E.S.O.R.: 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.O.R.
Largest movements
- Receivables within one year +€64,737
up €64,737 (+100%), from €64,472 to €129,209
of which Trade receivables: +€46,563
- Financial fixed assets -€15,001
down €15,001 (-99.8%), from €15,026 to €25
- Cash +€6,485
up €6,485 (+35.0%), from €18,550 to €25,035
mainly Trade debts (+€22,235) and Net result for the year (+€20,506)
- Tangible fixed assets -€2,718
down €2,718 (-7.9%), from €34,324 to €31,606
of which Land and buildings: -€3,495
- Trade debts +€22,235
up €22,235 (+1,391%), from €1,599 to €23,833
- Other debts +€14,283
new in 2025: €14,283
- Tax, wage and social debts +€13,248
up €13,248 (+175%), from €7,584 to €20,832
- Reserves +€5,471
up €5,471 (+5.6%), from €98,308 to €103,779
of which Distributable reserves: +€5,471
- Debts after one year -€2,238
down €2,238 (-67.2%), from €3,331 to €1,093
- Gross operating margin +€30,776
up €30,776 (+135%), from €22,851 to €53,627
- Taxes +€9,249
up €9,249 (+125%), from €7,375 to €16,624
- Financial income +€3,882
up €3,882 (+19,410,600%), from €0 to €3,882
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 | €132,372 | €185,875 | +€53,503 | +40.4% |
| Fixed assets | 21/28 | €49,350 | €31,631 | -€17,719 | -35.9% |
| Tangible fixed assets | 22/27 | €34,324 | €31,606 | -€2,718 | -7.9% |
| Land and buildings | 22 | €34,324 | €30,829 | -€3,495 | -10.2% |
| Plant, machinery and equipment | 23 | - | €777 | +€777 | |
| Financial fixed assets | 28 | €15,026 | €25 | -€15,001 | -99.8% |
| Current assets | 29/58 | €83,022 | €154,244 | +€71,222 | +85.8% |
| Amounts receivable within one year | 40/41 | €64,472 | €129,209 | +€64,737 | +100% |
| Trade receivables | 40 | €2,912 | €49,475 | +€46,563 | +1,599% |
| Other amounts receivable | 41 | €61,560 | €79,734 | +€18,174 | +29.5% |
| Cash at bank and in hand | 54/58 | €18,550 | €25,035 | +€6,485 | +35.0% |
| Total equity and liabilities | 10/49 | €132,372 | €185,875 | +€53,503 | +40.4% |
| Equity | 10/15 | €116,908 | €122,379 | +€5,471 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €98,308 | €103,779 | +€5,471 | +5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €96,448 | €101,919 | +€5,471 | +5.7% |
| Amounts payable | 17/49 | €15,465 | €63,496 | +€48,031 | +311% |
| Amounts payable after more than one year | 17 | €3,331 | €1,093 | -€2,238 | -67.2% |
| Financial debts | 170/4 | €3,331 | €1,093 | -€2,238 | -67.2% |
| Amounts payable within one year | 42/48 | €12,134 | €61,187 | +€49,053 | +404% |
| Current portion of amounts payable after more than one year | 42 | €2,951 | €2,238 | -€713 | -24.2% |
| Trade debts | 44 | €1,599 | €23,833 | +€22,235 | +1,391% |
| Suppliers | 440/4 | €1,599 | €23,833 | +€22,235 | +1,391% |
| Taxes, remuneration and social security | 45 | €7,584 | €20,832 | +€13,248 | +175% |
| Taxes | 450/3 | €7,584 | €20,832 | +€13,248 | +175% |
| Other amounts payable | 47/48 | - | €14,283 | +€14,283 | |
| Accrued charges and deferred income | 492/3 | - | €1,216 | +€1,216 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,244 | €3,603 | +€359 | +11.1% |
| Other operating charges | 640/8 | €1,337 | €1,323 | -€14 | -1.1% |
| Non-recurring operating charges | 66A | - | €15,002 | +€15,002 | |
| Gross operating margin | 9900 | €22,851 | €53,627 | +€30,776 | +135% |
| Operating profit (loss) | 9901 | €18,269 | €33,699 | +€15,430 | +84.5% |
| Financial income | 75/76B | €0 | €3,882 | +€3,882 | +19,410,600% |
| Recurring financial income | 75 | €0 | €3,882 | +€3,882 | +19,410,600% |
| Financial charges | 65/66B | €587 | €451 | -€136 | -23.2% |
| Recurring financial charges | 65 | €587 | €451 | -€136 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €17,682 | €37,130 | +€19,448 | +110% |
| Income taxes | 67/77 | €7,375 | €16,624 | +€9,249 | +125% |
| Profit (loss) for the period | 9904 | €10,307 | €20,506 | +€10,199 | +99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,307 | €20,506 | +€10,199 | +99.0% |
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 26 October 2026 via checked.be.