THOMAS NAGELS MANAGEMENT & 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.
THOMAS NAGELS MANAGEMENT & ENGINEERING
Largest movements
- Financial fixed assets +€60,000
new in 2025: €60,000
- Cash -€41,489
down €41,489 (-65.7%), from €63,101 to €21,612
mainly Investment in fixed assets (net) (-€61,529) and Net result for the year (-€16,958)
- Tangible fixed assets -€4,967
down €4,967 (-15.3%), from €32,527 to €27,560
- Deferred charges and accrued income +€4,468
up €4,468 (+122%), from €3,674 to €8,142
- Receivables after one year +€3,000
up €3,000 (+7.5%), from €40,000 to €43,000
- Debts after one year +€43,705
new in 2025: €43,705
- Profit (loss) carried forward -€16,958
down €16,958 (-380%), from -€4,463 to -€21,421
- Tax, wage and social debts -€13,331
down €13,331 (-62.1%), from €21,462 to €8,131
of which Remuneration and social security: -€8,940
- Current portion of long-term debt +€7,975
new in 2025: €7,975
- Trade debts +€2,284
up €2,284 (+239%), from €954 to €3,238
- Gross operating margin -€13,858
down €13,858, from €6,139 to -€7,718
- Financial income +€789
up €789 (+175%), from €451 to €1,240
- Financial charges -€156
down €156 (-5.0%), from €3,135 to €2,979
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 | €150,845 | €174,514 | +€23,670 | +15.7% |
| Fixed assets | 21/28 | €32,527 | €87,560 | +€55,033 | +169% |
| Tangible fixed assets | 22/27 | €32,527 | €27,560 | -€4,967 | -15.3% |
| Land and buildings | 22 | €8,790 | €6,592 | -€2,197 | -25.0% |
| Plant, machinery and equipment | 23 | €2,027 | €1,227 | -€800 | -39.5% |
| Furniture and vehicles | 24 | €21,710 | €19,741 | -€1,969 | -9.1% |
| Financial fixed assets | 28 | - | €60,000 | +€60,000 | |
| Current assets | 29/58 | €118,317 | €86,954 | -€31,363 | -26.5% |
| Amounts receivable after more than one year | 29 | €40,000 | €43,000 | +€3,000 | +7.5% |
| Other amounts receivable | 291 | €40,000 | €43,000 | +€3,000 | +7.5% |
| Amounts receivable within one year | 40/41 | €11,542 | €14,199 | +€2,658 | +23.0% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €11,542 | €2,099 | -€9,442 | -81.8% |
| Cash at bank and in hand | 54/58 | €63,101 | €21,612 | -€41,489 | -65.7% |
| Deferred charges and accrued income | 490/1 | €3,674 | €8,142 | +€4,468 | +122% |
| Total equity and liabilities | 10/49 | €150,845 | €174,514 | +€23,670 | +15.7% |
| Equity | 10/15 | €127,642 | €110,685 | -€16,958 | -13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €113,506 | €113,506 | = | 0.0% |
| Distributable reserves | 133 | €113,506 | €113,506 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,463 | -€21,421 | -€16,958 | -380% |
| Amounts payable | 17/49 | €23,202 | €63,830 | +€40,628 | +175% |
| Amounts payable after more than one year | 17 | - | €43,705 | +€43,705 | |
| Financial debts | 170/4 | - | €43,705 | +€43,705 | |
| Amounts payable within one year | 42/48 | €23,202 | €20,125 | -€3,077 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,975 | +€7,975 | |
| Trade debts | 44 | €954 | €3,238 | +€2,284 | +239% |
| Suppliers | 440/4 | €954 | €3,238 | +€2,284 | +239% |
| Taxes, remuneration and social security | 45 | €21,462 | €8,131 | -€13,331 | -62.1% |
| Taxes | 450/3 | €12,522 | €8,131 | -€4,391 | -35.1% |
| Remuneration and social security | 454/9 | €8,940 | - | -€8,940 | |
| Other amounts payable | 47/48 | €786 | €781 | -€6 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,543 | €6,496 | -€47 | -0.7% |
| Other operating charges | 640/8 | €887 | €882 | -€5 | -0.5% |
| Non-recurring operating charges | 66A | €315 | - | -€315 | |
| Gross operating margin | 9900 | €6,139 | -€7,718 | -€13,858 | |
| Operating profit (loss) | 9901 | -€1,606 | -€15,096 | -€13,490 | -840% |
| Financial income | 75/76B | €451 | €1,240 | +€789 | +175% |
| Recurring financial income | 75 | €451 | €1,240 | +€789 | +175% |
| Financial charges | 65/66B | €3,135 | €2,979 | -€156 | -5.0% |
| Recurring financial charges | 65 | €3,135 | €2,979 | -€156 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,291 | -€16,836 | -€12,545 | -292% |
| Income taxes | 67/77 | €173 | €122 | -€50 | -29.2% |
| Profit (loss) for the period | 9904 | -€4,463 | -€16,958 | -€12,494 | -280% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,463 | -€16,958 | -€12,494 | -280% |
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 31 October 2026 via checked.be.