E&S HOLDING: 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
E&S HOLDING
NACE 64.210, Activities of holding companies
financial year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€609,543
2023 · -€47,667-€561,876
Equity
€3.4m
2023 · €4.0m-€609,543
Cash
€479,678
2023 · €740,200-€260,522
Balance sheet total
€28.8m
2023 · €22.9m+€5.9m
Largest movements
Assets
- Receivables within one year +€4.5m
up €4.5m (+57.9%), from €7.8m to €12.3m
of which Other amounts receivable: +€5.0m
- Current investments +€2.1m
up €2.1m (+58.9%), from €3.6m to €5.8m
- Financial fixed assets +€1.1m
up €1.1m (+15.5%), from €7.2m to €8.3m
- Tangible fixed assets -€853,229
down €853,229 (-57.7%), from €1.5m to €626,474
of which Land and buildings: -€1.1m
- Intangible fixed assets -€738,610
down €738,610 (-37.7%), from €2.0m to €1.2m
Equity and liabilities
- Other debts +€6.0m
up €6.0m (+108.4%), from €5.5m to €11.5m
- Debts after one year +€1.5m
up €1.5m (+79.6%), from €1.9m to €3.4m
- Short-term financial debts -€949,496
down €949,496 (-9.7%), from €9.8m to €8.9m
- Profit (loss) carried forward -€609,543
down €609,543 (-40.6%), from €1.5m to €892,259
- Trade debts -€377,219
down €377,219 (-77.8%), from €484,600 to €107,380
Income statement
- Turnover -€446,963
down €446,963 (-17.6%), from €2.5m to €2.1m
- Financial charges +€404,467
up €404,467 (+99.4%), from €406,726 to €811,193
- Services and other goods -€175,499
down €175,499 (-19.2%), from €915,045 to €739,546
- Taxes -€171,931
down €171,931 (-72.7%), from €236,410 to €64,479
- Financial income +€96,870
up €96,870 (+30.8%), from €314,726 to €411,596
From the 2023 result to the 2024 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 2023
-€47,667
Turnover
-€446,963
Other operating income
+€1,177
Services and other goods
+€175,499
Staff costs
-€81,612
Depreciation
-€44,707
Other operating charges
-€29,603
Financial income
+€96,870
Financial charges
-€404,467
Taxes
+€171,931
Result 2024
-€609,543
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.4m
Investment
-€2.5m
Financing
+€824,883
Cash 2023
€740,200
From operations (derived)
+€1.4m
Net result for the year
-€609,543
Depreciation
+€798,716
Receivables within one year
-€4.5m
Deferred charges and accrued income
+€60,819
Trade debts
-€377,219
Tax, wage and social debts
-€16,868
Other debts
+€6.0m
Accrued charges and deferred income
+€30,534
Investment (derived)
-€2.5m
Investment in fixed assets (net)
-€324,220
Current investments
-€2.1m
Financing
+€824,883
Debts after one year
+€1.5m
Current portion of long-term debt
+€248,269
Short-term financial debts
-€949,496
Cash 2024
€479,678
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,927,667 | €28,786,139 | +€5.9m | +25.6% |
| Fixed assets | 21/28 | €10,666,598 | €10,192,102 | -€474,496 | -4.4% |
| Intangible fixed assets | 21 | €1,959,756 | €1,221,145 | -€738,610 | -37.7% |
| Tangible fixed assets | 22/27 | €1,479,703 | €626,474 | -€853,229 | -57.7% |
| Land and buildings | 22 | €1,474,948 | €354,606 | -€1.1m | -76.0% |
| Furniture and vehicles | 24 | €4,755 | €12,202 | +€7,446 | +156.6% |
| Leasing and similar rights | 25 | - | €259,667 | +€259,667 | |
| Financial fixed assets | 28 | €7,227,139 | €8,344,483 | +€1.1m | +15.5% |
| Affiliated companies | 280/1 | €7,227,139 | €8,344,483 | +€1.1m | +15.5% |
| Participating interests | 280 | €7,227,139 | €8,344,483 | +€1.1m | +15.5% |
| Current assets | 29/58 | €12,261,069 | €18,594,036 | +€6.3m | +51.7% |
| Amounts receivable within one year | 40/41 | €7,798,504 | €12,311,188 | +€4.5m | +57.9% |
| Trade receivables | 40 | €1,219,928 | €709,784 | -€510,144 | -41.8% |
| Other amounts receivable | 41 | €6,578,575 | €11,601,404 | +€5.0m | +76.4% |
| Current investments | 50/53 | €3,633,045 | €5,774,668 | +€2.1m | +58.9% |
