encephipar: 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.
encephipar
Largest movements
- Receivables within one year -€625,117
down €625,117 (-45.3%), from €1.4m to €756,165
- Cash +€566,419
up €566,419 (+1520.5%), from €37,252 to €603,670
mainly Receivables within one year (+€625,117) and Depreciation (+€34,335)
- Tangible fixed assets -€34,335
down €34,335 (-25.8%), from €133,339 to €99,004
of which Land and buildings: -€22,815
- Tax, wage and social debts -€45,987
down €45,987 (-94.7%), from €48,568 to €2,581
- Other debts -€37,619
down €37,619 (-10.0%), from €377,909 to €340,290
- Financial income +€15,853
up €15,853 (+34.1%), from €46,501 to €62,354
- Financial charges +€3,327
up €3,327 (+61.7%), from €5,392 to €8,719
- Taxes -€498
down €498 (-79.1%), from €629 to €132
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 | €1,677,534 | €1,597,474 | -€80,061 | -4.8% |
| Fixed assets | 21/28 | €133,339 | €99,004 | -€34,335 | -25.8% |
| Tangible fixed assets | 22/27 | €133,339 | €99,004 | -€34,335 | -25.8% |
| Land and buildings | 22 | €112,793 | €89,978 | -€22,815 | -20.2% |
| Furniture and vehicles | 24 | €20,547 | €9,027 | -€11,520 | -56.1% |
| Current assets | 29/58 | €1,544,195 | €1,498,469 | -€45,725 | -3.0% |
| Amounts receivable within one year | 40/41 | €1,381,282 | €756,165 | -€625,117 | -45.3% |
| Other amounts receivable | 41 | €1,381,282 | €756,165 | -€625,117 | -45.3% |
| Current investments | 50/53 | €98,280 | €98,280 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,252 | €603,670 | +€566,419 | +1520.5% |
| Deferred charges and accrued income | 490/1 | €27,382 | €40,354 | +€12,972 | +47.4% |
| Total equity and liabilities | 10/49 | €1,677,534 | €1,597,474 | -€80,061 | -4.8% |
| Equity | 10/15 | €1,245,362 | €1,245,841 | +€479 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,158,717 | €1,158,717 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,991 | €23,991 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,991 | €23,991 | = | 0.0% |
| Distributable reserves | 133 | €1,134,726 | €1,134,726 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,444 | €80,923 | +€479 | +0.6% |
| Amounts payable | 17/49 | €432,172 | €351,633 | -€80,540 | -18.6% |
| Amounts payable within one year | 42/48 | €429,640 | €345,610 | -€84,029 | -19.6% |
| Trade debts | 44 | €3,162 | €2,739 | -€423 | -13.4% |
| Suppliers | 440/4 | €3,162 | €2,739 | -€423 | -13.4% |
| Taxes, remuneration and social security | 45 | €48,568 | €2,581 | -€45,987 | -94.7% |
| Taxes | 450/3 | €48,568 | €2,581 | -€45,987 | -94.7% |
| Other amounts payable | 47/48 | €377,909 | €340,290 | -€37,619 | -10.0% |
| Accrued charges and deferred income | 492/3 | €2,533 | €6,022 | +€3,490 | +137.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,471 | €34,335 | -€136 | -0.4% |
| Other operating charges | 640/8 | €3,259 | €3,398 | +€138 | +4.2% |
| Gross operating margin | 9900 | -€15,200 | -€15,292 | -€92 | -0.6% |
| Operating profit (loss) | 9901 | -€52,930 | -€53,024 | -€94 | -0.2% |
| Financial income | 75/76B | €46,501 | €62,354 | +€15,853 | +34.1% |
| Recurring financial income | 75 | €46,501 | €62,354 | +€15,853 | +34.1% |
| Financial charges | 65/66B | €5,392 | €8,719 | +€3,327 | +61.7% |
| Recurring financial charges | 65 | €5,392 | €8,719 | +€3,327 | +61.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,821 | €611 | +€12,432 | |
| Income taxes | 67/77 | €629 | €132 | -€498 | -79.1% |
| Profit (loss) for the period | 9904 | -€12,450 | €479 | +€12,929 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,450 | €479 | +€12,929 |
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 4 October 2026 via checked.be.