3E: 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.
What changed
3E
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4.3m
2024 · -€4.5m+€170,506
Equity
€2.1m
2024 · €414,030+€1.7m
Cash
€958,385
2024 · €526,143+€432,242
Balance sheet total
€15.8m
2024 · €14.0m+€1.7m
Largest movements
Assets
- Receivables within one year +€827,686
up €827,686 (+21.2%), from €3.9m to €4.7m
of which Other amounts receivable: +€1.1m
- Intangible fixed assets +€716,034
up €716,034 (+11.4%), from €6.3m to €7.0m
- Cash +€432,242
up €432,242 (+82.2%), from €526,143 to €958,385
mainly Contributions, distributions and other (+€6.0m) and Depreciation (+€2.5m)
- Stocks and contracts -€194,640
down €194,640 (-15.9%), from €1.2m to €1.0m
of which Contracts in progress: -€184,297
Equity and liabilities
- Contributions +€2.0m
up €2.0m (+502.7%), from €392,685 to €2.4m
- Advances received +€467,009
up €467,009 (+111.5%), from €418,806 to €885,815
- Profit (loss) carried forward -€293,347
down €293,347 (-258.6%), from -€113,452 to -€406,798
- Current portion of long-term debt -€221,285
down €221,285 (-50.1%), from €441,301 to €220,016
- Trade debts -€218,566
down €218,566 (-9.4%), from €2.3m to €2.1m
Income statement
- Turnover +€1.8m
up €1.8m (+15.8%), from €11.2m to €13.0m
- Financial income -€463,083
down €463,083 (-55.8%), from €829,341 to €366,258
- Depreciation +€382,149
up €382,149 (+18.1%), from €2.1m to €2.5m
- Goods and materials +€352,703
up €352,703 (+19.8%), from €1.8m to €2.1m
of which Purchases: +€350,679
- Financial charges +€187,732
up €187,732 (+40.2%), from €467,186 to €654,918
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.
Result 2024
-€4.5m
Turnover
+€1.8m
Other operating income
+€165,688
Goods and materials
-€352,703
Services and other goods
-€161,858
Staff costs
-€145,902
Depreciation
-€382,149
Write-downs
-€170,147
Other operating charges
+€59,128
Other operating items
+€36,454
Financial income
-€463,083
Financial charges
-€187,732
Taxes
+€2,119
Result 2025
-€4.3m
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.
From operations
-€2.1m
Investment
-€3.2m
Financing
+€5.7m
Cash 2024
€526,143
From operations (derived)
-€2.1m
Net result for the year
-€4.3m
Depreciation
+€2.5m
Stocks and contracts
+€194,640
Receivables within one year
-€827,686
Deferred charges and accrued income
-€19,827
Trade debts
-€218,566
Tax, wage and social debts
+€73,932
Advances received
+€467,009
Other debts
+€89,905
Accrued charges and deferred income
-€20,784
Investment (derived)
-€3.2m
Investment in fixed assets (net)
-€3.2m
Financing
+€5.7m
Debts after one year
+€19,392
Current portion of long-term debt
-€221,285
Short-term financial debts
-€122,358
Contributions, distributions and other
+€6.0m
Cash 2025
€958,385
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,014,249 | €15,762,115 | +€1.7m | +12.5% |
| Fixed assets | 21/28 | €8,131,516 | €8,794,268 | +€662,752 | +8.2% |
| Intangible fixed assets | 21 | €6,289,017 | €7,005,051 | +€716,034 | +11.4% |
| Tangible fixed assets | 22/27 | €540,051 | €482,489 | -€57,561 | -10.7% |
| Plant, machinery and equipment | 23 | €398,973 | €375,588 | -€23,385 | -5.9% |
| Furniture and vehicles | 24 | €56,792 | €37,519 | -€19,273 | -33.9% |
| Other tangible fixed assets | 26 | €84,285 | €69,381 | -€14,904 | -17.7% |
| Financial fixed assets | 28 | €1,302,449 | €1,306,728 | +€4,279 | +0.3% |
| Affiliated companies | 280/1 | €1,296,149 | €1,296,149 | = | 0.0% |
| Participating interests | 280 | €1,296,149 | €1,296,149 | = | 0.0% |
| Other financial fixed assets | 284/8 | €6,300 | €10,579 | +€4,279 | +67.9% |
| Amounts receivable and cash guarantees | 285/8 | €6,300 | €10,579 | +€4,279 | +67.9% |
| Current assets | 29/58 | €5,882,733 | €6,967,847 | +€1.1m | +18.4% |
| Stocks and contracts in progress | 3 | €1,226,966 | €1,032,326 | -€194,640 | -15.9% |
| Stocks | 30/36 | €10,344 | €0 | -€10,344 | -100.0% |
| Goods purchased for resale | 34 | €10,344 | €0 | -€10,344 | -100.0% |
| Contracts in progress | 37 | €1,216,622 | €1,032,326 | -€184,297 | -15.1% |
| Amounts receivable within one year | 40/41 | €3,906,663 | €4,734,349 | +€827,686 | +21.2% |
| Trade receivables | 40 | €2,835,428 | €2,544,693 | -€290,736 | -10.3% |
| Other amounts receivable | 41 | €1,071,235 | €2,189,656 | +€1.1m | +104.4% |
| Cash at bank and in hand | 54/58 | €526,143 | €958,385 | +€432,242 | +82.2% |
| Deferred charges and accrued income | 490/1 | €222,960 | €242,787 | +€19,827 | +8.9% |
