ENRA: 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.
ENRA
Largest movements
- Cash -€153,303
down €153,303 (-46.9%), from €327,163 to €173,860
mainly Contributions, distributions and other (-€167,705) and Current investments (-€86,079)
- Current investments +€86,079
up €86,079 (+30.2%), from €285,219 to €371,298
- Receivables within one year +€43,213
up €43,213 (+193.0%), from €22,385 to €65,598
- Deferred charges and accrued income +€10,023
up €10,023 (+622.3%), from €1,610 to €11,633
- Reserves -€28,121
down €28,121 (-4.0%), from €702,285 to €674,164
of which Distributable reserves: -€70,221
- Tax, wage and social debts +€19,842
up €19,842 (+108.6%), from €18,278 to €38,120
of which Taxes: +€19,818
- Debts after one year -€13,273
down €13,273 (-14.7%), from €90,013 to €76,740
- Gross operating margin +€36,051
up €36,051 (+20.6%), from €174,762 to €210,814
- Provisions +€14,176
up €14,176, from -€5,294 to €8,882
- Taxes +€9,569
up €9,569 (+20.5%), from €46,748 to €56,317
- Financial income +€4,828
up €4,828 (+59.6%), from €8,099 to €12,927
- Financial charges -€2,773
down €2,773 (-49.9%), from €5,558 to €2,786
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 | €855,870 | €836,158 | -€19,712 | -2.3% |
| Fixed assets | 21/28 | €219,494 | €213,770 | -€5,724 | -2.6% |
| Tangible fixed assets | 22/27 | €219,494 | €213,770 | -€5,724 | -2.6% |
| Land and buildings | 22 | €218,090 | €208,503 | -€9,587 | -4.4% |
| Plant, machinery and equipment | 23 | €1,403 | €5,266 | +€3,863 | +275.3% |
| Current assets | 29/58 | €636,377 | €622,389 | -€13,988 | -2.2% |
| Amounts receivable within one year | 40/41 | €22,385 | €65,598 | +€43,213 | +193.0% |
| Trade receivables | 40 | €22,385 | €65,598 | +€43,213 | +193.0% |
| Current investments | 50/53 | €285,219 | €371,298 | +€86,079 | +30.2% |
| Cash at bank and in hand | 54/58 | €327,163 | €173,860 | -€153,303 | -46.9% |
| Deferred charges and accrued income | 490/1 | €1,610 | €11,633 | +€10,023 | +622.3% |
| Total equity and liabilities | 10/49 | €855,870 | €836,158 | -€19,712 | -2.3% |
| Equity | 10/15 | €714,685 | €686,564 | -€28,121 | -3.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €702,285 | €674,164 | -€28,121 | -4.0% |
| Tax-exempt reserves | 132 | €84,200 | €126,300 | +€42,100 | +50.0% |
| Distributable reserves | 133 | €618,085 | €547,864 | -€70,221 | -11.4% |
| Amounts payable | 17/49 | €141,185 | €149,594 | +€8,409 | +6.0% |
| Amounts payable after more than one year | 17 | €90,013 | €76,740 | -€13,273 | -14.7% |
| Financial debts | 170/4 | €90,013 | €76,740 | -€13,273 | -14.7% |
| Amounts payable within one year | 42/48 | €47,421 | €68,293 | +€20,872 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €14,152 | €14,370 | +€218 | +1.5% |
| Trade debts | 44 | €2,995 | €860 | -€2,135 | -71.3% |
| Suppliers | 440/4 | €2,995 | €860 | -€2,135 | -71.3% |
| Taxes, remuneration and social security | 45 | €18,278 | €38,120 | +€19,842 | +108.6% |
| Taxes | 450/3 | €14,766 | €34,584 | +€19,818 | +134.2% |
| Remuneration and social security | 454/9 | €3,512 | €3,536 | +€25 | +0.7% |
| Other amounts payable | 47/48 | €11,997 | €14,943 | +€2,946 | +24.6% |
| Accrued charges and deferred income | 492/3 | €3,751 | €4,560 | +€809 | +21.6% |
| Non-recurring operating income | 76A | - | €550 | +€550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,613 | €13,029 | +€2,416 | +22.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,294 | €8,882 | +€14,176 | |
| Other operating charges | 640/8 | €4,095 | €3,143 | -€951 | -23.2% |
| Gross operating margin | 9900 | €174,762 | €210,814 | +€36,051 | +20.6% |
| Operating profit (loss) | 9901 | €165,349 | €185,760 | +€20,411 | +12.3% |
| Financial income | 75/76B | €8,099 | €12,927 | +€4,828 | +59.6% |
| Recurring financial income | 75 | €8,099 | €12,927 | +€4,828 | +59.6% |
| Financial charges | 65/66B | €5,558 | €2,786 | -€2,773 | -49.9% |
| Recurring financial charges | 65 | €5,558 | €2,786 | -€2,773 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €167,889 | €195,901 | +€28,012 | +16.7% |
| Income taxes | 67/77 | €46,748 | €56,317 | +€9,569 | +20.5% |
| Profit (loss) for the period | 9904 | €121,141 | €139,584 | +€18,443 | +15.2% |
| Transfer from tax-exempt reserves | 789 | €35,600 | - | -€35,600 | |
| Transfer to tax-exempt reserves | 689 | €42,100 | €42,100 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €114,641 | €97,484 | -€17,157 | -15.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.