ENGELS LOGISTICS: 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.
What changed
ENGELS LOGISTICS
NACE 46.649, Wholesale of other machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€9,415
2024 · €189,772-€199,188
Equity
€4.7m
2024 · €4.7m-€9,415
Cash
€216,097
2024 · €672,419-€456,322
Balance sheet total
€6.8m
2024 · €7.0m-€172,382
Largest movements
Assets
- Receivables within one year +€464,332
up €464,332 (+18.9%), from €2.5m to €2.9m
of which Trade receivables: +€355,112
- Cash -€456,322
down €456,322 (-67.9%), from €672,419 to €216,097
mainly Receivables within one year (-€464,332) and Accrued charges and deferred income (-€198,424)
- Tangible fixed assets -€147,180
down €147,180 (-12.4%), from €1.2m to €1.0m
of which Leasing and similar rights: -€107,444
Equity and liabilities
- Accrued charges and deferred income -€198,424
down €198,424 (-100%), from €198,424 to €0
- Debts after one year -€189,217
down €189,217 (-61.1%), from €309,707 to €120,489
- Trade debts +€141,972
up €141,972 (+10.7%), from €1.3m to €1.5m
- Tax, wage and social debts +€78,834
up €78,834 (+30.6%), from €257,265 to €336,099
of which Taxes: +€61,380
Income statement
- Turnover -€1.0m
down €1.0m (-6.6%), from €15.8m to €14.8m
- Goods and materials -€702,616
down €702,616 (-6.4%), from €11.0m to €10.2m
of which Purchases: -€604,534
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
€189,772
Turnover
-€1.0m
Other operating income
+€13,087
Goods and materials
+€702,616
Services and other goods
+€90,870
Staff costs
-€15,949
Depreciation
-€6,344
Write-downs
+€1,440
Other operating charges
-€16,822
Financial income
+€4,415
Financial charges
+€6,903
Taxes
+€69,798
Result 2025
-€9,415
raises the resultlowers the result
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.
From operations
-€212,785
Investment
-€58,188
Financing
-€185,349
Cash 2024
€672,419
From operations (derived)
-€212,785
Net result for the year
-€9,415
Depreciation
+€205,368
Receivables after one year
-€520
Stocks and contracts
+€62,940
Receivables within one year
-€464,332
Deferred charges and accrued income
-€29,208
Trade debts
+€141,972
Tax, wage and social debts
+€78,834
Accrued charges and deferred income
-€198,424
Investment (derived)
-€58,188
Investment in fixed assets (net)
-€58,188
Financing
-€185,349
Debts after one year
-€189,217
Current portion of long-term debt
+€3,869
Cash 2025
€216,097
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,966,994 | €6,794,612 | -€172,382 | -2.5% |
| Fixed assets | 21/28 | €1,191,674 | €1,044,494 | -€147,180 | -12.4% |
| Tangible fixed assets | 22/27 | €1,191,674 | €1,044,494 | -€147,180 | -12.4% |
| Land and buildings | 22 | €496,434 | €426,261 | -€70,173 | -14.1% |
| Plant, machinery and equipment | 23 | €32,508 | €68,511 | +€36,003 | +111% |
| Furniture and vehicles | 24 | €8,707 | €3,142 | -€5,565 | -63.9% |
| Leasing and similar rights | 25 | €654,026 | €546,581 | -€107,444 | -16.4% |
| Current assets | 29/58 | €5,775,320 | €5,750,117 | -€25,203 | -0.4% |
| Amounts receivable after more than one year | 29 | €91,100 | €91,620 | +€520 | +0.6% |
| Other amounts receivable | 291 | €91,100 | €91,620 | +€520 | +0.6% |
| Stocks and contracts in progress | 3 | €2,540,992 | €2,478,051 | -€62,940 | -2.5% |
| Stocks | 30/36 | €2,540,992 | €2,478,051 | -€62,940 | -2.5% |
| Goods purchased for resale | 34 | €2,540,992 | €2,478,051 | -€62,940 | -2.5% |
| Amounts receivable within one year | 40/41 | €2,453,285 | €2,917,617 | +€464,332 | +18.9% |
| Trade receivables | 40 | €1,584,068 | €1,939,180 | +€355,112 | +22.4% |
| Other amounts receivable | 41 | €869,216 | €978,437 | +€109,220 | +12.6% |
| Cash at bank and in hand | 54/58 | €672,419 | €216,097 | -€456,322 | -67.9% |
