ENPOL: 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.
ENPOL
Largest movements
- Receivables within one year +€131,025
up €131,025 (+137%), from €95,723 to €226,748
of which Trade receivables: +€131,025
- Cash -€51,410
down €51,410 (-80.2%), from €64,136 to €12,727
mainly Contributions, distributions and other (-€274,013) and Receivables within one year (-€131,025)
- Current investments -€36,126
down €36,126 (-13.6%), from €266,255 to €230,129
- Other debts +€150,422
up €150,422 (+94.6%), from €159,022 to €309,444
- Reserves -€126,064
down €126,064 (-51.8%), from €243,224 to €117,160
- Tax, wage and social debts +€17,978
up €17,978 (+458%), from €3,923 to €21,901
- Gross operating margin +€103,724
up €103,724 (+112%), from €92,954 to €196,678
- Taxes +€32,790
up €32,790 (+176%), from €18,680 to €51,471
- Financial income -€17,551
down €17,551 (-73.9%), from €23,750 to €6,199
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 | €428,039 | €471,721 | +€43,682 | +10.2% |
| Fixed assets | 21/28 | €1,097 | €1,100 | +€2 | +0.2% |
| Tangible fixed assets | 22/27 | €1,097 | €1,100 | +€2 | +0.2% |
| Furniture and vehicles | 24 | €1,097 | €1,100 | +€2 | +0.2% |
| Current assets | 29/58 | €426,942 | €470,621 | +€43,679 | +10.2% |
| Amounts receivable within one year | 40/41 | €95,723 | €226,748 | +€131,025 | +137% |
| Trade receivables | 40 | €82,147 | €213,173 | +€131,025 | +160% |
| Other amounts receivable | 41 | €13,576 | €13,576 | = | 0.0% |
| Current investments | 50/53 | €266,255 | €230,129 | -€36,126 | -13.6% |
| Cash at bank and in hand | 54/58 | €64,136 | €12,727 | -€51,410 | -80.2% |
| Deferred charges and accrued income | 490/1 | €827 | €1,017 | +€190 | +23.0% |
| Total equity and liabilities | 10/49 | €428,039 | €471,721 | +€43,682 | +10.2% |
| Equity | 10/15 | €261,774 | €135,710 | -€126,064 | -48.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €243,224 | €117,160 | -€126,064 | -51.8% |
| Distributable reserves | 133 | €243,224 | €117,160 | -€126,064 | -51.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €166,265 | €336,011 | +€169,746 | +102% |
| Amounts payable within one year | 42/48 | €164,822 | €334,666 | +€169,844 | +103% |
| Financial debts | 43 | €197 | €646 | +€450 | +229% |
| Other loans | 439 | €197 | €646 | +€450 | +229% |
| Trade debts | 44 | €1,680 | €2,675 | +€995 | +59.2% |
| Suppliers | 440/4 | €1,680 | €2,675 | +€995 | +59.2% |
| Taxes, remuneration and social security | 45 | €3,923 | €21,901 | +€17,978 | +458% |
| Taxes | 450/3 | €3,923 | €21,901 | +€17,978 | +458% |
| Other amounts payable | 47/48 | €159,022 | €309,444 | +€150,422 | +94.6% |
| Accrued charges and deferred income | 492/3 | €1,443 | €1,345 | -€98 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,771 | €1,055 | -€717 | -40.5% |
| Other operating charges | 640/8 | €544 | €445 | -€99 | -18.2% |
| Non-recurring operating charges | 66A | - | €375 | +€375 | |
| Gross operating margin | 9900 | €92,954 | €196,678 | +€103,724 | +112% |
| Operating profit (loss) | 9901 | €90,639 | €194,803 | +€104,164 | +115% |
| Financial income | 75/76B | €23,750 | €6,199 | -€17,551 | -73.9% |
| Recurring financial income | 75 | €23,750 | €6,199 | -€17,551 | -73.9% |
| Financial charges | 65/66B | €2,431 | €1,583 | -€848 | -34.9% |
| Recurring financial charges | 65 | €2,431 | €1,583 | -€848 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €111,958 | €199,419 | +€87,461 | +78.1% |
| Income taxes | 67/77 | €18,680 | €51,471 | +€32,790 | +176% |
| Profit (loss) for the period | 9904 | €93,277 | €147,948 | +€54,671 | +58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €93,277 | €147,948 | +€54,671 | +58.6% |
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 13 October 2026 via checked.be.