ELECTRO STEVENS: 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.
ELECTRO STEVENS
Largest movements
- Receivables within one year -€329,429
down €329,429 (-44.0%), from €748,133 to €418,704
of which Trade receivables: -€288,318
- Cash +€139,754
up €139,754 (+33.6%), from €415,846 to €555,600
mainly Receivables within one year (+€329,429) and Depreciation (+€225,932)
- Stocks and contracts +€51,623
up €51,623 (+11.2%), from €461,678 to €513,302
- Trade debts -€167,052
down €167,052 (-68.6%), from €243,481 to €76,429
- Debts after one year -€142,610
down €142,610 (-24.8%), from €574,150 to €431,540
- Other debts +€134,062
up €134,062 (+37.4%), from €358,688 to €492,750
- Reserves +€61,823
up €61,823 (+5.0%), from €1.2m to €1.3m
of which Distributable reserves: +€61,823
- Depreciation +€40,742
up €40,742 (+22.0%), from €185,190 to €225,932
- Gross operating margin +€30,598
up €30,598 (+3.4%), from €894,694 to €925,292
- Taxes -€28,229
down €28,229 (-39.1%), from €72,275 to €44,046
- Financial charges +€18,428
up €18,428 (+28.0%), from €65,908 to €84,336
- Staff costs +€17,551
up €17,551 (+4.4%), from €401,239 to €418,790
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 | €2,980,406 | €2,887,416 | -€92,990 | -3.1% |
| Fixed assets | 21/28 | €1,347,184 | €1,375,721 | +€28,538 | +2.1% |
| Intangible fixed assets | 21 | €3,533 | €6,497 | +€2,965 | +83.9% |
| Tangible fixed assets | 22/27 | €557,867 | €583,440 | +€25,573 | +4.6% |
| Plant, machinery and equipment | 23 | €59,081 | €64,881 | +€5,800 | +9.8% |
| Furniture and vehicles | 24 | €317,636 | €275,466 | -€42,170 | -13.3% |
| Leasing and similar rights | 25 | €181,150 | €243,092 | +€61,943 | +34.2% |
| Financial fixed assets | 28 | €785,784 | €785,784 | = | 0.0% |
| Current assets | 29/58 | €1,633,222 | €1,511,694 | -€121,528 | -7.4% |
| Stocks and contracts in progress | 3 | €461,678 | €513,302 | +€51,623 | +11.2% |
| Stocks | 30/36 | €461,678 | €513,302 | +€51,623 | +11.2% |
| Amounts receivable within one year | 40/41 | €748,133 | €418,704 | -€329,429 | -44.0% |
| Trade receivables | 40 | €656,847 | €368,529 | -€288,318 | -43.9% |
| Other amounts receivable | 41 | €91,286 | €50,175 | -€41,111 | -45.0% |
| Cash at bank and in hand | 54/58 | €415,846 | €555,600 | +€139,754 | +33.6% |
| Deferred charges and accrued income | 490/1 | €7,565 | €24,088 | +€16,524 | +218.4% |
| Total equity and liabilities | 10/49 | €2,980,406 | €2,887,416 | -€92,990 | -3.1% |
| Equity | 10/15 | €1,453,730 | €1,515,659 | +€61,929 | +4.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,241,656 | €1,303,479 | +€61,823 | +5.0% |
| Tax-exempt reserves | 132 | €80,024 | €80,024 | = | 0.0% |
| Distributable reserves | 133 | €1,161,632 | €1,223,455 | +€61,823 | +5.3% |
| Profit (loss) carried forward | 14 | €8,691 | €9,997 | +€1,306 | +15.0% |
| Investment grants | 15 | €3,382 | €2,182 | -€1,200 | -35.5% |
| Amounts payable | 17/49 | €1,526,676 | €1,371,757 | -€154,920 | -10.1% |
| Amounts payable after more than one year | 17 | €574,150 | €431,540 | -€142,610 | -24.8% |
| Financial debts | 170/4 | €574,150 | €431,540 | -€142,610 | -24.8% |
| Amounts payable within one year | 42/48 | €951,504 | €937,434 | -€14,070 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €262,027 | €270,814 | +€8,787 | +3.4% |
| Financial debts | 43 | €10,002 | €9,541 | -€461 | -4.6% |
| Credit institutions | 430/8 | €10,002 | €9,541 | -€461 | -4.6% |
| Trade debts | 44 | €243,481 | €76,429 | -€167,052 | -68.6% |
| Suppliers | 440/4 | €243,481 | €76,429 | -€167,052 | -68.6% |
| Taxes, remuneration and social security | 45 | €77,306 | €87,900 | +€10,594 | +13.7% |
| Taxes | 450/3 | €32,540 | €26,915 | -€5,625 | -17.3% |
| Remuneration and social security | 454/9 | €44,766 | €60,985 | +€16,219 | +36.2% |
| Other amounts payable | 47/48 | €358,688 | €492,750 | +€134,062 | +37.4% |
| Accrued charges and deferred income | 492/3 | €1,022 | €2,782 | +€1,760 | +172.3% |
| Non-recurring operating income | 76A | €0 | €5,785 | +€5,785 | |
| Remuneration, social security and pensions | 62 | €401,239 | €418,790 | +€17,551 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,190 | €225,932 | +€40,742 | +22.0% |
| Other operating charges | 640/8 | €8,372 | €9,290 | +€918 | +11.0% |
| Non-recurring operating charges | 66A | €33,303 | €0 | -€33,303 | -100.0% |
| Gross operating margin | 9900 | €894,694 | €925,292 | +€30,598 | +3.4% |
| Operating profit (loss) | 9901 | €266,591 | €271,281 | +€4,689 | +1.8% |
| Financial income | 75/76B | €11,726 | €8,408 | -€3,318 | -28.3% |
| Recurring financial income | 75 | €11,726 | €8,408 | -€3,318 | -28.3% |
| Financial charges | 65/66B | €65,908 | €84,336 | +€18,428 | +28.0% |
| Recurring financial charges | 65 | €65,908 | €84,336 | +€18,428 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | €212,410 | €195,352 | -€17,057 | -8.0% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €72,275 | €44,046 | -€28,229 | -39.1% |
| Profit (loss) for the period | 9904 | €140,135 | €151,306 | +€11,172 | +8.0% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €140,135 | €151,306 | +€11,172 | +8.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.