GORWELL ENGINEERING: 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.
GORWELL ENGINEERING
Largest movements
- Cash +€93,548
up €93,548 (+24.0%), from €390,260 to €483,808
mainly Net result for the year (+€94,636) and Other debts (+€5,037)
- Receivables within one year +€14,044
up €14,044 (+77.0%), from €18,234 to €32,278
of which Trade receivables: +€13,344
- Reserves +€94,636
up €94,636 (+20.5%), from €460,820 to €555,456
- Gross operating margin +€8,796
up €8,796 (+6.8%), from €128,485 to €137,281
- Taxes +€2,321
up €2,321 (+6.6%), from €35,308 to €37,629
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 | €549,801 | €649,985 | +€100,184 | +18.2% |
| Fixed assets | 21/28 | €48,005 | €44,327 | -€3,678 | -7.7% |
| Tangible fixed assets | 22/27 | €48,005 | €44,327 | -€3,678 | -7.7% |
| Land and buildings | 22 | €47,551 | €44,227 | -€3,324 | -7.0% |
| Plant, machinery and equipment | 23 | €453 | €100 | -€354 | -78.0% |
| Current assets | 29/58 | €501,796 | €605,658 | +€103,862 | +20.7% |
| Stocks and contracts in progress | 3 | €25,393 | €22,591 | -€2,803 | -11.0% |
| Stocks | 30/36 | €25,393 | €22,591 | -€2,803 | -11.0% |
| Amounts receivable within one year | 40/41 | €18,234 | €32,278 | +€14,044 | +77.0% |
| Trade receivables | 40 | €4,966 | €18,310 | +€13,344 | +268.7% |
| Other amounts receivable | 41 | €13,268 | €13,968 | +€700 | +5.3% |
| Current investments | 50/53 | €64,000 | €64,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €390,260 | €483,808 | +€93,548 | +24.0% |
| Deferred charges and accrued income | 490/1 | €3,908 | €2,981 | -€927 | -23.7% |
| Total equity and liabilities | 10/49 | €549,801 | €649,985 | +€100,184 | +18.2% |
| Equity | 10/15 | €479,420 | €574,056 | +€94,636 | +19.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €460,820 | €555,456 | +€94,636 | +20.5% |
| Distributable reserves | 133 | €460,820 | €555,456 | +€94,636 | +20.5% |
| Amounts payable | 17/49 | €70,381 | €75,929 | +€5,548 | +7.9% |
| Amounts payable within one year | 42/48 | €70,381 | €75,929 | +€5,548 | +7.9% |
| Trade debts | 44 | €8,678 | €6,364 | -€2,314 | -26.7% |
| Suppliers | 440/4 | €8,678 | €6,364 | -€2,314 | -26.7% |
| Advances received on contracts in progress | 46 | - | €514 | +€514 | |
| Taxes, remuneration and social security | 45 | €16,960 | €19,271 | +€2,311 | +13.6% |
| Taxes | 450/3 | €14,797 | €17,108 | +€2,311 | +15.6% |
| Remuneration and social security | 454/9 | €2,163 | €2,163 | = | 0.0% |
| Other amounts payable | 47/48 | €44,743 | €49,780 | +€5,037 | +11.3% |
| Non-recurring operating income | 76A | - | €5,269 | +€5,269 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,881 | €3,678 | -€204 | -5.2% |
| Other operating charges | 640/8 | €1,197 | €1,234 | +€38 | +3.1% |
| Gross operating margin | 9900 | €128,485 | €137,281 | +€8,796 | +6.8% |
| Operating profit (loss) | 9901 | €123,407 | €132,369 | +€8,962 | +7.3% |
| Financial income | 75/76B | €735 | €738 | +€3 | +0.5% |
| Recurring financial income | 75 | €735 | €738 | +€3 | +0.5% |
| Financial charges | 65/66B | €275 | €841 | +€567 | +206.2% |
| Recurring financial charges | 65 | €275 | €841 | +€567 | +206.2% |
| Profit (loss) for the period before taxes | 9903 | €123,866 | €132,265 | +€8,399 | +6.8% |
| Income taxes | 67/77 | €35,308 | €37,629 | +€2,321 | +6.6% |
| Profit (loss) for the period | 9904 | €88,559 | €94,636 | +€6,077 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €88,559 | €94,636 | +€6,077 | +6.9% |
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 10 October 2026 via checked.be.