ENGEAL: 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.
ENGEAL
Largest movements
- Cash +€90,314
up €90,314 (+1345.4%), from €6,713 to €97,027
mainly Investment in fixed assets (net) (+€45,388) and Net result for the year (+€24,678)
- Tangible fixed assets -€52,194
down €52,194 (-81.3%), from €64,233 to €12,039
of which Furniture and vehicles: -€48,816
- Current investments -€7,000
no longer reported in 2025 (was €7,000)
- Receivables within one year -€5,553
down €5,553 (-22.2%), from €25,022 to €19,469
of which Trade receivables: -€6,481
- Reserves +€82,335
up €82,335 (+436.6%), from €18,860 to €101,195
of which Distributable reserves: +€99,335
- Profit (loss) carried forward -€57,657
no longer reported in 2025 (was €57,657)
- Tax, wage and social debts +€4,398
up €4,398 (+90.4%), from €4,866 to €9,264
of which Taxes: +€7,024
- Trade debts -€4,169
down €4,169 (-63.7%), from €6,544 to €2,376
- Gross operating margin -€14,123
down €14,123 (-21.1%), from €66,966 to €52,844
- Taxes +€6,580
up €6,580 (+55.8%), from €11,790 to €18,370
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 | €106,528 | €131,434 | +€24,907 | +23.4% |
| Fixed assets | 21/28 | €64,233 | €12,039 | -€52,194 | -81.3% |
| Tangible fixed assets | 22/27 | €64,233 | €12,039 | -€52,194 | -81.3% |
| Furniture and vehicles | 24 | €49,840 | €1,025 | -€48,816 | -97.9% |
| Other tangible fixed assets | 26 | €14,393 | €11,015 | -€3,378 | -23.5% |
| Current assets | 29/58 | €42,295 | €119,395 | +€77,100 | +182.3% |
| Amounts receivable within one year | 40/41 | €25,022 | €19,469 | -€5,553 | -22.2% |
| Trade receivables | 40 | €23,414 | €16,933 | -€6,481 | -27.7% |
| Other amounts receivable | 41 | €1,608 | €2,536 | +€928 | +57.7% |
| Current investments | 50/53 | €7,000 | - | -€7,000 | |
| Cash at bank and in hand | 54/58 | €6,713 | €97,027 | +€90,314 | +1345.4% |
| Deferred charges and accrued income | 490/1 | €3,560 | €2,899 | -€661 | -18.6% |
| Total equity and liabilities | 10/49 | €106,528 | €131,434 | +€24,907 | +23.4% |
| Equity | 10/15 | €95,117 | €119,795 | +€24,678 | +25.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,860 | €101,195 | +€82,335 | +436.6% |
| Non-distributable reserves | 130/1 | €18,860 | €1,860 | -€17,000 | -90.1% |
| Reserves not available under the articles | 1311 | €18,860 | €1,860 | -€17,000 | -90.1% |
| Distributable reserves | 133 | - | €99,335 | +€99,335 | |
| Profit (loss) carried forward | 14 | €57,657 | - | -€57,657 | |
| Amounts payable | 17/49 | €11,410 | €11,639 | +€229 | +2.0% |
| Amounts payable within one year | 42/48 | €11,410 | €11,639 | +€229 | +2.0% |
| Trade debts | 44 | €6,544 | €2,376 | -€4,169 | -63.7% |
| Suppliers | 440/4 | €6,544 | €2,376 | -€4,169 | -63.7% |
| Taxes, remuneration and social security | 45 | €4,866 | €9,264 | +€4,398 | +90.4% |
| Taxes | 450/3 | €2,240 | €9,264 | +€7,024 | +313.5% |
| Remuneration and social security | 454/9 | €2,626 | - | -€2,626 | |
| Non-recurring operating income | 76A | - | €4,640 | +€4,640 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,149 | €6,805 | +€657 | +10.7% |
| Other operating charges | 640/8 | €719 | €750 | +€31 | +4.4% |
| Gross operating margin | 9900 | €66,966 | €52,844 | -€14,123 | -21.1% |
| Operating profit (loss) | 9901 | €60,098 | €45,288 | -€14,810 | -24.6% |
| Financial charges | 65/66B | €2,321 | €2,240 | -€81 | -3.5% |
| Recurring financial charges | 65 | €2,321 | €2,240 | -€81 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €57,777 | €43,047 | -€14,729 | -25.5% |
| Income taxes | 67/77 | €11,790 | €18,370 | +€6,580 | +55.8% |
| Profit (loss) for the period | 9904 | €45,987 | €24,678 | -€21,310 | -46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,987 | €24,678 | -€21,310 | -46.3% |
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 2 October 2026 via checked.be.