Envelman: 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.
Envelman
Largest movements
- Tangible fixed assets +€38,107
up €38,107 (+1121.1%), from €3,399 to €41,506
- Cash -€14,984
down €14,984 (-32.1%), from €46,610 to €31,626
mainly Investment in fixed assets (net) (-€43,977) and Tax, wage and social debts (-€13,741)
- Receivables within one year +€6,050
up €6,050 (+50.0%), from €12,100 to €18,150
- Debts after one year +€26,334
new in 2025: €26,334
- Other debts +€16,364
up €16,364 (+1730.3%), from €946 to €17,310
- Tax, wage and social debts -€13,741
down €13,741 (-86.6%), from €15,863 to €2,122
of which Taxes: -€11,045
- Current portion of long-term debt +€6,480
new in 2025: €6,480
- Profit (loss) carried forward -€5,874
down €5,874 (-60.2%), from €9,761 to €3,887
- Gross operating margin -€49,088
down €49,088 (-96.7%), from €50,784 to €1,696
- Taxes -€10,113
no longer reported in 2025 (was €10,113)
- Depreciation +€5,572
up €5,572 (+1870.1%), from €298 to €5,870
- Other operating charges +€629
up €629 (+144.8%), from €434 to €1,063
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 | €62,450 | €92,264 | +€29,814 | +47.7% |
| Fixed assets | 21/28 | €3,459 | €41,566 | +€38,107 | +1101.7% |
| Tangible fixed assets | 22/27 | €3,399 | €41,506 | +€38,107 | +1121.1% |
| Furniture and vehicles | 24 | €3,399 | €41,506 | +€38,107 | +1121.1% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €58,991 | €50,698 | -€8,293 | -14.1% |
| Amounts receivable within one year | 40/41 | €12,100 | €18,150 | +€6,050 | +50.0% |
| Trade receivables | 40 | €12,100 | €18,150 | +€6,050 | +50.0% |
| Cash at bank and in hand | 54/58 | €46,610 | €31,626 | -€14,984 | -32.1% |
| Deferred charges and accrued income | 490/1 | €281 | €922 | +€641 | +227.9% |
| Total equity and liabilities | 10/49 | €62,450 | €92,264 | +€29,814 | +47.7% |
| Equity | 10/15 | €44,761 | €38,887 | -€5,874 | -13.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,761 | €3,887 | -€5,874 | -60.2% |
| Amounts payable | 17/49 | €17,689 | €53,377 | +€35,688 | +201.8% |
| Amounts payable after more than one year | 17 | - | €26,334 | +€26,334 | |
| Financial debts | 170/4 | - | €26,334 | +€26,334 | |
| Amounts payable within one year | 42/48 | €17,689 | €25,975 | +€8,286 | +46.8% |
| Current portion of amounts payable after more than one year | 42 | - | €6,480 | +€6,480 | |
| Trade debts | 44 | €880 | €63 | -€817 | -92.8% |
| Suppliers | 440/4 | €880 | €63 | -€817 | -92.8% |
| Taxes, remuneration and social security | 45 | €15,863 | €2,122 | -€13,741 | -86.6% |
| Taxes | 450/3 | €13,167 | €2,122 | -€11,045 | -83.9% |
| Remuneration and social security | 454/9 | €2,696 | - | -€2,696 | |
| Other amounts payable | 47/48 | €946 | €17,310 | +€16,364 | +1730.3% |
| Accrued charges and deferred income | 492/3 | - | €1,067 | +€1,067 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €298 | €5,870 | +€5,572 | +1870.1% |
| Other operating charges | 640/8 | €434 | €1,063 | +€629 | +144.8% |
| Gross operating margin | 9900 | €50,784 | €1,696 | -€49,088 | -96.7% |
| Operating profit (loss) | 9901 | €50,052 | -€5,237 | -€55,289 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €178 | €637 | +€459 | +257.8% |
| Recurring financial charges | 65 | €178 | €637 | +€459 | +257.8% |
| Profit (loss) for the period before taxes | 9903 | €49,874 | -€5,874 | -€55,748 | |
| Income taxes | 67/77 | €10,113 | - | -€10,113 | |
| Profit (loss) for the period | 9904 | €39,761 | -€5,874 | -€45,635 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,761 | -€5,874 | -€45,635 |
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.