Encerta: 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.
Encerta
Largest movements
- Receivables after one year -€120,000
down €120,000 (-100.0%), from €120,000 to €0
- Tangible fixed assets -€22,635
down €22,635 (-100.0%), from €22,635 to €0
- Cash -€13,547
down €13,547 (-30.8%), from €43,973 to €30,426
mainly Contributions, distributions and other (-€238,511)
- Receivables within one year -€11,143
down €11,143 (-25.9%), from €42,955 to €31,812
- Deferred charges and accrued income -€2,758
down €2,758 (-100.0%), from €2,758 to €0
- Reserves -€180,390
down €180,390 (-99.7%), from €180,937 to €547
- Tax, wage and social debts +€8,797
up €8,797 (+19.8%), from €44,384 to €53,181
- Gross operating margin -€78,970
down €78,970 (-49.8%), from €158,467 to €79,497
- Staff costs -€14,660
down €14,660 (-100.0%), from €14,660 to €0
- Taxes -€10,141
down €10,141 (-32.2%), from €31,531 to €21,390
- Depreciation -€6,300
down €6,300 (-90.4%), from €6,967 to €667
- Financial income +€4,629
up €4,629 (+256.3%), from €1,806 to €6,435
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 | €232,322 | €62,511 | -€169,811 | -73.1% |
| Fixed assets | 21/28 | €22,635 | €272 | -€22,363 | -98.8% |
| Intangible fixed assets | 21 | - | €272 | +€272 | |
| Tangible fixed assets | 22/27 | €22,635 | €0 | -€22,635 | -100.0% |
| Furniture and vehicles | 24 | €22,635 | €0 | -€22,635 | -100.0% |
| Current assets | 29/58 | €209,687 | €62,239 | -€147,449 | -70.3% |
| Amounts receivable after more than one year | 29 | €120,000 | €0 | -€120,000 | -100.0% |
| Other amounts receivable | 291 | €120,000 | €0 | -€120,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €42,955 | €31,812 | -€11,143 | -25.9% |
| Trade receivables | 40 | €42,955 | €31,812 | -€11,143 | -25.9% |
| Cash at bank and in hand | 54/58 | €43,973 | €30,426 | -€13,547 | -30.8% |
| Deferred charges and accrued income | 490/1 | €2,758 | €0 | -€2,758 | -100.0% |
| Total equity and liabilities | 10/49 | €232,322 | €62,511 | -€169,811 | -73.1% |
| Equity | 10/15 | €183,337 | €2,947 | -€180,390 | -98.4% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €180,937 | €547 | -€180,390 | -99.7% |
| Distributable reserves | 133 | €180,937 | €547 | -€180,390 | -99.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €48,985 | €59,564 | +€10,578 | +21.6% |
| Amounts payable within one year | 42/48 | €48,985 | €59,564 | +€10,578 | +21.6% |
| Trade debts | 44 | €4,539 | €5,701 | +€1,162 | +25.6% |
| Suppliers | 440/4 | €4,539 | €5,701 | +€1,162 | +25.6% |
| Taxes, remuneration and social security | 45 | €44,384 | €53,181 | +€8,797 | +19.8% |
| Taxes | 450/3 | €44,384 | €53,181 | +€8,797 | +19.8% |
| Other amounts payable | 47/48 | €62 | €681 | +€619 | +1003.2% |
| Remuneration, social security and pensions | 62 | €14,660 | €0 | -€14,660 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,967 | €667 | -€6,300 | -90.4% |
| Other operating charges | 640/8 | €596 | €834 | +€238 | +39.9% |
| Non-recurring operating charges | 66A | - | €4,754 | +€4,754 | |
| Gross operating margin | 9900 | €158,467 | €79,497 | -€78,970 | -49.8% |
| Operating profit (loss) | 9901 | €136,244 | €73,242 | -€63,002 | -46.2% |
| Financial income | 75/76B | €1,806 | €6,435 | +€4,629 | +256.3% |
| Recurring financial income | 75 | €1,806 | €6,435 | +€4,629 | +256.3% |
| Financial charges | 65/66B | €180 | €165 | -€14 | -8.0% |
| Recurring financial charges | 65 | €180 | €165 | -€14 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €137,871 | €79,512 | -€58,359 | -42.3% |
| Income taxes | 67/77 | €31,531 | €21,390 | -€10,141 | -32.2% |
| Profit (loss) for the period | 9904 | €106,340 | €58,122 | -€48,218 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €106,340 | €58,122 | -€48,218 | -45.3% |
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.