ENGIBEX: 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.
ENGIBEX
Largest movements
- Current investments +€314,358
up €314,358 (+37.0%), from €850,079 to €1.2m
- Cash -€288,984
down €288,984 (-25.7%), from €1.1m to €833,829
mainly Other debts (-€700,000) and Current investments (-€314,358)
- Receivables within one year +€245,649
up €245,649 (+13.8%), from €1.8m to €2.0m
of which Trade receivables: +€282,626
- Reserves +€769,670
up €769,670 (+43.9%), from €1.8m to €2.5m
of which Distributable reserves: +€769,670
- Other debts -€700,000
down €700,000 (-70.0%), from €1.0m to €300,001
- Tax, wage and social debts +€201,514
up €201,514 (+29.3%), from €688,815 to €890,330
of which Remuneration and social security: +€103,829
- Staff costs +€771,203
up €771,203 (+16.1%), from €4.8m to €5.6m
- Gross operating margin +€515,698
up €515,698 (+7.9%), from €6.5m to €7.0m
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,805,482 | €4,090,144 | +€284,662 | +7.5% |
| Fixed assets | 21/28 | €6,268 | €5,380 | -€888 | -14.2% |
| Tangible fixed assets | 22/27 | €1,268 | €380 | -€888 | -70.0% |
| Furniture and vehicles | 24 | €1,268 | €380 | -€888 | -70.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €3,799,214 | €4,084,764 | +€285,550 | +7.5% |
| Amounts receivable within one year | 40/41 | €1,784,464 | €2,030,113 | +€245,649 | +13.8% |
| Trade receivables | 40 | €1,740,691 | €2,023,318 | +€282,626 | +16.2% |
| Other amounts receivable | 41 | €43,772 | €6,795 | -€36,977 | -84.5% |
| Current investments | 50/53 | €850,079 | €1,164,438 | +€314,358 | +37.0% |
| Cash at bank and in hand | 54/58 | €1,122,813 | €833,829 | -€288,984 | -25.7% |
| Deferred charges and accrued income | 490/1 | €41,858 | €56,384 | +€14,526 | +34.7% |
| Total equity and liabilities | 10/49 | €3,805,482 | €4,090,144 | +€284,662 | +7.5% |
| Equity | 10/15 | €1,855,109 | €2,624,778 | +€769,670 | +41.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,755,109 | €2,524,778 | +€769,670 | +43.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €1,745,109 | €2,514,778 | +€769,670 | +44.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,950,374 | €1,465,366 | -€485,008 | -24.9% |
| Amounts payable within one year | 42/48 | €1,950,374 | €1,465,366 | -€485,008 | -24.9% |
| Trade debts | 44 | €261,557 | €275,035 | +€13,478 | +5.2% |
| Suppliers | 440/4 | €261,557 | €275,035 | +€13,478 | +5.2% |
| Taxes, remuneration and social security | 45 | €688,815 | €890,330 | +€201,514 | +29.3% |
| Taxes | 450/3 | €94,641 | €192,326 | +€97,685 | +103% |
| Remuneration and social security | 454/9 | €594,174 | €698,003 | +€103,829 | +17.5% |
| Other amounts payable | 47/48 | €1,000,001 | €300,001 | -€700,000 | -70.0% |
| Non-recurring operating income | 76A | €410 | €0 | -€410 | -100% |
| Remuneration, social security and pensions | 62 | €4,796,601 | €5,567,805 | +€771,203 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,185 | €888 | -€1,297 | -59.4% |
| Other operating charges | 640/8 | €2,347 | €46,951 | +€44,604 | +1,900% |
| Gross operating margin | 9900 | €6,522,356 | €7,038,055 | +€515,698 | +7.9% |
| Operating profit (loss) | 9901 | €1,721,223 | €1,422,411 | -€298,812 | -17.4% |
| Financial income | 75/76B | €100,757 | €87,153 | -€13,604 | -13.5% |
| Recurring financial income | 75 | €100,757 | €87,153 | -€13,604 | -13.5% |
| Financial charges | 65/66B | €90,036 | €126,187 | +€36,152 | +40.2% |
| Recurring financial charges | 65 | €90,036 | €126,187 | +€36,152 | +40.2% |
| Profit (loss) for the period before taxes | 9903 | €1,731,944 | €1,383,376 | -€348,568 | -20.1% |
| Income taxes | 67/77 | €355,144 | €313,707 | -€41,438 | -11.7% |
| Profit (loss) for the period | 9904 | €1,376,800 | €1,069,670 | -€307,130 | -22.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,376,800 | €1,069,670 | -€307,130 | -22.3% |
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 15 October 2026 via checked.be.