M-Engin: 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.
M-Engin
Largest movements
- Receivables within one year +€57,325
up €57,325 (+28.0%), from €204,626 to €261,951
- Cash +€17,474
up €17,474 (+87.6%), from €19,956 to €37,430
mainly Other debts (+€50,668) and Net result for the year (+€47,385)
- Other debts +€50,668
up €50,668 (+38.3%), from €132,144 to €182,812
- Profit (loss) carried forward +€12,385
up €12,385 (+7.4%), from €167,520 to €179,905
- Tax, wage and social debts +€11,253
up €11,253 (+39.7%), from €28,318 to €39,571
- Gross operating margin +€14,579
up €14,579 (+22.3%), from €65,339 to €79,917
- Financial charges +€9,784
up €9,784 (+3,763%), from €260 to €10,044
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 | €334,284 | €409,189 | +€74,905 | +22.4% |
| Fixed assets | 21/28 | €109,702 | €109,809 | +€107 | +0.1% |
| Tangible fixed assets | 22/27 | €9,682 | €9,789 | +€107 | +1.1% |
| Plant, machinery and equipment | 23 | €3,688 | €2,656 | -€1,032 | -28.0% |
| Furniture and vehicles | 24 | €5,993 | €7,132 | +€1,139 | +19.0% |
| Financial fixed assets | 28 | €100,020 | €100,020 | = | 0.0% |
| Current assets | 29/58 | €224,582 | €299,381 | +€74,799 | +33.3% |
| Amounts receivable within one year | 40/41 | €204,626 | €261,951 | +€57,325 | +28.0% |
| Trade receivables | 40 | €204,626 | €261,951 | +€57,325 | +28.0% |
| Cash at bank and in hand | 54/58 | €19,956 | €37,430 | +€17,474 | +87.6% |
| Total equity and liabilities | 10/49 | €334,284 | €409,189 | +€74,905 | +22.4% |
| Equity | 10/15 | €172,520 | €184,905 | +€12,385 | +7.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €167,520 | €179,905 | +€12,385 | +7.4% |
| Amounts payable | 17/49 | €161,764 | €224,285 | +€62,520 | +38.6% |
| Amounts payable within one year | 42/48 | €161,701 | €224,285 | +€62,584 | +38.7% |
| Trade debts | 44 | €1,239 | €1,902 | +€663 | +53.5% |
| Suppliers | 440/4 | €1,239 | €1,902 | +€663 | +53.5% |
| Taxes, remuneration and social security | 45 | €28,318 | €39,571 | +€11,253 | +39.7% |
| Taxes | 450/3 | €28,318 | €39,571 | +€11,253 | +39.7% |
| Other amounts payable | 47/48 | €132,144 | €182,812 | +€50,668 | +38.3% |
| Accrued charges and deferred income | 492/3 | €64 | - | -€64 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,604 | €4,985 | -€620 | -11.1% |
| Other operating charges | 640/8 | €445 | €453 | +€7 | +1.7% |
| Gross operating margin | 9900 | €65,339 | €79,917 | +€14,579 | +22.3% |
| Operating profit (loss) | 9901 | €59,289 | €74,480 | +€15,191 | +25.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €260 | €10,044 | +€9,784 | +3,763% |
| Recurring financial charges | 65 | €260 | €10,044 | +€9,784 | +3,763% |
| Profit (loss) for the period before taxes | 9903 | €59,029 | €64,437 | +€5,408 | +9.2% |
| Income taxes | 67/77 | €16,813 | €17,052 | +€239 | +1.4% |
| Profit (loss) for the period | 9904 | €42,216 | €47,385 | +€5,169 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,216 | €47,385 | +€5,169 | +12.2% |
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 23 October 2026 via checked.be.