| Other investments | 51/53 | €3,633,045 | €5,774,668 | +€2.1m | +58.9% |
| Cash at bank and in hand | 54/58 | €740,200 | €479,678 | -€260,522 | -35.2% |
| Deferred charges and accrued income | 490/1 | €89,321 | €28,502 | -€60,819 | -68.1% |
| Total equity and liabilities | 10/49 | €22,927,667 | €28,786,139 | +€5.9m | +25.6% |
| Equity | 10/15 | €3,961,553 | €3,352,010 | -€609,543 | -15.4% |
| Contributions | 10/11 | €1,562,500 | €1,562,500 | = | 0.0% |
| Reserves | 13 | €897,251 | €897,251 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,115 | €16,115 | = | 0.0% |
| Own shares acquired | 1312 | €16,115 | €16,115 | = | 0.0% |
| Tax-exempt reserves | 132 | €442,050 | €442,050 | = | 0.0% |
| Distributable reserves | 133 | €439,086 | €439,086 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,501,802 | €892,259 | -€609,543 | -40.6% |
| Amounts payable | 17/49 | €18,966,114 | €25,434,128 | +€6.5m | +34.1% |
| Amounts payable after more than one year | 17 | €1,916,322 | €3,442,432 | +€1.5m | +79.6% |
| Financial debts | 170/4 | €1,916,322 | €3,442,432 | +€1.5m | +79.6% |
| Leasing and similar obligations | 172 | - | €210,222 | +€210,222 | |
| Credit institutions | 173 | €1,916,322 | €3,232,210 | +€1.3m | +68.7% |
| Amounts payable within one year | 42/48 | €17,017,475 | €21,928,845 | +€4.9m | +28.9% |
| Current portion of amounts payable after more than one year | 42 | €1,076,418 | €1,324,687 | +€248,269 | +23.1% |
| Financial debts | 43 | €9,828,671 | €8,879,175 | -€949,496 | -9.7% |
| Credit institutions | 430/8 | €9,828,671 | €8,879,175 | -€949,496 | -9.7% |
| Trade debts | 44 | €484,600 | €107,380 | -€377,219 | -77.8% |
| Suppliers | 440/4 | €484,600 | €107,380 | -€377,219 | -77.8% |
| Taxes, remuneration and social security | 45 | €87,837 | €70,969 | -€16,868 | -19.2% |
| Taxes | 450/3 | €7,410 | €0 | -€7,410 | -100.0% |
| Remuneration and social security | 454/9 | €80,427 | €70,969 | -€9,458 | -11.8% |
| Other amounts payable | 47/48 | €5,539,950 | €11,546,634 | +€6.0m | +108.4% |
| Accrued charges and deferred income | 492/3 | €32,317 | €62,851 | +€30,534 | +94.5% |
| Operating income | 70/76A | €2,551,920 | €2,106,133 | -€445,787 | -17.5% |
| Turnover | 70 | €2,532,778 | €2,085,814 | -€446,963 | -17.6% |
| Other operating income | 74 | €19,142 | €20,319 | +€1,177 | +6.1% |
| Operating charges | 60/66A | €2,271,177 | €2,251,600 | -€19,577 | -0.9% |
| Services and other goods | 61 | €915,045 | €739,546 | -€175,499 | -19.2% |
| Remuneration, social security and pensions | 62 | €587,787 | €669,399 | +€81,612 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €754,009 | €798,716 | +€44,707 | +5.9% |
| Other operating charges | 640/8 | €14,336 | €43,939 | +€29,603 | +206.5% |
| Operating profit (loss) | 9901 | €280,743 | -€145,467 | -€426,210 | |
| Financial income | 75/76B | €314,726 | €411,596 | +€96,870 | +30.8% |
| Recurring financial income | 75 | €314,726 | €411,596 | +€96,870 | +30.8% |
| Income from current assets | 751 | €314,726 | €411,596 | +€96,870 | +30.8% |
| Financial charges | 65/66B | €406,726 | €811,193 | +€404,467 | +99.4% |
| Recurring financial charges | 65 | €406,726 | €811,193 | +€404,467 | +99.4% |
| Debt charges | 650 | €364,447 | €539,786 | +€175,340 | +48.1% |
| Other financial charges | 652/9 | €42,279 | €271,407 | +€229,127 | +541.9% |
| Profit (loss) for the period before taxes | 9903 | €188,743 | -€545,064 | -€733,807 | |
| Income taxes | 67/77 | €236,410 | €64,479 | -€171,931 | -72.7% |
| Taxes | 670/3 | €236,410 | €64,479 | -€171,931 | -72.7% |
| Profit (loss) for the period | 9904 | -€47,667 | -€609,543 | -€561,876 | -1178.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,667 | -€609,543 | -€561,876 | -1178.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.