E & S Projects: 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 Projects
Largest movements
- Receivables within one year -€26,109
down €26,109 (-53.7%), from €48,624 to €22,515
of which Trade receivables: -€30,907
- Cash +€5,033
up €5,033 (+88.0%), from €5,720 to €10,752
mainly Receivables within one year (+€26,109) and Depreciation (+€4,070)
- Stocks and contracts -€3,573
down €3,573 (-34.7%), from €10,293 to €6,720
- Tangible fixed assets +€2,372
up €2,372 (+26.5%), from €8,949 to €11,321
of which Furniture and vehicles: +€4,518
- Deferred charges and accrued income -€1,153
down €1,153 (-29.2%), from €3,955 to €2,802
- Current portion of long-term debt -€12,682
down €12,682 (-91.9%), from €13,803 to €1,121
- Profit (loss) carried forward -€6,745
down €6,745 (-26.8%), from €25,195 to €18,451
- Tax, wage and social debts -€4,028
down €4,028 (-23.3%), from €17,266 to €13,238
- Accrued charges and deferred income +€1,235
up €1,235 (+41.4%), from €2,985 to €4,220
- Trade debts -€1,211
down €1,211 (-33.2%), from €3,648 to €2,437
- Gross operating margin -€37,550
down €37,550 (-89.7%), from €41,874 to €4,324
- Taxes -€7,853
down €7,853 (-85.0%), from €9,240 to €1,387
- Financial charges -€1,901
down €1,901 (-48.3%), from €3,937 to €2,036
- Other operating charges -€1,288
down €1,288 (-42.2%), from €3,054 to €1,766
- Write-downs +€1,178
new in 2025: €1,178
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €77,540 | €54,110 | -€23,430 | -30.2% |
| Fixed assets | 21/28 | €8,949 | €11,321 | +€2,372 | +26.5% |
| Tangible fixed assets | 22/27 | €8,949 | €11,321 | +€2,372 | +26.5% |
| Plant, machinery and equipment | 23 | €8,949 | €6,804 | -€2,146 | -24.0% |
| Furniture and vehicles | 24 | - | €4,518 | +€4,518 | |
| Current assets | 29/58 | €68,591 | €42,789 | -€25,802 | -37.6% |
| Stocks and contracts in progress | 3 | €10,293 | €6,720 | -€3,573 | -34.7% |
| Stocks | 30/36 | €10,293 | €6,720 | -€3,573 | -34.7% |
| Amounts receivable within one year | 40/41 | €48,624 | €22,515 | -€26,109 | -53.7% |
| Trade receivables | 40 | €47,065 | €16,159 | -€30,907 | -65.7% |
| Other amounts receivable | 41 | €1,559 | €6,356 | +€4,798 | +307.9% |
| Cash at bank and in hand | 54/58 | €5,720 | €10,752 | +€5,033 | +88.0% |
| Deferred charges and accrued income | 490/1 | €3,955 | €2,802 | -€1,153 | -29.2% |
| Total equity and liabilities | 10/49 | €77,540 | €54,110 | -€23,430 | -30.2% |
| Equity | 10/15 | €39,255 | €32,511 | -€6,745 | -17.2% |
| Contributions | 10/11 | €12,200 | €12,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,195 | €18,451 | -€6,745 | -26.8% |
| Amounts payable | 17/49 | €38,285 | €21,599 | -€16,686 | -43.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €35,300 | €17,379 | -€17,921 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €13,803 | €1,121 | -€12,682 | -91.9% |
| Trade debts | 44 | €3,648 | €2,437 | -€1,211 | -33.2% |
| Suppliers | 440/4 | €3,648 | €2,437 | -€1,211 | -33.2% |
| Taxes, remuneration and social security | 45 | €17,266 | €13,238 | -€4,028 | -23.3% |
| Taxes | 450/3 | €17,266 | €13,238 | -€4,028 | -23.3% |
| Other amounts payable | 47/48 | €583 | €583 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,985 | €4,220 | +€1,235 | +41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,549 | €4,070 | +€522 | +14.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,178 | +€1,178 | |
| Other operating charges | 640/8 | €3,054 | €1,766 | -€1,288 | -42.2% |
| Gross operating margin | 9900 | €41,874 | €4,324 | -€37,550 | -89.7% |
| Operating profit (loss) | 9901 | €35,271 | -€2,691 | -€37,962 | |
| Financial income | 75/76B | €86 | €202 | +€116 | +134.6% |
| Recurring financial income | 75 | €86 | €202 | +€116 | +134.6% |
| Financial charges | 65/66B | €3,937 | €2,036 | -€1,901 | -48.3% |
| Recurring financial charges | 65 | €3,937 | €2,036 | -€1,901 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €31,420 | -€4,524 | -€35,945 | |
| Income taxes | 67/77 | €9,240 | €1,387 | -€7,853 | -85.0% |
| Profit (loss) for the period | 9904 | €22,180 | -€5,912 | -€28,092 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,180 | -€5,912 | -€28,092 |
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 12 October 2026 via checked.be.