E.S.P.: 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.P.
Largest movements
- Receivables within one year +€18,680
up €18,680 (+34.7%), from €53,794 to €72,474
of which Trade receivables: +€22,250
- Cash -€9,417
down €9,417 (-38.3%), from €24,596 to €15,179
mainly Receivables within one year (-€18,680) and Trade debts (-€720)
- Reserves +€9,421
up €9,421 (+122%), from €7,710 to €17,131
of which Distributable reserves: +€9,421
- Gross operating margin +€8,670
up €8,670 (+24.4%), from €35,491 to €44,161
- Staff costs +€4,979
up €4,979 (+17.1%), from €29,058 to €34,037
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 | €78,612 | €87,731 | +€9,119 | +11.6% |
| Fixed assets | 21/28 | €20 | €0 | -€20 | -100% |
| Tangible fixed assets | 22/27 | €20 | €0 | -€20 | -100% |
| Plant, machinery and equipment | 23 | €20 | €0 | -€20 | -100% |
| Current assets | 29/58 | €78,593 | €87,731 | +€9,139 | +11.6% |
| Amounts receivable within one year | 40/41 | €53,794 | €72,474 | +€18,680 | +34.7% |
| Trade receivables | 40 | €50,000 | €72,250 | +€22,250 | +44.5% |
| Other amounts receivable | 41 | €3,794 | €224 | -€3,570 | -94.1% |
| Cash at bank and in hand | 54/58 | €24,596 | €15,179 | -€9,417 | -38.3% |
| Deferred charges and accrued income | 490/1 | €203 | €78 | -€125 | -61.4% |
| Total equity and liabilities | 10/49 | €78,612 | €87,731 | +€9,119 | +11.6% |
| Equity | 10/15 | €69,710 | €79,131 | +€9,421 | +13.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €7,710 | €17,131 | +€9,421 | +122% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,510 | €10,931 | +€9,421 | +624% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €8,903 | €8,600 | -€303 | -3.4% |
| Amounts payable within one year | 42/48 | €8,903 | €8,600 | -€303 | -3.4% |
| Trade debts | 44 | €5,189 | €4,469 | -€720 | -13.9% |
| Suppliers | 440/4 | €5,189 | €4,469 | -€720 | -13.9% |
| Taxes, remuneration and social security | 45 | €3,714 | €4,131 | +€417 | +11.2% |
| Remuneration and social security | 454/9 | €3,714 | €4,131 | +€417 | +11.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €29,058 | €34,037 | +€4,979 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40 | €20 | -€20 | -49.9% |
| Other operating charges | 640/8 | €624 | €643 | +€19 | +3.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €35,491 | €44,161 | +€8,670 | +24.4% |
| Operating profit (loss) | 9901 | €5,769 | €9,462 | +€3,692 | +64.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.4% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €5,730 | €9,421 | +€3,691 | +64.4% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €5,730 | €9,421 | +€3,691 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,730 | €9,421 | +€3,691 | +64.4% |
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 22 October 2026 via checked.be.