E.S. SYSTEMS: what changed
E.S. SYSTEMS
Largest movements
- Stocks and contracts +€227,341
up €227,341 (+182%), from €124,576 to €351,917
- Tangible fixed assets +€86,105
up €86,105 (+3.9%), from €2.2m to €2.3m
of which Assets under construction and advance payments: +€73,242
- Cash -€68,092
down €68,092 (-11.3%), from €605,250 to €537,157
mainly Stocks and contracts (-€227,341) and Contributions, distributions and other (-€203,399)
- Receivables within one year +€43,036
up €43,036 (+16.4%), from €262,259 to €305,295
of which Trade receivables: +€31,303
- Other debts +€195,047
up €195,047 (+109%), from €178,587 to €373,634
- Reserves +€98,807
up €98,807 (+9.5%), from €1.0m to €1.1m
of which Distributable reserves: +€98,807
- Current portion of long-term debt +€85,817
up €85,817 (+60.5%), from €141,879 to €227,696
- Tax, wage and social debts -€71,237
down €71,237 (-52.5%), from €135,724 to €64,486
of which Taxes: -€80,176
- Debts after one year -€49,804
down €49,804 (-3.0%), from €1.7m to €1.6m
- Gross operating margin +€222,071
up €222,071 (+41.1%), from €540,186 to €762,258
- Staff costs +€114,925
up €114,925 (+83.6%), from €137,409 to €252,334
- Taxes +€38,839
up €38,839 (+39.1%), from €99,428 to €138,267
- Depreciation -€20,946
down €20,946 (-41.8%), from €50,157 to €29,210
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,233,046 | €3,529,913 | +€296,867 | +9.2% |
| Fixed assets | 21/28 | €2,236,855 | €2,323,360 | +€86,505 | +3.9% |
| Tangible fixed assets | 22/27 | €2,236,055 | €2,322,160 | +€86,105 | +3.9% |
| Land and buildings | 22 | €640,082 | €642,687 | +€2,605 | +0.4% |
| Plant, machinery and equipment | 23 | €13,161 | €19,161 | +€6,001 | +45.6% |
| Furniture and vehicles | 24 | €57,001 | €61,258 | +€4,257 | +7.5% |
| Assets under construction and advance payments | 27 | €1,525,811 | €1,599,054 | +€73,242 | +4.8% |
| Financial fixed assets | 28 | €800 | €1,200 | +€400 | +50.0% |
| Current assets | 29/58 | €996,191 | €1,206,553 | +€210,362 | +21.1% |
| Stocks and contracts in progress | 3 | €124,576 | €351,917 | +€227,341 | +182% |
| Stocks | 30/36 | €124,576 | €351,917 | +€227,341 | +182% |
| Amounts receivable within one year | 40/41 | €262,259 | €305,295 | +€43,036 | +16.4% |
| Trade receivables | 40 | €161,687 | €192,990 | +€31,303 | +19.4% |
| Other amounts receivable | 41 | €100,572 | €112,305 | +€11,733 | +11.7% |
| Cash at bank and in hand | 54/58 | €605,250 | €537,157 | -€68,092 | -11.3% |
| Deferred charges and accrued income | 490/1 | €4,107 | €12,184 | +€8,077 | +197% |
| Total equity and liabilities | 10/49 | €3,233,046 | €3,529,913 | +€296,867 | +9.2% |
| Equity | 10/15 | €1,055,013 | €1,153,820 | +€98,807 | +9.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,036,413 | €1,135,220 | +€98,807 | +9.5% |
| 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 | €1,034,553 | €1,133,360 | +€98,807 | +9.6% |
| Amounts payable | 17/49 | €2,178,033 | €2,376,093 | +€198,060 | +9.1% |
| Amounts payable after more than one year | 17 | €1,675,649 | €1,625,846 | -€49,804 | -3.0% |
| Financial debts | 170/4 | €1,675,649 | €1,625,846 | -€49,804 | -3.0% |
| Amounts payable within one year | 42/48 | €502,384 | €750,248 | +€247,864 | +49.3% |
| Current portion of amounts payable after more than one year | 42 | €141,879 | €227,696 | +€85,817 | +60.5% |
| Trade debts | 44 | €46,194 | €84,431 | +€38,237 | +82.8% |
| Suppliers | 440/4 | €46,194 | €84,431 | +€38,237 | +82.8% |
| Taxes, remuneration and social security | 45 | €135,724 | €64,486 | -€71,237 | -52.5% |
| Taxes | 450/3 | €101,570 | €21,394 | -€80,176 | -78.9% |
| Remuneration and social security | 454/9 | €34,153 | €43,092 | +€8,939 | +26.2% |
| Other amounts payable | 47/48 | €178,587 | €373,634 | +€195,047 | +109% |
| Non-recurring operating income | 76A | €5,186 | €1,986 | -€3,200 | -61.7% |
| Remuneration, social security and pensions | 62 | €137,409 | €252,334 | +€114,925 | +83.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,157 | €29,210 | -€20,946 | -41.8% |
| Other operating charges | 640/8 | €2,677 | €1,774 | -€902 | -33.7% |
| Gross operating margin | 9900 | €540,186 | €762,258 | +€222,071 | +41.1% |
| Operating profit (loss) | 9901 | €349,944 | €478,939 | +€128,995 | +36.9% |
| Financial income | 75/76B | €1,480 | €1,899 | +€419 | +28.3% |
| Recurring financial income | 75 | €1,480 | €1,899 | +€419 | +28.3% |
| Financial charges | 65/66B | €34,210 | €40,365 | +€6,155 | +18.0% |
| Recurring financial charges | 65 | €34,210 | €40,365 | +€6,155 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €317,214 | €440,473 | +€123,259 | +38.9% |
| Income taxes | 67/77 | €99,428 | €138,267 | +€38,839 | +39.1% |
| Profit (loss) for the period | 9904 | €217,785 | €302,206 | +€84,421 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €217,785 | €302,206 | +€84,421 | +38.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.