| Deferred charges and accrued income | 490/1 | €17,524 | €46,732 | +€29,208 | +167% |
| Total equity and liabilities | 10/49 | €6,966,994 | €6,794,612 | -€172,382 | -2.5% |
| Equity | 10/15 | €4,685,713 | €4,676,298 | -€9,415 | -0.2% |
| Contributions | 10/11 | €123,973 | €123,973 | = | 0.0% |
| Capital | 10 | €123,973 | €123,973 | = | 0.0% |
| Issued capital | 100 | €123,973 | €123,973 | = | 0.0% |
| Reserves | 13 | €45,406 | €45,406 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,438 | €18,438 | = | 0.0% |
| Legal reserve | 130 | €15,287 | €15,287 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,151 | €3,151 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,968 | €26,968 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,516,334 | €4,506,919 | -€9,415 | -0.2% |
| Amounts payable | 17/49 | €2,281,281 | €2,118,314 | -€162,967 | -7.1% |
| Amounts payable after more than one year | 17 | €309,707 | €120,489 | -€189,217 | -61.1% |
| Financial debts | 170/4 | €309,707 | €120,489 | -€189,217 | -61.1% |
| Leasing and similar obligations | 172 | €196,332 | €51,618 | -€144,714 | -73.7% |
| Credit institutions | 173 | €113,374 | €68,871 | -€44,503 | -39.3% |
| Amounts payable within one year | 42/48 | €1,773,150 | €1,997,824 | +€224,674 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €185,349 | €189,217 | +€3,869 | +2.1% |
| Trade debts | 44 | €1,330,537 | €1,472,508 | +€141,972 | +10.7% |
| Suppliers | 440/4 | €1,330,537 | €1,472,508 | +€141,972 | +10.7% |
| Taxes, remuneration and social security | 45 | €257,265 | €336,099 | +€78,834 | +30.6% |
| Taxes | 450/3 | €120,023 | €181,403 | +€61,380 | +51.1% |
| Remuneration and social security | 454/9 | €137,242 | €154,696 | +€17,454 | +12.7% |
| Accrued charges and deferred income | 492/3 | €198,424 | €0 | -€198,424 | -100% |
| Operating income | 70/76A | €16,051,361 | €15,015,248 | -€1.0m | -6.5% |
| Turnover | 70 | €15,849,721 | €14,800,521 | -€1.0m | -6.6% |
| Other operating income | 74 | €201,639 | €214,727 | +€13,087 | +6.5% |
| Operating charges | 60/66A | €15,750,654 | €14,994,844 | -€755,810 | -4.8% |
| Goods for resale, raw materials and consumables | 60 | €10,950,763 | €10,248,147 | -€702,616 | -6.4% |
| Purchases | 600/8 | €10,789,740 | €10,185,207 | -€604,534 | -5.6% |
| Change in stocks: decrease (increase) | 609 | €161,023 | €62,940 | -€98,082 | -60.9% |
| Services and other goods | 61 | €2,953,517 | €2,862,647 | -€90,870 | -3.1% |
| Remuneration, social security and pensions | 62 | €1,627,881 | €1,643,831 | +€15,949 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,024 | €205,368 | +€6,344 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €720 | -€720 | -€1,440 | |
| Other operating charges | 640/8 | €18,749 | €35,572 | +€16,822 | +89.7% |
| Operating profit (loss) | 9901 | €300,706 | €20,404 | -€280,303 | -93.2% |
| Financial income | 75/76B | €21,405 | €25,820 | +€4,415 | +20.6% |
| Recurring financial income | 75 | €21,405 | €25,820 | +€4,415 | +20.6% |
| Other financial income | 752/9 | €21,405 | €25,820 | +€4,415 | +20.6% |
| Financial charges | 65/66B | €59,169 | €52,267 | -€6,903 | -11.7% |
| Recurring financial charges | 65 | €59,169 | €52,267 | -€6,903 | -11.7% |
| Debt charges | 650 | €34,966 | €38,253 | +€3,288 | +9.4% |
| Other financial charges | 652/9 | €24,204 | €14,013 | -€10,190 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €262,942 | -€6,043 | -€268,986 | |
| Income taxes | 67/77 | €73,170 | €3,372 | -€69,798 | -95.4% |
| Taxes | 670/3 | €73,170 | €3,372 | -€69,798 | -95.4% |
| Profit (loss) for the period | 9904 | €189,772 | -€9,415 | -€199,188 | |
| Profit (loss) for the period to be appropriated | 9905 | €189,772 | -€9,415 | -€199,188 |
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 16 October 2026 via checked.be.