ENGELEN TOM: 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 TOM
Largest movements
- Cash -€104,023
down €104,023 (-78.2%), from €132,947 to €28,924
mainly Receivables within one year (-€77,089) and Current investments (-€70,298)
- Receivables within one year +€77,089
up €77,089 (+140%), from €55,126 to €132,214
of which Other amounts receivable: +€86,518
- Current investments +€70,298
new in 2025: €70,298
- Tangible fixed assets -€3,040
down €3,040 (-44.0%), from €6,911 to €3,872
- Profit (loss) carried forward +€63,517
up €63,517 (+47.3%), from €134,326 to €197,843
- Tax, wage and social debts -€18,793
down €18,793 (-46.7%), from €40,256 to €21,463
- Debts after one year -€3,067
down €3,067 (-59.5%), from €5,154 to €2,087
- Gross operating margin -€9,236
down €9,236 (-10.5%), from €87,564 to €78,328
- Financial income +€1,469
up €1,469 (+44.7%), from €3,289 to €4,758
- Taxes -€1,292
down €1,292 (-7.4%), from €17,374 to €16,082
- Write-downs -€967
down €967 (-100%), from €967 to €0
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 | €196,134 | €236,581 | +€40,448 | +20.6% |
| Fixed assets | 21/28 | €6,911 | €3,872 | -€3,040 | -44.0% |
| Tangible fixed assets | 22/27 | €6,911 | €3,872 | -€3,040 | -44.0% |
| Furniture and vehicles | 24 | €6,911 | €3,872 | -€3,040 | -44.0% |
| Current assets | 29/58 | €189,222 | €232,710 | +€43,487 | +23.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €55,126 | €132,214 | +€77,089 | +140% |
| Trade receivables | 40 | €18,480 | €9,052 | -€9,429 | -51.0% |
| Other amounts receivable | 41 | €36,645 | €123,163 | +€86,518 | +236% |
| Current investments | 50/53 | - | €70,298 | +€70,298 | |
| Cash at bank and in hand | 54/58 | €132,947 | €28,924 | -€104,023 | -78.2% |
| Deferred charges and accrued income | 490/1 | €1,149 | €1,273 | +€124 | +10.8% |
| Total equity and liabilities | 10/49 | €196,134 | €236,581 | +€40,448 | +20.6% |
| Equity | 10/15 | €139,326 | €202,843 | +€63,517 | +45.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,326 | €197,843 | +€63,517 | +47.3% |
| Amounts payable | 17/49 | €56,807 | €33,738 | -€23,069 | -40.6% |
| Amounts payable after more than one year | 17 | €5,154 | €2,087 | -€3,067 | -59.5% |
| Financial debts | 170/4 | €5,154 | €2,087 | -€3,067 | -59.5% |
| Amounts payable within one year | 42/48 | €51,653 | €31,651 | -€20,002 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €2,993 | €3,067 | +€75 | +2.5% |
| Trade debts | 44 | €8,404 | €7,121 | -€1,284 | -15.3% |
| Suppliers | 440/4 | €8,404 | €7,121 | -€1,284 | -15.3% |
| Taxes, remuneration and social security | 45 | €40,256 | €21,463 | -€18,793 | -46.7% |
| Taxes | 450/3 | €40,256 | €21,463 | -€18,793 | -46.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,200 | €3,040 | -€160 | -5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €967 | €0 | -€967 | -100% |
| Other operating charges | 640/8 | €188 | €62 | -€126 | -67.1% |
| Gross operating margin | 9900 | €87,564 | €78,328 | -€9,236 | -10.5% |
| Operating profit (loss) | 9901 | €83,209 | €75,227 | -€7,982 | -9.6% |
| Financial income | 75/76B | €3,289 | €4,758 | +€1,469 | +44.7% |
| Recurring financial income | 75 | €3,289 | €4,758 | +€1,469 | +44.7% |
| Financial charges | 65/66B | €315 | €386 | +€72 | +22.7% |
| Recurring financial charges | 65 | €315 | €386 | +€72 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €86,183 | €79,598 | -€6,584 | -7.6% |
| Income taxes | 67/77 | €17,374 | €16,082 | -€1,292 | -7.4% |
| Profit (loss) for the period | 9904 | €68,809 | €63,517 | -€5,292 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,809 | €63,517 | -€5,292 | -7.7% |
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 24 October 2026 via checked.be.