ENP: what changed
ENP
Largest movements
- Tangible fixed assets +€133,656
new in 2025: €133,656
of which Land and buildings: +€130,896
- Cash +€38,909
up €38,909 (+248%), from €15,664 to €54,574
mainly Debts after one year (+€132,604) and Current investments (+€20,000)
- Current investments -€20,000
down €20,000 (-66.7%), from €30,000 to €10,000
- Receivables within one year -€3,987
down €3,987 (-32.7%), from €12,182 to €8,195
of which Trade receivables: -€4,023
- Debts after one year +€132,604
new in 2025: €132,604
- Reserves +€8,405
up €8,405 (+21.8%), from €38,600 to €47,005
- Current portion of long-term debt +€7,396
new in 2025: €7,396
- Other debts +€3,883
up €3,883 (+29.2%), from €13,298 to €17,181
- Tax, wage and social debts -€2,881
no longer reported in 2025 (was €2,881)
- Gross operating margin -€18,357
down €18,357 (-59.6%), from €30,783 to €12,426
- Taxes -€4,604
down €4,604 (-58.3%), from €7,894 to €3,290
- Financial charges +€653
up €653 (+105%), from €621 to €1,273
- Depreciation +€384
new in 2025: €384
- Financial income +€377
up €377 (+53.1%), from €710 to €1,087
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,422 | €207,625 | +€149,203 | +255% |
| Fixed assets | 21/28 | - | €133,656 | +€133,656 | |
| Tangible fixed assets | 22/27 | - | €133,656 | +€133,656 | |
| Land and buildings | 22 | - | €130,896 | +€130,896 | |
| Furniture and vehicles | 24 | - | €2,760 | +€2,760 | |
| Current assets | 29/58 | €58,422 | €73,968 | +€15,547 | +26.6% |
| Amounts receivable within one year | 40/41 | €12,182 | €8,195 | -€3,987 | -32.7% |
| Trade receivables | 40 | €12,182 | €8,158 | -€4,023 | -33.0% |
| Other amounts receivable | 41 | - | €36 | +€36 | |
| Current investments | 50/53 | €30,000 | €10,000 | -€20,000 | -66.7% |
| Cash at bank and in hand | 54/58 | €15,664 | €54,574 | +€38,909 | +248% |
| Deferred charges and accrued income | 490/1 | €576 | €1,200 | +€624 | +108% |
| Total equity and liabilities | 10/49 | €58,422 | €207,625 | +€149,203 | +255% |
| Equity | 10/15 | €40,600 | €49,005 | +€8,405 | +20.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €38,600 | €47,005 | +€8,405 | +21.8% |
| Distributable reserves | 133 | €38,600 | €47,005 | +€8,405 | +21.8% |
| Amounts payable | 17/49 | €17,822 | €158,620 | +€140,798 | +790% |
| Amounts payable after more than one year | 17 | - | €132,604 | +€132,604 | |
| Financial debts | 170/4 | - | €132,604 | +€132,604 | |
| Amounts payable within one year | 42/48 | €17,228 | €24,797 | +€7,568 | +43.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,396 | +€7,396 | |
| Trade debts | 44 | €1,049 | €220 | -€829 | -79.0% |
| Suppliers | 440/4 | €1,049 | €220 | -€829 | -79.0% |
| Taxes, remuneration and social security | 45 | €2,881 | - | -€2,881 | |
| Taxes | 450/3 | €2,881 | - | -€2,881 | |
| Other amounts payable | 47/48 | €13,298 | €17,181 | +€3,883 | +29.2% |
| Accrued charges and deferred income | 492/3 | €594 | €1,219 | +€625 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €384 | +€384 | |
| Other operating charges | 640/8 | - | €162 | +€162 | |
| Gross operating margin | 9900 | €30,783 | €12,426 | -€18,357 | -59.6% |
| Operating profit (loss) | 9901 | €30,783 | €11,881 | -€18,902 | -61.4% |
| Financial income | 75/76B | €710 | €1,087 | +€377 | +53.1% |
| Recurring financial income | 75 | €710 | €1,087 | +€377 | +53.1% |
| Financial charges | 65/66B | €621 | €1,273 | +€653 | +105% |
| Recurring financial charges | 65 | €621 | €1,273 | +€653 | +105% |
| Profit (loss) for the period before taxes | 9903 | €30,872 | €11,695 | -€19,177 | -62.1% |
| Income taxes | 67/77 | €7,894 | €3,290 | -€4,604 | -58.3% |
| Profit (loss) for the period | 9904 | €22,978 | €8,405 | -€14,573 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,978 | €8,405 | -€14,573 | -63.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.