ENTRAFOR: 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.
ENTRAFOR
Largest movements
- Receivables within one year +€40,858
up €40,858 (+46.6%), from €87,600 to €128,458
of which Other amounts receivable: +€36,563
- Stocks and contracts +€32,739
up €32,739 (+57.8%), from €56,654 to €89,393
- Cash -€29,394
down €29,394 (-100.0%), from €29,406 to €11
mainly Short-term financial debts (-€148,512) and Investment in fixed assets (net) (-€71,841)
- Short-term financial debts -€148,512
down €148,512 (-99.0%), from €150,000 to €1,488
- Debts after one year +€89,352
up €89,352 (+36.0%), from €248,293 to €337,645
- Current portion of long-term debt +€75,363
up €75,363 (+110.3%), from €68,355 to €143,719
- Profit (loss) carried forward -€54,890
down €54,890, from €38,049 to -€16,841
- Trade debts +€40,916
up €40,916 (+342.0%), from €11,965 to €52,881
- Staff costs +€116,247
up €116,247 (+33.2%), from €350,236 to €466,483
- Financial income +€56,214
up €56,214 (+5565729.7%), from €1 to €56,215
of which Non-recurring financial income: +€56,215
- Depreciation +€9,291
up €9,291 (+14.4%), from €64,712 to €74,003
- Taxes -€5,465
no longer reported in 2025 (was €5,465)
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 | €536,981 | €579,021 | +€42,040 | +7.8% |
| Fixed assets | 21/28 | €363,321 | €361,159 | -€2,162 | -0.6% |
| Tangible fixed assets | 22/27 | €356,227 | €354,065 | -€2,162 | -0.6% |
| Land and buildings | 22 | €217,888 | €204,253 | -€13,634 | -6.3% |
| Plant, machinery and equipment | 23 | €19,232 | €35,399 | +€16,167 | +84.1% |
| Furniture and vehicles | 24 | €119,107 | €114,412 | -€4,695 | -3.9% |
| Financial fixed assets | 28 | €7,094 | €7,094 | = | 0.0% |
| Current assets | 29/58 | €173,659 | €217,862 | +€44,203 | +25.5% |
| Stocks and contracts in progress | 3 | €56,654 | €89,393 | +€32,739 | +57.8% |
| Stocks | 30/36 | €56,654 | €89,393 | +€32,739 | +57.8% |
| Amounts receivable within one year | 40/41 | €87,600 | €128,458 | +€40,858 | +46.6% |
| Trade receivables | 40 | €60,945 | €65,240 | +€4,295 | +7.0% |
| Other amounts receivable | 41 | €26,655 | €63,218 | +€36,563 | +137.2% |
| Cash at bank and in hand | 54/58 | €29,406 | €11 | -€29,394 | -100.0% |
| Total equity and liabilities | 10/49 | €536,981 | €579,021 | +€42,040 | +7.8% |
| Equity | 10/15 | €58,049 | €3,159 | -€54,890 | -94.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,049 | -€16,841 | -€54,890 | |
| Amounts payable | 17/49 | €478,932 | €575,862 | +€96,930 | +20.2% |
| Amounts payable after more than one year | 17 | €248,293 | €337,645 | +€89,352 | +36.0% |
| Financial debts | 170/4 | €248,293 | €337,645 | +€89,352 | +36.0% |
| Amounts payable within one year | 42/48 | €230,639 | €238,216 | +€7,578 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €68,355 | €143,719 | +€75,363 | +110.3% |
| Financial debts | 43 | €150,000 | €1,488 | -€148,512 | -99.0% |
| Credit institutions | 430/8 | €150,000 | €1,488 | -€148,512 | -99.0% |
| Trade debts | 44 | €11,965 | €52,881 | +€40,916 | +342.0% |
| Suppliers | 440/4 | €11,965 | €52,881 | +€40,916 | +342.0% |
| Taxes, remuneration and social security | 45 | €319 | €22,128 | +€21,810 | +6841.1% |
| Taxes | 450/3 | €319 | €22,128 | +€21,810 | +6841.1% |
| Other amounts payable | 47/48 | - | €18,000 | +€18,000 | |
| Remuneration, social security and pensions | 62 | €350,236 | €466,483 | +€116,247 | +33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,712 | €74,003 | +€9,291 | +14.4% |
| Other operating charges | 640/8 | €5,392 | €4,685 | -€707 | -13.1% |
| Non-recurring operating charges | 66A | €1,077 | €303 | -€774 | -71.9% |
| Gross operating margin | 9900 | €462,222 | €458,456 | -€3,767 | -0.8% |
| Operating profit (loss) | 9901 | €40,805 | -€87,018 | -€127,824 | |
| Financial income | 75/76B | €1 | €56,215 | +€56,214 | +5565729.7% |
| Recurring financial income | 75 | €1 | €56,215 | +€56,214 | +5565729.7% |
| Non-recurring financial income | 76B | - | €56,215 | +€56,215 | |
| Financial charges | 65/66B | €21,399 | €24,086 | +€2,687 | +12.6% |
| Recurring financial charges | 65 | €21,399 | €24,086 | +€2,687 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | €19,408 | -€54,890 | -€74,297 | |
| Income taxes | 67/77 | €5,465 | - | -€5,465 | |
| Profit (loss) for the period | 9904 | €13,943 | -€54,890 | -€68,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,943 | -€54,890 | -€68,832 |
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.