ENSEI: 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.
ENSEI
Largest movements
- Current investments +€40,432
up €40,432 (+72.6%), from €55,664 to €96,096
- Cash +€36,724
up €36,724 (+20.9%), from €175,853 to €212,577
mainly Other debts (+€101,412) and Net result for the year (+€89,396)
- Receivables within one year -€25,819
no longer reported in 2025 (was €25,819)
- Other debts +€101,412
up €101,412 (+174%), from €58,145 to €159,557
- Reserves -€60,604
down €60,604 (-36.1%), from €168,093 to €107,489
- Tax, wage and social debts +€4,308
up €4,308 (+21.1%), from €20,372 to €24,680
of which Taxes: +€5,149
- Financial income +€45,064
up €45,064 (+5,013%), from €899 to €45,963
- Taxes +€14,083
up €14,083 (+74.5%), from €18,896 to €32,979
- Gross operating margin -€10,292
down €10,292 (-11.7%), from €88,229 to €77,937
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 | €265,284 | €313,396 | +€48,112 | +18.1% |
| Fixed assets | 21/28 | €7,948 | €4,723 | -€3,225 | -40.6% |
| Tangible fixed assets | 22/27 | €448 | €223 | -€225 | -50.2% |
| Furniture and vehicles | 24 | €448 | €223 | -€225 | -50.2% |
| Financial fixed assets | 28 | €7,500 | €4,500 | -€3,000 | -40.0% |
| Current assets | 29/58 | €257,336 | €308,673 | +€51,337 | +19.9% |
| Amounts receivable within one year | 40/41 | €25,819 | - | -€25,819 | |
| Trade receivables | 40 | €25,819 | - | -€25,819 | |
| Current investments | 50/53 | €55,664 | €96,096 | +€40,432 | +72.6% |
| Cash at bank and in hand | 54/58 | €175,853 | €212,577 | +€36,724 | +20.9% |
| Total equity and liabilities | 10/49 | €265,284 | €313,396 | +€48,112 | +18.1% |
| Equity | 10/15 | €186,643 | €126,039 | -€60,604 | -32.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €168,093 | €107,489 | -€60,604 | -36.1% |
| Distributable reserves | 133 | €168,093 | €107,489 | -€60,604 | -36.1% |
| Amounts payable | 17/49 | €78,641 | €187,357 | +€108,716 | +138% |
| Amounts payable within one year | 42/48 | €78,641 | €187,357 | +€108,716 | +138% |
| Trade debts | 44 | €124 | €3,120 | +€2,996 | +2,416% |
| Suppliers | 440/4 | €124 | €3,120 | +€2,996 | +2,416% |
| Taxes, remuneration and social security | 45 | €20,372 | €24,680 | +€4,308 | +21.1% |
| Taxes | 450/3 | €17,146 | €22,295 | +€5,149 | +30.0% |
| Remuneration and social security | 454/9 | €3,226 | €2,385 | -€841 | -26.1% |
| Other amounts payable | 47/48 | €58,145 | €159,557 | +€101,412 | +174% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €225 | €225 | = | 0.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €88,229 | €77,937 | -€10,292 | -11.7% |
| Operating profit (loss) | 9901 | €87,617 | €77,712 | -€9,905 | -11.3% |
| Financial income | 75/76B | €899 | €45,963 | +€45,064 | +5,013% |
| Recurring financial income | 75 | €899 | €45,963 | +€45,064 | +5,013% |
| Financial charges | 65/66B | €496 | €1,300 | +€804 | +162% |
| Recurring financial charges | 65 | €496 | €1,300 | +€804 | +162% |
| Profit (loss) for the period before taxes | 9903 | €88,020 | €122,375 | +€34,355 | +39.0% |
| Income taxes | 67/77 | €18,896 | €32,979 | +€14,083 | +74.5% |
| Profit (loss) for the period | 9904 | €69,124 | €89,396 | +€20,272 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,124 | €89,396 | +€20,272 | +29.3% |
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 23 October 2026 via checked.be.