Largest movements
- Stocks and contracts +€79,978
up €79,978 (+7.4%), from €1.1m to €1.2m
- Tangible fixed assets -€68,483
down €68,483 (-31.3%), from €218,467 to €149,984
of which Furniture and vehicles: -€42,553
- Cash +€44,590
up €44,590 (+32.1%), from €138,758 to €183,348
mainly Debts after one year (+€731,178) and Trade debts (+€470,254)
- Receivables within one year -€25,374
down €25,374 (-7.0%), from €361,501 to €336,127
of which Trade receivables: -€54,717
- Other debts -€892,835
down €892,835 (-96.0%), from €930,293 to €37,458
- Debts after one year +€731,178
new in 2025: €731,178
- Trade debts +€470,254
up €470,254 (+68.5%), from €686,563 to €1.2m
- Profit (loss) carried forward -€287,681
down €287,681, from €58,406 to -€229,275
- Current portion of long-term debt +€111,585
new in 2025: €111,585
- Gross operating margin -€271,025
down €271,025 (-56.8%), from €477,451 to €206,426
- Staff costs +€57,103
up €57,103 (+17.2%), from €331,638 to €388,741
- Taxes -€15,969
down €15,969 (-91.0%), from €17,556 to €1,587
- Financial charges +€11,280
up €11,280 (+110.5%), from €10,209 to €21,489
of which Financial charges: +€9,607
- Depreciation -€7,556
down €7,556 (-14.7%), from €51,363 to €43,807
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 | €1,875,085 | €1,899,481 | +€24,396 | +1.3% |
| Fixed assets | 21/28 | €290,856 | €213,552 | -€77,304 | -26.6% |
| Intangible fixed assets | 21 | €52,676 | €43,855 | -€8,821 | -16.7% |
| Tangible fixed assets | 22/27 | €218,467 | €149,984 | -€68,483 | -31.3% |
| Plant, machinery and equipment | 23 | €38,880 | €29,661 | -€9,219 | -23.7% |
| Furniture and vehicles | 24 | €58,060 | €15,507 | -€42,553 | -73.3% |
| Other tangible fixed assets | 26 | €121,527 | €104,816 | -€16,711 | -13.8% |
| Financial fixed assets | 28 | €19,713 | €19,713 | = | 0.0% |
| Current assets | 29/58 | €1,584,229 | €1,685,929 | +€101,700 | +6.4% |
| Stocks and contracts in progress | 3 | €1,082,434 | €1,162,412 | +€79,978 | +7.4% |
| Stocks | 30/36 | €1,082,434 | €1,162,412 | +€79,978 | +7.4% |
| Amounts receivable within one year | 40/41 | €361,501 | €336,127 | -€25,374 | -7.0% |
| Trade receivables | 40 | €321,108 | €266,391 | -€54,717 | -17.0% |
| Other amounts receivable | 41 | €40,393 | €69,736 | +€29,343 | +72.6% |
| Cash at bank and in hand | 54/58 | €138,758 | €183,348 | +€44,590 | +32.1% |
| Deferred charges and accrued income | 490/1 | €1,536 | €4,042 | +€2,506 | +163.2% |
| Total equity and liabilities | 10/49 | €1,875,085 | €1,899,481 | +€24,396 | +1.3% |
| Equity | 10/15 | €64,406 | -€223,275 | -€287,681 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,406 | -€229,275 | -€287,681 | |
| Amounts payable | 17/49 | €1,810,679 | €2,122,756 | +€312,077 | +17.2% |
| Amounts payable after more than one year | 17 | - | €731,178 | +€731,178 | |
| Financial debts | 170/4 | - | €731,178 | +€731,178 | |
| Amounts payable within one year | 42/48 | €1,800,679 | €1,391,578 | -€409,101 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | - | €111,585 | +€111,585 | |
| Financial debts | 43 | - | €11,910 | +€11,910 | |
| Other loans | 439 | - | €11,910 | +€11,910 | |
| Trade debts | 44 | €686,563 | €1,156,817 | +€470,254 | +68.5% |
| Suppliers | 440/4 | €686,563 | €1,156,817 | +€470,254 | +68.5% |
| Taxes, remuneration and social security | 45 | €183,823 | €73,808 | -€110,015 | -59.8% |
| Taxes | 450/3 | €133,209 | €40,621 | -€92,588 | -69.5% |
| Remuneration and social security | 454/9 | €50,614 | €33,187 | -€17,427 | -34.4% |
| Other amounts payable | 47/48 | €930,293 | €37,458 | -€892,835 | -96.0% |
| Accrued charges and deferred income | 492/3 | €10,000 | - | -€10,000 | |
| Remuneration, social security and pensions | 62 | €331,638 | €388,741 | +€57,103 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,363 | €43,807 | -€7,556 | -14.7% |
| Other operating charges | 640/8 | €16,572 | €9,038 | -€7,534 | -45.5% |
| Non-recurring operating charges | 66A | €1,250 | €29,698 | +€28,448 | +2275.8% |
| Gross operating margin | 9900 | €477,451 | €206,426 | -€271,025 | -56.8% |
| Operating profit (loss) | 9901 | €76,628 | -€264,858 | -€341,486 | |
| Financial income | 75/76B | €34 | €253 | +€219 | +644.1% |
| Recurring financial income | 75 | €34 | €253 | +€219 | +644.1% |
| Financial charges | 65/66B | €10,209 | €21,489 | +€11,280 | +110.5% |
| Recurring financial charges | 65 | €10,209 | €19,816 | +€9,607 | +94.1% |
| Non-recurring financial charges | 66B | - | €1,673 | +€1,673 | |
| Profit (loss) for the period before taxes | 9903 | €66,453 | -€286,094 | -€352,547 | |
| Income taxes | 67/77 | €17,556 | €1,587 | -€15,969 | -91.0% |
| Profit (loss) for the period | 9904 | €48,897 | -€287,681 | -€336,578 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,897 | -€287,681 | -€336,578 |
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 5 October 2026 via checked.be.