ENCOM BV: 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.
ENCOM BV
Largest movements
- Receivables within one year -€58,164
down €58,164 (-69.6%), from €83,513 to €25,350
- Tangible fixed assets +€41,435
up €41,435 (+387.9%), from €10,682 to €52,117
of which Other tangible fixed assets: +€36,339
- Cash -€19,564
down €19,564 (-15.8%), from €123,901 to €104,337
mainly Contributions, distributions and other (-€57,254) and Investment in fixed assets (net) (-€48,565)
- Deferred charges and accrued income +€3,167
up €3,167 (+66.0%), from €4,800 to €7,967
- Reserves -€32,167
down €32,167 (-56.2%), from €57,254 to €25,087
- Trade debts +€25,308
up €25,308 (+548.8%), from €4,612 to €29,919
- Tax, wage and social debts -€12,225
down €12,225 (-28.3%), from €43,261 to €31,036
- Other debts -€12,081
down €12,081 (-11.2%), from €108,261 to €96,180
- Gross operating margin -€90,872
down €90,872 (-58.6%), from €155,042 to €64,170
- Taxes -€12,277
down €12,277 (-32.1%), from €38,272 to €25,995
- Depreciation +€3,021
up €3,021 (+73.5%), from €4,108 to €7,130
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 | €222,896 | €189,770 | -€33,126 | -14.9% |
| Fixed assets | 21/28 | €10,682 | €52,117 | +€41,435 | +387.9% |
| Tangible fixed assets | 22/27 | €10,682 | €52,117 | +€41,435 | +387.9% |
| Plant, machinery and equipment | 23 | €4,087 | €8,067 | +€3,980 | +97.4% |
| Furniture and vehicles | 24 | €2,765 | €3,881 | +€1,116 | +40.4% |
| Other tangible fixed assets | 26 | €3,830 | €40,169 | +€36,339 | +948.9% |
| Current assets | 29/58 | €212,214 | €137,653 | -€74,561 | -35.1% |
| Amounts receivable within one year | 40/41 | €83,513 | €25,350 | -€58,164 | -69.6% |
| Trade receivables | 40 | €83,513 | €25,350 | -€58,164 | -69.6% |
| Cash at bank and in hand | 54/58 | €123,901 | €104,337 | -€19,564 | -15.8% |
| Deferred charges and accrued income | 490/1 | €4,800 | €7,967 | +€3,167 | +66.0% |
| Total equity and liabilities | 10/49 | €222,896 | €189,770 | -€33,126 | -14.9% |
| Equity | 10/15 | €60,254 | €28,087 | -€32,167 | -53.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €57,254 | €25,087 | -€32,167 | -56.2% |
| Distributable reserves | 133 | €57,254 | €25,087 | -€32,167 | -56.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €162,641 | €161,683 | -€958 | -0.6% |
| Amounts payable within one year | 42/48 | €162,639 | €161,683 | -€956 | -0.6% |
| Financial debts | 43 | €6,505 | €4,548 | -€1,957 | -30.1% |
| Credit institutions | 430/8 | €6,505 | €4,548 | -€1,957 | -30.1% |
| Trade debts | 44 | €4,612 | €29,919 | +€25,308 | +548.8% |
| Suppliers | 440/4 | €4,612 | €29,919 | +€25,308 | +548.8% |
| Taxes, remuneration and social security | 45 | €43,261 | €31,036 | -€12,225 | -28.3% |
| Taxes | 450/3 | €43,261 | €31,036 | -€12,225 | -28.3% |
| Other amounts payable | 47/48 | €108,261 | €96,180 | -€12,081 | -11.2% |
| Accrued charges and deferred income | 492/3 | €3 | €0 | -€3 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,108 | €7,130 | +€3,021 | +73.5% |
| Other operating charges | 640/8 | €1,783 | €3,114 | +€1,331 | +74.7% |
| Gross operating margin | 9900 | €155,042 | €64,170 | -€90,872 | -58.6% |
| Operating profit (loss) | 9901 | €149,151 | €53,927 | -€95,224 | -63.8% |
| Financial income | 75/76B | €8 | €3 | -€5 | -60.6% |
| Recurring financial income | 75 | €8 | €3 | -€5 | -60.6% |
| Financial charges | 65/66B | €3,632 | €2,848 | -€785 | -21.6% |
| Recurring financial charges | 65 | €3,632 | €2,848 | -€785 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €145,526 | €51,082 | -€94,444 | -64.9% |
| Income taxes | 67/77 | €38,272 | €25,995 | -€12,277 | -32.1% |
| Profit (loss) for the period | 9904 | €107,254 | €25,087 | -€82,167 | -76.6% |
| Profit (loss) for the period to be appropriated | 9905 | €107,254 | €25,087 | -€82,167 | -76.6% |
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 8 October 2026 via checked.be.