BAL ENGENEERING: 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.
BAL ENGENEERING
Largest movements
- Receivables within one year +€25,185
up €25,185 (+40.5%), from €62,219 to €87,404
of which Trade receivables: +€20,570
- Cash -€21,854
down €21,854 (-37.9%), from €57,605 to €35,751
mainly Receivables within one year (-€25,185) and Trade debts (-€3,906)
No liability line moved by more than 1% of the balance sheet total.
- Turnover -€204,000
no longer reported in 2025 (was €204,000)
- Services and other goods -€200,242
no longer reported in 2025 (was €200,242)
- Gross operating margin +€15,461
new in 2025: €15,461
- Other operating income -€5,727
no longer reported in 2025 (was €5,727)
- Taxes +€2,145
up €2,145 (+198%), from €1,081 to €3,225
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 | €2,076,766 | €2,077,401 | +€635 | 0.0% |
| Fixed assets | 21/28 | €1,956,942 | €1,954,246 | -€2,696 | -0.1% |
| Tangible fixed assets | 22/27 | €4,268 | €1,572 | -€2,696 | -63.2% |
| Furniture and vehicles | 24 | €4,268 | €1,572 | -€2,696 | -63.2% |
| Financial fixed assets | 28 | €1,952,674 | €1,952,674 | = | 0.0% |
| Affiliated companies | 280/1 | €1,952,674 | - | -€2.0m | |
| Participating interests | 280 | €1,952,674 | - | -€2.0m | |
| Current assets | 29/58 | €119,824 | €123,155 | +€3,331 | +2.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €62,219 | €87,404 | +€25,185 | +40.5% |
| Trade receivables | 40 | €41,140 | €61,710 | +€20,570 | +50.0% |
| Other amounts receivable | 41 | €21,079 | €25,694 | +€4,615 | +21.9% |
| Cash at bank and in hand | 54/58 | €57,605 | €35,751 | -€21,854 | -37.9% |
| Total equity and liabilities | 10/49 | €2,076,766 | €2,077,401 | +€635 | 0.0% |
| Equity | 10/15 | €1,942,816 | €1,943,984 | +€1,168 | +0.1% |
| Contributions | 10/11 | €165,100 | €165,100 | = | 0.0% |
| Reserves | 13 | €16,510 | €16,510 | = | 0.0% |
| Distributable reserves | 133 | €16,510 | €16,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,761,206 | €1,762,374 | +€1,168 | +0.1% |
| Amounts payable | 17/49 | €133,950 | €133,417 | -€532 | -0.4% |
| Amounts payable within one year | 42/48 | €133,950 | €133,417 | -€532 | -0.4% |
| Trade debts | 44 | €7,463 | €3,556 | -€3,906 | -52.3% |
| Suppliers | 440/4 | €7,463 | €3,556 | -€3,906 | -52.3% |
| Taxes, remuneration and social security | 45 | €33,140 | €32,978 | -€162 | -0.5% |
| Taxes | 450/3 | €32,987 | €32,789 | -€198 | -0.6% |
| Remuneration and social security | 454/9 | €154 | €189 | +€36 | +23.3% |
| Other amounts payable | 47/48 | €93,347 | €96,882 | +€3,536 | +3.8% |
| Operating income | 70/76A | €209,727 | - | -€209,727 | |
| Turnover | 70 | €204,000 | - | -€204,000 | |
| Other operating income | 74 | €5,727 | - | -€5,727 | |
| Operating charges | 60/66A | €204,487 | - | -€204,487 | |
| Services and other goods | 61 | €200,242 | - | -€200,242 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,696 | €2,696 | = | 0.0% |
| Other operating charges | 640/8 | €1,549 | €1,527 | -€22 | -1.5% |
| Gross operating margin | 9900 | - | €15,461 | +€15,461 | |
| Operating profit (loss) | 9901 | €5,240 | €11,239 | +€5,998 | +114% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Financial charges | 65/66B | €7,993 | €6,846 | -€1,147 | -14.4% |
| Recurring financial charges | 65 | €7,993 | €6,846 | -€1,147 | -14.4% |
| Debt charges | 650 | €7,672 | - | -€7,672 | |
| Other financial charges | 652/9 | €321 | - | -€321 | |
| Profit (loss) for the period before taxes | 9903 | -€2,753 | €4,393 | +€7,146 | |
| Income taxes | 67/77 | €1,081 | €3,225 | +€2,145 | +198% |
| Taxes | 670/3 | €1,081 | - | -€1,081 | |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€3,833 | €1,168 | +€5,001 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,833 | €1,168 | +€5,001 |
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 19 October 2026 via checked.be.