ENGEMAN: 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.
ENGEMAN
Largest movements
- Tangible fixed assets +€28,362
up €28,362 (+9.8%), from €288,986 to €317,348
of which Land and buildings: +€32,659
- Cash -€22,990
down €22,990 (-1.6%), from €1.5m to €1.4m
mainly Contributions, distributions and other (-€346,244) and Investment in fixed assets (net) (-€78,941)
- Other debts +€259,191
new in 2025: €259,191
- Reserves -€245,961
down €245,961 (-13.4%), from €1.8m to €1.6m
of which Distributable reserves: -€245,961
- Other operating charges -€29,797
down €29,797 (-81.1%), from €36,755 to €6,957
- Gross operating margin +€16,349
up €16,349 (+9.8%), from €166,033 to €182,382
- Taxes +€11,404
up €11,404 (+42.8%), from €26,675 to €38,079
- Depreciation +€9,905
up €9,905 (+24.4%), from €40,674 to €50,579
- Financial income +€5,423
up €5,423 (+61.6%), from €8,800 to €14,223
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 | €1,948,944 | €1,945,846 | -€3,098 | -0.2% |
| Fixed assets | 21/28 | €472,591 | €500,952 | +€28,362 | +6.0% |
| Tangible fixed assets | 22/27 | €288,986 | €317,348 | +€28,362 | +9.8% |
| Land and buildings | 22 | €267,089 | €299,748 | +€32,659 | +12.2% |
| Plant, machinery and equipment | 23 | €5,099 | €5,452 | +€353 | +6.9% |
| Furniture and vehicles | 24 | €16,798 | €12,148 | -€4,650 | -27.7% |
| Financial fixed assets | 28 | €183,605 | €183,605 | = | 0.0% |
| Current assets | 29/58 | €1,476,353 | €1,444,894 | -€31,460 | -2.1% |
| Amounts receivable within one year | 40/41 | €8,470 | - | -€8,470 | |
| Trade receivables | 40 | €8,470 | - | -€8,470 | |
| Cash at bank and in hand | 54/58 | €1,467,883 | €1,444,894 | -€22,990 | -1.6% |
| Total equity and liabilities | 10/49 | €1,948,944 | €1,945,846 | -€3,098 | -0.2% |
| Equity | 10/15 | €1,853,476 | €1,607,515 | -€245,961 | -13.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,834,926 | €1,588,965 | -€245,961 | -13.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,814,317 | €1,568,356 | -€245,961 | -13.6% |
| Amounts payable | 17/49 | €95,468 | €338,331 | +€242,863 | +254.4% |
| Amounts payable within one year | 42/48 | €95,468 | €338,331 | +€242,863 | +254.4% |
| Trade debts | 44 | €70,000 | €57,690 | -€12,310 | -17.6% |
| Suppliers | 440/4 | €70,000 | €57,690 | -€12,310 | -17.6% |
| Taxes, remuneration and social security | 45 | €25,468 | €21,450 | -€4,018 | -15.8% |
| Taxes | 450/3 | €25,468 | €21,450 | -€4,018 | -15.8% |
| Other amounts payable | 47/48 | - | €259,191 | +€259,191 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,674 | €50,579 | +€9,905 | +24.4% |
| Other operating charges | 640/8 | €36,755 | €6,957 | -€29,797 | -81.1% |
| Non-recurring operating charges | 66A | - | €529 | +€529 | |
| Gross operating margin | 9900 | €166,033 | €182,382 | +€16,349 | +9.8% |
| Operating profit (loss) | 9901 | €88,604 | €124,316 | +€35,712 | +40.3% |
| Financial income | 75/76B | €8,800 | €14,223 | +€5,423 | +61.6% |
| Recurring financial income | 75 | €8,800 | €14,223 | +€5,423 | +61.6% |
| Financial charges | 65/66B | €175 | €176 | +€1 | +0.7% |
| Recurring financial charges | 65 | €175 | €176 | +€1 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €97,229 | €138,363 | +€41,133 | +42.3% |
| Income taxes | 67/77 | €26,675 | €38,079 | +€11,404 | +42.8% |
| Profit (loss) for the period | 9904 | €70,554 | €100,284 | +€29,729 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,554 | €100,284 | +€29,729 | +42.1% |
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.