JG 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.
JG ENGELS
Largest movements
- Cash +€42,594
up €42,594 (+16.1%), from €264,696 to €307,290
mainly Net result for the year (+€23,570) and Receivables within one year (+€15,560)
- Receivables within one year -€15,560
down €15,560 (-84.9%), from €18,319 to €2,759
of which Trade receivables: -€13,868
- Reserves +€23,500
up €23,500 (+16.1%), from €146,360 to €169,860
- Gross operating margin +€4,871
up €4,871 (+17.6%), from €27,623 to €32,494
- Depreciation -€3,589
down €3,589 (-83.0%), from €4,323 to €734
- Financial income +€2,610
up €2,610 (+87.8%), from €2,972 to €5,582
- Taxes +€2,292
up €2,292 (+24.0%), from €9,542 to €11,834
- Write-downs -€827
down €827 (-42.5%), from €1,945 to €1,118
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 | €288,471 | €315,062 | +€26,591 | +9.2% |
| Fixed assets | 21/28 | €1,483 | €749 | -€734 | -49.5% |
| Tangible fixed assets | 22/27 | €1,433 | €699 | -€734 | -51.2% |
| Plant, machinery and equipment | 23 | €508 | - | -€508 | |
| Furniture and vehicles | 24 | €925 | €699 | -€226 | -24.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €286,988 | €314,313 | +€27,325 | +9.5% |
| Stocks and contracts in progress | 3 | €1,819 | €700 | -€1,119 | -61.5% |
| Stocks | 30/36 | €1,819 | €700 | -€1,119 | -61.5% |
| Amounts receivable within one year | 40/41 | €18,319 | €2,759 | -€15,560 | -84.9% |
| Trade receivables | 40 | €16,376 | €2,508 | -€13,868 | -84.7% |
| Other amounts receivable | 41 | €1,943 | €251 | -€1,692 | -87.1% |
| Cash at bank and in hand | 54/58 | €264,696 | €307,290 | +€42,594 | +16.1% |
| Deferred charges and accrued income | 490/1 | €2,154 | €3,564 | +€1,410 | +65.5% |
| Total equity and liabilities | 10/49 | €288,471 | €315,062 | +€26,591 | +9.2% |
| Equity | 10/15 | €275,603 | €299,173 | +€23,570 | +8.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €146,360 | €169,860 | +€23,500 | +16.1% |
| Distributable reserves | 133 | €146,360 | €169,860 | +€23,500 | +16.1% |
| Profit (loss) carried forward | 14 | €110,643 | €110,713 | +€70 | +0.1% |
| Amounts payable | 17/49 | €12,868 | €15,889 | +€3,021 | +23.5% |
| Amounts payable within one year | 42/48 | €12,868 | €15,889 | +€3,021 | +23.5% |
| Trade debts | 44 | €3,414 | €2,792 | -€622 | -18.2% |
| Suppliers | 440/4 | €3,414 | €2,792 | -€622 | -18.2% |
| Taxes, remuneration and social security | 45 | - | €2,181 | +€2,181 | |
| Taxes | 450/3 | - | €2,181 | +€2,181 | |
| Other amounts payable | 47/48 | €9,454 | €10,916 | +€1,462 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,323 | €734 | -€3,589 | -83.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,945 | €1,118 | -€827 | -42.5% |
| Other operating charges | 640/8 | €701 | €718 | +€17 | +2.4% |
| Gross operating margin | 9900 | €27,623 | €32,494 | +€4,871 | +17.6% |
| Operating profit (loss) | 9901 | €20,654 | €29,924 | +€9,270 | +44.9% |
| Financial income | 75/76B | €2,972 | €5,582 | +€2,610 | +87.8% |
| Recurring financial income | 75 | €2,972 | €5,582 | +€2,610 | +87.8% |
| Financial charges | 65/66B | €71 | €102 | +€31 | +43.7% |
| Recurring financial charges | 65 | €71 | €102 | +€31 | +43.7% |
| Profit (loss) for the period before taxes | 9903 | €23,555 | €35,404 | +€11,849 | +50.3% |
| Income taxes | 67/77 | €9,542 | €11,834 | +€2,292 | +24.0% |
| Profit (loss) for the period | 9904 | €14,013 | €23,570 | +€9,557 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,013 | €23,570 | +€9,557 | +68.2% |
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 13 October 2026 via checked.be.