GAETAN ENGLEBERT: 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.
GAETAN ENGLEBERT
Largest movements
- Receivables within one year +€15,307
up €15,307 (+19.2%), from €79,677 to €94,984
of which Other amounts receivable: +€19,391
- Cash -€10,469
down €10,469 (-14.8%), from €70,523 to €60,054
mainly Receivables within one year (-€15,307) and Debts after one year (-€12,694)
- Tangible fixed assets -€2,803
down €2,803 (-3.1%), from €91,537 to €88,734
of which Land and buildings: -€3,399
- Debts after one year -€12,694
down €12,694 (-13.7%), from €92,735 to €80,041
- Profit (loss) carried forward +€9,727
up €9,727 (+8.5%), from €113,885 to €123,613
- Tax, wage and social debts +€4,783
up €4,783 (+342%), from €1,397 to €6,180
- Gross operating margin +€23,760
up €23,760, from -€3,943 to €19,817
- Taxes -€2,182
down €2,182, from €1,397 to -€785
- Other operating charges -€862
down €862 (-22.9%), from €3,768 to €2,905
- Financial charges -€811
down €811 (-15.4%), from €5,268 to €4,457
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 | €241,737 | €243,772 | +€2,035 | +0.8% |
| Fixed assets | 21/28 | €91,537 | €88,734 | -€2,803 | -3.1% |
| Tangible fixed assets | 22/27 | €91,537 | €88,734 | -€2,803 | -3.1% |
| Land and buildings | 22 | €91,537 | €88,138 | -€3,399 | -3.7% |
| Furniture and vehicles | 24 | - | €596 | +€596 | |
| Current assets | 29/58 | €150,200 | €155,038 | +€4,838 | +3.2% |
| Amounts receivable within one year | 40/41 | €79,677 | €94,984 | +€15,307 | +19.2% |
| Trade receivables | 40 | €18,909 | €14,824 | -€4,085 | -21.6% |
| Other amounts receivable | 41 | €60,768 | €80,160 | +€19,391 | +31.9% |
| Cash at bank and in hand | 54/58 | €70,523 | €60,054 | -€10,469 | -14.8% |
| Total equity and liabilities | 10/49 | €241,737 | €243,772 | +€2,035 | +0.8% |
| Equity | 10/15 | €132,685 | €142,413 | +€9,727 | +7.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €3,800 | €3,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,800 | €3,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,800 | €3,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,885 | €123,613 | +€9,727 | +8.5% |
| Amounts payable | 17/49 | €109,052 | €101,360 | -€7,692 | -7.1% |
| Amounts payable after more than one year | 17 | €92,735 | €80,041 | -€12,694 | -13.7% |
| Financial debts | 170/4 | €92,735 | €80,041 | -€12,694 | -13.7% |
| Amounts payable within one year | 42/48 | €16,317 | €21,319 | +€5,002 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €12,240 | €12,694 | +€454 | +3.7% |
| Trade debts | 44 | €2,680 | €2,444 | -€236 | -8.8% |
| Suppliers | 440/4 | €2,680 | €2,444 | -€236 | -8.8% |
| Taxes, remuneration and social security | 45 | €1,397 | €6,180 | +€4,783 | +342% |
| Taxes | 450/3 | €1,397 | €6,180 | +€4,783 | +342% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,399 | €3,513 | +€114 | +3.4% |
| Other operating charges | 640/8 | €3,768 | €2,905 | -€862 | -22.9% |
| Gross operating margin | 9900 | -€3,943 | €19,817 | +€23,760 | |
| Operating profit (loss) | 9901 | -€11,109 | €13,399 | +€24,508 | |
| Financial charges | 65/66B | €5,268 | €4,457 | -€811 | -15.4% |
| Recurring financial charges | 65 | €5,268 | €4,457 | -€811 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€16,377 | €8,942 | +€25,319 | |
| Income taxes | 67/77 | €1,397 | -€785 | -€2,182 | |
| Profit (loss) for the period | 9904 | -€17,774 | €9,727 | +€27,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,774 | €9,727 | +€27,501 |
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 24 October 2026 via checked.be.