ENCP: 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.
ENCP
Largest movements
- Receivables within one year -€32,129
down €32,129 (-65.4%), from €49,134 to €17,005
of which Trade receivables: -€32,118
- Cash +€12,774
up €12,774 (+72.8%), from €17,559 to €30,333
mainly Receivables within one year (+€32,129) and Accrued charges and deferred income (+€7,311)
- Deferred charges and accrued income -€2,122
down €2,122 (-100.0%), from €2,122 to €0
- Tangible fixed assets +€899
up €899, from €0 to €899
of which Furniture and vehicles: +€899
- Trade debts -€28,997
down €28,997 (-93.0%), from €31,184 to €2,187
- Accrued charges and deferred income +€7,311
new in 2025: €7,311
- Tax, wage and social debts +€1,281
up €1,281 (+37.9%), from €3,384 to €4,665
- Advances received -€750
no longer reported in 2025 (was €750)
- Gross operating margin -€5,151
down €5,151, from €5,095 to -€56
- Financial income +€1,470
up €1,470 (+2940860.0%), from €0 to €1,470
- Taxes -€1,050
down €1,050 (-82.0%), from €1,280 to €230
- Depreciation -€390
down €390 (-69.1%), from €564 to €175
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 | €68,814 | €48,237 | -€20,577 | -29.9% |
| Fixed assets | 21/28 | - | €899 | +€899 | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | €899 | +€899 | |
| Land and buildings | 22 | €0 | €0 | = | |
| Furniture and vehicles | 24 | - | €899 | +€899 | |
| Current assets | 29/58 | €68,814 | €47,338 | -€21,476 | -31.2% |
| Amounts receivable within one year | 40/41 | €49,134 | €17,005 | -€32,129 | -65.4% |
| Trade receivables | 40 | €49,123 | €17,005 | -€32,118 | -65.4% |
| Other amounts receivable | 41 | €11 | - | -€11 | |
| Cash at bank and in hand | 54/58 | €17,559 | €30,333 | +€12,774 | +72.8% |
| Deferred charges and accrued income | 490/1 | €2,122 | €0 | -€2,122 | -100.0% |
| Total equity and liabilities | 10/49 | €68,814 | €48,237 | -€20,577 | -29.9% |
| Equity | 10/15 | €33,497 | €34,074 | +€577 | +1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,297 | €27,874 | +€577 | +2.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,437 | €26,014 | +€577 | +2.3% |
| Amounts payable | 17/49 | €35,317 | €14,163 | -€21,154 | -59.9% |
| Amounts payable within one year | 42/48 | €35,317 | €6,852 | -€28,465 | -80.6% |
| Trade debts | 44 | €31,184 | €2,187 | -€28,997 | -93.0% |
| Suppliers | 440/4 | €31,184 | €2,187 | -€28,997 | -93.0% |
| Advances received on contracts in progress | 46 | €750 | - | -€750 | |
| Taxes, remuneration and social security | 45 | €3,384 | €4,665 | +€1,281 | +37.9% |
| Taxes | 450/3 | €3,384 | €4,665 | +€1,281 | +37.9% |
| Accrued charges and deferred income | 492/3 | - | €7,311 | +€7,311 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €564 | €175 | -€390 | -69.1% |
| Other operating charges | 640/8 | €249 | €255 | +€6 | +2.5% |
| Gross operating margin | 9900 | €5,095 | -€56 | -€5,151 | |
| Operating profit (loss) | 9901 | €4,283 | -€485 | -€4,768 | |
| Financial income | 75/76B | €0 | €1,470 | +€1,470 | +2940860.0% |
| Recurring financial income | 75 | €0 | €1,470 | +€1,470 | +2940860.0% |
| Financial charges | 65/66B | €182 | €178 | -€4 | -2.1% |
| Recurring financial charges | 65 | €182 | €178 | -€4 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €4,100 | €807 | -€3,293 | -80.3% |
| Income taxes | 67/77 | €1,280 | €230 | -€1,050 | -82.0% |
| Profit (loss) for the period | 9904 | €2,820 | €577 | -€2,243 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,820 | €577 | -€2,243 | -79.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.