Engelboom: 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.
Engelboom
Largest movements
- Formation expenses -€126,968
down €126,968 (-100%), from €126,968 to €0
- Tangible fixed assets +€57,517
up €57,517 (+5.9%), from €982,128 to €1.0m
of which Land and buildings: +€60,255
- Profit (loss) carried forward -€162,667
down €162,667 (-13.1%), from -€1.2m to -€1.4m
- Revaluation surpluses +€87,408
up €87,408 (+23.0%), from €380,110 to €467,518
- Debts after one year +€75,495
up €75,495 (+4.9%), from €1.5m to €1.6m
of which Other amounts payable: +€187,757
- Current portion of long-term debt -€32,451
down €32,451 (-23.2%), from €139,881 to €107,429
- Depreciation +€96,862
up €96,862 (+161%), from €59,997 to €156,859
- Gross operating margin +€16,402
up €16,402 (+72.5%), from €22,633 to €39,035
- Financial charges -€7,398
down €7,398 (-19.4%), from €38,116 to €30,718
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 | €2,312,458 | €2,252,382 | -€60,076 | -2.6% |
| Formation expenses | 20 | €126,968 | €0 | -€126,968 | -100% |
| Fixed assets | 21/28 | €2,133,338 | €2,199,345 | +€66,007 | +3.1% |
| Tangible fixed assets | 22/27 | €982,128 | €1,039,646 | +€57,517 | +5.9% |
| Land and buildings | 22 | €976,586 | €1,036,841 | +€60,255 | +6.2% |
| Furniture and vehicles | 24 | €5,542 | €2,805 | -€2,737 | -49.4% |
| Financial fixed assets | 28 | €1,151,209 | €1,159,699 | +€8,490 | +0.7% |
| Current assets | 29/58 | €52,152 | €53,037 | +€885 | +1.7% |
| Amounts receivable after more than one year | 29 | €50,613 | €50,613 | = | 0.0% |
| Trade receivables | 290 | €50,613 | €50,613 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,425 | €1,545 | +€120 | +8.4% |
| Trade receivables | 40 | €1,045 | €1,545 | +€500 | +47.8% |
| Other amounts receivable | 41 | €380 | €0 | -€380 | -100% |
| Cash at bank and in hand | 54/58 | €114 | €879 | +€765 | +674% |
| Total equity and liabilities | 10/49 | €2,312,458 | €2,252,382 | -€60,076 | -2.6% |
| Equity | 10/15 | €209,369 | €134,109 | -€75,259 | -35.9% |
| Contributions | 10/11 | €16,326 | €16,326 | = | 0.0% |
| Revaluation surpluses | 12 | €380,110 | €467,518 | +€87,408 | +23.0% |
| Reserves | 13 | €1,050,000 | €1,050,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,050,000 | €1,050,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,050,000 | €1,050,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,237,068 | -€1,399,735 | -€162,667 | -13.1% |
| Amounts payable | 17/49 | €2,103,089 | €2,118,273 | +€15,184 | +0.7% |
| Amounts payable after more than one year | 17 | €1,535,602 | €1,611,097 | +€75,495 | +4.9% |
| Financial debts | 170/4 | €716,710 | €604,449 | -€112,261 | -15.7% |
| Other amounts payable | 178/9 | €818,891 | €1,006,648 | +€187,757 | +22.9% |
| Amounts payable within one year | 42/48 | €567,487 | €507,176 | -€60,311 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €139,881 | €107,429 | -€32,451 | -23.2% |
| Trade debts | 44 | €9 | €224 | +€215 | +2,368% |
| Suppliers | 440/4 | €9 | €224 | +€215 | +2,368% |
| Taxes, remuneration and social security | 45 | €10,496 | €2,355 | -€8,142 | -77.6% |
| Taxes | 450/3 | €10,496 | €2,355 | -€8,142 | -77.6% |
| Other amounts payable | 47/48 | €417,101 | €397,167 | -€19,933 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,997 | €156,859 | +€96,862 | +161% |
| Other operating charges | 640/8 | €15,080 | €14,796 | -€284 | -1.9% |
| Non-recurring operating charges | 66A | €446 | €0 | -€446 | -100% |
| Gross operating margin | 9900 | €22,633 | €39,035 | +€16,402 | +72.5% |
| Operating profit (loss) | 9901 | -€52,889 | -€132,620 | -€79,730 | -151% |
| Financial income | 75/76B | €759 | €759 | +€0 | 0.0% |
| Recurring financial income | 75 | €759 | €759 | +€0 | 0.0% |
| Financial charges | 65/66B | €38,116 | €30,718 | -€7,398 | -19.4% |
| Recurring financial charges | 65 | €38,116 | €30,718 | -€7,398 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | -€90,246 | -€162,578 | -€72,333 | -80.2% |
| Income taxes | 67/77 | €229 | €89 | -€139 | -61.0% |
| Profit (loss) for the period | 9904 | -€90,474 | -€162,667 | -€72,193 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,474 | -€162,667 | -€72,193 | -79.8% |
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 18 October 2026 via checked.be.