MANAGEMENT AND 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.
What changed
MANAGEMENT AND ENGINEERING
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€82,792
2024 · €53,511+€29,281
Equity
€1.7m
2024 · €1.6m+€82,792
Cash
€65,594
2024 · €20,727+€44,867
Balance sheet total
€2.4m
2024 · €2.4m-€34,555
Largest movements
Assets
- Tangible fixed assets -€78,038
down €78,038 (-3.3%), from €2.4m to €2.3m
of which Land and buildings: -€78,072
- Cash +€44,867
up €44,867 (+216%), from €20,727 to €65,594
mainly Depreciation (+€85,515) and Net result for the year (+€82,792)
Equity and liabilities
- Profit (loss) carried forward +€86,747
up €86,747 (+6.1%), from €1.4m to €1.5m
- Debts after one year -€74,333
down €74,333 (-17.9%), from €415,027 to €340,694
- Other debts -€59,337
down €59,337 (-54.5%), from €108,828 to €49,492
- Tax, wage and social debts +€27,261
up €27,261 (+85.6%), from €31,833 to €59,094
of which Taxes: +€27,261
Income statement
- Gross operating margin +€30,604
up €30,604 (+13.2%), from €231,497 to €262,102
- Taxes +€5,904
up €5,904 (+8.8%), from €67,371 to €73,274
- Financial charges -€5,598
down €5,598 (-23.8%), from €23,517 to €17,919
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.
Result 2024
€53,511
Gross operating margin
+€30,604
Depreciation
-€1,293
Other operating charges
+€275
Financial income
+€0
Financial charges
+€5,598
Taxes
-€5,904
Result 2025
€82,792
raises the resultlowers the result
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.
From operations
+€135,111
Investment
-€7,477
Financing
-€82,767
Cash 2024
€20,727
From operations (derived)
+€135,111
Net result for the year
+€82,792
Depreciation
+€85,515
Receivables within one year
+€1,460
Deferred charges and accrued income
-€77
Provisions
-€1,318
Trade debts
+€2,738
Tax, wage and social debts
+€27,261
Other debts
-€59,337
Accrued charges and deferred income
-€3,923
Investment (derived)
-€7,477
Investment in fixed assets (net)
-€7,477
Financing
-€82,767
Debts after one year
-€74,333
Current portion of long-term debt
-€8,333
Short-term financial debts
-€100
Cash 2025
€65,594
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,391,903 | €2,357,348 | -€34,555 | -1.4% |
| Fixed assets | 21/28 | €2,363,572 | €2,285,534 | -€78,038 | -3.3% |
| Tangible fixed assets | 22/27 | €2,363,267 | €2,285,230 | -€78,038 | -3.3% |
| Land and buildings | 22 | €2,357,192 | €2,279,120 | -€78,072 | -3.3% |
| Plant, machinery and equipment | 23 | €5,376 | €6,071 | +€695 | +12.9% |
| Furniture and vehicles | 24 | €699 | €38 | -€661 | -94.6% |
| Financial fixed assets | 28 | €305 | €305 | = | 0.0% |
| Current assets | 29/58 | €28,331 | €71,814 | +€43,483 | +153% |
| Amounts receivable within one year | 40/41 | €4,165 | €2,705 | -€1,460 | -35.1% |
| Other amounts receivable | 41 | €4,165 | €2,705 | -€1,460 | -35.1% |
| Cash at bank and in hand | 54/58 | €20,727 | €65,594 | +€44,867 | +216% |
| Deferred charges and accrued income | 490/1 | €3,438 | €3,515 | +€77 | +2.2% |
| Total equity and liabilities | 10/49 | €2,391,903 | €2,357,348 | -€34,555 | -1.4% |
| Equity | 10/15 | €1,639,352 | €1,722,144 | +€82,792 | +5.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €160,121 | €156,167 | -€3,955 | -2.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €90,549 | €86,594 | -€3,955 | -4.4% |
| Distributable reserves | 133 | €63,375 | €63,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,417,257 | €1,504,004 | +€86,747 | +6.1% |
| Provisions and deferred taxes | 16 | €28,053 | €26,735 | -€1,318 | -4.7% |
| Deferred taxes | 168 | €28,053 | €26,735 | -€1,318 | -4.7% |
| Amounts payable | 17/49 | €724,498 | €608,470 | -€116,028 | -16.0% |
| Amounts payable after more than one year | 17 | €415,027 | €340,694 | -€74,333 | -17.9% |
| Financial debts | 170/4 | €415,027 | €340,694 | -€74,333 | -17.9% |
| Amounts payable within one year | 42/48 | €299,169 | €261,397 | -€37,771 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €82,666 | €74,333 | -€8,333 | -10.1% |
| Financial debts | 43 | €52,758 | €52,657 | -€100 | -0.2% |
| Credit institutions | 430/8 | €52,758 | €52,657 | -€100 | -0.2% |
| Trade debts | 44 | €23,083 | €25,821 | +€2,738 | +11.9% |
| Suppliers | 440/4 | €23,083 | €25,821 | +€2,738 | +11.9% |
| Taxes, remuneration and social security | 45 | €31,833 | €59,094 | +€27,261 | +85.6% |
| Taxes | 450/3 | €19,333 | €46,594 | +€27,261 | +141% |
| Remuneration and social security | 454/9 | €12,500 | €12,500 | = | 0.0% |
| Other amounts payable | 47/48 | €108,828 | €49,492 | -€59,337 | -54.5% |
| Accrued charges and deferred income | 492/3 | €10,302 | €6,379 | -€3,923 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,222 | €85,515 | +€1,293 | +1.5% |
| Other operating charges | 640/8 | €4,213 | €3,938 | -€275 | -6.5% |
| Gross operating margin | 9900 | €231,497 | €262,102 | +€30,604 | +13.2% |
| Operating profit (loss) | 9901 | €143,062 | €172,648 | +€29,586 | +20.7% |
| Financial income | 75/76B | €18 | €19 | +€0 | +2.5% |
| Recurring financial income | 75 | €18 | €19 | +€0 | +2.5% |
| Financial charges | 65/66B | €23,517 | €17,919 | -€5,598 | -23.8% |
| Recurring financial charges | 65 | €23,517 | €17,919 | -€5,598 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €119,563 | €154,748 | +€35,185 | +29.4% |
| Transfer from deferred taxes | 780 | €1,318 | €1,318 | = | 0.0% |
| Income taxes | 67/77 | €67,371 | €73,274 | +€5,904 | +8.8% |
| Profit (loss) for the period | 9904 | €53,511 | €82,792 | +€29,281 | +54.7% |
| Transfer from tax-exempt reserves | 789 | €3,955 | €3,955 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,466 | €86,747 | +€29,281 | +51.0% |
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 15 October 2026 via checked.be.