ENSPEG: 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.
What changed
ENSPEG
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€8,840
2024 · -€40,796+€49,636
Equity
€2.9m
2024 · €2.9m+€8,674
Cash
€26,912
2024 · €4,777+€22,135
Balance sheet total
€3.4m
2024 · €3.3m+€27,416
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€34,689
up €34,689 (+7.7%), from €451,631 to €486,320
Income statement
- Gross operating margin +€37,416
up €37,416 (+130%), from €28,747 to €66,163
- Depreciation -€33,202
down €33,202 (-83.5%), from €39,756 to €6,555
- Taxes +€8,169
up €8,169 (+851%), from €960 to €9,129
- Other operating charges +€6,423
up €6,423 (+50.3%), from €12,779 to €19,202
- Financial charges +€6,382
up €6,382 (+39.3%), from €16,252 to €22,633
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.
Result 2024
-€40,796
Gross operating margin
+€37,416
Depreciation
+€33,202
Other operating charges
-€6,423
Financial income
-€8
Financial charges
-€6,382
Taxes
-€8,169
Result 2025
€8,840
raises the resultlowers the result
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.
From operations
+€36,561
Investment
-€7,731
Financing
-€6,695
Cash 2024
€4,777
From operations (derived)
+€36,561
Net result for the year
+€8,840
Depreciation
+€6,555
Receivables within one year
-€4,500
Deferred charges and accrued income
+€395
Trade debts
-€10,912
Tax, wage and social debts
+€1,463
Other debts
+€34,689
Accrued charges and deferred income
+€30
Investment (derived)
-€7,731
Investment in fixed assets (net)
-€7,729
Current investments
-€2
Financing
-€6,695
Current portion of long-term debt
-€6,529
Contributions, distributions and other
-€166
Cash 2025
€26,912
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,339,756 | €3,367,171 | +€27,416 | +0.8% |
| Fixed assets | 21/28 | €3,319,722 | €3,320,896 | +€1,174 | 0.0% |
| Tangible fixed assets | 22/27 | €3,319,712 | €3,320,886 | +€1,174 | 0.0% |
| Land and buildings | 22 | €3,282,767 | €3,288,677 | +€5,911 | +0.2% |
| Plant, machinery and equipment | 23 | €36,946 | €32,209 | -€4,736 | -12.8% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €20,033 | €46,275 | +€26,242 | +131% |
| Amounts receivable within one year | 40/41 | €8,542 | €13,042 | +€4,500 | +52.7% |
| Trade receivables | 40 | €8,542 | €13,042 | +€4,500 | +52.7% |
| Current investments | 50/53 | €583 | €585 | +€2 | +0.3% |
| Cash at bank and in hand | 54/58 | €4,777 | €26,912 | +€22,135 | +463% |
| Deferred charges and accrued income | 490/1 | €6,131 | €5,736 | -€395 | -6.4% |
| Total equity and liabilities | 10/49 | €3,339,756 | €3,367,171 | +€27,416 | +0.8% |
| Equity | 10/15 | €2,865,270 | €2,873,944 | +€8,674 | +0.3% |
| Contributions | 10/11 | €2,412,000 | €2,412,000 | = | 0.0% |
| Reserves | 13 | €7,333 | €7,333 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,333 | €7,333 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,333 | €7,333 | = | 0.0% |
| Profit (loss) carried forward | 14 | €399,851 | €408,692 | +€8,840 | +2.2% |
| Investment grants | 15 | €46,086 | €45,919 | -€166 | -0.4% |
| Amounts payable | 17/49 | €474,486 | €493,227 | +€18,742 | +3.9% |
| Amounts payable within one year | 42/48 | €474,486 | €493,197 | +€18,712 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €6,529 | - | -€6,529 | |
| Trade debts | 44 | €11,800 | €888 | -€10,912 | -92.5% |
| Suppliers | 440/4 | €11,800 | €888 | -€10,912 | -92.5% |
| Taxes, remuneration and social security | 45 | €4,526 | €5,989 | +€1,463 | +32.3% |
| Taxes | 450/3 | €4,526 | €5,989 | +€1,463 | +32.3% |
| Other amounts payable | 47/48 | €451,631 | €486,320 | +€34,689 | +7.7% |
| Accrued charges and deferred income | 492/3 | - | €30 | +€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,756 | €6,555 | -€33,202 | -83.5% |
| Other operating charges | 640/8 | €12,779 | €19,202 | +€6,423 | +50.3% |
| Gross operating margin | 9900 | €28,747 | €66,163 | +€37,416 | +130% |
| Operating profit (loss) | 9901 | -€23,788 | €40,407 | +€64,195 | |
| Financial income | 75/76B | €204 | €196 | -€8 | -4.1% |
| Recurring financial income | 75 | €204 | €196 | -€8 | -4.1% |
| Financial charges | 65/66B | €16,252 | €22,633 | +€6,382 | +39.3% |
| Recurring financial charges | 65 | €16,252 | €22,633 | +€6,382 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | -€39,836 | €17,969 | +€57,805 | |
| Income taxes | 67/77 | €960 | €9,129 | +€8,169 | +851% |
| Profit (loss) for the period | 9904 | -€40,796 | €8,840 | +€49,636 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,796 | €8,840 | +€49,636 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.