E-SOL: 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-SOL
Largest movements
- Receivables within one year +€118,079
up €118,079 (+87.6%), from €134,741 to €252,820
of which Trade receivables: +€111,441
- Stocks and contracts -€24,131
down €24,131 (-18.9%), from €127,746 to €103,615
- Cash -€18,892
down €18,892 (-31.2%), from €60,463 to €41,571
mainly Receivables within one year (-€118,079) and Tax, wage and social debts (-€41,249)
- Tangible fixed assets -€8,149
down €8,149 (-38.3%), from €21,259 to €13,110
of which Plant, machinery and equipment: -€5,407
- Trade debts +€59,238
up €59,238 (+1090.0%), from €5,435 to €64,673
- Profit (loss) carried forward +€52,952
up €52,952 (+23.1%), from €228,936 to €281,888
- Tax, wage and social debts -€41,249
down €41,249 (-86.8%), from €47,539 to €6,290
of which Taxes: -€37,937
- Current portion of long-term debt -€8,114
down €8,114 (-100.0%), from €8,114 to €0
- Gross operating margin +€66,944
up €66,944 (+42.4%), from €157,845 to €224,789
- Taxes +€12,230
up €12,230 (+841.5%), from €1,453 to €13,683
- Staff costs +€6,099
up €6,099 (+4.4%), from €137,598 to €143,698
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 | €350,625 | €416,087 | +€65,463 | +18.7% |
| Formation expenses | 20 | €243 | €0 | -€243 | -100.0% |
| Fixed assets | 21/28 | €21,994 | €13,324 | -€8,669 | -39.4% |
| Intangible fixed assets | 21 | €735 | €215 | -€520 | -70.8% |
| Tangible fixed assets | 22/27 | €21,259 | €13,110 | -€8,149 | -38.3% |
| Plant, machinery and equipment | 23 | €15,825 | €10,417 | -€5,407 | -34.2% |
| Furniture and vehicles | 24 | €5,435 | €2,693 | -€2,742 | -50.5% |
| Current assets | 29/58 | €328,388 | €402,763 | +€74,375 | +22.6% |
| Stocks and contracts in progress | 3 | €127,746 | €103,615 | -€24,131 | -18.9% |
| Stocks | 30/36 | €127,746 | €103,615 | -€24,131 | -18.9% |
| Amounts receivable within one year | 40/41 | €134,741 | €252,820 | +€118,079 | +87.6% |
| Trade receivables | 40 | €99,315 | €210,756 | +€111,441 | +112.2% |
| Other amounts receivable | 41 | €35,426 | €42,064 | +€6,639 | +18.7% |
| Cash at bank and in hand | 54/58 | €60,463 | €41,571 | -€18,892 | -31.2% |
| Deferred charges and accrued income | 490/1 | €5,438 | €4,757 | -€681 | -12.5% |
| Total equity and liabilities | 10/49 | €350,625 | €416,087 | +€65,463 | +18.7% |
| Equity | 10/15 | €288,936 | €341,888 | +€52,952 | +18.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,936 | €281,888 | +€52,952 | +23.1% |
| Amounts payable | 17/49 | €61,689 | €74,199 | +€12,510 | +20.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €61,689 | €71,531 | +€9,842 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €8,114 | €0 | -€8,114 | -100.0% |
| Trade debts | 44 | €5,435 | €64,673 | +€59,238 | +1090.0% |
| Suppliers | 440/4 | €5,435 | €64,673 | +€59,238 | +1090.0% |
| Taxes, remuneration and social security | 45 | €47,539 | €6,290 | -€41,249 | -86.8% |
| Taxes | 450/3 | €40,367 | €2,430 | -€37,937 | -94.0% |
| Remuneration and social security | 454/9 | €7,173 | €3,860 | -€3,312 | -46.2% |
| Other amounts payable | 47/48 | €601 | €569 | -€33 | -5.5% |
| Accrued charges and deferred income | 492/3 | - | €2,668 | +€2,668 | |
| Remuneration, social security and pensions | 62 | €137,598 | €143,698 | +€6,099 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,167 | €8,912 | -€255 | -2.8% |
| Other operating charges | 640/8 | €802 | €1,188 | +€387 | +48.2% |
| Gross operating margin | 9900 | €157,845 | €224,789 | +€66,944 | +42.4% |
| Operating profit (loss) | 9901 | €10,277 | €70,991 | +€60,714 | +590.8% |
| Financial income | 75/76B | €1,092 | €205 | -€887 | -81.2% |
| Recurring financial income | 75 | €1,092 | €205 | -€887 | -81.2% |
| Financial charges | 65/66B | €5,730 | €4,561 | -€1,169 | -20.4% |
| Recurring financial charges | 65 | €5,730 | €4,561 | -€1,169 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €5,639 | €66,635 | +€60,996 | +1081.6% |
| Income taxes | 67/77 | €1,453 | €13,683 | +€12,230 | +841.5% |
| Profit (loss) for the period | 9904 | €4,186 | €52,952 | +€48,767 | +1165.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,186 | €52,952 | +€48,767 | +1165.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.