ENCOM GAME: 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 GAME
Largest movements
- Cash -€123,702
down €123,702 (-90.1%), from €137,247 to €13,545
mainly Net result for the year (-€100,661) and Debts after one year (-€22,287)
- Receivables within one year +€17,520
up €17,520 (+62.9%), from €27,855 to €45,374
of which Trade receivables: +€17,044
- Stocks and contracts +€8,870
up €8,870 (+10.6%), from €83,938 to €92,808
- Intangible fixed assets +€8,634
up €8,634 (+138.1%), from €6,253 to €14,886
- Tangible fixed assets -€3,720
down €3,720 (-20.1%), from €18,494 to €14,775
of which Furniture and vehicles: -€2,961
- Profit (loss) carried forward -€100,661
down €100,661, from €1,938 to -€98,723
- Trade debts +€27,227
up €27,227 (+171.6%), from €15,865 to €43,093
- Debts after one year -€22,287
down €22,287 (-12.5%), from €178,671 to €156,383
- Other debts +€16,964
up €16,964 (+294.5%), from €5,761 to €22,725
- Tax, wage and social debts -€12,602
down €12,602 (-52.5%), from €23,993 to €11,391
of which Taxes: -€10,178
- Gross operating margin -€127,421
down €127,421, from €89,195 to -€38,226
- Write-downs -€38,073
down €38,073 (-100.0%), from €38,073 to €0
- Financial charges +€7,550
up €7,550 (+663.9%), from €1,137 to €8,687
- Depreciation +€3,664
up €3,664 (+50.1%), from €7,313 to €10,977
- Taxes -€2,708
down €2,708 (-100.0%), from €2,708 to €0
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 | €274,635 | €182,404 | -€92,232 | -33.6% |
| Fixed assets | 21/28 | €24,747 | €29,661 | +€4,914 | +19.9% |
| Intangible fixed assets | 21 | €6,253 | €14,886 | +€8,634 | +138.1% |
| Tangible fixed assets | 22/27 | €18,494 | €14,775 | -€3,720 | -20.1% |
| Plant, machinery and equipment | 23 | €824 | €427 | -€397 | -48.2% |
| Furniture and vehicles | 24 | €16,044 | €13,083 | -€2,961 | -18.5% |
| Other tangible fixed assets | 26 | €1,627 | €1,265 | -€361 | -22.2% |
| Current assets | 29/58 | €249,888 | €152,742 | -€97,145 | -38.9% |
| Stocks and contracts in progress | 3 | €83,938 | €92,808 | +€8,870 | +10.6% |
| Stocks | 30/36 | €83,938 | €92,808 | +€8,870 | +10.6% |
| Amounts receivable within one year | 40/41 | €27,855 | €45,374 | +€17,520 | +62.9% |
| Trade receivables | 40 | €27,855 | €44,899 | +€17,044 | +61.2% |
| Other amounts receivable | 41 | €0 | €475 | +€475 | |
| Cash at bank and in hand | 54/58 | €137,247 | €13,545 | -€123,702 | -90.1% |
| Deferred charges and accrued income | 490/1 | €848 | €1,015 | +€167 | +19.7% |
| Total equity and liabilities | 10/49 | €274,635 | €182,404 | -€92,232 | -33.6% |
| Equity | 10/15 | €26,938 | -€73,723 | -€100,661 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,938 | -€98,723 | -€100,661 | |
| Amounts payable | 17/49 | €247,697 | €256,127 | +€8,430 | +3.4% |
| Amounts payable after more than one year | 17 | €178,671 | €156,383 | -€22,287 | -12.5% |
| Financial debts | 170/4 | €178,671 | €156,383 | -€22,287 | -12.5% |
| Amounts payable within one year | 42/48 | €66,949 | €99,496 | +€32,547 | +48.6% |
| Current portion of amounts payable after more than one year | 42 | €21,329 | €22,287 | +€958 | +4.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,865 | €43,093 | +€27,227 | +171.6% |
| Suppliers | 440/4 | €15,865 | €43,093 | +€27,227 | +171.6% |
| Taxes, remuneration and social security | 45 | €23,993 | €11,391 | -€12,602 | -52.5% |
| Taxes | 450/3 | €14,284 | €4,106 | -€10,178 | -71.3% |
| Remuneration and social security | 454/9 | €9,709 | €7,286 | -€2,424 | -25.0% |
| Other amounts payable | 47/48 | €5,761 | €22,725 | +€16,964 | +294.5% |
| Accrued charges and deferred income | 492/3 | €2,078 | €247 | -€1,831 | -88.1% |
| Remuneration, social security and pensions | 62 | €39,030 | €41,211 | +€2,180 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,313 | €10,977 | +€3,664 | +50.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €38,073 | €0 | -€38,073 | -100.0% |
| Other operating charges | 640/8 | €822 | €1,561 | +€740 | +90.0% |
| Gross operating margin | 9900 | €89,195 | -€38,226 | -€127,421 | |
| Operating profit (loss) | 9901 | €3,956 | -€91,975 | -€95,932 | |
| Financial income | 75/76B | €87 | €2 | -€86 | -98.3% |
| Recurring financial income | 75 | €87 | €2 | -€86 | -98.3% |
| Financial charges | 65/66B | €1,137 | €8,687 | +€7,550 | +663.9% |
| Recurring financial charges | 65 | €1,137 | €8,687 | +€7,550 | +663.9% |
| Profit (loss) for the period before taxes | 9903 | €2,907 | -€100,661 | -€103,568 | |
| Income taxes | 67/77 | €2,708 | €0 | -€2,708 | -100.0% |
| Profit (loss) for the period | 9904 | €199 | -€100,661 | -€100,860 | |
| Profit (loss) for the period to be appropriated | 9905 | €199 | -€100,661 | -€100,860 |
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 7 October 2026 via checked.be.