PRODUCT ENGINEERING SERVICES: 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.
PRODUCT ENGINEERING SERVICES
Largest movements
- Cash -€241,524
down €241,524 (-73.2%), from €329,988 to €88,463
mainly Investment in fixed assets (net) (-€245,530) and Receivables within one year (-€58,207)
- Tangible fixed assets +€140,897
up €140,897 (+87.7%), from €160,645 to €301,542
of which Land and buildings: +€87,738
- Receivables within one year +€58,207
up €58,207 (+9.2%), from €630,816 to €689,023
of which Trade receivables: +€43,366
- Deferred charges and accrued income +€53,302
up €53,302 (+381.7%), from €13,965 to €67,266
- Reserves +€30,161
up €30,161 (+3.5%), from €870,867 to €901,027
of which Distributable reserves: +€30,161
- Staff costs +€110,927
up €110,927 (+15.5%), from €714,084 to €825,011
- Gross operating margin +€80,102
up €80,102 (+9.1%), from €879,763 to €959,865
- Depreciation +€19,757
up €19,757 (+28.7%), from €68,955 to €88,712
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.
Cash bridge derived
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 | €2,395,080 | €2,420,776 | +€25,696 | +1.1% |
| Fixed assets | 21/28 | €160,645 | €317,463 | +€156,819 | +97.6% |
| Intangible fixed assets | 21 | - | €15,921 | +€15,921 | |
| Tangible fixed assets | 22/27 | €160,645 | €301,542 | +€140,897 | +87.7% |
| Land and buildings | 22 | - | €87,738 | +€87,738 | |
| Plant, machinery and equipment | 23 | €40,616 | €31,067 | -€9,550 | -23.5% |
| Furniture and vehicles | 24 | €59,520 | €146,768 | +€87,247 | +146.6% |
| Other tangible fixed assets | 26 | €60,508 | €35,970 | -€24,538 | -40.6% |
| Current assets | 29/58 | €2,234,435 | €2,103,313 | -€131,122 | -5.9% |
| Stocks and contracts in progress | 3 | €1,259,667 | €1,258,560 | -€1,107 | -0.1% |
| Stocks | 30/36 | €1,259,667 | €1,258,560 | -€1,107 | -0.1% |
| Amounts receivable within one year | 40/41 | €630,816 | €689,023 | +€58,207 | +9.2% |
| Trade receivables | 40 | €606,488 | €649,854 | +€43,366 | +7.2% |
| Other amounts receivable | 41 | €24,328 | €39,169 | +€14,841 | +61.0% |
| Cash at bank and in hand | 54/58 | €329,988 | €88,463 | -€241,524 | -73.2% |
| Deferred charges and accrued income | 490/1 | €13,965 | €67,266 | +€53,302 | +381.7% |
| Total equity and liabilities | 10/49 | €2,395,080 | €2,420,776 | +€25,696 | +1.1% |
| Equity | 10/15 | €1,870,867 | €1,901,027 | +€30,161 | +1.6% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €870,867 | €901,027 | +€30,161 | +3.5% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €752,117 | €782,277 | +€30,161 | +4.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €524,213 | €519,749 | -€4,464 | -0.9% |
| Amounts payable after more than one year | 17 | €36,839 | €22,920 | -€13,919 | -37.8% |
| Financial debts | 170/4 | €36,839 | €22,920 | -€13,919 | -37.8% |
| Amounts payable within one year | 42/48 | €482,672 | €489,546 | +€6,874 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €21,807 | €13,919 | -€7,888 | -36.2% |
| Trade debts | 44 | €302,424 | €294,992 | -€7,432 | -2.5% |
| Suppliers | 440/4 | €302,424 | €294,992 | -€7,432 | -2.5% |
| Taxes, remuneration and social security | 45 | €58,441 | €77,344 | +€18,903 | +32.3% |
| Taxes | 450/3 | €2,093 | €2,446 | +€353 | +16.9% |
| Remuneration and social security | 454/9 | €56,348 | €74,898 | +€18,550 | +32.9% |
| Other amounts payable | 47/48 | €100,000 | €103,292 | +€3,292 | +3.3% |
| Accrued charges and deferred income | 492/3 | €4,702 | €7,282 | +€2,580 | +54.9% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Remuneration, social security and pensions | 62 | €714,084 | €825,011 | +€110,927 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,955 | €88,712 | +€19,757 | +28.7% |
| Other operating charges | 640/8 | €6,201 | €5,719 | -€482 | -7.8% |
| Non-recurring operating charges | 66A | €5,463 | €0 | -€5,463 | -100.0% |
| Gross operating margin | 9900 | €879,763 | €959,865 | +€80,102 | +9.1% |
| Operating profit (loss) | 9901 | €85,060 | €40,423 | -€44,637 | -52.5% |
| Financial income | 75/76B | €23,811 | €23,789 | -€22 | -0.1% |
| Recurring financial income | 75 | €23,811 | €23,789 | -€22 | -0.1% |
| Financial charges | 65/66B | €31,607 | €31,605 | -€2 | 0.0% |
| Recurring financial charges | 65 | €31,607 | €31,605 | -€2 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €77,264 | €32,607 | -€44,657 | -57.8% |
| Income taxes | 67/77 | €1,733 | €2,446 | +€713 | +41.1% |
| Profit (loss) for the period | 9904 | €75,531 | €30,161 | -€45,370 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,531 | €30,161 | -€45,370 | -60.1% |
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 9 October 2026 via checked.be.