ENGELEN ERWIN: 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.
ENGELEN ERWIN
Largest movements
- Cash -€34,211
down €34,211 (-33.6%), from €101,806 to €67,595
mainly Net result for the year (-€28,920) and Trade debts (-€8,382)
- Reserves -€28,920
down €28,920 (-14.5%), from €199,167 to €170,247
of which Distributable reserves: -€27,060
- Trade debts -€8,382
down €8,382 (-85.5%), from €9,809 to €1,427
- Other debts +€5,153
up €5,153 (+27.5%), from €18,749 to €23,902
- Tax, wage and social debts -€4,380
down €4,380 (-31.8%), from €13,789 to €9,409
of which Remuneration and social security: -€2,500
- Gross operating margin -€117,484
down €117,484, from €91,211 to -€26,273
- Taxes -€9,797
down €9,797 (-97.9%), from €10,010 to €213
- Depreciation -€4,435
down €4,435 (-65.0%), from €6,824 to €2,389
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 | €247,714 | €211,185 | -€36,529 | -14.7% |
| Fixed assets | 21/28 | €5,610 | €3,220 | -€2,390 | -42.6% |
| Tangible fixed assets | 22/27 | €5,610 | €3,220 | -€2,390 | -42.6% |
| Plant, machinery and equipment | 23 | €204 | - | -€204 | |
| Furniture and vehicles | 24 | €5,406 | €3,220 | -€2,186 | -40.4% |
| Current assets | 29/58 | €242,104 | €207,965 | -€34,139 | -14.1% |
| Amounts receivable within one year | 40/41 | €139,193 | €138,031 | -€1,162 | -0.8% |
| Trade receivables | 40 | €138,885 | €134,393 | -€4,492 | -3.2% |
| Other amounts receivable | 41 | €308 | €3,638 | +€3,330 | +1081.2% |
| Cash at bank and in hand | 54/58 | €101,806 | €67,595 | -€34,211 | -33.6% |
| Deferred charges and accrued income | 490/1 | €1,105 | €2,339 | +€1,234 | +111.7% |
| Total equity and liabilities | 10/49 | €247,714 | €211,185 | -€36,529 | -14.7% |
| Equity | 10/15 | €205,367 | €176,447 | -€28,920 | -14.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €199,167 | €170,247 | -€28,920 | -14.5% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €197,307 | €170,247 | -€27,060 | -13.7% |
| Amounts payable | 17/49 | €42,347 | €34,738 | -€7,609 | -18.0% |
| Amounts payable within one year | 42/48 | €42,347 | €34,738 | -€7,609 | -18.0% |
| Trade debts | 44 | €9,809 | €1,427 | -€8,382 | -85.5% |
| Suppliers | 440/4 | €9,809 | €1,427 | -€8,382 | -85.5% |
| Taxes, remuneration and social security | 45 | €13,789 | €9,409 | -€4,380 | -31.8% |
| Taxes | 450/3 | €11,289 | €9,409 | -€1,880 | -16.7% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €18,749 | €23,902 | +€5,153 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,824 | €2,389 | -€4,435 | -65.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €91,211 | -€26,273 | -€117,484 | |
| Operating profit (loss) | 9901 | €84,000 | -€28,662 | -€112,662 | |
| Financial income | 75/76B | €63 | €33 | -€30 | -47.6% |
| Recurring financial income | 75 | €63 | €33 | -€30 | -47.6% |
| Financial charges | 65/66B | - | €78 | +€78 | |
| Recurring financial charges | 65 | - | €78 | +€78 | |
| Profit (loss) for the period before taxes | 9903 | €84,063 | -€28,707 | -€112,770 | |
| Income taxes | 67/77 | €10,010 | €213 | -€9,797 | -97.9% |
| Profit (loss) for the period | 9904 | €74,053 | -€28,920 | -€102,973 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,053 | -€28,920 | -€102,973 |
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 28 September 2026 via checked.be.