Encoja: 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.
Encoja
Largest movements
- Receivables within one year -€62,926
down €62,926 (-46.1%), from €136,430 to €73,503
of which Trade receivables: -€67,588
- Deferred charges and accrued income -€36,576
down €36,576 (-94.3%), from €38,801 to €2,225
- Cash +€25,595
up €25,595 (+64.2%), from €39,845 to €65,439
mainly Receivables within one year (+€62,926) and Deferred charges and accrued income (+€36,576)
- Tangible fixed assets -€6,904
down €6,904 (-11.2%), from €61,780 to €54,877
of which Plant, machinery and equipment: -€5,270
- Trade debts -€37,169
down €37,169 (-50.8%), from €73,169 to €36,000
- Advances received -€33,731
no longer reported in 2025 (was €33,731)
- Reserves -€21,191
down €21,191 (-17.6%), from €120,191 to €99,000
- Other debts +€13,573
up €13,573 (+45.8%), from €29,618 to €43,191
- Write-downs -€50,126
down €50,126, from €9,716 to -€40,410
- Other operating charges +€39,139
up €39,139 (+5,138%), from €762 to €39,900
- Gross operating margin +€25,541
up €25,541 (+41.2%), from €62,041 to €87,582
- Taxes +€15,593
up €15,593 (+612%), from €2,549 to €18,142
- Financial income +€4,649
up €4,649 (+31,305%), from €15 to €4,664
of which Non-recurring financial income: +€4,482
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 | €276,856 | €196,045 | -€80,811 | -29.2% |
| Fixed assets | 21/28 | €61,780 | €54,877 | -€6,904 | -11.2% |
| Tangible fixed assets | 22/27 | €61,780 | €54,877 | -€6,904 | -11.2% |
| Plant, machinery and equipment | 23 | €30,686 | €25,416 | -€5,270 | -17.2% |
| Furniture and vehicles | 24 | €26,652 | €27,063 | +€411 | +1.5% |
| Leasing and similar rights | 25 | €1,445 | - | -€1,445 | |
| Other tangible fixed assets | 26 | €2,996 | €2,397 | -€599 | -20.0% |
| Current assets | 29/58 | €215,076 | €141,168 | -€73,908 | -34.4% |
| Amounts receivable within one year | 40/41 | €136,430 | €73,503 | -€62,926 | -46.1% |
| Trade receivables | 40 | €130,130 | €62,542 | -€67,588 | -51.9% |
| Other amounts receivable | 41 | €6,300 | €10,961 | +€4,661 | +74.0% |
| Cash at bank and in hand | 54/58 | €39,845 | €65,439 | +€25,595 | +64.2% |
| Deferred charges and accrued income | 490/1 | €38,801 | €2,225 | -€36,576 | -94.3% |
| Total equity and liabilities | 10/49 | €276,856 | €196,045 | -€80,811 | -29.2% |
| Equity | 10/15 | €132,591 | €111,400 | -€21,191 | -16.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €120,191 | €99,000 | -€21,191 | -17.6% |
| Distributable reserves | 133 | €120,191 | €99,000 | -€21,191 | -17.6% |
| Amounts payable | 17/49 | €144,265 | €84,644 | -€59,621 | -41.3% |
| Amounts payable within one year | 42/48 | €144,265 | €84,185 | -€60,080 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | €1,562 | - | -€1,562 | |
| Trade debts | 44 | €73,169 | €36,000 | -€37,169 | -50.8% |
| Suppliers | 440/4 | €73,169 | €36,000 | -€37,169 | -50.8% |
| Advances received on contracts in progress | 46 | €33,731 | - | -€33,731 | |
| Taxes, remuneration and social security | 45 | €6,185 | €4,994 | -€1,192 | -19.3% |
| Taxes | 450/3 | €2,750 | €3,427 | +€677 | +24.6% |
| Remuneration and social security | 454/9 | €3,435 | €1,567 | -€1,869 | -54.4% |
| Other amounts payable | 47/48 | €29,618 | €43,191 | +€13,573 | +45.8% |
| Accrued charges and deferred income | 492/3 | - | €460 | +€460 | |
| Remuneration, social security and pensions | 62 | €20,011 | €16,067 | -€3,943 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,064 | €20,407 | +€1,344 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,716 | -€40,410 | -€50,126 | |
| Other operating charges | 640/8 | €762 | €39,900 | +€39,139 | +5,138% |
| Gross operating margin | 9900 | €62,041 | €87,582 | +€25,541 | +41.2% |
| Operating profit (loss) | 9901 | €12,489 | €51,617 | +€39,128 | +313% |
| Financial income | 75/76B | €15 | €4,664 | +€4,649 | +31,305% |
| Recurring financial income | 75 | €15 | €181 | +€166 | +1,120% |
| Non-recurring financial income | 76B | - | €4,482 | +€4,482 | |
| Financial charges | 65/66B | €2,119 | €1,799 | -€320 | -15.1% |
| Recurring financial charges | 65 | €2,119 | €1,799 | -€320 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €10,385 | €54,481 | +€44,097 | +425% |
| Income taxes | 67/77 | €2,549 | €18,142 | +€15,593 | +612% |
| Profit (loss) for the period | 9904 | €7,835 | €36,339 | +€28,504 | +364% |
| Profit (loss) for the period to be appropriated | 9905 | €7,835 | €36,339 | +€28,504 | +364% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.