| Total equity and liabilities | 10/49 | €14,014,249 | €15,762,115 | +€1.7m | +12.5% |
| Equity | 10/15 | €414,030 | €2,094,650 | +€1.7m | +405.9% |
| Contributions | 10/11 | €392,685 | €2,366,652 | +€2.0m | +502.7% |
| Capital | 10 | €392,685 | €2,366,652 | +€2.0m | +502.7% |
| Issued capital | 100 | €392,685 | €2,366,652 | +€2.0m | +502.7% |
| Reserves | 13 | €134,797 | €134,797 | = | 0.0% |
| Non-distributable reserves | 130/1 | €134,797 | €134,797 | = | 0.0% |
| Legal reserve | 130 | €134,797 | €134,797 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,452 | -€406,798 | -€293,347 | -258.6% |
| Amounts payable | 17/49 | €13,600,219 | €13,667,464 | +€67,245 | +0.5% |
| Amounts payable after more than one year | 17 | €4,203,872 | €4,223,263 | +€19,392 | +0.5% |
| Financial debts | 170/4 | €4,203,872 | €4,223,263 | +€19,392 | +0.5% |
| Subordinated loans | 170 | €3,910,221 | €3,964,733 | +€54,513 | +1.4% |
| Credit institutions | 173 | €293,651 | €258,530 | -€35,121 | -12.0% |
| Amounts payable within one year | 42/48 | €8,198,118 | €8,266,755 | +€68,637 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €441,301 | €220,016 | -€221,285 | -50.1% |
| Financial debts | 43 | €3,582,351 | €3,459,993 | -€122,358 | -3.4% |
| Credit institutions | 430/8 | €3,582,351 | €3,459,993 | -€122,358 | -3.4% |
| Trade debts | 44 | €2,332,567 | €2,114,001 | -€218,566 | -9.4% |
| Suppliers | 440/4 | €2,332,567 | €2,114,001 | -€218,566 | -9.4% |
| Advances received on contracts in progress | 46 | €418,806 | €885,815 | +€467,009 | +111.5% |
| Taxes, remuneration and social security | 45 | €1,306,258 | €1,380,190 | +€73,932 | +5.7% |
| Taxes | 450/3 | €151,671 | €150,296 | -€1,376 | -0.9% |
| Remuneration and social security | 454/9 | €1,154,587 | €1,229,894 | +€75,307 | +6.5% |
| Other amounts payable | 47/48 | €116,835 | €206,740 | +€89,905 | +77.0% |
| Accrued charges and deferred income | 492/3 | €1,198,230 | €1,177,446 | -€20,784 | -1.7% |
| Operating income | 70/76A | €13,572,277 | €15,386,195 | +€1.8m | +13.4% |
| Turnover | 70 | €11,210,774 | €12,981,465 | +€1.8m | +15.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €239,860 | -€184,297 | -€424,157 | |
| Own construction capitalised | 72 | €1,796,856 | €2,085,465 | +€288,610 | +16.1% |
| Other operating income | 74 | €324,787 | €490,475 | +€165,688 | +51.0% |
| Non-recurring operating income | 76A | - | €13,087 | +€13,087 | |
| Operating charges | 60/66A | €18,493,201 | €19,487,917 | +€994,717 | +5.4% |
| Goods for resale, raw materials and consumables | 60 | €1,780,980 | €2,133,683 | +€352,703 | +19.8% |
| Purchases | 600/8 | €1,772,660 | €2,123,339 | +€350,679 | +19.8% |
| Change in stocks: decrease (increase) | 609 | €8,320 | €10,344 | +€2,023 | +24.3% |
| Services and other goods | 61 | €7,051,408 | €7,213,266 | +€161,858 | +2.3% |
| Remuneration, social security and pensions | 62 | €7,244,273 | €7,390,175 | +€145,902 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,113,905 | €2,496,053 | +€382,149 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €170,147 | +€170,147 | |
| Other operating charges | 640/8 | €143,721 | €84,592 | -€59,128 | -41.1% |
| Non-recurring operating charges | 66A | €158,914 | - | -€158,914 | |
| Operating profit (loss) | 9901 | -€4,920,924 | -€4,101,722 | +€819,202 | +16.6% |
| Financial income | 75/76B | €829,341 | €366,258 | -€463,083 | -55.8% |
| Recurring financial income | 75 | €829,341 | €366,258 | -€463,083 | -55.8% |
| Income from current assets | 751 | €800,752 | €356,649 | -€444,103 | -55.5% |
| Other financial income | 752/9 | €28,589 | €9,609 | -€18,981 | -66.4% |
| Financial charges | 65/66B | €467,186 | €654,918 | +€187,732 | +40.2% |
| Recurring financial charges | 65 | €467,186 | €654,918 | +€187,732 | +40.2% |
| Debt charges | 650 | €437,430 | €534,717 | +€97,287 | +22.2% |
| Other financial charges | 652/9 | €29,756 | €120,201 | +€90,445 | +304.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,558,769 | -€4,390,382 | +€168,387 | +3.7% |
| Income taxes | 67/77 | -€68,924 | -€71,043 | -€2,119 | -3.1% |
| Taxes | 670/3 | €682 | - | -€682 | |
| Tax adjustments and reversals of tax provisions | 77 | €69,606 | €71,043 | +€1,437 | +2.1% |
| Profit (loss) for the period | 9904 | -€4,489,845 | -€4,319,339 | +€170,506 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,489,845 | -€4,319,339 | +€170,506 | +3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.