ENGCODE: 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.
ENGCODE
Largest movements
- Receivables within one year +€324,335
up €324,335 (+497%), from €65,226 to €389,561
of which Other amounts receivable: +€239,782
- Current investments -€250,989
down €250,989 (-76.5%), from €328,131 to €77,142
- Cash -€142,641
down €142,641 (-74.8%), from €190,735 to €48,094
mainly Contributions, distributions and other (-€467,299) and Receivables within one year (-€324,335)
- Tangible fixed assets -€12,293
down €12,293 (-41.1%), from €29,904 to €17,611
- Reserves -€96,432
down €96,432 (-16.4%), from €588,905 to €492,473
- Tax, wage and social debts +€12,827
up €12,827 (+97.1%), from €13,204 to €26,031
- Financial income +€236,450
up €236,450 (+514%), from €46,005 to €282,455
- Gross operating margin -€36,981
down €36,981 (-20.6%), from €179,309 to €142,328
- Depreciation +€1,937
up €1,937 (+18.7%), from €10,355 to €12,293
- Taxes -€1,926
down €1,926 (-4.7%), from €40,601 to €38,675
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 | €616,107 | €534,398 | -€81,709 | -13.3% |
| Fixed assets | 21/28 | €31,904 | €19,601 | -€12,303 | -38.6% |
| Tangible fixed assets | 22/27 | €29,904 | €17,611 | -€12,293 | -41.1% |
| Furniture and vehicles | 24 | €29,904 | €17,611 | -€12,293 | -41.1% |
| Financial fixed assets | 28 | €2,000 | €1,990 | -€10 | -0.5% |
| Current assets | 29/58 | €584,203 | €514,797 | -€69,406 | -11.9% |
| Amounts receivable within one year | 40/41 | €65,226 | €389,561 | +€324,335 | +497% |
| Trade receivables | 40 | €60,745 | €145,297 | +€84,553 | +139% |
| Other amounts receivable | 41 | €4,481 | €244,264 | +€239,782 | +5,351% |
| Current investments | 50/53 | €328,131 | €77,142 | -€250,989 | -76.5% |
| Cash at bank and in hand | 54/58 | €190,735 | €48,094 | -€142,641 | -74.8% |
| Deferred charges and accrued income | 490/1 | €111 | - | -€111 | |
| Total equity and liabilities | 10/49 | €616,107 | €534,398 | -€81,709 | -13.3% |
| Equity | 10/15 | €598,905 | €502,473 | -€96,432 | -16.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €588,905 | €492,473 | -€96,432 | -16.4% |
| Distributable reserves | 133 | €588,905 | €492,473 | -€96,432 | -16.4% |
| Amounts payable | 17/49 | €17,202 | €31,925 | +€14,723 | +85.6% |
| Amounts payable within one year | 42/48 | €17,202 | €31,925 | +€14,723 | +85.6% |
| Trade debts | 44 | €3,998 | €3,568 | -€430 | -10.8% |
| Suppliers | 440/4 | €3,998 | €3,568 | -€430 | -10.8% |
| Taxes, remuneration and social security | 45 | €13,204 | €26,031 | +€12,827 | +97.1% |
| Taxes | 450/3 | €13,204 | €26,031 | +€12,827 | +97.1% |
| Other amounts payable | 47/48 | - | €2,326 | +€2,326 | |
| Remuneration, social security and pensions | 62 | €10 | - | -€10 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,355 | €12,293 | +€1,937 | +18.7% |
| Other operating charges | 640/8 | €1,107 | €1,088 | -€19 | -1.7% |
| Gross operating margin | 9900 | €179,309 | €142,328 | -€36,981 | -20.6% |
| Operating profit (loss) | 9901 | €167,837 | €128,947 | -€38,890 | -23.2% |
| Financial income | 75/76B | €46,005 | €282,455 | +€236,450 | +514% |
| Recurring financial income | 75 | €46,005 | €282,455 | +€236,450 | +514% |
| Financial charges | 65/66B | €391 | €1,861 | +€1,470 | +376% |
| Recurring financial charges | 65 | €391 | €1,861 | +€1,470 | +376% |
| Profit (loss) for the period before taxes | 9903 | €213,451 | €409,542 | +€196,091 | +91.9% |
| Income taxes | 67/77 | €40,601 | €38,675 | -€1,926 | -4.7% |
| Profit (loss) for the period | 9904 | €172,851 | €370,867 | +€198,017 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €172,851 | €370,867 | +€198,017 | +115% |
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 23 October 2026 via checked.be.