ENGINEERING PROJECTS AND MANAGEMENT: 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.
ENGINEERING PROJECTS AND MANAGEMENT
Largest movements
- Tangible fixed assets -€23,723
down €23,723 (-5.3%), from €446,923 to €423,200
of which Land and buildings: -€12,600
- Cash +€6,707
up €6,707 (+10.8%), from €61,922 to €68,629
mainly Net result for the year (+€37,952) and Depreciation (+€33,098)
- Reserves +€37,793
up €37,793 (+31.9%), from €118,417 to €156,210
of which Distributable reserves: +€40,000
- Other debts -€28,373
down €28,373 (-12.4%), from €229,394 to €201,022
- Tax, wage and social debts -€14,009
down €14,009 (-70.0%), from €20,000 to €5,991
- Debts after one year -€9,893
down €9,893 (-24.3%), from €40,718 to €30,826
- Depreciation +€11,210
up €11,210 (+51.2%), from €21,888 to €33,098
- Taxes -€7,788
down €7,788 (-38.9%), from €20,006 to €12,218
- Gross operating margin +€1,509
up €1,509 (+1.8%), from €84,605 to €86,114
- Financial charges +€1,408
up €1,408 (+176.8%), from €796 to €2,204
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €520,484 | €501,560 | -€18,924 | -3.6% |
| Formation expenses | 20 | €9,531 | €9,531 | = | 0.0% |
| Fixed assets | 21/28 | €447,123 | €423,400 | -€23,723 | -5.3% |
| Tangible fixed assets | 22/27 | €446,923 | €423,200 | -€23,723 | -5.3% |
| Land and buildings | 22 | €371,700 | €359,100 | -€12,600 | -3.4% |
| Plant, machinery and equipment | 23 | €14,751 | €8,749 | -€6,002 | -40.7% |
| Furniture and vehicles | 24 | €60,472 | €55,351 | -€5,121 | -8.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €63,831 | €68,629 | +€4,798 | +7.5% |
| Amounts receivable within one year | 40/41 | €1,909 | - | -€1,909 | |
| Other amounts receivable | 41 | €1,909 | - | -€1,909 | |
| Cash at bank and in hand | 54/58 | €61,922 | €68,629 | +€6,707 | +10.8% |
| Total equity and liabilities | 10/49 | €520,484 | €501,560 | -€18,924 | -3.6% |
| Equity | 10/15 | €194,496 | €231,561 | +€37,065 | +19.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,417 | €156,210 | +€37,793 | +31.9% |
| Tax-exempt reserves | 132 | €48,557 | €46,350 | -€2,207 | -4.5% |
| Distributable reserves | 133 | €69,860 | €109,860 | +€40,000 | +57.3% |
| Profit (loss) carried forward | 14 | €55,704 | €55,863 | +€159 | +0.3% |
| Investment grants | 15 | €1,775 | €887 | -€887 | -50.0% |
| Provisions and deferred taxes | 16 | €20,810 | €19,864 | -€946 | -4.5% |
| Deferred taxes | 168 | €20,810 | €19,864 | -€946 | -4.5% |
| Amounts payable | 17/49 | €305,179 | €250,135 | -€55,043 | -18.0% |
| Amounts payable after more than one year | 17 | €40,718 | €30,826 | -€9,893 | -24.3% |
| Financial debts | 170/4 | €40,718 | €30,826 | -€9,893 | -24.3% |
| Amounts payable within one year | 42/48 | €264,460 | €219,310 | -€45,151 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €9,120 | €9,700 | +€580 | +6.4% |
| Trade debts | 44 | €5,946 | €2,596 | -€3,350 | -56.3% |
| Suppliers | 440/4 | €5,946 | €2,596 | -€3,350 | -56.3% |
| Taxes, remuneration and social security | 45 | €20,000 | €5,991 | -€14,009 | -70.0% |
| Taxes | 450/3 | €20,000 | €5,991 | -€14,009 | -70.0% |
| Other amounts payable | 47/48 | €229,394 | €201,022 | -€28,373 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,888 | €33,098 | +€11,210 | +51.2% |
| Other operating charges | 640/8 | €3,374 | €2,838 | -€536 | -15.9% |
| Gross operating margin | 9900 | €84,605 | €86,114 | +€1,509 | +1.8% |
| Operating profit (loss) | 9901 | €59,344 | €50,179 | -€9,165 | -15.4% |
| Financial income | 75/76B | €1,384 | €1,250 | -€135 | -9.7% |
| Recurring financial income | 75 | €1,384 | €1,250 | -€135 | -9.7% |
| Financial charges | 65/66B | €796 | €2,204 | +€1,408 | +176.8% |
| Recurring financial charges | 65 | €796 | €2,204 | +€1,408 | +176.8% |
| Profit (loss) for the period before taxes | 9903 | €59,932 | €49,225 | -€10,707 | -17.9% |
| Transfer from deferred taxes | 780 | €946 | €946 | = | 0.0% |
| Income taxes | 67/77 | €20,006 | €12,218 | -€7,788 | -38.9% |
| Profit (loss) for the period | 9904 | €40,872 | €37,952 | -€2,919 | -7.1% |
| Transfer from tax-exempt reserves | 789 | €2,207 | €2,207 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,079 | €40,159 | -€2,919 | -6.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.