ENGELS C.: what changed
What changed
ENGELS C.
NACE 46.341, Wholesale of wines and spirits
filed annual accounts (NBB)
Net result for the year
€24,487
2024 · €23,505+€981
Equity
€480,322
2024 · €455,835+€24,487
Cash
€43,475
2024 · €25,874+€17,602
Balance sheet total
€865,734
2024 · €794,286+€71,448
Largest movements
Assets
- Receivables within one year +€25,736
up €25,736 (+3.9%), from €654,437 to €680,173
of which Trade receivables: +€25,315
- Cash +€17,602
up €17,602 (+68.0%), from €25,874 to €43,475
mainly Net result for the year (+€24,487) and Trade debts (+€21,530)
- Stocks and contracts +€17,447
up €17,447 (+20.7%), from €84,364 to €101,812
Equity and liabilities
- Reserves +€24,487
up €24,487 (+5.6%), from €437,235 to €461,722
of which Distributable reserves: +€24,487
- Trade debts +€21,530
up €21,530 (+16.5%), from €130,221 to €151,750
- Debts after one year +€20,969
up €20,969 (+28.1%), from €74,531 to €95,500
Income statement
- Gross operating margin -€16,825
down €16,825 (-16.8%), from €99,872 to €83,047
- Staff costs -€14,277
down €14,277 (-52.7%), from €27,086 to €12,809
- Depreciation +€2,122
up €2,122 (+28.8%), from €7,370 to €9,492
- Taxes +€1,457
up €1,457 (+16.1%), from €9,053 to €10,511
- Write-downs +€1,171
up €1,171, from -€1,171 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€23,505
Gross operating margin
-€16,825
Staff costs
+€14,277
Depreciation
-€2,122
Write-downs
-€1,171
Other operating charges
+€429
Other operating items
+€8,898
Financial income
+€7
Financial charges
-€1,054
Taxes
-€1,457
Result 2025
€24,487
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€14,876
Investment
-€18,081
Financing
+€20,806
Cash 2024
€25,874
From operations (derived)
+€14,876
Net result for the year
+€24,487
Depreciation
+€9,492
Stocks and contracts
-€17,447
Receivables within one year
-€25,736
Deferred charges and accrued income
-€2,074
Trade debts
+€21,530
Tax, wage and social debts
+€6,454
Other debts
+€171
Accrued charges and deferred income
-€2,000
Investment (derived)
-€18,081
Investment in fixed assets (net)
-€18,081
Financing
+€20,806
Debts after one year
+€20,969
Current portion of long-term debt
-€162
Cash 2025
€43,475
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €794,286 | €865,734 | +€71,448 | +9.0% |
| Fixed assets | 21/28 | €26,483 | €35,071 | +€8,589 | +32.4% |
| Tangible fixed assets | 22/27 | €26,248 | €34,836 | +€8,589 | +32.7% |
| Plant, machinery and equipment | 23 | €10,362 | €8,058 | -€2,304 | -22.2% |
| Furniture and vehicles | 24 | €15,886 | €26,778 | +€10,892 | +68.6% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €767,803 | €830,662 | +€62,859 | +8.2% |
| Stocks and contracts in progress | 3 | €84,364 | €101,812 | +€17,447 | +20.7% |
| Stocks | 30/36 | €84,364 | €101,812 | +€17,447 | +20.7% |
| Amounts receivable within one year | 40/41 | €654,437 | €680,173 | +€25,736 | +3.9% |
| Trade receivables | 40 | €654,437 | €679,752 | +€25,315 | +3.9% |
| Other amounts receivable | 41 | €0 | €421 | +€421 | |
| Cash at bank and in hand | 54/58 | €25,874 | €43,475 | +€17,602 | +68.0% |
| Deferred charges and accrued income | 490/1 | €3,129 | €5,203 | +€2,074 | +66.3% |
| Total equity and liabilities | 10/49 | €794,286 | €865,734 | +€71,448 | +9.0% |
| Equity | 10/15 | €455,835 | €480,322 | +€24,487 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €437,235 | €461,722 | +€24,487 | +5.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €437,235 | €461,722 | +€24,487 | +5.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €338,451 | €385,412 | +€46,961 | +13.9% |
| Amounts payable after more than one year | 17 | €74,531 | €95,500 | +€20,969 | +28.1% |
| Financial debts | 170/4 | €74,531 | €95,500 | +€20,969 | +28.1% |
| Amounts payable within one year | 42/48 | €246,920 | €274,912 | +€27,992 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €6,694 | €6,531 | -€162 | -2.4% |
| Trade debts | 44 | €130,221 | €151,750 | +€21,530 | +16.5% |
| Suppliers | 440/4 | €130,221 | €151,750 | +€21,530 | +16.5% |
| Taxes, remuneration and social security | 45 | €18,012 | €24,466 | +€6,454 | +35.8% |
| Taxes | 450/3 | €10,959 | €17,994 | +€7,035 | +64.2% |
| Remuneration and social security | 454/9 | €7,053 | €6,472 | -€581 | -8.2% |
| Other amounts payable | 47/48 | €91,994 | €92,165 | +€171 | +0.2% |
| Accrued charges and deferred income | 492/3 | €17,000 | €15,000 | -€2,000 | -11.8% |
| Non-recurring operating income | 76A | €0 | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €27,086 | €12,809 | -€14,277 | -52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,370 | €9,492 | +€2,122 | +28.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,171 | €0 | +€1,171 | |
| Other operating charges | 640/8 | €3,392 | €2,963 | -€429 | -12.6% |
| Non-recurring operating charges | 66A | €20,510 | €11,613 | -€8,898 | -43.4% |
| Gross operating margin | 9900 | €99,872 | €83,047 | -€16,825 | -16.8% |
| Operating profit (loss) | 9901 | €42,685 | €46,170 | +€3,485 | +8.2% |
| Financial income | 75/76B | €5 | €12 | +€7 | +156% |
| Recurring financial income | 75 | €5 | €12 | +€7 | +156% |
| Financial charges | 65/66B | €10,131 | €11,185 | +€1,054 | +10.4% |
| Recurring financial charges | 65 | €10,131 | €11,185 | +€1,054 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €32,559 | €34,997 | +€2,439 | +7.5% |
| Income taxes | 67/77 | €9,053 | €10,511 | +€1,457 | +16.1% |
| Profit (loss) for the period | 9904 | €23,505 | €24,487 | +€981 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,505 | €24,487 | +€981 | +4.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.