Electrosan: 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.
Electrosan
Largest movements
- Tangible fixed assets -€199,949
down €199,949 (-24.9%), from €802,095 to €602,146
of which Land and buildings: -€165,331
- Cash +€167,882
up €167,882 (+125.4%), from €133,825 to €301,707
mainly Net result for the year (+€167,956) and Investment in fixed assets (net) (+€110,252)
- Receivables within one year +€68,799
up €68,799 (+72.6%), from €94,819 to €163,618
of which Trade receivables: +€69,855
- Stocks and contracts -€59,296
down €59,296 (-42.2%), from €140,373 to €81,078
of which Stocks: -€92,528
- Debts after one year -€127,959
down €127,959 (-36.3%), from €352,069 to €224,110
- Trade debts -€62,746
down €62,746 (-74.3%), from €84,424 to €21,678
- Tax, wage and social debts +€57,980
up €57,980 (+897.8%), from €6,458 to €64,438
of which Taxes: +€58,305
- Provisions +€45,088
new in 2026: €45,088
- Reserves +€40,393
up €40,393 (+6.9%), from €584,520 to €624,913
of which Distributable reserves: +€101,125
- Gross operating margin +€247,550
up €247,550 (+134.2%), from €184,449 to €431,999
- Taxes +€73,802
up €73,802 (+715.3%), from €10,318 to €84,120
- Staff costs +€26,418
up €26,418 (+62.0%), from €42,622 to €69,040
- Depreciation -€24,129
down €24,129 (-21.2%), from €113,827 to €89,698
- Financial charges +€8,753
up €8,753 (+97.5%), from €8,977 to €17,730
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,182,064 | €1,148,548 | -€33,516 | -2.8% |
| Fixed assets | 21/28 | €802,095 | €602,146 | -€199,949 | -24.9% |
| Tangible fixed assets | 22/27 | €802,095 | €602,146 | -€199,949 | -24.9% |
| Land and buildings | 22 | €699,230 | €533,899 | -€165,331 | -23.6% |
| Plant, machinery and equipment | 23 | €9,422 | €8,602 | -€820 | -8.7% |
| Furniture and vehicles | 24 | €93,443 | €59,645 | -€33,798 | -36.2% |
| Current assets | 29/58 | €379,969 | €546,403 | +€166,434 | +43.8% |
| Stocks and contracts in progress | 3 | €140,373 | €81,078 | -€59,296 | -42.2% |
| Stocks | 30/36 | €140,373 | €47,845 | -€92,528 | -65.9% |
| Contracts in progress | 37 | - | €33,233 | +€33,233 | |
| Amounts receivable within one year | 40/41 | €94,819 | €163,618 | +€68,799 | +72.6% |
| Trade receivables | 40 | €53,123 | €122,978 | +€69,855 | +131.5% |
| Other amounts receivable | 41 | €41,696 | €40,640 | -€1,056 | -2.5% |
| Cash at bank and in hand | 54/58 | €133,825 | €301,707 | +€167,882 | +125.4% |
| Deferred charges and accrued income | 490/1 | €10,952 | €0 | -€10,952 | -100.0% |
| Total equity and liabilities | 10/49 | €1,182,064 | €1,148,548 | -€33,516 | -2.8% |
| Equity | 10/15 | €603,120 | €643,513 | +€40,393 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €584,520 | €624,913 | +€40,393 | +6.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €195,996 | €135,264 | -€60,732 | -31.0% |
| Distributable reserves | 133 | €386,664 | €487,789 | +€101,125 | +26.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €45,088 | +€45,088 | |
| Deferred taxes | 168 | - | €45,088 | +€45,088 | |
| Amounts payable | 17/49 | €578,944 | €459,947 | -€118,997 | -20.6% |
| Amounts payable after more than one year | 17 | €352,069 | €224,110 | -€127,959 | -36.3% |
| Financial debts | 170/4 | €352,069 | €224,110 | -€127,959 | -36.3% |
| Amounts payable within one year | 42/48 | €226,875 | €235,837 | +€8,962 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €81,218 | €57,753 | -€23,465 | -28.9% |
| Financial debts | 43 | - | €8,404 | +€8,404 | |
| Other loans | 439 | - | €8,404 | +€8,404 | |
| Trade debts | 44 | €84,424 | €21,678 | -€62,746 | -74.3% |
| Suppliers | 440/4 | €84,424 | €21,678 | -€62,746 | -74.3% |
| Advances received on contracts in progress | 46 | - | €5,000 | +€5,000 | |
| Taxes, remuneration and social security | 45 | €6,458 | €64,438 | +€57,980 | +897.8% |
| Taxes | 450/3 | €3,963 | €62,268 | +€58,305 | +1471.2% |
| Remuneration and social security | 454/9 | €2,495 | €2,169 | -€326 | -13.1% |
| Other amounts payable | 47/48 | €54,775 | €78,565 | +€23,790 | +43.4% |
| Non-recurring operating income | 76A | - | €89,485 | +€89,485 | |
| Remuneration, social security and pensions | 62 | €42,622 | €69,040 | +€26,418 | +62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,827 | €89,698 | -€24,129 | -21.2% |
| Other operating charges | 640/8 | - | €8,614 | +€8,614 | |
| Gross operating margin | 9900 | €184,449 | €431,999 | +€247,550 | +134.2% |
| Operating profit (loss) | 9901 | €28,000 | €264,647 | +€236,647 | +845.2% |
| Financial income | 75/76B | €61 | €1,247 | +€1,186 | +1945.0% |
| Recurring financial income | 75 | €61 | €1,247 | +€1,186 | +1945.0% |
| Financial charges | 65/66B | €8,977 | €17,730 | +€8,753 | +97.5% |
| Recurring financial charges | 65 | €8,977 | €17,730 | +€8,753 | +97.5% |
| Profit (loss) for the period before taxes | 9903 | €19,084 | €248,165 | +€229,081 | +1200.4% |
| Transfer from deferred taxes | 780 | - | €3,911 | +€3,911 | |
| Income taxes | 67/77 | €10,318 | €84,120 | +€73,802 | +715.3% |
| Profit (loss) for the period | 9904 | €8,766 | €167,956 | +€159,190 | +1816.0% |
| Transfer from tax-exempt reserves | 789 | €15,651 | €11,732 | -€3,919 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,417 | €179,689 | +€155,272 | +635.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.