Het Engeltje: 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.
Het Engeltje
Largest movements
- Tangible fixed assets +€213,664
up €213,664 (+40.5%), from €527,438 to €741,101
of which Land and buildings: +€226,605
- Receivables after one year -€18,163
down €18,163 (-19.4%), from €93,414 to €75,250
- Cash -€11,310
down €11,310 (-37.7%), from €29,992 to €18,682
mainly Investment in fixed assets (net) (-€258,979) and Short-term financial debts (-€82,339)
- Receivables within one year -€11,306
down €11,306 (-4.3%), from €261,306 to €250,000
of which Trade receivables: -€11,306
- Reserves +€133,095
up €133,095 (+70.5%), from €188,719 to €321,815
- Short-term financial debts -€82,339
down €82,339 (-100%), from €82,339 to €0
- Current portion of long-term debt +€57,644
up €57,644 (+207%), from €27,881 to €85,525
- Other debts +€51,050
up €51,050 (+511%), from €9,981 to €61,031
- Tax, wage and social debts +€35,139
up €35,139 (+91.5%), from €38,414 to €73,553
of which Remuneration and social security: +€18,605
- Gross operating margin +€140,026
up €140,026 (+37.8%), from €370,249 to €510,275
- Staff costs +€51,159
up €51,159 (+22.5%), from €226,876 to €278,036
- Taxes +€16,534
up €16,534 (+101%), from €16,433 to €32,967
- Depreciation +€14,083
up €14,083 (+45.1%), from €31,232 to €45,315
- Financial charges +€5,591
up €5,591 (+37.2%), from €15,032 to €20,624
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 | €917,731 | €1,090,947 | +€173,217 | +18.9% |
| Fixed assets | 21/28 | €527,438 | €741,101 | +€213,664 | +40.5% |
| Tangible fixed assets | 22/27 | €527,438 | €741,101 | +€213,664 | +40.5% |
| Land and buildings | 22 | €449,839 | €676,444 | +€226,605 | +50.4% |
| Plant, machinery and equipment | 23 | €1,303 | €767 | -€536 | -41.2% |
| Furniture and vehicles | 24 | €43,767 | €38,268 | -€5,498 | -12.6% |
| Other tangible fixed assets | 26 | €32,529 | €25,622 | -€6,907 | -21.2% |
| Current assets | 29/58 | €390,293 | €349,846 | -€40,447 | -10.4% |
| Amounts receivable after more than one year | 29 | €93,414 | €75,250 | -€18,163 | -19.4% |
| Other amounts receivable | 291 | €93,414 | €75,250 | -€18,163 | -19.4% |
| Amounts receivable within one year | 40/41 | €261,306 | €250,000 | -€11,306 | -4.3% |
| Trade receivables | 40 | €11,306 | €0 | -€11,306 | -100% |
| Other amounts receivable | 41 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,992 | €18,682 | -€11,310 | -37.7% |
| Deferred charges and accrued income | 490/1 | €5,581 | €5,913 | +€332 | +6.0% |
| Total equity and liabilities | 10/49 | €917,731 | €1,090,947 | +€173,217 | +18.9% |
| Equity | 10/15 | €393,719 | €526,815 | +€133,095 | +33.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €188,719 | €321,815 | +€133,095 | +70.5% |
| Distributable reserves | 133 | €188,719 | €321,815 | +€133,095 | +70.5% |
| Investment grants | 15 | €200,000 | €200,000 | = | 0.0% |
| Provisions and deferred taxes | 16 | €50,000 | €50,000 | = | 0.0% |
| Deferred taxes | 168 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable | 17/49 | €474,011 | €514,133 | +€40,121 | +8.5% |
| Amounts payable after more than one year | 17 | €289,762 | €260,798 | -€28,964 | -10.0% |
| Financial debts | 170/4 | €289,762 | €260,798 | -€28,964 | -10.0% |
| Amounts payable within one year | 42/48 | €178,287 | €244,927 | +€66,640 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €27,881 | €85,525 | +€57,644 | +207% |
| Financial debts | 43 | €82,339 | €0 | -€82,339 | -100% |
| Credit institutions | 430/8 | €82,339 | €0 | -€82,339 | -100% |
| Trade debts | 44 | €19,672 | €24,818 | +€5,146 | +26.2% |
| Suppliers | 440/4 | €19,672 | €24,818 | +€5,146 | +26.2% |
| Taxes, remuneration and social security | 45 | €38,414 | €73,553 | +€35,139 | +91.5% |
| Taxes | 450/3 | €1,433 | €17,967 | +€16,534 | +1,154% |
| Remuneration and social security | 454/9 | €36,981 | €55,587 | +€18,605 | +50.3% |
| Other amounts payable | 47/48 | €9,981 | €61,031 | +€51,050 | +511% |
| Accrued charges and deferred income | 492/3 | €5,962 | €8,408 | +€2,446 | +41.0% |
| Remuneration, social security and pensions | 62 | €226,876 | €278,036 | +€51,159 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,232 | €45,315 | +€14,083 | +45.1% |
| Other operating charges | 640/8 | €2,093 | €2,459 | +€367 | +17.5% |
| Gross operating margin | 9900 | €370,249 | €510,275 | +€140,026 | +37.8% |
| Operating profit (loss) | 9901 | €110,048 | €184,465 | +€74,417 | +67.6% |
| Financial income | 75/76B | €2,132 | €2,221 | +€88 | +4.1% |
| Recurring financial income | 75 | €2,132 | €2,221 | +€88 | +4.1% |
| Financial charges | 65/66B | €15,032 | €20,624 | +€5,591 | +37.2% |
| Recurring financial charges | 65 | €15,032 | €20,624 | +€5,591 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €97,148 | €166,062 | +€68,914 | +70.9% |
| Income taxes | 67/77 | €16,433 | €32,967 | +€16,534 | +101% |
| Profit (loss) for the period | 9904 | €80,715 | €133,095 | +€52,381 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €80,715 | €133,095 | +€52,381 | +64.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.