ENCOVAN: 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.
ENCOVAN
Largest movements
- Tangible fixed assets -€16,489
down €16,489 (-91.8%), from €17,962 to €1,473
of which Furniture and vehicles: -€14,858
- Receivables within one year -€1,770
down €1,770 (-4.6%), from €38,505 to €36,735
of which Trade receivables: -€1,145
- Cash -€1,699
down €1,699 (-57.4%), from €2,960 to €1,260
mainly Short-term financial debts (-€9,000) and Net result for the year (-€8,559)
- Deferred charges and accrued income -€1,019
no longer reported in 2024 (was €1,019)
- Short-term financial debts -€9,000
no longer reported in 2024 (was €9,000)
- Profit (loss) carried forward -€8,559
down €8,559 (-514.7%), from -€1,663 to -€10,222
- Trade debts -€2,412
down €2,412 (-34.6%), from €6,978 to €4,566
- Debts after one year -€1,432
no longer reported in 2024 (was €1,432)
- Gross operating margin -€14,303
down €14,303 (-84.3%), from €16,962 to €2,659
- Depreciation -€5,287
down €5,287 (-76.4%), from €6,917 to €1,630
- Taxes -€2,489
down €2,489 (-97.8%), from €2,544 to €55
- Financial income +€486
up €486 (+54.7%), from €887 to €1,373
- Other operating charges -€416
down €416 (-30.0%), from €1,387 to €971
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,446 | €39,469 | -€20,977 | -34.7% |
| Fixed assets | 21/28 | €17,962 | €1,473 | -€16,489 | -91.8% |
| Tangible fixed assets | 22/27 | €17,962 | €1,473 | -€16,489 | -91.8% |
| Plant, machinery and equipment | 23 | €3,103 | €1,473 | -€1,630 | -52.5% |
| Furniture and vehicles | 24 | €14,858 | - | -€14,858 | |
| Current assets | 29/58 | €42,484 | €37,996 | -€4,488 | -10.6% |
| Amounts receivable within one year | 40/41 | €38,505 | €36,735 | -€1,770 | -4.6% |
| Trade receivables | 40 | €15,441 | €14,297 | -€1,145 | -7.4% |
| Other amounts receivable | 41 | €23,064 | €22,439 | -€625 | -2.7% |
| Cash at bank and in hand | 54/58 | €2,960 | €1,260 | -€1,699 | -57.4% |
| Deferred charges and accrued income | 490/1 | €1,019 | - | -€1,019 | |
| Total equity and liabilities | 10/49 | €60,446 | €39,469 | -€20,977 | -34.7% |
| Equity | 10/15 | €37,899 | €29,340 | -€8,559 | -22.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €21,012 | €21,012 | = | 0.0% |
| Distributable reserves | 133 | €21,012 | €21,012 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,663 | -€10,222 | -€8,559 | -514.7% |
| Amounts payable | 17/49 | €22,547 | €10,129 | -€12,418 | -55.1% |
| Amounts payable after more than one year | 17 | €1,432 | - | -€1,432 | |
| Financial debts | 170/4 | €1,432 | - | -€1,432 | |
| Amounts payable within one year | 42/48 | €21,116 | €10,129 | -€10,986 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €1,390 | €1,432 | +€42 | +3.0% |
| Financial debts | 43 | €9,000 | - | -€9,000 | |
| Credit institutions | 430/8 | €9,000 | - | -€9,000 | |
| Trade debts | 44 | €6,978 | €4,566 | -€2,412 | -34.6% |
| Suppliers | 440/4 | €6,978 | €4,566 | -€2,412 | -34.6% |
| Taxes, remuneration and social security | 45 | €3,748 | €4,132 | +€384 | +10.3% |
| Taxes | 450/3 | €3,748 | €4,132 | +€384 | +10.3% |
| Non-recurring operating income | 76A | - | €1,100 | +€1,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,917 | €1,630 | -€5,287 | -76.4% |
| Other operating charges | 640/8 | €1,387 | €971 | -€416 | -30.0% |
| Non-recurring operating charges | 66A | - | €7,833 | +€7,833 | |
| Gross operating margin | 9900 | €16,962 | €2,659 | -€14,303 | -84.3% |
| Operating profit (loss) | 9901 | €8,658 | -€7,776 | -€16,433 | |
| Financial income | 75/76B | €887 | €1,373 | +€486 | +54.7% |
| Recurring financial income | 75 | €887 | €1,373 | +€486 | +54.7% |
| Financial charges | 65/66B | €2,180 | €2,101 | -€78 | -3.6% |
| Recurring financial charges | 65 | €2,180 | €2,101 | -€78 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €7,365 | -€8,504 | -€15,870 | |
| Income taxes | 67/77 | €2,544 | €55 | -€2,489 | -97.8% |
| Profit (loss) for the period | 9904 | €4,821 | -€8,559 | -€13,380 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,821 | -€8,559 | -€13,380 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.