Van Giels Engineering: what changed
What changed
Van Giels Engineering
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
-€5,037
2024 · €27,394-€32,430
Equity
€146,622
2024 · €151,659-€5,037
Cash
€1,232
2024 · €1,232
Balance sheet total
€617,406
2024 · €511,937+€105,469
Largest movements
Assets
- Receivables within one year +€111,004
up €111,004 (+130%), from €85,217 to €196,220
of which Trade receivables: +€84,569
- Tangible fixed assets -€16,852
down €16,852 (-4.6%), from €363,233 to €346,380
of which Leasing and similar rights: -€12,545
- Stocks and contracts +€16,753
up €16,753 (+31.7%), from €52,818 to €69,571
Equity and liabilities
- Trade debts +€129,988
up €129,988 (+591%), from €22,004 to €151,992
- Debts after one year -€24,533
down €24,533 (-8.9%), from €276,222 to €251,688
- Short-term financial debts +€9,082
up €9,082 (+40.6%), from €22,381 to €31,463
- Tax, wage and social debts -€8,220
down €8,220 (-52.1%), from €15,780 to €7,561
of which Taxes: -€15,466
Income statement
- Write-downs +€32,132
up €32,132, from -€11,279 to €20,852
- Staff costs +€31,612
up €31,612 (+885%), from €3,570 to €35,182
- Gross operating margin +€27,095
up €27,095 (+35.6%), from €76,050 to €103,145
- Taxes -€7,613
down €7,613 (-63.5%), from €11,986 to €4,373
- Depreciation +€7,301
up €7,301 (+44.1%), from €16,554 to €23,855
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€27,394
Gross operating margin
+€27,095
Staff costs
-€31,612
Depreciation
-€7,301
Write-downs
-€32,132
Other operating charges
+€528
Other operating items
+€663
Financial income
+€1,366
Financial charges
+€1,350
Taxes
+€7,613
Result 2025
-€5,037
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€21,345
Investment
-€7,002
Financing
-€14,342
Cash 2024
€1,232
From operations (derived)
+€21,345
Net result for the year
-€5,037
Depreciation
+€23,855
Stocks and contracts
-€16,753
Receivables within one year
-€111,004
Deferred charges and accrued income
+€5,435
Trade debts
+€129,988
Tax, wage and social debts
-€8,220
Other debts
+€3,079
Investment (derived)
-€7,002
Investment in fixed assets (net)
-€7,002
Financing
-€14,342
Debts after one year
-€24,533
Current portion of long-term debt
+€1,109
Short-term financial debts
+€9,082
Cash 2025
€1,232
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €511,937 | €617,406 | +€105,469 | +20.6% |
| Fixed assets | 21/28 | €363,233 | €346,380 | -€16,852 | -4.6% |
| Tangible fixed assets | 22/27 | €363,233 | €346,380 | -€16,852 | -4.6% |
| Land and buildings | 22 | €296,486 | €291,482 | -€5,003 | -1.7% |
| Plant, machinery and equipment | 23 | €8,432 | €6,923 | -€1,509 | -17.9% |
| Furniture and vehicles | 24 | €1,293 | €3,499 | +€2,206 | +171% |
| Leasing and similar rights | 25 | €57,022 | €44,476 | -€12,545 | -22.0% |
| Current assets | 29/58 | €148,704 | €271,025 | +€122,321 | +82.3% |
| Stocks and contracts in progress | 3 | €52,818 | €69,571 | +€16,753 | +31.7% |
| Stocks | 30/36 | €52,818 | €69,571 | +€16,753 | +31.7% |
| Amounts receivable within one year | 40/41 | €85,217 | €196,220 | +€111,004 | +130% |
| Trade receivables | 40 | €71,832 | €156,402 | +€84,569 | +118% |
| Other amounts receivable | 41 | €13,384 | €39,819 | +€26,434 | +198% |
| Cash at bank and in hand | 54/58 | €1,232 | €1,232 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €9,438 | €4,002 | -€5,435 | -57.6% |
| Total equity and liabilities | 10/49 | €511,937 | €617,406 | +€105,469 | +20.6% |
| Equity | 10/15 | €151,659 | €146,622 | -€5,037 | -3.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €150,659 | €148,000 | -€2,659 | -1.8% |
| Distributable reserves | 133 | €150,659 | €148,000 | -€2,659 | -1.8% |
| Profit (loss) carried forward | 14 | €0 | -€2,378 | -€2,378 | |
| Amounts payable | 17/49 | €360,278 | €470,783 | +€110,505 | +30.7% |
| Amounts payable after more than one year | 17 | €276,222 | €251,688 | -€24,533 | -8.9% |
| Financial debts | 170/4 | €276,222 | €251,688 | -€24,533 | -8.9% |
| Amounts payable within one year | 42/48 | €84,057 | €219,095 | +€135,038 | +161% |
| Current portion of amounts payable after more than one year | 42 | €23,425 | €24,533 | +€1,109 | +4.7% |
| Financial debts | 43 | €22,381 | €31,463 | +€9,082 | +40.6% |
| Credit institutions | 430/8 | €22,381 | €31,463 | +€9,082 | +40.6% |
| Trade debts | 44 | €22,004 | €151,992 | +€129,988 | +591% |
| Suppliers | 440/4 | €22,004 | €151,992 | +€129,988 | +591% |
| Taxes, remuneration and social security | 45 | €15,780 | €7,561 | -€8,220 | -52.1% |
| Taxes | 450/3 | €15,532 | €66 | -€15,466 | -99.6% |
| Remuneration and social security | 454/9 | €248 | €7,495 | +€7,247 | +2,924% |
| Other amounts payable | 47/48 | €467 | €3,546 | +€3,079 | +659% |
| Remuneration, social security and pensions | 62 | €3,570 | €35,182 | +€31,612 | +885% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,554 | €23,855 | +€7,301 | +44.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,279 | €20,852 | +€32,132 | |
| Other operating charges | 640/8 | €3,300 | €2,772 | -€528 | -16.0% |
| Non-recurring operating charges | 66A | €663 | €0 | -€663 | -100% |
| Gross operating margin | 9900 | €76,050 | €103,145 | +€27,095 | +35.6% |
| Operating profit (loss) | 9901 | €63,242 | €20,484 | -€42,758 | -67.6% |
| Financial income | 75/76B | €405 | €1,770 | +€1,366 | +338% |
| Recurring financial income | 75 | €405 | €1,770 | +€1,366 | +338% |
| Financial charges | 65/66B | €24,267 | €22,918 | -€1,350 | -5.6% |
| Recurring financial charges | 65 | €24,267 | €22,918 | -€1,350 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €39,379 | -€664 | -€40,043 | |
| Income taxes | 67/77 | €11,986 | €4,373 | -€7,613 | -63.5% |
| Profit (loss) for the period | 9904 | €27,394 | -€5,037 | -€32,430 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,394 | -€5,037 | -€32,430 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.