HOLDING ENGELS: 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.
HOLDING ENGELS
Largest movements
- Receivables within one year +€190,971
up €190,971 (+74.4%), from €256,513 to €447,484
- Cash -€85,690
down €85,690 (-78.9%), from €108,624 to €22,934
mainly Receivables within one year (-€190,971) and Debts after one year (-€30,000)
- Profit (loss) carried forward +€169,256
up €169,256 (+21.0%), from €807,600 to €976,857
- Debts after one year -€30,000
down €30,000 (-26.2%), from €114,391 to €84,391
- Other debts -€26,000
down €26,000 (-11.4%), from €228,851 to €202,851
- Financial income +€87,178
up €87,178 (+99.3%), from €87,822 to €175,000
- Financial charges -€294
down €294 (-12.6%), from €2,331 to €2,037
- Gross operating margin -€259
down €259 (-10.6%), from -€2,449 to -€2,708
- Other operating charges +€31
up €31 (+3.2%), from €968 to €998
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 | €1,782,231 | €1,897,512 | +€115,282 | +6.5% |
| Fixed assets | 21/28 | €1,211,204 | €1,221,204 | +€10,000 | +0.8% |
| Financial fixed assets | 28 | €1,211,204 | €1,221,204 | +€10,000 | +0.8% |
| Current assets | 29/58 | €571,027 | €676,309 | +€105,282 | +18.4% |
| Amounts receivable within one year | 40/41 | €256,513 | €447,484 | +€190,971 | +74.4% |
| Other amounts receivable | 41 | €256,513 | €447,484 | +€190,971 | +74.4% |
| Current investments | 50/53 | €205,891 | €205,891 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €108,624 | €22,934 | -€85,690 | -78.9% |
| Total equity and liabilities | 10/49 | €1,782,231 | €1,897,512 | +€115,282 | +6.5% |
| Equity | 10/15 | €1,425,991 | €1,595,248 | +€169,256 | +11.9% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €243,391 | €243,391 | = | 0.0% |
| Non-distributable reserves | 130/1 | €205,891 | €205,891 | = | 0.0% |
| Own shares acquired | 1312 | €205,891 | €205,891 | = | 0.0% |
| Distributable reserves | 133 | €37,500 | €37,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €807,600 | €976,857 | +€169,256 | +21.0% |
| Amounts payable | 17/49 | €356,240 | €302,265 | -€53,975 | -15.2% |
| Amounts payable after more than one year | 17 | €114,391 | €84,391 | -€30,000 | -26.2% |
| Financial debts | 170/4 | €114,391 | €84,391 | -€30,000 | -26.2% |
| Amounts payable within one year | 42/48 | €229,044 | €203,078 | -€25,967 | -11.3% |
| Trade debts | 44 | €194 | €227 | +€33 | +17.2% |
| Suppliers | 440/4 | €194 | €227 | +€33 | +17.2% |
| Other amounts payable | 47/48 | €228,851 | €202,851 | -€26,000 | -11.4% |
| Accrued charges and deferred income | 492/3 | €12,804 | €14,796 | +€1,992 | +15.6% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€2,449 | -€2,708 | -€259 | -10.6% |
| Operating profit (loss) | 9901 | -€3,417 | -€3,707 | -€290 | -8.5% |
| Financial income | 75/76B | €87,822 | €175,000 | +€87,178 | +99.3% |
| Recurring financial income | 75 | €87,822 | €175,000 | +€87,178 | +99.3% |
| Financial charges | 65/66B | €2,331 | €2,037 | -€294 | -12.6% |
| Recurring financial charges | 65 | €2,331 | €2,037 | -€294 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €82,074 | €169,256 | +€87,182 | +106% |
| Profit (loss) for the period | 9904 | €82,074 | €169,256 | +€87,182 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €82,074 | €169,256 | +€87,182 | +106% |
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 22 October 2026 via checked.be.