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
- Intangible fixed assets -€15,000
down €15,000 (-50.0%), from €30,000 to €15,000
- Cash -€3,408
down €3,408 (-34.3%), from €9,930 to €6,522
mainly Other debts (-€10,000) and Trade debts (-€9,296)
- Tangible fixed assets +€954
up €954 (+25.0%), from €3,808 to €4,762
of which Other tangible fixed assets: +€3,975
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Trade debts -€9,296
no longer reported in 2025 (was €9,296)
- Profit (loss) carried forward +€2,239
up €2,239 (+14.2%), from €15,777 to €18,016
- Gross operating margin -€41,780
down €41,780 (-65.8%), from €63,477 to €21,697
- Staff costs -€35,364
no longer reported in 2025 (was €35,364)
- Other operating charges -€3,192
down €3,192 (-84.7%), from €3,768 to €576
- Depreciation -€683
down €683 (-3.6%), from €19,229 to €18,546
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 | €60,531 | €43,077 | -€17,454 | -28.8% |
| Fixed assets | 21/28 | €45,777 | €31,731 | -€14,046 | -30.7% |
| Intangible fixed assets | 21 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Tangible fixed assets | 22/27 | €3,808 | €4,762 | +€954 | +25.0% |
| Land and buildings | 22 | €3,808 | €787 | -€3,021 | -79.3% |
| Other tangible fixed assets | 26 | - | €3,975 | +€3,975 | |
| Financial fixed assets | 28 | €11,969 | €11,969 | = | 0.0% |
| Current assets | 29/58 | €14,754 | €11,346 | -€3,408 | -23.1% |
| Amounts receivable within one year | 40/41 | €4,824 | €4,824 | = | 0.0% |
| Other amounts receivable | 41 | €4,824 | €4,824 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,930 | €6,522 | -€3,408 | -34.3% |
| Total equity and liabilities | 10/49 | €60,531 | €43,077 | -€17,454 | -28.8% |
| Equity | 10/15 | €40,503 | €42,741 | +€2,239 | +5.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €4,725 | €4,725 | = | 0.0% |
| Distributable reserves | 133 | €4,725 | €4,725 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,777 | €18,016 | +€2,239 | +14.2% |
| Amounts payable | 17/49 | €20,028 | €335 | -€19,693 | -98.3% |
| Amounts payable within one year | 42/48 | €20,028 | €335 | -€19,693 | -98.3% |
| Trade debts | 44 | €9,296 | - | -€9,296 | |
| Suppliers | 440/4 | €9,296 | - | -€9,296 | |
| Taxes, remuneration and social security | 45 | €732 | €335 | -€397 | -54.2% |
| Taxes | 450/3 | €403 | €335 | -€68 | -16.9% |
| Remuneration and social security | 454/9 | €329 | - | -€329 | |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Remuneration, social security and pensions | 62 | €35,364 | - | -€35,364 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,229 | €18,546 | -€683 | -3.6% |
| Other operating charges | 640/8 | €3,768 | €576 | -€3,192 | -84.7% |
| Gross operating margin | 9900 | €63,477 | €21,697 | -€41,780 | -65.8% |
| Operating profit (loss) | 9901 | €5,115 | €2,574 | -€2,541 | -49.7% |
| Financial charges | 65/66B | €10 | - | -€10 | |
| Recurring financial charges | 65 | €10 | - | -€10 | |
| Profit (loss) for the period before taxes | 9903 | €5,105 | €2,574 | -€2,531 | -49.6% |
| Income taxes | 67/77 | €329 | €335 | +€7 | +2.1% |
| Profit (loss) for the period | 9904 | €4,776 | €2,239 | -€2,538 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,776 | €2,239 | -€2,538 | -53.1% |
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 22 October 2026 via checked.be.