ENR: 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.
ENR
Largest movements
- Tangible fixed assets -€14,277
no longer reported in 2025 (was €14,277)
- Stocks and contracts -€11,464
no longer reported in 2025 (was €11,464)
- Receivables within one year -€5,616
down €5,616 (-12.9%), from €43,560 to €37,943
of which Trade receivables: -€16,229
- Cash -€2,943
down €2,943 (-50.6%), from €5,812 to €2,870
mainly Net result for the year (-€22,995) and Trade debts (-€15,330)
- Profit (loss) carried forward -€22,995
down €22,995 (-1364.5%), from -€1,685 to -€24,680
- Other debts +€20,996
up €20,996 (+7823.5%), from €268 to €21,264
- Trade debts -€15,330
no longer reported in 2025 (was €15,330)
- Debts after one year -€10,185
down €10,185 (-28.9%), from €35,262 to €25,077
- Current portion of long-term debt -€4,291
down €4,291 (-29.6%), from €14,476 to €10,185
- Gross operating margin -€35,452
down €35,452 (-87.8%), from €40,366 to €4,914
- Staff costs -€30,302
down €30,302 (-79.2%), from €38,285 to €7,982
- Financial charges +€13,609
up €13,609 (+388.2%), from €3,506 to €17,115
- Depreciation -€4,283
no longer reported in 2025 (was €4,283)
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 | €76,373 | €42,073 | -€34,300 | -44.9% |
| Fixed assets | 21/28 | €15,537 | €1,260 | -€14,277 | -91.9% |
| Tangible fixed assets | 22/27 | €14,277 | - | -€14,277 | |
| Furniture and vehicles | 24 | €14,277 | - | -€14,277 | |
| Financial fixed assets | 28 | €1,260 | €1,260 | = | 0.0% |
| Current assets | 29/58 | €60,836 | €40,813 | -€20,023 | -32.9% |
| Stocks and contracts in progress | 3 | €11,464 | - | -€11,464 | |
| Stocks | 30/36 | €11,464 | - | -€11,464 | |
| Amounts receivable within one year | 40/41 | €43,560 | €37,943 | -€5,616 | -12.9% |
| Trade receivables | 40 | €42,735 | €26,506 | -€16,229 | -38.0% |
| Other amounts receivable | 41 | €825 | €11,438 | +€10,613 | +1286.4% |
| Cash at bank and in hand | 54/58 | €5,812 | €2,870 | -€2,943 | -50.6% |
| Total equity and liabilities | 10/49 | €76,373 | €42,073 | -€34,300 | -44.9% |
| Equity | 10/15 | €8,315 | -€14,680 | -€22,995 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,685 | -€24,680 | -€22,995 | -1364.5% |
| Amounts payable | 17/49 | €68,058 | €56,754 | -€11,305 | -16.6% |
| Amounts payable after more than one year | 17 | €35,262 | €25,077 | -€10,185 | -28.9% |
| Financial debts | 170/4 | €35,262 | €25,077 | -€10,185 | -28.9% |
| Amounts payable within one year | 42/48 | €32,796 | €31,676 | -€1,119 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €14,476 | €10,185 | -€4,291 | -29.6% |
| Trade debts | 44 | €15,330 | - | -€15,330 | |
| Suppliers | 440/4 | €15,330 | - | -€15,330 | |
| Taxes, remuneration and social security | 45 | €2,722 | €227 | -€2,495 | -91.7% |
| Taxes | 450/3 | €1,945 | €227 | -€1,718 | -88.3% |
| Remuneration and social security | 454/9 | €777 | - | -€777 | |
| Other amounts payable | 47/48 | €268 | €21,264 | +€20,996 | +7823.5% |
| Remuneration, social security and pensions | 62 | €38,285 | €7,982 | -€30,302 | -79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,283 | - | -€4,283 | |
| Other operating charges | 640/8 | €330 | €75 | -€255 | -77.4% |
| Non-recurring operating charges | 66A | - | €2,738 | +€2,738 | |
| Gross operating margin | 9900 | €40,366 | €4,914 | -€35,452 | -87.8% |
| Operating profit (loss) | 9901 | -€2,531 | -€5,881 | -€3,350 | -132.3% |
| Financial income | 75/76B | €2 | €2 | -€0 | -10.5% |
| Recurring financial income | 75 | €2 | €2 | -€0 | -10.5% |
| Financial charges | 65/66B | €3,506 | €17,115 | +€13,609 | +388.2% |
| Recurring financial charges | 65 | €3,506 | €17,115 | +€13,609 | +388.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,036 | -€22,995 | -€16,959 | -281.0% |
| Profit (loss) for the period | 9904 | -€6,036 | -€22,995 | -€16,959 | -281.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,036 | -€22,995 | -€16,959 | -281.0% |
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.