ENGRENAGE: 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.
What changed
ENGRENAGE
NACE 26.400, Manufacture of computer, electronic and optical products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€14,675
2024 · -€38,917+€24,242
Equity
€261,378
2024 · €276,930-€15,552
Cash
€251,251
2024 · €156,304+€94,947
Balance sheet total
€346,615
2024 · €362,731-€16,116
Largest movements
Assets
- Cash +€94,947
up €94,947 (+60.7%), from €156,304 to €251,251
mainly Depreciation (+€74,732) and Receivables within one year (+€38,558)
- Tangible fixed assets -€71,578
down €71,578 (-50.9%), from €140,572 to €68,994
of which Furniture and vehicles: -€59,699
- Receivables within one year -€38,558
down €38,558 (-63.2%), from €60,977 to €22,419
of which Trade receivables: -€38,558
Equity and liabilities
- Profit (loss) carried forward -€14,675
down €14,675 (-6.2%), from €235,492 to €220,817
Income statement
- Gross operating margin +€21,117
up €21,117 (+39.3%), from €53,699 to €74,816
- Depreciation -€4,596
down €4,596 (-5.8%), from €79,328 to €74,732
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
-€38,917
Gross operating margin
+€21,117
Staff costs
-€592
Depreciation
+€4,596
Other operating charges
-€202
Financial income
-€497
Financial charges
-€31
Taxes
-€150
Result 2025
-€14,675
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.
From operations
+€98,978
Investment
-€3,154
Financing
-€877
Cash 2024
€156,304
From operations (derived)
+€98,978
Net result for the year
-€14,675
Depreciation
+€74,732
Stocks and contracts
+€927
Receivables within one year
+€38,558
Provisions
-€589
Trade debts
-€1,824
Tax, wage and social debts
-€1,824
Advances received
+€1,546
Other debts
+€2,128
Investment (derived)
-€3,154
Investment in fixed assets (net)
-€3,154
Financing
-€877
Contributions, distributions and other
-€877
Cash 2025
€251,251
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €362,731 | €346,615 | -€16,116 | -4.4% |
| Fixed assets | 21/28 | €140,769 | €69,191 | -€71,578 | -50.8% |
| Tangible fixed assets | 22/27 | €140,572 | €68,994 | -€71,578 | -50.9% |
| Land and buildings | 22 | €27,448 | €15,447 | -€12,001 | -43.7% |
| Plant, machinery and equipment | 23 | €729 | €1,910 | +€1,181 | +162.0% |
| Furniture and vehicles | 24 | €101,817 | €42,119 | -€59,699 | -58.6% |
| Other tangible fixed assets | 26 | €10,578 | €9,519 | -€1,059 | -10.0% |
| Financial fixed assets | 28 | €197 | €197 | = | 0.0% |
| Current assets | 29/58 | €221,962 | €277,424 | +€55,462 | +25.0% |
| Stocks and contracts in progress | 3 | €4,681 | €3,755 | -€927 | -19.8% |
| Stocks | 30/36 | €4,681 | €3,755 | -€927 | -19.8% |
| Amounts receivable within one year | 40/41 | €60,977 | €22,419 | -€38,558 | -63.2% |
| Trade receivables | 40 | €48,214 | €9,656 | -€38,558 | -80.0% |
| Other amounts receivable | 41 | €12,763 | €12,763 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €156,304 | €251,251 | +€94,947 | +60.7% |
| Total equity and liabilities | 10/49 | €362,731 | €346,615 | -€16,116 | -4.4% |
| Equity | 10/15 | €276,930 | €261,378 | -€15,552 | -5.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €19,338 | €19,338 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €17,479 | €17,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €235,492 | €220,817 | -€14,675 | -6.2% |
| Investment grants | 15 | €3,508 | €2,631 | -€877 | -25.0% |
| Provisions and deferred taxes | 16 | €2,355 | €1,767 | -€589 | -25.0% |
| Deferred taxes | 168 | €2,355 | €1,767 | -€589 | -25.0% |
| Amounts payable | 17/49 | €83,445 | €83,470 | +€25 | 0.0% |
| Amounts payable within one year | 42/48 | €57,445 | €57,470 | +€25 | 0.0% |
| Trade debts | 44 | €22,198 | €20,374 | -€1,824 | -8.2% |
| Suppliers | 440/4 | €22,198 | €20,374 | -€1,824 | -8.2% |
| Advances received on contracts in progress | 46 | €250 | €1,796 | +€1,546 | +618.4% |
| Taxes, remuneration and social security | 45 | €14,997 | €13,173 | -€1,824 | -12.2% |
| Taxes | 450/3 | €14,997 | €13,173 | -€1,824 | -12.2% |
| Other amounts payable | 47/48 | €20,000 | €22,128 | +€2,128 | +10.6% |
| Accrued charges and deferred income | 492/3 | €26,000 | €26,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €28 | €620 | +€592 | +2085.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,328 | €74,732 | -€4,596 | -5.8% |
| Other operating charges | 640/8 | €15,441 | €15,643 | +€202 | +1.3% |
| Gross operating margin | 9900 | €53,699 | €74,816 | +€21,117 | +39.3% |
| Operating profit (loss) | 9901 | -€41,098 | -€16,178 | +€24,920 | +60.6% |
| Financial income | 75/76B | €1,942 | €1,445 | -€497 | -25.6% |
| Recurring financial income | 75 | €1,942 | €1,445 | -€497 | -25.6% |
| Financial charges | 65/66B | €209 | €240 | +€31 | +14.7% |
| Recurring financial charges | 65 | €209 | €240 | +€31 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€39,365 | -€14,973 | +€24,392 | +62.0% |
| Transfer from deferred taxes | 780 | €589 | €589 | = | 0.0% |
| Income taxes | 67/77 | €141 | €291 | +€150 | +106.1% |
| Profit (loss) for the period | 9904 | -€38,917 | -€14,675 | +€24,242 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,917 | -€14,675 | +€24,242 | +62.3% |
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 4 October 2026 via checked.be.