ENCOMO: 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.
ENCOMO
Largest movements
- Tangible fixed assets +€22,856
up €22,856 (+60.9%), from €37,533 to €60,389
- Cash +€18,812
up €18,812 (+40.4%), from €46,597 to €65,409
mainly Other debts (+€66,645) and Net result for the year (+€25,551)
- Receivables within one year +€7,496
up €7,496 (+8.5%), from €88,457 to €95,953
of which Other amounts receivable: +€8,933
- Other debts +€66,645
up €66,645 (+2221.5%), from €3,000 to €69,645
- Reserves -€48,219
down €48,219 (-42.2%), from €114,304 to €66,084
of which Distributable reserves: -€47,143
- Debts after one year +€18,272
up €18,272 (+78.9%), from €23,149 to €41,421
- Current portion of long-term debt +€7,246
up €7,246 (+90.5%), from €8,003 to €15,249
- Tax, wage and social debts +€4,922
up €4,922 (+43.6%), from €11,283 to €16,205
- Gross operating margin +€8,498
up €8,498 (+17.9%), from €47,422 to €55,920
- Taxes +€4,786
up €4,786 (+59.5%), from €8,050 to €12,836
- Depreciation +€3,364
up €3,364 (+33.3%), from €10,103 to €13,467
- Financial charges +€584
up €584 (+19.9%), from €2,937 to €3,521
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 | €175,180 | €225,697 | +€50,517 | +28.8% |
| Fixed assets | 21/28 | €37,533 | €60,389 | +€22,856 | +60.9% |
| Tangible fixed assets | 22/27 | €37,533 | €60,389 | +€22,856 | +60.9% |
| Leasing and similar rights | 25 | €37,533 | €60,389 | +€22,856 | +60.9% |
| Current assets | 29/58 | €137,647 | €165,307 | +€27,661 | +20.1% |
| Amounts receivable within one year | 40/41 | €88,457 | €95,953 | +€7,496 | +8.5% |
| Trade receivables | 40 | €25,490 | €24,052 | -€1,438 | -5.6% |
| Other amounts receivable | 41 | €62,967 | €71,901 | +€8,933 | +14.2% |
| Cash at bank and in hand | 54/58 | €46,597 | €65,409 | +€18,812 | +40.4% |
| Deferred charges and accrued income | 490/1 | €2,593 | €3,946 | +€1,353 | +52.2% |
| Total equity and liabilities | 10/49 | €175,180 | €225,697 | +€50,517 | +28.8% |
| Equity | 10/15 | €126,704 | €78,484 | -€48,219 | -38.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €114,304 | €66,084 | -€48,219 | -42.2% |
| Non-distributable reserves | 130/1 | €1,076 | €0 | -€1,076 | -100.0% |
| Reserves not available under the articles | 1311 | €1,076 | €0 | -€1,076 | -100.0% |
| Distributable reserves | 133 | €113,227 | €66,084 | -€47,143 | -41.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €48,476 | €147,212 | +€98,736 | +203.7% |
| Amounts payable after more than one year | 17 | €23,149 | €41,421 | +€18,272 | +78.9% |
| Financial debts | 170/4 | €23,149 | €41,421 | +€18,272 | +78.9% |
| Amounts payable within one year | 42/48 | €25,205 | €105,792 | +€80,587 | +319.7% |
| Current portion of amounts payable after more than one year | 42 | €8,003 | €15,249 | +€7,246 | +90.5% |
| Trade debts | 44 | €2,919 | €4,693 | +€1,774 | +60.8% |
| Suppliers | 440/4 | €2,919 | €4,693 | +€1,774 | +60.8% |
| Taxes, remuneration and social security | 45 | €11,283 | €16,205 | +€4,922 | +43.6% |
| Taxes | 450/3 | €11,283 | €16,205 | +€4,922 | +43.6% |
| Other amounts payable | 47/48 | €3,000 | €69,645 | +€66,645 | +2221.5% |
| Accrued charges and deferred income | 492/3 | €123 | €0 | -€123 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,103 | €13,467 | +€3,364 | +33.3% |
| Other operating charges | 640/8 | €449 | €545 | +€96 | +21.5% |
| Gross operating margin | 9900 | €47,422 | €55,920 | +€8,498 | +17.9% |
| Operating profit (loss) | 9901 | €36,870 | €41,908 | +€5,038 | +13.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €2,937 | €3,521 | +€584 | +19.9% |
| Recurring financial charges | 65 | €2,937 | €3,521 | +€584 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €33,933 | €38,387 | +€4,454 | +13.1% |
| Income taxes | 67/77 | €8,050 | €12,836 | +€4,786 | +59.5% |
| Profit (loss) for the period | 9904 | €25,883 | €25,551 | -€332 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,883 | €25,551 | -€332 | -1.3% |
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 5 October 2026 via checked.be.