ENZO: 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.
ENZO
Largest movements
- Current investments +€256,000
up €256,000 (+257%), from €99,601 to €355,601
- Cash -€197,494
down €197,494 (-57.6%), from €343,150 to €145,656
mainly Current investments (-€256,000) and Contributions, distributions and other (-€81,582)
- Receivables within one year -€16,829
down €16,829 (-42.7%), from €39,422 to €22,593
of which Trade receivables: -€16,836
- Reserves +€19,825
up €19,825 (+5.8%), from €342,927 to €362,752
of which Distributable reserves: +€19,825
- Other debts +€10,957
up €10,957 (+40.0%), from €27,425 to €38,382
- Tax, wage and social debts +€10,482
up €10,482 (+20.9%), from €50,100 to €60,582
- Gross operating margin +€7,503
up €7,503 (+5.2%), from €144,926 to €152,429
- Taxes +€6,965
up €6,965 (+16.1%), from €43,273 to €50,238
- Financial income +€2,191
up €2,191 (+145%), from €1,509 to €3,700
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 | €486,175 | €529,100 | +€42,925 | +8.8% |
| Fixed assets | 21/28 | €4,001 | €5,250 | +€1,249 | +31.2% |
| Tangible fixed assets | 22/27 | €4,001 | €5,250 | +€1,249 | +31.2% |
| Plant, machinery and equipment | 23 | €863 | €796 | -€67 | -7.8% |
| Furniture and vehicles | 24 | €3,138 | €4,454 | +€1,316 | +41.9% |
| Current assets | 29/58 | €482,174 | €523,850 | +€41,676 | +8.6% |
| Amounts receivable within one year | 40/41 | €39,422 | €22,593 | -€16,829 | -42.7% |
| Trade receivables | 40 | €39,422 | €22,586 | -€16,836 | -42.7% |
| Other amounts receivable | 41 | - | €6 | +€6 | |
| Current investments | 50/53 | €99,601 | €355,601 | +€256,000 | +257% |
| Cash at bank and in hand | 54/58 | €343,150 | €145,656 | -€197,494 | -57.6% |
| Total equity and liabilities | 10/49 | €486,175 | €529,100 | +€42,925 | +8.8% |
| Equity | 10/15 | €407,889 | €427,714 | +€19,825 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €342,927 | €362,752 | +€19,825 | +5.8% |
| 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 | €341,067 | €360,892 | +€19,825 | +5.8% |
| Profit (loss) carried forward | 14 | €46,362 | €46,362 | = | 0.0% |
| Amounts payable | 17/49 | €78,286 | €101,386 | +€23,101 | +29.5% |
| Amounts payable within one year | 42/48 | €78,286 | €101,386 | +€23,101 | +29.5% |
| Trade debts | 44 | €761 | €2,422 | +€1,662 | +218% |
| Suppliers | 440/4 | €761 | €2,422 | +€1,662 | +218% |
| Taxes, remuneration and social security | 45 | €50,100 | €60,582 | +€10,482 | +20.9% |
| Taxes | 450/3 | €50,100 | €60,582 | +€10,482 | +20.9% |
| Other amounts payable | 47/48 | €27,425 | €38,382 | +€10,957 | +40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,810 | €2,882 | -€927 | -24.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,102 | €1,452 | +€350 | +31.8% |
| Gross operating margin | 9900 | €144,926 | €152,429 | +€7,503 | +5.2% |
| Operating profit (loss) | 9901 | €140,014 | €148,095 | +€8,080 | +5.8% |
| Financial income | 75/76B | €1,509 | €3,700 | +€2,191 | +145% |
| Recurring financial income | 75 | €1,509 | €3,700 | +€2,191 | +145% |
| Financial charges | 65/66B | €423 | €150 | -€273 | -64.5% |
| Recurring financial charges | 65 | €423 | €150 | -€273 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | €141,100 | €151,644 | +€10,544 | +7.5% |
| Income taxes | 67/77 | €43,273 | €50,238 | +€6,965 | +16.1% |
| Profit (loss) for the period | 9904 | €97,828 | €101,406 | +€3,579 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €97,828 | €101,406 | +€3,579 | +3.7% |
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 18 October 2026 via checked.be.