ENGELS: 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.
What changed
ENGELS
NACE 46.130, Agents in the wholesale of timber and building materials
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€237,550
2024 · -€621,196+€383,646
Equity
€1.5m
2024 · €1.8m-€237,550
Cash
€189,096
2024 · €260,845-€71,749
Balance sheet total
€10.6m
2024 · €9.9m+€731,529
Largest movements
Assets
- Receivables within one year +€781,512
up €781,512 (+9.9%), from €7.9m to €8.6m
of which Trade receivables: +€515,704
Equity and liabilities
- Trade debts +€722,174
up €722,174 (+82.4%), from €876,017 to €1.6m
- Profit (loss) carried forward -€237,550
down €237,550 (-8.7%), from -€2.7m to -€3.0m
- Tax, wage and social debts +€221,462
up €221,462 (+82.0%), from €270,195 to €491,657
of which Remuneration and social security: +€241,580
Income statement
- Turnover +€620,595
up €620,595 (+9.0%), from €6.9m to €7.5m
- Goods and materials +€394,493
up €394,493 (+7.7%), from €5.1m to €5.5m
of which Purchases: +€383,908
- Other operating income +€205,790
up €205,790 (+72.2%), from €285,108 to €490,898
- Other operating charges +€186,995
up €186,995 (+198.4%), from €94,240 to €281,235
- Financial charges -€127,542
down €127,542 (-29.7%), from €429,506 to €301,964
of which Non-recurring financial charges: -€123,936
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.
Result 2024
-€621,196
Turnover
+€620,595
Other operating income
+€205,790
Goods and materials
-€394,493
Services and other goods
-€7,055
Staff costs
-€82,597
Depreciation
+€6,235
Write-downs
+€25,806
Other operating charges
-€186,995
Other operating items
+€75,533
Financial income
-€8,208
Financial charges
+€127,542
Taxes
+€1,493
Result 2025
-€237,550
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.
From operations
-€73,416
Investment
-€58,312
Financing
+€59,979
Cash 2024
€260,845
From operations (derived)
-€73,416
Net result for the year
-€237,550
Depreciation
+€5,774
Stocks and contracts
+€33,319
Receivables within one year
-€781,512
Deferred charges and accrued income
-€2,546
Trade debts
+€722,174
Tax, wage and social debts
+€221,462
Advances received
-€26,004
Other debts
-€42,324
Accrued charges and deferred income
+€33,794
Investment (derived)
-€58,312
Investment in fixed assets (net)
-€58,312
Financing
+€59,979
Debts after one year
-€92,799
Current portion of long-term debt
+€62,496
Short-term financial debts
+€90,282
Cash 2025
€189,096
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,873,669 | €10,605,198 | +€731,529 | +7.4% |
| Fixed assets | 21/28 | €9,884 | €62,422 | +€52,538 | +531.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,183 | €54,739 | +€52,555 | +2407.1% |
| Plant, machinery and equipment | 23 | €323 | €0 | -€323 | -100.0% |
| Furniture and vehicles | 24 | €497 | €4,864 | +€4,368 | +879.7% |
| Other tangible fixed assets | 26 | €1,364 | €49,874 | +€48,510 | +3556.3% |
| Financial fixed assets | 28 | €7,701 | €7,684 | -€17 | -0.2% |
| Other financial fixed assets | 284/8 | €7,701 | €7,684 | -€17 | -0.2% |
| Amounts receivable and cash guarantees | 285/8 | €7,701 | €7,684 | -€17 | -0.2% |
| Current assets | 29/58 | €9,863,785 | €10,542,776 | +€678,991 | +6.9% |
| Amounts receivable after more than one year | 29 | €1,587,201 | €1,587,201 | = | 0.0% |
| Other amounts receivable | 291 | €1,587,201 | €1,587,201 | = | 0.0% |
| Stocks and contracts in progress | 3 | €81,081 | €47,763 | -€33,319 | -41.1% |
| Stocks | 30/36 | €15,067 | €12,712 | -€2,355 | -15.6% |
| Raw materials and consumables | 30/31 | €15,067 | €12,712 | -€2,355 | -15.6% |
| Contracts in progress | 37 | €66,014 | €35,051 | -€30,963 | -46.9% |
| Amounts receivable within one year | 40/41 | €7,867,249 | €8,648,761 | +€781,512 | +9.9% |
| Trade receivables | 40 | €1,160,670 | €1,676,374 | +€515,704 | +44.4% |
| Other amounts receivable | 41 | €6,706,579 | €6,972,387 | +€265,808 | +4.0% |
| Cash at bank and in hand | 54/58 | €260,845 | €189,096 | -€71,749 | -27.5% |
| Deferred charges and accrued income | 490/1 | €67,409 | €69,955 | +€2,546 | +3.8% |
