ENREST: 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.
ENREST
Largest movements
- Cash +€40,894
up €40,894 (+15.9%), from €256,522 to €297,416
mainly Net result for the year (+€171,511) and Investment in fixed assets (net) (+€13,232)
- Tangible fixed assets -€15,488
down €15,488 (-75.1%), from €20,634 to €5,146
of which Furniture and vehicles: -€17,028
- Current investments +€15,425
up €15,425 (+6.1%), from €251,565 to €266,990
- Deferred charges and accrued income +€15,384
up €15,384 (+314.5%), from €4,891 to €20,276
- Receivables after one year +€13,928
up €13,928 (+2.7%), from €517,511 to €531,439
- Reserves +€77,416
up €77,416 (+7.3%), from €1.1m to €1.1m
of which Distributable reserves: +€77,416
- Gross operating margin -€8,959
down €8,959 (-3.5%), from €259,260 to €250,302
- Taxes -€4,175
down €4,175 (-4.9%), from €85,723 to €81,548
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 | €1,103,581 | €1,184,223 | +€80,643 | +7.3% |
| Fixed assets | 21/28 | €20,634 | €5,146 | -€15,488 | -75.1% |
| Tangible fixed assets | 22/27 | €20,634 | €5,146 | -€15,488 | -75.1% |
| Land and buildings | 22 | - | €1,540 | +€1,540 | |
| Furniture and vehicles | 24 | €20,634 | €3,606 | -€17,028 | -82.5% |
| Current assets | 29/58 | €1,082,947 | €1,179,077 | +€96,131 | +8.9% |
| Amounts receivable after more than one year | 29 | €517,511 | €531,439 | +€13,928 | +2.7% |
| Other amounts receivable | 291 | €517,511 | €531,439 | +€13,928 | +2.7% |
| Amounts receivable within one year | 40/41 | €52,458 | €62,956 | +€10,498 | +20.0% |
| Trade receivables | 40 | €45,753 | €43,510 | -€2,243 | -4.9% |
| Other amounts receivable | 41 | €6,705 | €19,446 | +€12,741 | +190.0% |
| Current investments | 50/53 | €251,565 | €266,990 | +€15,425 | +6.1% |
| Cash at bank and in hand | 54/58 | €256,522 | €297,416 | +€40,894 | +15.9% |
| Deferred charges and accrued income | 490/1 | €4,891 | €20,276 | +€15,384 | +314.5% |
| Total equity and liabilities | 10/49 | €1,103,581 | €1,184,223 | +€80,643 | +7.3% |
| Equity | 10/15 | €1,079,112 | €1,156,528 | +€77,416 | +7.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,060,512 | €1,137,928 | +€77,416 | +7.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,058,652 | €1,136,068 | +€77,416 | +7.3% |
| Amounts payable | 17/49 | €24,469 | €27,695 | +€3,227 | +13.2% |
| Amounts payable within one year | 42/48 | €24,469 | €27,695 | +€3,227 | +13.2% |
| Trade debts | 44 | €23,469 | €27,695 | +€4,227 | +18.0% |
| Suppliers | 440/4 | €23,469 | €27,695 | +€4,227 | +18.0% |
| Taxes, remuneration and social security | 45 | €1,000 | - | -€1,000 | |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Non-recurring operating income | 76A | - | €1,760 | +€1,760 | |
| Remuneration, social security and pensions | 62 | €473 | €323 | -€150 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,917 | €2,256 | -€661 | -22.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,500 | +€1,500 | |
| Other operating charges | 640/8 | €235 | €801 | +€566 | +240.9% |
| Gross operating margin | 9900 | €259,260 | €250,302 | -€8,959 | -3.5% |
| Operating profit (loss) | 9901 | €255,635 | €245,421 | -€10,214 | -4.0% |
| Financial income | 75/76B | €12,014 | €13,136 | +€1,122 | +9.3% |
| Recurring financial income | 75 | €12,014 | €13,136 | +€1,122 | +9.3% |
| Financial charges | 65/66B | €2,970 | €5,498 | +€2,529 | +85.2% |
| Recurring financial charges | 65 | €2,970 | €5,498 | +€2,529 | +85.2% |
| Profit (loss) for the period before taxes | 9903 | €264,680 | €253,059 | -€11,621 | -4.4% |
| Income taxes | 67/77 | €85,723 | €81,548 | -€4,175 | -4.9% |
| Profit (loss) for the period | 9904 | €178,957 | €171,511 | -€7,446 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €178,957 | €171,511 | -€7,446 | -4.2% |
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 10 October 2026 via checked.be.