ES EUROPA: what changed
Two financial 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.
ES EUROPA
Largest movements
- Receivables within one year -€5,315
down €5,315 (-20.3%), from €26,123 to €20,808
of which Trade receivables: -€5,195
- Deferred charges and accrued income -€2,549
no longer reported in 2025 (was €2,549)
- Cash -€1,245
down €1,245 (-18.9%), from €6,598 to €5,352
mainly Net result for the year (-€14,138) and Tax, wage and social debts (-€2,850)
- Profit (loss) carried forward -€14,138
down €14,138 (-9.1%), from -€156,132 to -€170,270
- Other debts +€7,500
up €7,500 (+4.5%), from €167,130 to €174,630
- Tax, wage and social debts -€2,850
no longer reported in 2025 (was €2,850)
- Gross operating margin -€2,968
down €2,968 (-30.9%), from -€9,613 to -€12,581
- Other operating charges -€936
down €936 (-42.5%), from €2,203 to €1,267
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.
Derived cash bridge
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 | €36,377 | €27,243 | -€9,134 | -25.1% |
| Fixed assets | 21/28 | €1,108 | €1,083 | -€25 | -2.3% |
| Tangible fixed assets | 22/27 | €175 | €150 | -€25 | -14.3% |
| Furniture and vehicles | 24 | €175 | €150 | -€25 | -14.3% |
| Financial fixed assets | 28 | €933 | €933 | = | 0.0% |
| Current assets | 29/58 | €35,269 | €26,160 | -€9,109 | -25.8% |
| Amounts receivable within one year | 40/41 | €26,123 | €20,808 | -€5,315 | -20.3% |
| Trade receivables | 40 | €24,701 | €19,506 | -€5,195 | -21.0% |
| Other amounts receivable | 41 | €1,421 | €1,301 | -€120 | -8.4% |
| Cash at bank and in hand | 54/58 | €6,598 | €5,352 | -€1,245 | -18.9% |
| Deferred charges and accrued income | 490/1 | €2,549 | - | -€2,549 | |
| Total equity and liabilities | 10/49 | €36,377 | €27,243 | -€9,134 | -25.1% |
| Equity | 10/15 | -€135,232 | -€149,370 | -€14,138 | -10.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€156,132 | -€170,270 | -€14,138 | -9.1% |
| Amounts payable | 17/49 | €171,609 | €176,613 | +€5,004 | +2.9% |
| Amounts payable within one year | 42/48 | €171,609 | €176,613 | +€5,004 | +2.9% |
| Trade debts | 44 | €1,629 | €1,982 | +€354 | +21.7% |
| Suppliers | 440/4 | €1,629 | €1,982 | +€354 | +21.7% |
| Taxes, remuneration and social security | 45 | €2,850 | - | -€2,850 | |
| Remuneration and social security | 454/9 | €2,850 | - | -€2,850 | |
| Other amounts payable | 47/48 | €167,130 | €174,630 | +€7,500 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25 | €25 | = | 0.0% |
| Other operating charges | 640/8 | €2,203 | €1,267 | -€936 | -42.5% |
| Gross operating margin | 9900 | -€9,613 | -€12,581 | -€2,968 | -30.9% |
| Operating profit (loss) | 9901 | -€11,841 | -€13,873 | -€2,032 | -17.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €265 | €265 | +€1 | +0.2% |
| Recurring financial charges | 65 | €265 | €265 | +€1 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,106 | -€14,138 | -€2,033 | -16.8% |
| Profit (loss) for the period | 9904 | -€12,106 | -€14,138 | -€2,033 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,106 | -€14,138 | -€2,033 | -16.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.