ENCE: 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.
ENCE
Largest movements
- Cash +€39,811
up €39,811 (+86.1%), from €46,227 to €86,038
mainly Net result for the year (+€39,842) and Tax, wage and social debts (+€3,018)
- Receivables within one year +€2,050
up €2,050 (+87.2%), from €2,351 to €4,401
of which Other amounts receivable: +€2,950
- Tangible fixed assets -€1,016
down €1,016 (-29.0%), from €3,505 to €2,489
- Reserves +€39,842
up €39,842 (+129.0%), from €30,882 to €70,724
- Tax, wage and social debts +€3,018
up €3,018 (+18.6%), from €16,245 to €19,263
- Trade debts -€2,250
down €2,250 (-51.4%), from €4,374 to €2,124
- Gross operating margin +€9,954
up €9,954 (+21.6%), from €46,063 to €56,017
- Taxes +€1,218
up €1,218 (+9.4%), from €12,891 to €14,109
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 | €52,501 | €93,111 | +€40,610 | +77.4% |
| Formation expenses | 20 | €384 | €0 | -€384 | -100.0% |
| Fixed assets | 21/28 | €3,505 | €2,489 | -€1,016 | -29.0% |
| Tangible fixed assets | 22/27 | €3,505 | €2,489 | -€1,016 | -29.0% |
| Plant, machinery and equipment | 23 | €3,505 | €2,489 | -€1,016 | -29.0% |
| Current assets | 29/58 | €48,612 | €90,622 | +€42,010 | +86.4% |
| Amounts receivable within one year | 40/41 | €2,351 | €4,401 | +€2,050 | +87.2% |
| Trade receivables | 40 | €900 | €0 | -€900 | -100.0% |
| Other amounts receivable | 41 | €1,451 | €4,401 | +€2,950 | +203.3% |
| Cash at bank and in hand | 54/58 | €46,227 | €86,038 | +€39,811 | +86.1% |
| Deferred charges and accrued income | 490/1 | €34 | €183 | +€149 | +441.5% |
| Total equity and liabilities | 10/49 | €52,501 | €93,111 | +€40,610 | +77.4% |
| Equity | 10/15 | €31,882 | €71,724 | +€39,842 | +125.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €30,882 | €70,724 | +€39,842 | +129.0% |
| Distributable reserves | 133 | €30,882 | €70,724 | +€39,842 | +129.0% |
| Amounts payable | 17/49 | €20,619 | €21,387 | +€768 | +3.7% |
| Amounts payable within one year | 42/48 | €20,619 | €21,387 | +€768 | +3.7% |
| Trade debts | 44 | €4,374 | €2,124 | -€2,250 | -51.4% |
| Suppliers | 440/4 | €4,374 | €2,124 | -€2,250 | -51.4% |
| Taxes, remuneration and social security | 45 | €16,245 | €19,263 | +€3,018 | +18.6% |
| Taxes | 450/3 | €16,245 | €19,263 | +€3,018 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,613 | €1,873 | +€260 | +16.1% |
| Other operating charges | 640/8 | €588 | €213 | -€376 | -63.9% |
| Gross operating margin | 9900 | €46,063 | €56,017 | +€9,954 | +21.6% |
| Operating profit (loss) | 9901 | €43,862 | €53,932 | +€10,071 | +23.0% |
| Financial income | 75/76B | €23 | €184 | +€160 | +686.4% |
| Recurring financial income | 75 | €23 | €184 | +€160 | +686.4% |
| Financial charges | 65/66B | €112 | €166 | +€54 | +48.6% |
| Recurring financial charges | 65 | €112 | €166 | +€54 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €43,773 | €53,950 | +€10,177 | +23.2% |
| Income taxes | 67/77 | €12,891 | €14,109 | +€1,218 | +9.4% |
| Profit (loss) for the period | 9904 | €30,882 | €39,842 | +€8,959 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,882 | €39,842 | +€8,959 | +29.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.