| Total equity and liabilities | 10/49 | €9,873,669 | €10,605,198 | +€731,529 | +7.4% |
| Equity | 10/15 | €1,783,855 | €1,546,305 | -€237,550 | -13.3% |
| Contributions | 10/11 | €4,509,502 | €4,509,502 | = | 0.0% |
| Capital | 10 | €4,509,502 | €4,509,502 | = | 0.0% |
| Issued capital | 100 | €4,509,502 | €4,509,502 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,725,647 | -€2,963,197 | -€237,550 | -8.7% |
| Amounts payable | 17/49 | €8,089,814 | €9,058,894 | +€969,079 | +12.0% |
| Amounts payable after more than one year | 17 | €443,036 | €350,237 | -€92,799 | -20.9% |
| Financial debts | 170/4 | €443,036 | €350,237 | -€92,799 | -20.9% |
| Other loans | 174 | €443,036 | €350,237 | -€92,799 | -20.9% |
| Amounts payable within one year | 42/48 | €7,645,575 | €8,673,660 | +€1.0m | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €121,964 | €184,460 | +€62,496 | +51.2% |
| Financial debts | 43 | €2,948,527 | €3,038,809 | +€90,282 | +3.1% |
| Credit institutions | 430/8 | €2,948,527 | €3,038,809 | +€90,282 | +3.1% |
| Trade debts | 44 | €876,017 | €1,598,191 | +€722,174 | +82.4% |
| Suppliers | 440/4 | €876,017 | €1,598,191 | +€722,174 | +82.4% |
| Advances received on contracts in progress | 46 | €1,114,496 | €1,088,492 | -€26,004 | -2.3% |
| Taxes, remuneration and social security | 45 | €270,195 | €491,657 | +€221,462 | +82.0% |
| Taxes | 450/3 | €135,506 | €115,388 | -€20,118 | -14.8% |
| Remuneration and social security | 454/9 | €134,689 | €376,269 | +€241,580 | +179.4% |
| Other amounts payable | 47/48 | €2,314,376 | €2,272,052 | -€42,324 | -1.8% |
| Accrued charges and deferred income | 492/3 | €1,203 | €34,996 | +€33,794 | +2810.0% |
| Operating income | 70/76A | €7,264,860 | €8,180,526 | +€915,666 | +12.6% |
| Turnover | 70 | €6,926,221 | €7,546,817 | +€620,595 | +9.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €53,530 | €136,811 | +€83,281 | +155.6% |
| Other operating income | 74 | €285,108 | €490,898 | +€205,790 | +72.2% |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Operating charges | 60/66A | €7,463,550 | €8,116,397 | +€652,847 | +8.7% |
| Goods for resale, raw materials and consumables | 60 | €5,141,849 | €5,536,343 | +€394,493 | +7.7% |
| Purchases | 600/8 | €5,150,079 | €5,533,987 | +€383,908 | +7.5% |
| Change in stocks: decrease (increase) | 609 | -€8,230 | €2,355 | +€10,585 | |
| Services and other goods | 61 | €974,693 | €981,747 | +€7,055 | +0.7% |
| Remuneration, social security and pensions | 62 | €1,186,128 | €1,268,725 | +€82,597 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,009 | €5,774 | -€6,235 | -51.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,806 | €0 | -€25,806 | -100.0% |
| Other operating charges | 640/8 | €94,240 | €281,235 | +€186,995 | +198.4% |
| Non-recurring operating charges | 66A | €28,825 | €42,572 | +€13,748 | +47.7% |
| Operating profit (loss) | 9901 | -€198,690 | €64,130 | +€262,820 | |
| Financial income | 75/76B | €9,925 | €1,716 | -€8,208 | -82.7% |
| Recurring financial income | 75 | €9,925 | €1,716 | -€8,208 | -82.7% |
| Income from financial fixed assets | 750 | - | €69 | +€69 | |
| Other financial income | 752/9 | €9,925 | €1,647 | -€8,278 | -83.4% |
| Financial charges | 65/66B | €429,506 | €301,964 | -€127,542 | -29.7% |
| Recurring financial charges | 65 | €305,570 | €301,964 | -€3,606 | -1.2% |
| Debt charges | 650 | €237,639 | €241,581 | +€3,942 | +1.7% |
| Other financial charges | 652/9 | €67,931 | €60,383 | -€7,548 | -11.1% |
| Non-recurring financial charges | 66B | €123,936 | €0 | -€123,936 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€618,271 | -€236,118 | +€382,153 | +61.8% |
| Income taxes | 67/77 | €2,925 | €1,432 | -€1,493 | -51.0% |
| Taxes | 670/3 | €2,925 | €1,432 | -€1,493 | -51.0% |
| Profit (loss) for the period | 9904 | -€621,196 | -€237,550 | +€383,646 | +61.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€621,196 | -€237,550 | +€383,646 | +61.8% |
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 4 October 2026 via checked.be.