ArcelorMittal ESP: 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.
What changed
ArcelorMittal ESP
NACE 24.100, Manufacture of basic metals
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€261,935
2024 · €2.8m-€2.5m
Equity
€17.1m
2024 · €21.8m-€4.7m
Cash
€24,328
2024 · €5,163+€19,165
Balance sheet total
€59.0m
2024 · €55.3m+€3.7m
Largest movements
Assets
- Stocks and contracts +€12.4m
up €12.4m (+80.9%), from €15.4m to €27.8m
- Receivables within one year -€9.8m
down €9.8m (-31.0%), from €31.7m to €21.8m
of which Other amounts receivable: -€11.1m
- Intangible fixed assets +€789,346
up €789,346 (+2668.8%), from €29,577 to €818,922
Equity and liabilities
- Trade debts +€8.9m
up €8.9m (+97.4%), from €9.2m to €18.1m
- Reserves -€4.7m
down €4.7m (-49.9%), from €9.5m to €4.8m
of which Distributable reserves: -€4.7m
- Tax, wage and social debts -€846,231
down €846,231 (-27.7%), from €3.1m to €2.2m
of which Taxes: -€913,240
Income statement
- Turnover -€9.7m
down €9.7m (-7.8%), from €123.9m to €114.2m
- Goods and materials -€3.8m
down €3.8m (-3.8%), from €98.8m to €95.0m
of which Change in stocks: decrease (increase): -€16.8m
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.
Result 2024
€2.8m
Turnover
-€9.7m
Other operating income
+€690,159
Goods and materials
+€3.8m
Services and other goods
-€71,221
Staff costs
-€587,515
Depreciation
+€52,240
Write-downs
-€361,303
Provisions
-€347,702
Other operating charges
+€13,210
Other operating items
+€3.7m
Financial income
-€245,863
Financial charges
-€209,537
Taxes
+€808,637
Result 2025
€261,935
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.
From operations
+€7.0m
Investment
-€2.0m
Financing
-€5.0m
Cash 2024
€5,163
From operations (derived)
+€7.0m
Net result for the year
+€261,935
Depreciation
+€873,022
Stocks and contracts
-€12.4m
Receivables within one year
+€9.8m
Deferred charges and accrued income
+€26,314
Provisions
+€308,093
Trade debts
+€8.9m
Tax, wage and social debts
-€846,231
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.0m
Financing
-€5.0m
Short-term financial debts
+€35,649
Contributions, distributions and other
-€5.0m
Cash 2025
€24,328
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,344,062 | €59,039,251 | +€3.7m | +6.7% |
| Fixed assets | 21/28 | €8,247,540 | €9,356,602 | +€1.1m | +13.4% |
| Intangible fixed assets | 21 | €29,577 | €818,922 | +€789,346 | +2668.8% |
| Tangible fixed assets | 22/27 | €8,217,964 | €8,537,680 | +€319,717 | +3.9% |
| Land and buildings | 22 | €3,186,526 | €3,379,384 | +€192,858 | +6.1% |
| Plant, machinery and equipment | 23 | €3,150,885 | €4,133,969 | +€983,084 | +31.2% |
| Furniture and vehicles | 24 | €182,969 | €204,493 | +€21,524 | +11.8% |
| Assets under construction and advance payments | 27 | €1,697,583 | €819,834 | -€877,749 | -51.7% |
| Current assets | 29/58 | €47,096,521 | €49,682,649 | +€2.6m | +5.5% |
| Stocks and contracts in progress | 3 | €15,351,728 | €27,777,688 | +€12.4m | +80.9% |
| Stocks | 30/36 | €15,351,728 | €27,777,688 | +€12.4m | +80.9% |
| Raw materials and consumables | 30/31 | €8,263,014 | €19,654,434 | +€11.4m | +137.9% |
| Work in progress | 32 | €104,406 | €275,463 | +€171,057 | +163.8% |
| Finished goods | 33 | €5,238,374 | €7,847,791 | +€2.6m | +49.8% |
| Goods purchased for resale | 34 | €1,745,934 | - | -€1.7m | |
| Amounts receivable within one year | 40/41 | €31,675,981 | €21,843,298 | -€9.8m | -31.0% |
| Trade receivables | 40 | €10,156,538 | €11,450,040 | +€1.3m | +12.7% |
| Other amounts receivable | 41 | €21,519,444 | €10,393,258 | -€11.1m | -51.7% |
| Cash at bank and in hand | 54/58 | €5,163 | €24,328 | +€19,165 | +371.2% |
| Deferred charges and accrued income | 490/1 | €63,649 | €37,335 | -€26,314 | -41.3% |
| Total equity and liabilities | 10/49 | €55,344,062 | €59,039,251 | +€3.7m | +6.7% |
| Equity | 10/15 | €21,827,251 | €17,088,658 | -€4.7m | -21.7% |
| Contributions | 10/11 | €12,337,600 | €12,337,600 | = | 0.0% |
| Capital | 10 | €12,337,600 | €12,337,600 | = | 0.0% |
| Issued capital | 100 | €12,337,600 | €12,337,600 | = | 0.0% |
