ENOXAN: 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.
ENOXAN
Largest movements
- Stocks and contracts -€300,484
down €300,484 (-47.4%), from €633,624 to €333,140
- Cash +€52,064
up €52,064 (+4536.5%), from €1,148 to €53,212
mainly Stocks and contracts (+€300,484) and Tax, wage and social debts (+€40,878)
- Profit (loss) carried forward -€170,071
down €170,071 (-280.2%), from -€60,707 to -€230,778
- Debts after one year -€112,789
down €112,789 (-18.0%), from €624,913 to €512,124
- Tax, wage and social debts +€40,878
up €40,878 (+1795.0%), from €2,277 to €43,155
- Gross operating margin -€128,449
down €128,449 (-9340.6%), from -€1,375 to -€129,824
- Other operating charges -€8,293
down €8,293 (-73.5%), from €11,283 to €2,990
- Depreciation -€4,476
down €4,476 (-35.5%), from €12,591 to €8,115
- Financial charges +€4,094
up €4,094 (+16.4%), from €24,966 to €29,060
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 | €751,187 | €498,707 | -€252,480 | -33.6% |
| Fixed assets | 21/28 | €97,094 | €99,061 | +€1,967 | +2.0% |
| Tangible fixed assets | 22/27 | €94,594 | €96,561 | +€1,967 | +2.1% |
| Land and buildings | 22 | €86,907 | €82,747 | -€4,160 | -4.8% |
| Plant, machinery and equipment | 23 | €6,056 | €2,896 | -€3,160 | -52.2% |
| Furniture and vehicles | 24 | €1,631 | €10,918 | +€9,287 | +569.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €654,093 | €399,646 | -€254,447 | -38.9% |
| Stocks and contracts in progress | 3 | €633,624 | €333,140 | -€300,484 | -47.4% |
| Stocks | 30/36 | €633,624 | €333,140 | -€300,484 | -47.4% |
| Amounts receivable within one year | 40/41 | €10,627 | €8,893 | -€1,734 | -16.3% |
| Trade receivables | 40 | €10,066 | €7,482 | -€2,584 | -25.7% |
| Other amounts receivable | 41 | €561 | €1,411 | +€850 | +151.4% |
| Cash at bank and in hand | 54/58 | €1,148 | €53,212 | +€52,064 | +4536.5% |
| Deferred charges and accrued income | 490/1 | €8,694 | €4,401 | -€4,293 | -49.4% |
| Total equity and liabilities | 10/49 | €751,187 | €498,707 | -€252,480 | -33.6% |
| Equity | 10/15 | €20,516 | -€149,556 | -€170,071 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €62,630 | €62,630 | = | 0.0% |
| Distributable reserves | 133 | €62,630 | €62,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,707 | -€230,778 | -€170,071 | -280.2% |
| Amounts payable | 17/49 | €730,671 | €648,263 | -€82,408 | -11.3% |
| Amounts payable after more than one year | 17 | €624,913 | €512,124 | -€112,789 | -18.0% |
| Financial debts | 170/4 | €624,913 | €512,124 | -€112,789 | -18.0% |
| Amounts payable within one year | 42/48 | €105,758 | €136,138 | +€30,381 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €12,227 | €6,639 | -€5,588 | -45.7% |
| Trade debts | 44 | €9,027 | €4,820 | -€4,207 | -46.6% |
| Suppliers | 440/4 | €9,027 | €4,820 | -€4,207 | -46.6% |
| Taxes, remuneration and social security | 45 | €2,277 | €43,155 | +€40,878 | +1795.0% |
| Taxes | 450/3 | €2,277 | €43,155 | +€40,878 | +1795.0% |
| Other amounts payable | 47/48 | €82,226 | €81,524 | -€703 | -0.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,237 | €3,228 | -€9,009 | -73.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,591 | €8,115 | -€4,476 | -35.5% |
| Other operating charges | 640/8 | €11,283 | €2,990 | -€8,293 | -73.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€1,375 | -€129,824 | -€128,449 | -9340.6% |
| Operating profit (loss) | 9901 | -€25,249 | -€140,929 | -€115,680 | -458.2% |
| Financial income | 75/76B | €290 | €94 | -€196 | -67.6% |
| Recurring financial income | 75 | €290 | €94 | -€196 | -67.6% |
| Financial charges | 65/66B | €24,966 | €29,060 | +€4,094 | +16.4% |
| Recurring financial charges | 65 | €24,966 | €29,060 | +€4,094 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,925 | -€169,895 | -€119,970 | -240.3% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€50,100 | -€170,071 | -€119,972 | -239.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,100 | -€170,071 | -€119,972 | -239.5% |
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 7 October 2026 via checked.be.