ES GROUP: 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 GROUP
Largest movements
- Stocks and contracts -€24,215
down €24,215 (-47.4%), from €51,103 to €26,888
- Receivables within one year -€21,064
down €21,064 (-15.7%), from €134,211 to €113,147
of which Trade receivables: -€52,431
- Tangible fixed assets -€10,230
down €10,230 (-12.1%), from €84,713 to €74,483
of which Furniture and vehicles: -€7,285
- Other debts -€30,753
no longer reported in 2025 (was €30,753)
- Current portion of long-term debt -€15,133
down €15,133 (-65.2%), from €23,200 to €8,067
- Trade debts -€9,683
down €9,683 (-8.5%), from €113,999 to €104,316
- Debts after one year -€6,047
no longer reported in 2025 (was €6,047)
- Tax, wage and social debts +€4,875
up €4,875 (+264%), from €1,845 to €6,719
- Gross operating margin -€7,017
down €7,017 (-24.9%), from €28,178 to €21,161
- Write-downs +€5,230
new in 2025: €5,230
- Depreciation -€5,088
down €5,088 (-37.9%), from €13,428 to €8,339
- Financial charges +€4,611
up €4,611 (+215%), from €2,141 to €6,752
- Taxes -€3,496
down €3,496 (-64.0%), from €5,466 to €1,969
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 | €270,387 | €215,185 | -€55,202 | -20.4% |
| Fixed assets | 21/28 | €85,073 | €74,843 | -€10,230 | -12.0% |
| Tangible fixed assets | 22/27 | €84,713 | €74,483 | -€10,230 | -12.1% |
| Land and buildings | 22 | €63,000 | €60,667 | -€2,333 | -3.7% |
| Plant, machinery and equipment | 23 | €4,210 | €3,598 | -€612 | -14.5% |
| Furniture and vehicles | 24 | €17,503 | €10,218 | -€7,285 | -41.6% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €185,314 | €140,342 | -€44,972 | -24.3% |
| Stocks and contracts in progress | 3 | €51,103 | €26,888 | -€24,215 | -47.4% |
| Stocks | 30/36 | €51,103 | €26,888 | -€24,215 | -47.4% |
| Amounts receivable within one year | 40/41 | €134,211 | €113,147 | -€21,064 | -15.7% |
| Trade receivables | 40 | €122,837 | €70,406 | -€52,431 | -42.7% |
| Other amounts receivable | 41 | €11,374 | €42,741 | +€31,367 | +276% |
| Cash at bank and in hand | 54/58 | €0 | €307 | +€307 | |
| Total equity and liabilities | 10/49 | €270,387 | €215,185 | -€55,202 | -20.4% |
| Equity | 10/15 | €94,544 | €96,082 | +€1,538 | +1.6% |
| Contributions | 10/11 | €30,050 | €30,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,494 | €66,032 | +€1,538 | +2.4% |
| Amounts payable | 17/49 | €175,843 | €119,102 | -€56,741 | -32.3% |
| Amounts payable after more than one year | 17 | €6,047 | - | -€6,047 | |
| Financial debts | 170/4 | €6,047 | - | -€6,047 | |
| Amounts payable within one year | 42/48 | €169,796 | €119,102 | -€50,694 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €23,200 | €8,067 | -€15,133 | -65.2% |
| Trade debts | 44 | €113,999 | €104,316 | -€9,683 | -8.5% |
| Suppliers | 440/4 | €113,999 | €104,316 | -€9,683 | -8.5% |
| Taxes, remuneration and social security | 45 | €1,845 | €6,719 | +€4,875 | +264% |
| Taxes | 450/3 | €1,845 | €6,719 | +€4,875 | +264% |
| Other amounts payable | 47/48 | €30,753 | - | -€30,753 | |
| Non-recurring operating income | 76A | €11,084 | - | -€11,084 | |
| Remuneration, social security and pensions | 62 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,428 | €8,339 | -€5,088 | -37.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,230 | +€5,230 | |
| Other operating charges | 640/8 | €2,280 | €0 | -€2,280 | -100% |
| Non-recurring operating charges | 66A | €470 | - | -€470 | |
| Gross operating margin | 9900 | €28,178 | €21,161 | -€7,017 | -24.9% |
| Operating profit (loss) | 9901 | €9,001 | €7,592 | -€1,409 | -15.7% |
| Financial income | 75/76B | €2 | €2,668 | +€2,667 | +170,946% |
| Recurring financial income | 75 | €2 | €2,668 | +€2,667 | +170,946% |
| Financial charges | 65/66B | €2,141 | €6,752 | +€4,611 | +215% |
| Recurring financial charges | 65 | €2,141 | €6,752 | +€4,611 | +215% |
| Profit (loss) for the period before taxes | 9903 | €6,861 | €3,508 | -€3,353 | -48.9% |
| Income taxes | 67/77 | €5,466 | €1,969 | -€3,496 | -64.0% |
| Profit (loss) for the period | 9904 | €1,395 | €1,538 | +€143 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,395 | €1,538 | +€143 | +10.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.