ENCOFI: 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.
ENCOFI
Largest movements
- Cash +€439,442
up €439,442 (+50.1%), from €877,592 to €1.3m
mainly Net result for the year (+€963,560) and Trade debts (+€32)
- Profit (loss) carried forward +€963,560
up €963,560 (+35.4%), from €2.7m to €3.7m
- Debts after one year -€500,000
down €500,000 (-11.9%), from €4.2m to €3.7m
- Financial charges -€4,593
down €4,593 (-19.5%), from €23,556 to €18,963
- Gross operating margin -€32
down €32 (-2.4%), from -€1,334 to -€1,366
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.
Derived cash bridge
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 | €6,986,513 | €7,425,955 | +€439,442 | +6.3% |
| Fixed assets | 21/28 | €5,813,464 | €5,813,464 | = | 0.0% |
| Financial fixed assets | 28 | €5,813,464 | €5,813,464 | = | 0.0% |
| Current assets | 29/58 | €1,173,049 | €1,612,491 | +€439,442 | +37.5% |
| Amounts receivable within one year | 40/41 | €295,457 | €295,457 | = | 0.0% |
| Other amounts receivable | 41 | €295,457 | €295,457 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €877,592 | €1,317,034 | +€439,442 | +50.1% |
| Total equity and liabilities | 10/49 | €6,986,513 | €7,425,955 | +€439,442 | +6.3% |
| Equity | 10/15 | €2,744,345 | €3,707,905 | +€963,560 | +35.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,722,345 | €3,685,905 | +€963,560 | +35.4% |
| Amounts payable | 17/49 | €4,242,168 | €3,718,050 | -€524,118 | -12.4% |
| Amounts payable after more than one year | 17 | €4,196,986 | €3,696,986 | -€500,000 | -11.9% |
| Financial debts | 170/4 | €4,196,986 | €3,696,986 | -€500,000 | -11.9% |
| Amounts payable within one year | 42/48 | €45,182 | €21,064 | -€24,118 | -53.4% |
| Trade debts | 44 | €2,115 | €2,147 | +€32 | +1.5% |
| Suppliers | 440/4 | €2,115 | €2,147 | +€32 | +1.5% |
| Other amounts payable | 47/48 | €43,067 | €18,916 | -€24,150 | -56.1% |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Gross operating margin | 9900 | -€1,334 | -€1,366 | -€32 | -2.4% |
| Operating profit (loss) | 9901 | -€2,295 | -€2,334 | -€39 | -1.7% |
| Financial income | 75/76B | €984,857 | €984,857 | = | 0.0% |
| Recurring financial income | 75 | €984,857 | €984,857 | = | 0.0% |
| Financial charges | 65/66B | €23,556 | €18,963 | -€4,593 | -19.5% |
| Recurring financial charges | 65 | €23,556 | €18,963 | -€4,593 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €959,006 | €963,560 | +€4,554 | +0.5% |
| Profit (loss) for the period | 9904 | €959,006 | €963,560 | +€4,554 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €959,006 | €963,560 | +€4,554 | +0.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.