E-SD: what changed
Two fiscal 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-SD
Largest movements
- Receivables within one year -€28,336
down €28,336 (-81.4%), from €34,817 to €6,481
of which Trade receivables: -€28,353
- Cash +€27,614
up €27,614 (+142.7%), from €19,355 to €46,969
mainly Receivables within one year (+€28,336) and Depreciation (+€17,911)
- Tangible fixed assets -€9,527
down €9,527 (-42.2%), from €22,575 to €13,048
of which Furniture and vehicles: -€8,404
- Stocks and contracts +€4,180
up €4,180 (+56.6%), from €7,381 to €11,560
- Debts after one year -€12,500
down €12,500 (-50.0%), from €25,000 to €12,500
- Reserves +€9,864
up €9,864 (+48.9%), from €20,172 to €30,036
of which Distributable reserves: +€9,864
- Tax, wage and social debts -€5,004
down €5,004 (-36.6%), from €13,677 to €8,672
- Accrued charges and deferred income +€1,919
up €1,919, from €0 to €1,919
- Gross operating margin -€2,909
down €2,909 (-7.8%), from €37,169 to €34,259
- Taxes +€800
up €800 (+17.8%), from €4,508 to €5,308
- Depreciation +€720
up €720 (+4.2%), from €17,191 to €17,911
- Financial charges -€540
down €540 (-40.6%), from €1,329 to €789
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 | €84,808 | €78,889 | -€5,919 | -7.0% |
| Fixed assets | 21/28 | €22,575 | €13,048 | -€9,527 | -42.2% |
| Tangible fixed assets | 22/27 | €22,575 | €13,048 | -€9,527 | -42.2% |
| Plant, machinery and equipment | 23 | €1,499 | €376 | -€1,124 | -75.0% |
| Furniture and vehicles | 24 | €21,076 | €12,672 | -€8,404 | -39.9% |
| Current assets | 29/58 | €62,232 | €65,841 | +€3,609 | +5.8% |
| Stocks and contracts in progress | 3 | €7,381 | €11,560 | +€4,180 | +56.6% |
| Stocks | 30/36 | €7,381 | €11,560 | +€4,180 | +56.6% |
| Amounts receivable within one year | 40/41 | €34,817 | €6,481 | -€28,336 | -81.4% |
| Trade receivables | 40 | €34,794 | €6,441 | -€28,353 | -81.5% |
| Other amounts receivable | 41 | €23 | €39 | +€17 | +72.5% |
| Cash at bank and in hand | 54/58 | €19,355 | €46,969 | +€27,614 | +142.7% |
| Deferred charges and accrued income | 490/1 | €680 | €831 | +€152 | +22.3% |
| Total equity and liabilities | 10/49 | €84,808 | €78,889 | -€5,919 | -7.0% |
| Equity | 10/15 | €32,572 | €42,436 | +€9,864 | +30.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €20,172 | €30,036 | +€9,864 | +48.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €20,172 | €30,036 | +€9,864 | +48.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €52,236 | €36,453 | -€15,783 | -30.2% |
| Amounts payable after more than one year | 17 | €25,000 | €12,500 | -€12,500 | -50.0% |
| Financial debts | 170/4 | €25,000 | €12,500 | -€12,500 | -50.0% |
| Amounts payable within one year | 42/48 | €27,236 | €22,034 | -€5,202 | -19.1% |
| Financial debts | 43 | €1,229 | €729 | -€500 | -40.7% |
| Credit institutions | 430/8 | €1,229 | €729 | -€500 | -40.7% |
| Trade debts | 44 | €3,721 | €3,447 | -€274 | -7.4% |
| Suppliers | 440/4 | €3,721 | €3,447 | -€274 | -7.4% |
| Taxes, remuneration and social security | 45 | €13,677 | €8,672 | -€5,004 | -36.6% |
| Taxes | 450/3 | €13,677 | €8,672 | -€5,004 | -36.6% |
| Other amounts payable | 47/48 | €8,609 | €9,185 | +€576 | +6.7% |
| Accrued charges and deferred income | 492/3 | €0 | €1,919 | +€1,919 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,191 | €17,911 | +€720 | +4.2% |
| Other operating charges | 640/8 | €434 | €387 | -€47 | -10.8% |
| Gross operating margin | 9900 | €37,169 | €34,259 | -€2,909 | -7.8% |
| Operating profit (loss) | 9901 | €19,543 | €15,961 | -€3,582 | -18.3% |
| Financial income | 75/76B | €7 | €1 | -€6 | -92.1% |
| Recurring financial income | 75 | €7 | €1 | -€6 | -92.1% |
| Financial charges | 65/66B | €1,329 | €789 | -€540 | -40.6% |
| Recurring financial charges | 65 | €1,329 | €789 | -€540 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €18,221 | €15,172 | -€3,049 | -16.7% |
| Income taxes | 67/77 | €4,508 | €5,308 | +€800 | +17.8% |
| Profit (loss) for the period | 9904 | €13,713 | €9,864 | -€3,849 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,713 | €9,864 | -€3,849 | -28.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.