ENGELS CONSTRUCT: 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.
ENGELS CONSTRUCT
Largest movements
- Tangible fixed assets +€13,231
up €13,231 (+7.5%), from €175,957 to €189,188
of which Furniture and vehicles: +€25,315
- Receivables within one year +€12,201
up €12,201 (+62.3%), from €19,590 to €31,791
of which Trade receivables: +€13,573
- Cash +€7,241
up €7,241 (+7.6%), from €95,884 to €103,125
mainly Depreciation (+€34,117) and Net result for the year (+€16,384)
- Current portion of long-term debt +€13,378
up €13,378 (+100.3%), from €13,334 to €26,712
- Other debts +€10,179
new in 2025: €10,179
- Reserves +€9,111
up €9,111 (+6.3%), from €144,629 to €153,740
- Debts after one year +€7,947
up €7,947 (+7.1%), from €111,390 to €119,337
- Trade debts -€6,014
down €6,014 (-79.1%), from €7,607 to €1,593
- Gross operating margin +€10,765
up €10,765 (+21.3%), from €50,548 to €61,313
- Taxes +€4,845
up €4,845 (+179.6%), from €2,698 to €7,543
- Depreciation -€4,221
down €4,221 (-11.0%), from €38,339 to €34,117
- Staff costs -€1,225
down €1,225 (-79.3%), from €1,546 to €321
- Financial income +€814
up €814 (+63.6%), from €1,281 to €2,096
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 | €293,826 | €327,053 | +€33,227 | +11.3% |
| Fixed assets | 21/28 | €175,957 | €189,188 | +€13,231 | +7.5% |
| Tangible fixed assets | 22/27 | €175,957 | €189,188 | +€13,231 | +7.5% |
| Land and buildings | 22 | €146,962 | €136,574 | -€10,388 | -7.1% |
| Plant, machinery and equipment | 23 | €11,067 | €9,371 | -€1,696 | -15.3% |
| Furniture and vehicles | 24 | €17,928 | €43,243 | +€25,315 | +141.2% |
| Current assets | 29/58 | €117,869 | €137,865 | +€19,996 | +17.0% |
| Amounts receivable within one year | 40/41 | €19,590 | €31,791 | +€12,201 | +62.3% |
| Trade receivables | 40 | €0 | €13,573 | +€13,573 | |
| Other amounts receivable | 41 | €19,590 | €18,219 | -€1,371 | -7.0% |
| Cash at bank and in hand | 54/58 | €95,884 | €103,125 | +€7,241 | +7.6% |
| Deferred charges and accrued income | 490/1 | €2,395 | €2,949 | +€554 | +23.1% |
| Total equity and liabilities | 10/49 | €293,826 | €327,053 | +€33,227 | +11.3% |
| Equity | 10/15 | €157,029 | €166,140 | +€9,111 | +5.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €144,629 | €153,740 | +€9,111 | +6.3% |
| Distributable reserves | 133 | €144,629 | €153,740 | +€9,111 | +6.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €136,798 | €160,913 | +€24,116 | +17.6% |
| Amounts payable after more than one year | 17 | €111,390 | €119,337 | +€7,947 | +7.1% |
| Financial debts | 170/4 | €111,390 | €119,337 | +€7,947 | +7.1% |
| Amounts payable within one year | 42/48 | €24,258 | €41,576 | +€17,318 | +71.4% |
| Current portion of amounts payable after more than one year | 42 | €13,334 | €26,712 | +€13,378 | +100.3% |
| Financial debts | 43 | €11 | €29 | +€18 | +163.7% |
| Credit institutions | 430/8 | €11 | €29 | +€18 | +163.7% |
| Trade debts | 44 | €7,607 | €1,593 | -€6,014 | -79.1% |
| Suppliers | 440/4 | €7,607 | €1,593 | -€6,014 | -79.1% |
| Taxes, remuneration and social security | 45 | €3,307 | €3,064 | -€243 | -7.3% |
| Taxes | 450/3 | €3,307 | €3,064 | -€243 | -7.3% |
| Other amounts payable | 47/48 | - | €10,179 | +€10,179 | |
| Accrued charges and deferred income | 492/3 | €1,149 | €0 | -€1,149 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,546 | €321 | -€1,225 | -79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,339 | €34,117 | -€4,221 | -11.0% |
| Other operating charges | 640/8 | €1,013 | €1,435 | +€422 | +41.7% |
| Gross operating margin | 9900 | €50,548 | €61,313 | +€10,765 | +21.3% |
| Operating profit (loss) | 9901 | €9,651 | €25,441 | +€15,790 | +163.6% |
| Financial income | 75/76B | €1,281 | €2,096 | +€814 | +63.6% |
| Recurring financial income | 75 | €1,281 | €2,096 | +€814 | +63.6% |
| Financial charges | 65/66B | €3,319 | €3,610 | +€290 | +8.7% |
| Recurring financial charges | 65 | €3,319 | €3,610 | +€290 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €7,613 | €23,927 | +€16,314 | +214.3% |
| Income taxes | 67/77 | €2,698 | €7,543 | +€4,845 | +179.6% |
| Profit (loss) for the period | 9904 | €4,915 | €16,384 | +€11,468 | +233.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,915 | €16,384 | +€11,468 | +233.3% |
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 7 October 2026 via checked.be.