ENGA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 13 filings
Turnover
≈ €200,000
Estimated: probably between €180,000 and €250,000
Total assets
€494,059▲ 6.0%
2024 · €465,915
Net result
€77,513▲ 20.5%
2024 · €64,323
Working capital
€254,431▲ 11.1%
2024 · €228,937
In the rankings
#5 company by total assets in Wuustwezel, Telecoms and IT sector#6 company by equity in Wuustwezel, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€112,726
▲ 19.1%
2025
20182025
Net result
€77,513
▲ 20.5%
2025
highest quarter of the sector
20182025
Equity
€372,323
▲ 9.7%
2025
highest quarter of the sector
20182025
Total assets
€494,059
▲ 6.0%
2025
highest quarter of the sector
20182025
Debt
€121,735
▼ 3.7%
2025
20182025
Working capital
€254,431
▲ 11.1%
2025
highest quarter of the sector
20182025
Solvency
75.4%
▲ 2.5pp
2025
middle half of the sector
20182025
Current ratio
5.55
▼ 0.51
2025
highest quarter of the sector
20182025
Return on assets (ROA)
15.7%
▲ 1.9pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€51,319-€64,092▲ 24.9%€65,425▲ 2.1%€86,706▲ 32.5%€86,240▼ 0.5%€83,429▼ 3.3%€94,632▲ 13.4%€112,726▲ 19.1%
Net result€37,878-€44,744▲ 18.1%€46,062within the sector's middle half▲ 2.9%€61,479within the sector's middle half▲ 33.5%€60,332above the sector's middle half▼ 1.9%€56,415above the sector's middle half▼ 6.5%€64,323above the sector's middle half▲ 14.0%€77,513above the sector's middle half▲ 20.5%
Equity€159,273-€204,017▲ 28.1%€222,448within the sector's middle half▲ 9.0%€236,602within the sector's middle half▲ 6.4%€267,900above the sector's middle half▲ 13.2%€283,110above the sector's middle half▲ 5.7%€339,555above the sector's middle half▲ 19.9%€372,323above the sector's middle half▲ 9.7%
Total assets€389,522-€388,266▼ 0.3%€402,417within the sector's middle half▲ 3.6%€405,992within the sector's middle half▲ 0.9%€416,012above the sector's middle half▲ 2.5%€426,642above the sector's middle half▲ 2.6%€465,915above the sector's middle half▲ 9.2%€494,059above the sector's middle half▲ 6.0%
Debt€230,250-€184,249▼ 20.0%€179,970▼ 2.3%€169,389▼ 5.9%€148,111▼ 12.6%€143,532▼ 3.1%€126,360▼ 12.0%€121,735▼ 3.7%
Working capital€133,874-€170,491▲ 27.4%€180,008within the sector's middle half▲ 5.6%€184,540within the sector's middle half▲ 2.5%€167,964above the sector's middle half▼ 9.0%€183,680above the sector's middle half▲ 9.4%€228,937above the sector's middle half▲ 24.6%€254,431above the sector's middle half▲ 11.1%
Solvency40.9%-52.5%▲ 11.7pp55.3%within the sector's middle half▲ 2.7pp58.3%within the sector's middle half▲ 3.0pp64.4%within the sector's middle half▲ 6.1pp66.4%within the sector's middle half▲ 2.0pp72.9%within the sector's middle half▲ 6.5pp75.4%within the sector's middle half▲ 2.5pp
Current ratio3.35-7.33▲ 3.985.66above the sector's middle half▼ 1.685.19above the sector's middle half▼ 0.475.33above the sector's middle half▲ 0.144.88within the sector's middle half▼ 0.456.07above the sector's middle half▲ 1.195.55above the sector's middle half▼ 0.51
Return on assets (ROA)9.7%-11.5%▲ 1.8pp11.4%within the sector's middle half▼ 0.1pp15.1%within the sector's middle half▲ 3.7pp14.5%within the sector's middle half▼ 0.6pp13.2%within the sector's middle half▼ 1.3pp13.8%within the sector's middle half▲ 0.6pp15.7%within the sector's middle half▲ 1.9pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 19% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €494,059
Fixed assets
€183,764 ▼ 4.2%
Current assets
€310,295 ▲ 13.2%
