ENGELEN GUIDO: 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.
ENGELEN GUIDO
Largest movements
- Cash +€91,074
up €91,074 (+345%), from €26,426 to €117,500
mainly Net result for the year (+€216,737) and Depreciation (+€158,037)
- Receivables within one year +€41,964
up €41,964 (+20.0%), from €209,567 to €251,531
of which Trade receivables: +€21,939
- Stocks and contracts +€27,884
up €27,884 (+84.8%), from €32,894 to €60,779
- Reserves +€215,071
up €215,071 (+24.2%), from €887,048 to €1.1m
- Debts after one year -€84,766
down €84,766 (-12.8%), from €660,808 to €576,042
of which Financial debts: -€67,886
- Trade debts +€46,228
up €46,228 (+72.9%), from €63,430 to €109,658
- Gross operating margin +€50,993
up €50,993 (+7.3%), from €694,208 to €745,202
- Depreciation -€38,889
down €38,889 (-19.7%), from €196,927 to €158,037
- Write-downs +€21,157
new in 2025: €21,157
- Taxes +€21,136
up €21,136 (+28.7%), from €73,630 to €94,765
- Financial charges +€16,014
up €16,014 (+138%), from €11,614 to €27,628
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 | €1,796,406 | €1,954,828 | +€158,422 | +8.8% |
| Fixed assets | 21/28 | €1,527,215 | €1,518,034 | -€9,181 | -0.6% |
| Tangible fixed assets | 22/27 | €1,527,215 | €1,518,034 | -€9,181 | -0.6% |
| Land and buildings | 22 | €1,213,620 | €1,222,635 | +€9,014 | +0.7% |
| Plant, machinery and equipment | 23 | €54,203 | €32,455 | -€21,748 | -40.1% |
| Furniture and vehicles | 24 | €259,392 | €262,944 | +€3,552 | +1.4% |
| Current assets | 29/58 | €269,191 | €436,794 | +€167,603 | +62.3% |
| Stocks and contracts in progress | 3 | €32,894 | €60,779 | +€27,884 | +84.8% |
| Stocks | 30/36 | €32,894 | €60,779 | +€27,884 | +84.8% |
| Amounts receivable within one year | 40/41 | €209,567 | €251,531 | +€41,964 | +20.0% |
| Trade receivables | 40 | €199,567 | €221,506 | +€21,939 | +11.0% |
| Other amounts receivable | 41 | €10,000 | €30,025 | +€20,025 | +200% |
| Cash at bank and in hand | 54/58 | €26,426 | €117,500 | +€91,074 | +345% |
| Deferred charges and accrued income | 490/1 | €303 | €6,984 | +€6,680 | +2,202% |
| Total equity and liabilities | 10/49 | €1,796,406 | €1,954,828 | +€158,422 | +8.8% |
| Equity | 10/15 | €907,048 | €1,122,119 | +€215,071 | +23.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €887,048 | €1,102,119 | +€215,071 | +24.2% |
| Distributable reserves | 133 | €887,048 | €1,102,119 | +€215,071 | +24.2% |
| Amounts payable | 17/49 | €889,357 | €832,708 | -€56,649 | -6.4% |
| Amounts payable after more than one year | 17 | €660,808 | €576,042 | -€84,766 | -12.8% |
| Financial debts | 170/4 | €625,922 | €558,036 | -€67,886 | -10.8% |
| Other amounts payable | 178/9 | €34,886 | €18,006 | -€16,880 | -48.4% |
| Amounts payable within one year | 42/48 | €228,450 | €255,081 | +€26,632 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €65,039 | €67,886 | +€2,846 | +4.4% |
| Trade debts | 44 | €63,430 | €109,658 | +€46,228 | +72.9% |
| Suppliers | 440/4 | €63,430 | €109,658 | +€46,228 | +72.9% |
| Taxes, remuneration and social security | 45 | €93,381 | €75,872 | -€17,509 | -18.8% |
| Taxes | 450/3 | €70,764 | €50,693 | -€20,070 | -28.4% |
| Remuneration and social security | 454/9 | €22,617 | €25,178 | +€2,562 | +11.3% |
| Other amounts payable | 47/48 | €6,600 | €1,666 | -€4,934 | -74.8% |
| Accrued charges and deferred income | 492/3 | €100 | €1,585 | +€1,485 | +1,485% |
| Non-recurring operating income | 76A | €17,500 | €25,000 | +€7,500 | +42.9% |
| Remuneration, social security and pensions | 62 | €228,599 | €214,542 | -€14,057 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,927 | €158,037 | -€38,889 | -19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €21,157 | +€21,157 | |
| Other operating charges | 640/8 | €8,383 | €13,167 | +€4,784 | +57.1% |
| Gross operating margin | 9900 | €694,208 | €745,202 | +€50,993 | +7.3% |
| Operating profit (loss) | 9901 | €260,300 | €338,299 | +€77,999 | +30.0% |
| Financial income | 75/76B | €116 | €832 | +€716 | +619% |
| Recurring financial income | 75 | €116 | €832 | +€716 | +619% |
| Financial charges | 65/66B | €11,614 | €27,628 | +€16,014 | +138% |
| Recurring financial charges | 65 | €11,614 | €27,628 | +€16,014 | +138% |
| Profit (loss) for the period before taxes | 9903 | €248,801 | €311,502 | +€62,701 | +25.2% |
| Income taxes | 67/77 | €73,630 | €94,765 | +€21,136 | +28.7% |
| Profit (loss) for the period | 9904 | €175,172 | €216,737 | +€41,565 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €175,172 | €216,737 | +€41,565 | +23.7% |
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 30 October 2026 via checked.be.