Robby Engelbert: 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.
Robby Engelbert
Largest movements
- Cash +€51,186
up €51,186 (+256%), from €20,005 to €71,192
mainly Depreciation (+€32,927) and Trade debts (+€22,498)
- Receivables within one year +€37,134
up €37,134 (+45.1%), from €82,414 to €119,548
of which Trade receivables: +€40,577
- Tangible fixed assets -€32,927
down €32,927 (-30.4%), from €108,313 to €75,387
- Stocks and contracts -€20,755
down €20,755 (-35.6%), from €58,319 to €37,564
- Trade debts +€22,498
up €22,498 (+160%), from €14,019 to €36,517
- Reserves +€14,470
up €14,470 (+10.6%), from €135,901 to €150,372
of which Distributable reserves: +€14,470
- Tax, wage and social debts +€4,981
up €4,981 (+354%), from €1,408 to €6,389
of which Remuneration and social security: +€4,408
- Other debts -€4,966
down €4,966 (-5.0%), from €99,787 to €94,821
- Gross operating margin +€117,487
up €117,487, from -€10,199 to €107,288
- Staff costs +€57,164
new in 2025: €57,164
- Other operating charges -€2,167
down €2,167 (-60.9%), from €3,558 to €1,392
- Depreciation +€1,697
up €1,697 (+5.4%), from €31,230 to €32,927
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 | €269,716 | €306,698 | +€36,982 | +13.7% |
| Fixed assets | 21/28 | €108,328 | €75,402 | -€32,927 | -30.4% |
| Tangible fixed assets | 22/27 | €108,313 | €75,387 | -€32,927 | -30.4% |
| Plant, machinery and equipment | 23 | €28,943 | €19,747 | -€9,197 | -31.8% |
| Furniture and vehicles | 24 | €36,702 | €20,853 | -€15,849 | -43.2% |
| Other tangible fixed assets | 26 | €42,668 | €34,787 | -€7,881 | -18.5% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €161,388 | €231,296 | +€69,909 | +43.3% |
| Stocks and contracts in progress | 3 | €58,319 | €37,564 | -€20,755 | -35.6% |
| Stocks | 30/36 | €58,319 | €37,564 | -€20,755 | -35.6% |
| Amounts receivable within one year | 40/41 | €82,414 | €119,548 | +€37,134 | +45.1% |
| Trade receivables | 40 | €73,543 | €114,120 | +€40,577 | +55.2% |
| Other amounts receivable | 41 | €8,872 | €5,428 | -€3,443 | -38.8% |
| Cash at bank and in hand | 54/58 | €20,005 | €71,192 | +€51,186 | +256% |
| Deferred charges and accrued income | 490/1 | €649 | €2,993 | +€2,344 | +361% |
| Total equity and liabilities | 10/49 | €269,716 | €306,698 | +€36,982 | +13.7% |
| Equity | 10/15 | €154,501 | €168,972 | +€14,470 | +9.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,901 | €150,372 | +€14,470 | +10.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €134,041 | €148,512 | +€14,470 | +10.8% |
| Amounts payable | 17/49 | €115,215 | €137,726 | +€22,512 | +19.5% |
| Amounts payable within one year | 42/48 | €115,215 | €137,726 | +€22,512 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €14,019 | €36,517 | +€22,498 | +160% |
| Suppliers | 440/4 | €14,019 | €36,517 | +€22,498 | +160% |
| Taxes, remuneration and social security | 45 | €1,408 | €6,389 | +€4,981 | +354% |
| Taxes | 450/3 | €1,408 | €1,981 | +€573 | +40.7% |
| Remuneration and social security | 454/9 | - | €4,408 | +€4,408 | |
| Other amounts payable | 47/48 | €99,787 | €94,821 | -€4,966 | -5.0% |
| Remuneration, social security and pensions | 62 | - | €57,164 | +€57,164 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,230 | €32,927 | +€1,697 | +5.4% |
| Other operating charges | 640/8 | €3,558 | €1,392 | -€2,167 | -60.9% |
| Gross operating margin | 9900 | -€10,199 | €107,288 | +€117,487 | |
| Operating profit (loss) | 9901 | -€44,987 | €15,805 | +€60,792 | |
| Financial income | 75/76B | €371 | €163 | -€208 | -56.1% |
| Recurring financial income | 75 | €371 | €163 | -€208 | -56.1% |
| Financial charges | 65/66B | €144 | €1,182 | +€1,038 | +720% |
| Recurring financial charges | 65 | €144 | €1,182 | +€1,038 | +720% |
| Profit (loss) for the period before taxes | 9903 | -€44,760 | €14,786 | +€59,547 | |
| Income taxes | 67/77 | €321 | €316 | -€5 | -1.5% |
| Profit (loss) for the period | 9904 | -€45,081 | €14,470 | +€59,551 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,081 | €14,470 | +€59,551 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.