Equity and liabilities €494,059
Equity
€372,323 ▲ 9.7%
Debt
€121,735 ▼ 3.7%
Debt's share of the balance-sheet total falls from 27.1% to 24.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€129,579▲
2024 · €108,552
Cash flow
€94,366▲
2024 · €78,242
Debt to equity
0.33▼
2024 · 0.37
ROE
20.8%▲
2024 · 18.9%
Interest coverage
29.15▲
2024 · 21.64
Debt ≤ 1 year
€55,863▲
2024 · €45,168
Debt > 1 year
€65,872▼
2024 · €81,193
Income taxes
€30,768▲
2024 · €25,293
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €141,334 | - | - | - | - |
| Mortgages, amount registered | €120,000 | - | - | €132,000 | €132,000 |
| Carrying value of the mortgaged assets | €177,396 | - | - | €159,396 | €153,396 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €38,358 | - | €10,091 | €8,807 |
| Financial fixed assets | - | - | - | €40 | €0 |
| Depreciation and write-downs of the year | €6,377 | €6,483 | €13,672 | €13,920 | €16,853 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €1,035 awarded · €1,035 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,466 | €7,873 | €7,086 | €6,377 | €6,483 | €13,672 | €13,920 | €16,853 | ▲ 21.1% |
| Other operating charges640/8 | - | - | - | €1,228 | €2,035 | €1,370 | €2,035 | €1,974 | ▼ 3.0% |
| Gross operating margin9900 | €65,362 | €73,054 | €73,681 | €94,311 | €94,759 | €98,470 | €110,587 | €131,552 | ▲ 19.0% |
| Operating profit (loss)9901 | €51,319 | €64,092 | €65,425 | €86,706 | €86,240 | €83,429 | €94,632 | €112,726 | ▲ 19.1% |
| Financial income75/76B | - | - | - | €0 | €0 | €0 | €0 | €0 | = |
| Recurring financial income75 | €13 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | = |
| Financial charges65/66B | - | - | - | €1,122 | €1,900 | €5,421 | €5,017 | €4,445 | ▼ 11.4% |
| Recurring financial charges65 | €1,828 | €1,583 | €1,402 | €1,122 | €1,900 | €5,421 | €5,017 | €4,445 | ▼ 11.4% |
| Profit (loss) for the period before taxes9903 | €49,504 | €62,509 | €64,024 | €85,584 | €84,340 | €78,007 | €89,616 | €108,281 | ▲ 20.8% |
| Income taxes67/77 | €11,626 | €17,765 | €17,961 | €24,105 | €24,009 | €21,593 | €25,293 | €30,768 | ▲ 21.6% |
| Profit (loss) for the period9904 | €37,878 | €44,744 | €46,062 | €61,479 | €60,332 | €56,415 | €64,323 | €77,513 | ▲ 20.5% |
| Profit (loss) for the period to be appropriated9905 | €37,878 | €44,744 | €46,062 | €61,479 | €60,332 | €56,415 | €64,323 | €77,513 | ▲ 20.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €389,522 | €388,266 | €402,417 | €405,992 | €416,012 | €426,642 | €465,915 | €494,059 | ▲ 6.0% |
| Fixed assets21/28 | €198,732 | €190,859 | €183,773 | €177,396 | €209,270 | €195,598 | €191,810 | €183,764 | ▼ 4.2% |
| Tangible fixed assets22/27 | €198,732 | €190,859 | €183,773 | €177,396 | €209,270 | €195,598 | €191,770 | €183,724 | ▼ 4.2% |
| Land and buildings22 | - | - | - | €177,396 | €171,396 | €165,396 | €159,396 | €153,396 | ▼ 3.8% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €9,843 | €15,469 | ▲ 57.2% |
| Furniture and vehicles24 | - | - | - | - | €37,874 | €30,203 | €22,531 | €14,860 | ▼ 34.0% |
| Financial fixed assets28 | - | - | - | - | - | - | €40 | €40 | = |
| Current assets29/58 | €190,790 | €197,407 | €218,644 | €228,596 | €206,742 | €231,043 | €274,105 | €310,295 | ▲ 13.2% |
| Amounts receivable within one year40/41 | €21,688 | €11,580 | €22,347 | €27,322 | €35,009 | €33,281 | €33,478 | €35,025 | ▲ 4.6% |
| Trade receivables40 | - | - | - | €27,322 | €35,009 | €33,281 | €33,478 | €35,025 | ▲ 4.6% |
