Parte ENCO: 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.
Parte ENCO
Largest movements
- Financial fixed assets -€1.8m
down €1.8m (-66.1%), from €2.7m to €900,000
- Receivables within one year -€693,121
down €693,121 (-100%), from €693,121 to €0
- Profit (loss) carried forward -€3.0m
down €3.0m (-692%), from -€427,014 to -€3.4m
- Other debts +€760,851
up €760,851 (+64.2%), from €1.2m to €1.9m
- Current portion of long-term debt -€247,469
down €247,469 (-100%), from €247,469 to €0
- Debts after one year +€70,172
up €70,172 (+3.9%), from €1.8m to €1.9m
- Trade debts -€46,184
down €46,184 (-69.6%), from €66,358 to €20,174
- Financial charges +€2.6m
up €2.6m (+1,724%), from €150,959 to €2.8m
of which Non-recurring financial charges: +€1.7m
- Purchases and services +€256,756
new in 2025: €256,756
- Gross operating margin -€84,637
down €84,637 (-49.7%), from -€170,319 to -€254,956
- Financial income +€17,316
up €17,316 (+45.4%), from €38,121 to €55,436
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.
Derived cash bridge
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 | €3,354,623 | €902,819 | -€2.5m | -73.1% |
| Fixed assets | 21/28 | €2,653,140 | €900,000 | -€1.8m | -66.1% |
| Financial fixed assets | 28 | €2,653,140 | €900,000 | -€1.8m | -66.1% |
| Current assets | 29/58 | €701,483 | €2,819 | -€698,664 | -99.6% |
| Amounts receivable within one year | 40/41 | €693,121 | €0 | -€693,121 | -100% |
| Other amounts receivable | 41 | €693,121 | €0 | -€693,121 | -100% |
| Cash at bank and in hand | 54/58 | €8,362 | €2,819 | -€5,542 | -66.3% |
| Total equity and liabilities | 10/49 | €3,354,623 | €902,819 | -€2.5m | -73.1% |
| Equity | 10/15 | €1,386 | -€2,951,487 | -€3.0m | |
| Contributions | 10/11 | €428,400 | €428,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€427,014 | -€3,379,887 | -€3.0m | -692% |
| Amounts payable | 17/49 | €3,353,237 | €3,854,306 | +€501,069 | +14.9% |
| Amounts payable after more than one year | 17 | €1,818,832 | €1,889,003 | +€70,172 | +3.9% |
| Financial debts | 170/4 | €1,818,832 | €1,889,003 | +€70,172 | +3.9% |
| Amounts payable within one year | 42/48 | €1,498,105 | €1,965,303 | +€467,198 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €247,469 | €0 | -€247,469 | -100% |
| Trade debts | 44 | €66,358 | €20,174 | -€46,184 | -69.6% |
| Suppliers | 440/4 | €66,358 | €20,174 | -€46,184 | -69.6% |
| Other amounts payable | 47/48 | €1,184,278 | €1,945,129 | +€760,851 | +64.2% |
| Accrued charges and deferred income | 492/3 | €36,300 | €0 | -€36,300 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €256,756 | +€256,756 | |
| Other operating charges | 640/8 | €897 | €434 | -€464 | -51.7% |
| Non-recurring operating charges | 66A | €142,959 | €0 | -€142,959 | -100% |
| Gross operating margin | 9900 | -€170,319 | -€254,956 | -€84,637 | -49.7% |
| Operating profit (loss) | 9901 | -€314,175 | -€255,390 | +€58,786 | +18.7% |
| Financial income | 75/76B | €38,121 | €55,436 | +€17,316 | +45.4% |
| Recurring financial income | 75 | €38,121 | €55,436 | +€17,316 | +45.4% |
| Financial charges | 65/66B | €150,959 | €2,752,920 | +€2.6m | +1,724% |
| Recurring financial charges | 65 | €150,959 | €1,087,560 | +€936,601 | +620% |
| Non-recurring financial charges | 66B | - | €1,665,360 | +€1.7m | |
| Profit (loss) for the period before taxes | 9903 | -€427,014 | -€2,952,873 | -€2.5m | -592% |
| Profit (loss) for the period | 9904 | -€427,014 | -€2,952,873 | -€2.5m | -592% |
| Profit (loss) for the period to be appropriated | 9905 | -€427,014 | -€2,952,873 | -€2.5m | -592% |
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 20 October 2026 via checked.be.