ENCELADE: 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.
ENCELADE
Largest movements
- Current investments +€11,402
up €11,402 (+61.9%), from €18,427 to €29,829
- Receivables within one year +€1,359
up €1,359 (+15.1%), from €9,021 to €10,380
- Cash -€1,334
down €1,334 (-4.3%), from €30,828 to €29,494
mainly Current investments (-€11,402) and Contributions, distributions and other (-€10,000)
- Deferred charges and accrued income -€1,270
down €1,270 (-83.3%), from €1,524 to €254
- Trade debts -€8,986
down €8,986 (-78.1%), from €11,506 to €2,520
- Other debts +€7,987
up €7,987 (+7987.0%), from €100 to €8,087
- Tax, wage and social debts +€6,024
up €6,024 (+99.0%), from €6,087 to €12,111
- Profit (loss) carried forward +€5,132
up €5,132 (+18.3%), from €27,977 to €33,109
- Gross operating margin -€4,355
down €4,355 (-18.7%), from €23,256 to €18,901
- Taxes -€476
down €476 (-10.4%), from €4,584 to €4,108
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 | €59,930 | €70,087 | +€10,157 | +16.9% |
| Fixed assets | 21/28 | €130 | €130 | = | 0.0% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €59,800 | €69,957 | +€10,157 | +17.0% |
| Amounts receivable within one year | 40/41 | €9,021 | €10,380 | +€1,359 | +15.1% |
| Trade receivables | 40 | €9,021 | €10,380 | +€1,359 | +15.1% |
| Current investments | 50/53 | €18,427 | €29,829 | +€11,402 | +61.9% |
| Cash at bank and in hand | 54/58 | €30,828 | €29,494 | -€1,334 | -4.3% |
| Deferred charges and accrued income | 490/1 | €1,524 | €254 | -€1,270 | -83.3% |
| Total equity and liabilities | 10/49 | €59,930 | €70,087 | +€10,157 | +16.9% |
| Equity | 10/15 | €42,237 | €47,369 | +€5,132 | +12.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,977 | €33,109 | +€5,132 | +18.3% |
| Amounts payable | 17/49 | €17,693 | €22,718 | +€5,025 | +28.4% |
| Amounts payable within one year | 42/48 | €17,693 | €22,718 | +€5,025 | +28.4% |
| Trade debts | 44 | €11,506 | €2,520 | -€8,986 | -78.1% |
| Suppliers | 440/4 | €11,506 | €2,520 | -€8,986 | -78.1% |
| Taxes, remuneration and social security | 45 | €6,087 | €12,111 | +€6,024 | +99.0% |
| Taxes | 450/3 | €6,087 | €12,111 | +€6,024 | +99.0% |
| Other amounts payable | 47/48 | €100 | €8,087 | +€7,987 | +7987.0% |
| Other operating charges | 640/8 | €670 | €668 | -€2 | -0.3% |
| Gross operating margin | 9900 | €23,256 | €18,901 | -€4,355 | -18.7% |
| Operating profit (loss) | 9901 | €22,586 | €18,233 | -€4,353 | -19.3% |
| Financial income | 75/76B | €1,323 | €1,402 | +€79 | +6.0% |
| Recurring financial income | 75 | €1,323 | €1,402 | +€79 | +6.0% |
| Financial charges | 65/66B | €269 | €395 | +€126 | +46.8% |
| Recurring financial charges | 65 | €269 | €395 | +€126 | +46.8% |
| Profit (loss) for the period before taxes | 9903 | €23,640 | €19,240 | -€4,400 | -18.6% |
| Income taxes | 67/77 | €4,584 | €4,108 | -€476 | -10.4% |
| Profit (loss) for the period | 9904 | €19,056 | €15,132 | -€3,924 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,056 | €15,132 | -€3,924 | -20.6% |
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 29 September 2026 via checked.be.