Encode Labs: 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.
Encode Labs
Largest movements
- Receivables within one year -€19,264
down €19,264 (-45.8%), from €42,031 to €22,767
of which Trade receivables: -€23,710
- Financial fixed assets -€5,850
down €5,850 (-71.9%), from €8,137 to €2,287
- Tangible fixed assets +€4,419
up €4,419 (+32.5%), from €13,604 to €18,023
of which Furniture and vehicles: +€4,619
- Cash +€4,308
up €4,308 (+25.0%), from €17,229 to €21,538
mainly Other debts (+€23,383) and Receivables within one year (+€19,264)
- Current investments -€1,611
down €1,611 (-17.0%), from €9,468 to €7,857
- Reserves -€29,391
down €29,391 (-49.6%), from €59,304 to €29,913
- Other debts +€23,383
up €23,383 (+1177.2%), from €1,986 to €25,369
- Trade debts -€15,443
down €15,443 (-96.9%), from €15,942 to €499
- Contributions +€4,100
up €4,100 (+28.3%), from €14,500 to €18,600
- Gross operating margin -€24,076
down €24,076 (-65.3%), from €36,887 to €12,810
- Financial income +€6,716
up €6,716 (+2655.7%), from €253 to €6,969
- Taxes -€1,830
down €1,830 (-54.0%), from €3,386 to €1,556
- Financial charges +€862
up €862 (+238.7%), from €361 to €1,223
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 | €93,330 | €75,131 | -€18,198 | -19.5% |
| Fixed assets | 21/28 | €21,741 | €20,310 | -€1,431 | -6.6% |
| Tangible fixed assets | 22/27 | €13,604 | €18,023 | +€4,419 | +32.5% |
| Plant, machinery and equipment | 23 | €6,120 | €5,920 | -€200 | -3.3% |
| Furniture and vehicles | 24 | €7,484 | €12,102 | +€4,619 | +61.7% |
| Financial fixed assets | 28 | €8,137 | €2,287 | -€5,850 | -71.9% |
| Current assets | 29/58 | €71,589 | €54,821 | -€16,767 | -23.4% |
| Amounts receivable within one year | 40/41 | €42,031 | €22,767 | -€19,264 | -45.8% |
| Trade receivables | 40 | €30,319 | €6,610 | -€23,710 | -78.2% |
| Other amounts receivable | 41 | €11,712 | €16,157 | +€4,445 | +38.0% |
| Current investments | 50/53 | €9,468 | €7,857 | -€1,611 | -17.0% |
| Cash at bank and in hand | 54/58 | €17,229 | €21,538 | +€4,308 | +25.0% |
| Deferred charges and accrued income | 490/1 | €2,860 | €2,660 | -€201 | -7.0% |
| Total equity and liabilities | 10/49 | €93,330 | €75,131 | -€18,198 | -19.5% |
| Equity | 10/15 | €73,804 | €48,513 | -€25,291 | -34.3% |
| Contributions | 10/11 | €14,500 | €18,600 | +€4,100 | +28.3% |
| Reserves | 13 | €59,304 | €29,913 | -€29,391 | -49.6% |
| Distributable reserves | 133 | €59,304 | €29,913 | -€29,391 | -49.6% |
| Amounts payable | 17/49 | €19,525 | €26,618 | +€7,093 | +36.3% |
| Amounts payable within one year | 42/48 | €19,525 | €26,618 | +€7,093 | +36.3% |
| Trade debts | 44 | €15,942 | €499 | -€15,443 | -96.9% |
| Suppliers | 440/4 | €15,942 | €499 | -€15,443 | -96.9% |
| Taxes, remuneration and social security | 45 | €1,597 | €750 | -€847 | -53.0% |
| Taxes | 450/3 | €1,597 | €750 | -€847 | -53.0% |
| Other amounts payable | 47/48 | €1,986 | €25,369 | +€23,383 | +1177.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,523 | €4,875 | +€352 | +7.8% |
| Other operating charges | 640/8 | €677 | €725 | +€48 | +7.0% |
| Gross operating margin | 9900 | €36,887 | €12,810 | -€24,076 | -65.3% |
| Operating profit (loss) | 9901 | €31,687 | €7,210 | -€24,476 | -77.2% |
| Financial income | 75/76B | €253 | €6,969 | +€6,716 | +2655.7% |
| Recurring financial income | 75 | €253 | €6,969 | +€6,716 | +2655.7% |
| Financial charges | 65/66B | €361 | €1,223 | +€862 | +238.7% |
| Recurring financial charges | 65 | €361 | €1,223 | +€862 | +238.7% |
| Profit (loss) for the period before taxes | 9903 | €31,578 | €12,957 | -€18,622 | -59.0% |
| Income taxes | 67/77 | €3,386 | €1,556 | -€1,830 | -54.0% |
| Profit (loss) for the period | 9904 | €28,192 | €11,400 | -€16,792 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,192 | €11,400 | -€16,792 | -59.6% |
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 12 October 2026 via checked.be.