| Cash at bank and in hand54/58 | €169,102 | €185,827 | €196,298 | €201,274 | €171,733 | €197,762 | €238,567 | €273,029 | ▲ 14.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €2,061 | €2,241 | ▲ 8.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €389,522 | €388,266 | €402,417 | €405,992 | €416,012 | €426,642 | €465,915 | €494,059 | ▲ 6.0% |
| Equity10/15 | €159,273 | €204,017 | €222,448 | €236,602 | €267,900 | €283,110 | €339,555 | €372,323 | ▲ 9.7% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €153,073 | €197,817 | €216,248 | €230,402 | €261,700 | €276,910 | €333,355 | €366,123 | ▲ 9.8% |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €228,547 | €259,845 | €276,910 | €333,355 | €366,123 | ▲ 9.8% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €230,250 | €184,249 | €179,970 | €169,389 | €148,111 | €143,532 | €126,360 | €121,735 | ▼ 3.7% |
| Amounts payable after more than one year17 | €173,334 | €157,334 | €141,334 | €125,334 | €109,334 | €95,810 | €81,193 | €65,872 | ▼ 18.9% |
| Financial debts170/4 | - | - | - | €125,334 | €109,334 | €95,810 | €81,193 | €65,872 | ▼ 18.9% |
| Amounts payable within one year42/48 | €56,916 | €26,916 | €38,636 | €44,056 | €38,778 | €47,363 | €45,168 | €55,863 | ▲ 23.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,000 | €16,000 | €13,932 | €14,617 | €15,321 | ▲ 4.8% |
| Trade debts44 | €752 | €1,622 | €4,050 | €364 | €858 | €1,524 | €250 | €186 | ▼ 25.9% |
| Suppliers440/4 | - | - | - | €364 | €858 | €1,524 | €250 | €186 | ▼ 25.9% |
| Taxes, remuneration and social security45 | - | - | - | €26,451 | €17,298 | €22,158 | €21,311 | €34,922 | ▲ 63.9% |
| Taxes450/3 | - | - | - | €23,651 | €14,998 | €19,858 | €19,011 | €32,622 | ▲ 71.6% |
| Remuneration and social security454/9 | - | - | - | €2,800 | €2,300 | €2,300 | €2,300 | €2,300 | = |
| Other amounts payable47/48 | - | - | - | €1,240 | €4,622 | €9,749 | €8,990 | €5,435 | ▼ 39.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €359 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,878 | €44,744 | €46,062 | €61,479 | €60,332 | €56,415 | €64,323 | €77,513 | ▲ 20.5% |
| + Depreciation and write-downs630 | €13,466 | €7,873 | €7,086 | €6,377 | €6,483 | €13,672 | €13,920 | €16,853 | ▲ 21.1% |
| Operating cash flow (approximation) | €51,344 | €52,617 | €53,148 | €67,856 | €66,815 | €70,086 | €78,242 | €94,366 | ▲ 20.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€38,358 | €0 | -€10,131 | -€8,807 | ▲ 13.1% |
| Change in cash | - | €16,725 | €10,471 | €4,976 | -€29,541 | €26,029 | €40,805 | €34,462 | ▼ 15.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,811 companies had the same profile as ENGA has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of ENGA itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,811 companies, not a prediction for ENGA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-07-2026 | 2026-00294731 | |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00286182 | |
| 31-12-2023 | micro format | 19-07-2024 | 2024-00268975 | |
| 31-12-2022 | micro format | 11-07-2023 | 2023-00225391 | |
| 31-12-2021 | abbreviated format | 11-07-2022 | 2022-20176530 | |
| 31-12-2020 | abbreviated format | 09-07-2021 | 2021-33400012 | |
| 31-12-2019 | abbreviated format | 25-06-2020 | 2020-20500535 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-25600161 | |
| 31-12-2017 | abbreviated format | 02-07-2018 | 2018-27000281 | |
| 31-12-2016 | abbreviated format | 03-07-2017 | 2017-27400428 |