Mgineering: 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.
Mgineering
Largest movements
- Cash +€156,561
up €156,561 (+327%), from €47,824 to €204,385
mainly Other debts (+€744,398) and Tax, wage and social debts (+€202,929)
- Tangible fixed assets -€68,688
down €68,688 (-14.4%), from €476,171 to €407,483
of which Furniture and vehicles: -€53,744
- Receivables within one year +€48,355
up €48,355 (+12.1%), from €399,956 to €448,312
of which Trade receivables: +€73,069
- Reserves -€767,042
down €767,042 (-81.6%), from €940,010 to €172,968
of which Distributable reserves: -€761,687
- Other debts +€744,398
new in 2025: €744,398
- Tax, wage and social debts +€202,929
up €202,929 (+777%), from €26,123 to €229,051
of which Taxes: +€180,020
- Debts after one year -€49,326
down €49,326 (-17.4%), from €283,687 to €234,361
- Gross operating margin +€110,531
up €110,531 (+25.0%), from €441,511 to €552,042
- Write-downs +€55,517
up €55,517, from -€1,761 to €53,756
- Staff costs +€48,066
up €48,066 (+26.2%), from €183,379 to €231,445
- Depreciation -€27,168
down €27,168 (-26.9%), from €100,933 to €73,764
- Taxes +€16,267
up €16,267 (+50.8%), from €32,000 to €48,267
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 | €1,377,991 | €1,501,478 | +€123,487 | +9.0% |
| Fixed assets | 21/28 | €518,083 | €435,088 | -€82,995 | -16.0% |
| Intangible fixed assets | 21 | €39,674 | €25,367 | -€14,307 | -36.1% |
| Tangible fixed assets | 22/27 | €476,171 | €407,483 | -€68,688 | -14.4% |
| Land and buildings | 22 | €307,932 | €296,057 | -€11,874 | -3.9% |
| Plant, machinery and equipment | 23 | €14,510 | €11,440 | -€3,070 | -21.2% |
| Furniture and vehicles | 24 | €153,730 | €99,986 | -€53,744 | -35.0% |
| Financial fixed assets | 28 | €2,238 | €2,238 | = | 0.0% |
| Current assets | 29/58 | €859,908 | €1,066,390 | +€206,482 | +24.0% |
| Stocks and contracts in progress | 3 | €404,467 | €404,467 | = | 0.0% |
| Stocks | 30/36 | €404,467 | €404,467 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €399,956 | €448,312 | +€48,355 | +12.1% |
| Trade receivables | 40 | €355,494 | €428,562 | +€73,069 | +20.6% |
| Other amounts receivable | 41 | €44,463 | €19,749 | -€24,714 | -55.6% |
| Cash at bank and in hand | 54/58 | €47,824 | €204,385 | +€156,561 | +327% |
| Deferred charges and accrued income | 490/1 | €7,661 | €9,226 | +€1,566 | +20.4% |
| Total equity and liabilities | 10/49 | €1,377,991 | €1,501,478 | +€123,487 | +9.0% |
| Equity | 10/15 | €958,610 | €191,568 | -€767,042 | -80.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €940,010 | €172,968 | -€767,042 | -81.6% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €46,075 | €42,580 | -€3,495 | -7.6% |
| Distributable reserves | 133 | €892,075 | €130,388 | -€761,687 | -85.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €874 | €0 | -€874 | -100% |
| Deferred taxes | 168 | €874 | €0 | -€874 | -100% |
| Amounts payable | 17/49 | €418,507 | €1,309,910 | +€891,403 | +213% |
| Amounts payable after more than one year | 17 | €283,687 | €234,361 | -€49,326 | -17.4% |
| Financial debts | 170/4 | €283,687 | €234,361 | -€49,326 | -17.4% |
| Amounts payable within one year | 42/48 | €134,820 | €1,075,549 | +€940,729 | +698% |
| Current portion of amounts payable after more than one year | 42 | €59,290 | €49,326 | -€9,963 | -16.8% |
| Trade debts | 44 | €49,408 | €52,773 | +€3,365 | +6.8% |
| Suppliers | 440/4 | €49,408 | €52,773 | +€3,365 | +6.8% |
| Taxes, remuneration and social security | 45 | €26,123 | €229,051 | +€202,929 | +777% |
| Taxes | 450/3 | €854 | €180,874 | +€180,020 | +21,081% |
| Remuneration and social security | 454/9 | €25,269 | €48,178 | +€22,909 | +90.7% |
| Other amounts payable | 47/48 | - | €744,398 | +€744,398 | |
| Non-recurring operating income | 76A | €9,409 | €0 | -€9,409 | -100% |
| Remuneration, social security and pensions | 62 | €183,379 | €231,445 | +€48,066 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,933 | €73,764 | -€27,168 | -26.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,761 | €53,756 | +€55,517 | |
| Other operating charges | 640/8 | €2,680 | €4,559 | +€1,878 | +70.1% |
| Non-recurring operating charges | 66A | €638 | €1,171 | +€533 | +83.5% |
| Gross operating margin | 9900 | €441,511 | €552,042 | +€110,531 | +25.0% |
| Operating profit (loss) | 9901 | €155,642 | €187,347 | +€31,705 | +20.4% |
| Financial income | 75/76B | €172 | €21 | -€151 | -87.6% |
| Recurring financial income | 75 | €172 | €21 | -€151 | -87.6% |
| Financial charges | 65/66B | €11,682 | €14,943 | +€3,261 | +27.9% |
| Recurring financial charges | 65 | €11,682 | €14,943 | +€3,261 | +27.9% |
| Profit (loss) for the period before taxes | 9903 | €144,133 | €172,426 | +€28,293 | +19.6% |
| Transfer from deferred taxes | 780 | €500 | €874 | +€374 | +74.8% |
| Income taxes | 67/77 | €32,000 | €48,267 | +€16,267 | +50.8% |
| Profit (loss) for the period | 9904 | €112,633 | €125,033 | +€12,400 | +11.0% |
| Transfer from tax-exempt reserves | 789 | €2,000 | €3,495 | +€1,495 | +74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €114,633 | €128,528 | +€13,895 | +12.1% |
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 17 October 2026 via checked.be.