E.S.C.T.: 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.
E.S.C.T.
Largest movements
- Tangible fixed assets +€18,593
up €18,593 (+4.0%), from €461,092 to €479,686
of which Land and buildings: +€63,642
- Receivables within one year +€14,520
up €14,520 (+149%), from €9,775 to €24,295
of which Trade receivables: +€16,432
- Cash -€8,319
down €8,319 (-14.5%), from €57,530 to €49,210
mainly Investment in fixed assets (net) (-€45,368) and Net result for the year (-€39,632)
- Debts after one year +€43,619
up €43,619 (+12.0%), from €364,688 to €408,307
- Reserves -€39,632
down €39,632 (-33.0%), from €120,132 to €80,500
- Tax, wage and social debts +€12,736
up €12,736 (+811%), from €1,570 to €14,306
of which Taxes: +€10,586
- Current portion of long-term debt +€5,911
up €5,911 (+36.1%), from €16,374 to €22,286
- Gross operating margin -€57,615
down €57,615 (-84.6%), from €68,082 to €10,467
- Taxes -€4,416
down €4,416 (-96.8%), from €4,564 to €148
- Financial income -€2,408
down €2,408 (-98.5%), from €2,445 to €37
- Depreciation +€1,667
up €1,667 (+6.6%), from €25,108 to €26,775
- Other operating charges +€1,467
up €1,467 (+92.5%), from €1,586 to €3,052
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 | €529,738 | €557,423 | +€27,685 | +5.2% |
| Fixed assets | 21/28 | €461,092 | €479,686 | +€18,593 | +4.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €461,092 | €479,686 | +€18,593 | +4.0% |
| Land and buildings | 22 | €388,393 | €452,035 | +€63,642 | +16.4% |
| Furniture and vehicles | 24 | €43,098 | €27,651 | -€15,447 | -35.8% |
| Assets under construction and advance payments | 27 | €29,602 | €0 | -€29,602 | -100% |
| Current assets | 29/58 | €68,646 | €77,737 | +€9,091 | +13.2% |
| Amounts receivable within one year | 40/41 | €9,775 | €24,295 | +€14,520 | +149% |
| Trade receivables | 40 | €0 | €16,432 | +€16,432 | |
| Other amounts receivable | 41 | €9,775 | €7,864 | -€1,911 | -19.6% |
| Current investments | 50/53 | €781 | €3,699 | +€2,917 | +373% |
| Cash at bank and in hand | 54/58 | €57,530 | €49,210 | -€8,319 | -14.5% |
| Deferred charges and accrued income | 490/1 | €560 | €533 | -€27 | -4.9% |
| Total equity and liabilities | 10/49 | €529,738 | €557,423 | +€27,685 | +5.2% |
| Equity | 10/15 | €138,732 | €99,100 | -€39,632 | -28.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,132 | €80,500 | -€39,632 | -33.0% |
| Distributable reserves | 133 | €120,132 | €80,500 | -€39,632 | -33.0% |
| Amounts payable | 17/49 | €391,006 | €458,323 | +€67,317 | +17.2% |
| Amounts payable after more than one year | 17 | €364,688 | €408,307 | +€43,619 | +12.0% |
| Financial debts | 170/4 | €364,688 | €408,307 | +€43,619 | +12.0% |
| Amounts payable within one year | 42/48 | €20,017 | €39,135 | +€19,118 | +95.5% |
| Current portion of amounts payable after more than one year | 42 | €16,374 | €22,286 | +€5,911 | +36.1% |
| Trade debts | 44 | €1,022 | €2,153 | +€1,131 | +111% |
| Suppliers | 440/4 | €1,022 | €2,153 | +€1,131 | +111% |
| Taxes, remuneration and social security | 45 | €1,570 | €14,306 | +€12,736 | +811% |
| Taxes | 450/3 | €1,570 | €12,156 | +€10,586 | +674% |
| Remuneration and social security | 454/9 | - | €2,150 | +€2,150 | |
| Other amounts payable | 47/48 | €1,051 | €391 | -€661 | -62.9% |
| Accrued charges and deferred income | 492/3 | €6,300 | €10,880 | +€4,580 | +72.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,108 | €26,775 | +€1,667 | +6.6% |
| Other operating charges | 640/8 | €1,586 | €3,052 | +€1,467 | +92.5% |
| Gross operating margin | 9900 | €68,082 | €10,467 | -€57,615 | -84.6% |
| Operating profit (loss) | 9901 | €41,388 | -€19,360 | -€60,748 | |
| Financial income | 75/76B | €2,445 | €37 | -€2,408 | -98.5% |
| Recurring financial income | 75 | €2,445 | €37 | -€2,408 | -98.5% |
| Financial charges | 65/66B | €20,810 | €20,161 | -€648 | -3.1% |
| Recurring financial charges | 65 | €20,810 | €20,161 | -€648 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €23,023 | -€39,485 | -€62,508 | |
| Income taxes | 67/77 | €4,564 | €148 | -€4,416 | -96.8% |
| Profit (loss) for the period | 9904 | €18,460 | -€39,632 | -€58,092 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,460 | -€39,632 | -€58,092 |
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.