L'ENVERS: 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.
L'ENVERS
Largest movements
- Tangible fixed assets -€34,757
down €34,757 (-9.6%), from €360,522 to €325,765
- Deferred charges and accrued income +€7,583
up €7,583 (+2,258%), from €336 to €7,919
- Debts after one year -€31,912
down €31,912 (-7.3%), from €439,955 to €408,043
- Profit (loss) carried forward +€27,061
up €27,061 (+15.8%), from -€171,521 to -€144,459
- Trade debts -€6,589
down €6,589 (-57.3%), from €11,507 to €4,918
- Accrued charges and deferred income -€6,502
down €6,502 (-67.1%), from €9,695 to €3,193
- Current portion of long-term debt -€5,507
down €5,507 (-14.7%), from €37,419 to €31,912
- Gross operating margin +€26,069
up €26,069 (+48.6%), from €53,658 to €79,727
- Depreciation -€21,805
down €21,805 (-38.6%), from €56,562 to €34,757
- Financial charges -€1,361
down €1,361 (-9.3%), from €14,562 to €13,201
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 | €373,462 | €349,066 | -€24,396 | -6.5% |
| Fixed assets | 21/28 | €360,522 | €325,765 | -€34,757 | -9.6% |
| Tangible fixed assets | 22/27 | €360,522 | €325,765 | -€34,757 | -9.6% |
| Land and buildings | 22 | €360,522 | €325,765 | -€34,757 | -9.6% |
| Current assets | 29/58 | €12,940 | €23,301 | +€10,361 | +80.1% |
| Amounts receivable within one year | 40/41 | €5,223 | €8,063 | +€2,841 | +54.4% |
| Trade receivables | 40 | €3,891 | €336 | -€3,556 | -91.4% |
| Other amounts receivable | 41 | €1,331 | €7,728 | +€6,396 | +480% |
| Cash at bank and in hand | 54/58 | €7,381 | €7,319 | -€63 | -0.8% |
| Deferred charges and accrued income | 490/1 | €336 | €7,919 | +€7,583 | +2,258% |
| Total equity and liabilities | 10/49 | €373,462 | €349,066 | -€24,396 | -6.5% |
| Equity | 10/15 | -€151,061 | -€123,999 | +€27,061 | +17.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€171,521 | -€144,459 | +€27,061 | +15.8% |
| Amounts payable | 17/49 | €524,522 | €473,065 | -€51,457 | -9.8% |
| Amounts payable after more than one year | 17 | €439,955 | €408,043 | -€31,912 | -7.3% |
| Financial debts | 170/4 | €439,955 | €408,043 | -€31,912 | -7.3% |
| Amounts payable within one year | 42/48 | €74,873 | €61,830 | -€13,043 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €37,419 | €31,912 | -€5,507 | -14.7% |
| Trade debts | 44 | €11,507 | €4,918 | -€6,589 | -57.3% |
| Suppliers | 440/4 | €11,507 | €4,918 | -€6,589 | -57.3% |
| Other amounts payable | 47/48 | €25,947 | €25,000 | -€947 | -3.7% |
| Accrued charges and deferred income | 492/3 | €9,695 | €3,193 | -€6,502 | -67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,562 | €34,757 | -€21,805 | -38.6% |
| Other operating charges | 640/8 | €5,608 | €5,329 | -€279 | -5.0% |
| Gross operating margin | 9900 | €53,658 | €79,727 | +€26,069 | +48.6% |
| Operating profit (loss) | 9901 | -€8,512 | €39,641 | +€48,153 | |
| Financial income | 75/76B | - | €621 | +€621 | |
| Recurring financial income | 75 | - | €621 | +€621 | |
| Financial charges | 65/66B | €14,562 | €13,201 | -€1,361 | -9.3% |
| Recurring financial charges | 65 | €14,562 | €13,201 | -€1,361 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,074 | €27,061 | +€50,136 | |
| Profit (loss) for the period | 9904 | -€23,074 | €27,061 | +€50,136 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,074 | €27,061 | +€50,136 |
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 15 October 2026 via checked.be.