ENPB: 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.
ENPB
Largest movements
- Current investments +€1.7m
new in 2025: €1.7m
- Cash -€308,646
down €308,646 (-97.8%), from €315,723 to €7,077
mainly Current investments (-€1.7m) and Net result for the year (-€147,547)
- Receivables within one year -€113,057
down €113,057 (-23.4%), from €482,844 to €369,787
of which Other amounts receivable: -€106,252
- Other debts +€1.5m
up €1.5m (+628%), from €234,340 to €1.7m
- Profit (loss) carried forward -€147,547
down €147,547, from €0 to -€147,547
- Financial charges +€164,987
up €164,987 (+18,405%), from €896 to €165,883
- Financial income +€43,707
up €43,707 (+282%), from €15,499 to €59,206
- Gross operating margin -€20,311
down €20,311 (-232%), from -€8,752 to -€29,063
- Taxes +€4,678
up €4,678 (+265%), from €1,762 to €6,440
- Other operating charges +€4,342
up €4,342 (+1,129%), from €384 to €4,726
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 | €799,940 | €2,092,183 | +€1.3m | +162% |
| Fixed assets | 21/28 | €1,373 | €733 | -€641 | -46.6% |
| Tangible fixed assets | 22/27 | €1,373 | €733 | -€641 | -46.6% |
| Plant, machinery and equipment | 23 | €1,373 | €733 | -€641 | -46.6% |
| Current assets | 29/58 | €798,567 | €2,091,450 | +€1.3m | +162% |
| Amounts receivable within one year | 40/41 | €482,844 | €369,787 | -€113,057 | -23.4% |
| Trade receivables | 40 | €7,222 | €417 | -€6,805 | -94.2% |
| Other amounts receivable | 41 | €475,622 | €369,370 | -€106,252 | -22.3% |
| Current investments | 50/53 | - | €1,714,586 | +€1.7m | |
| Cash at bank and in hand | 54/58 | €315,723 | €7,077 | -€308,646 | -97.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €799,940 | €2,092,183 | +€1.3m | +162% |
| Equity | 10/15 | €509,766 | €362,219 | -€147,547 | -28.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €489,766 | €489,766 | = | 0.0% |
| Distributable reserves | 133 | €489,766 | €489,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€147,547 | -€147,547 | |
| Amounts payable | 17/49 | €290,174 | €1,729,964 | +€1.4m | +496% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €290,174 | €1,729,964 | +€1.4m | +496% |
| Current portion of amounts payable after more than one year | 42 | €19,286 | €0 | -€19,286 | -100% |
| Trade debts | 44 | €10,645 | €16,393 | +€5,748 | +54.0% |
| Suppliers | 440/4 | €10,645 | €16,393 | +€5,748 | +54.0% |
| Taxes, remuneration and social security | 45 | €25,903 | €6,440 | -€19,462 | -75.1% |
| Taxes | 450/3 | €25,903 | €6,440 | -€19,462 | -75.1% |
| Other amounts payable | 47/48 | €234,340 | €1,707,131 | +€1.5m | +628% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €641 | €641 | +€0 | 0.0% |
| Other operating charges | 640/8 | €384 | €4,726 | +€4,342 | +1,129% |
| Gross operating margin | 9900 | -€8,752 | -€29,063 | -€20,311 | -232% |
| Operating profit (loss) | 9901 | -€9,777 | -€34,430 | -€24,652 | -252% |
| Financial income | 75/76B | €15,499 | €59,206 | +€43,707 | +282% |
| Recurring financial income | 75 | €15,499 | €59,206 | +€43,707 | +282% |
| Financial charges | 65/66B | €896 | €165,883 | +€164,987 | +18,405% |
| Recurring financial charges | 65 | €896 | €165,883 | +€164,987 | +18,405% |
| Profit (loss) for the period before taxes | 9903 | €4,826 | -€141,107 | -€145,932 | |
| Income taxes | 67/77 | €1,762 | €6,440 | +€4,678 | +265% |
| Profit (loss) for the period | 9904 | €3,063 | -€147,547 | -€150,610 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,063 | -€147,547 | -€150,610 |
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.