| Reserves | 13 | €9,488,616 | €4,750,551 | -€4.7m | -49.9% |
| Non-distributable reserves | 130/1 | €1,233,760 | €1,233,760 | = | 0.0% |
| Legal reserve | 130 | €1,233,760 | €1,233,760 | = | 0.0% |
| Distributable reserves | 133 | €8,254,856 | €3,516,791 | -€4.7m | -57.4% |
| Investment grants | 15 | €1,035 | €507 | -€528 | -51.0% |
| Provisions and deferred taxes | 16 | €204,770 | €512,863 | +€308,093 | +150.5% |
| Provisions for liabilities and charges | 160/5 | €204,425 | €512,694 | +€308,269 | +150.8% |
| Other liabilities and charges | 164/5 | €204,425 | €512,694 | +€308,269 | +150.8% |
| Deferred taxes | 168 | €345 | €169 | -€176 | -51.0% |
| Amounts payable | 17/49 | €33,312,040 | €41,437,730 | +€8.1m | +24.4% |
| Amounts payable after more than one year | 17 | €20,000,000 | €20,000,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000,000 | €20,000,000 | = | 0.0% |
| Other loans | 174 | €20,000,000 | €20,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,312,040 | €21,437,730 | +€8.1m | +61.0% |
| Financial debts | 43 | €1,081,975 | €1,117,624 | +€35,649 | +3.3% |
| Other loans | 439 | €1,081,975 | €1,117,624 | +€35,649 | +3.3% |
| Trade debts | 44 | €9,177,148 | €18,113,420 | +€8.9m | +97.4% |
| Suppliers | 440/4 | €9,177,148 | €18,113,420 | +€8.9m | +97.4% |
| Taxes, remuneration and social security | 45 | €3,052,917 | €2,206,686 | -€846,231 | -27.7% |
| Taxes | 450/3 | €1,355,086 | €441,846 | -€913,240 | -67.4% |
| Remuneration and social security | 454/9 | €1,697,831 | €1,764,841 | +€67,009 | +3.9% |
| Operating income | 70/76A | €125,498,500 | €120,151,462 | -€5.3m | -4.3% |
| Turnover | 70 | €123,859,769 | €114,169,444 | -€9.7m | -7.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€830,827 | €2,822,369 | +€3.7m | |
| Other operating income | 74 | €2,469,490 | €3,159,649 | +€690,159 | +27.9% |
| Non-recurring operating income | 76A | €68 | - | -€68 | |
| Operating charges | 60/66A | €121,309,041 | €118,819,084 | -€2.5m | -2.1% |
| Goods for resale, raw materials and consumables | 60 | €98,794,541 | €95,002,291 | -€3.8m | -3.8% |
| Purchases | 600/8 | €91,603,292 | €104,643,408 | +€13.0m | +14.2% |
| Change in stocks: decrease (increase) | 609 | €7,191,249 | -€9,641,116 | -€16.8m | |
| Services and other goods | 61 | €10,098,208 | €10,169,429 | +€71,221 | +0.7% |
| Remuneration, social security and pensions | 62 | €11,485,902 | €12,073,417 | +€587,515 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €925,262 | €873,022 | -€52,240 | -5.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€310,756 | €50,547 | +€361,303 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€39,433 | €308,269 | +€347,702 | |
| Other operating charges | 640/8 | €355,317 | €342,108 | -€13,210 | -3.7% |
| Operating profit (loss) | 9901 | €4,189,459 | €1,332,378 | -€2.9m | -68.2% |
| Financial income | 75/76B | €735,659 | €489,795 | -€245,863 | -33.4% |
| Recurring financial income | 75 | €735,659 | €489,795 | -€245,863 | -33.4% |
| Income from financial fixed assets | 750 | €734,325 | €486,190 | -€248,136 | -33.8% |
| Other financial income | 752/9 | €1,334 | €3,606 | +€2,272 | +170.4% |
| Financial charges | 65/66B | €921,915 | €1,131,452 | +€209,537 | +22.7% |
| Recurring financial charges | 65 | €914,558 | €1,131,452 | +€216,894 | +23.7% |
| Debt charges | 650 | €853,229 | €967,657 | +€114,428 | +13.4% |
| Other financial charges | 652/9 | €61,329 | €163,795 | +€102,466 | +167.1% |
| Non-recurring financial charges | 66B | €7,358 | - | -€7,358 | |
| Profit (loss) for the period before taxes | 9903 | €4,003,203 | €690,721 | -€3.3m | -82.7% |
| Transfer from deferred taxes | 780 | €176 | €176 | = | 0.0% |
| Income taxes | 67/77 | €1,237,599 | €428,962 | -€808,637 | -65.3% |
| Taxes | 670/3 | €1,237,599 | €428,962 | -€808,637 | -65.3% |
| Profit (loss) for the period | 9904 | €2,765,780 | €261,935 | -€2.5m | -90.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,765,780 | €261,935 | -€2.5m | -90.5% |
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 11 October 2026 via checked.be.