ES-Projects: 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-Projects
Largest movements
- Tangible fixed assets -€3,425
down €3,425 (-66.7%), from €5,137 to €1,712
of which Furniture and vehicles: -€1,875
- Cash -€2,176
down €2,176 (-99.7%), from €2,183 to €6
mainly Net result for the year (-€6,220) and Other debts (-€2,258)
- Receivables within one year -€1,260
down €1,260 (-3.9%), from €32,250 to €30,990
of which Trade receivables: -€1,200
- Profit (loss) carried forward -€6,220
down €6,220 (-18.1%), from €34,342 to €28,121
- Other debts -€2,258
down €2,258 (-13.6%), from €16,557 to €14,299
- Trade debts +€1,406
up €1,406 (+8.2%), from €17,143 to €18,549
- Gross operating margin -€18,360
down €18,360, from €16,127 to -€2,233
- Depreciation -€3,796
down €3,796 (-52.6%), from €7,221 to €3,425
- Taxes -€1,367
no longer reported in 2025 (was €1,367)
- Financial charges -€706
down €706 (-70.1%), from €1,006 to €301
- Staff costs -€203
no longer reported in 2025 (was €203)
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 | €100,993 | €93,921 | -€7,072 | -7.0% |
| Fixed assets | 21/28 | €66,349 | €62,924 | -€3,425 | -5.2% |
| Tangible fixed assets | 22/27 | €5,137 | €1,712 | -€3,425 | -66.7% |
| Plant, machinery and equipment | 23 | €3,262 | €1,712 | -€1,550 | -47.5% |
| Furniture and vehicles | 24 | €1,875 | - | -€1,875 | |
| Financial fixed assets | 28 | €61,212 | €61,212 | = | 0.0% |
| Current assets | 29/58 | €34,644 | €30,996 | -€3,647 | -10.5% |
| Amounts receivable within one year | 40/41 | €32,250 | €30,990 | -€1,260 | -3.9% |
| Trade receivables | 40 | €32,018 | €30,818 | -€1,200 | -3.7% |
| Other amounts receivable | 41 | €232 | €172 | -€60 | -25.9% |
| Cash at bank and in hand | 54/58 | €2,183 | €6 | -€2,176 | -99.7% |
| Deferred charges and accrued income | 490/1 | €211 | - | -€211 | |
| Total equity and liabilities | 10/49 | €100,993 | €93,921 | -€7,072 | -7.0% |
| Equity | 10/15 | €52,975 | €46,755 | -€6,220 | -11.7% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €633 | €633 | = | 0.0% |
| Non-distributable reserves | 130/1 | €633 | €633 | = | 0.0% |
| Reserves not available under the articles | 1311 | €633 | €633 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,342 | €28,121 | -€6,220 | -18.1% |
| Amounts payable | 17/49 | €48,018 | €47,166 | -€852 | -1.8% |
| Amounts payable after more than one year | 17 | €12,950 | €12,950 | = | 0.0% |
| Financial debts | 170/4 | €12,950 | €12,950 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,068 | €34,216 | -€852 | -2.4% |
| Trade debts | 44 | €17,143 | €18,549 | +€1,406 | +8.2% |
| Suppliers | 440/4 | €17,143 | €18,549 | +€1,406 | +8.2% |
| Taxes, remuneration and social security | 45 | €1,367 | €1,367 | = | 0.0% |
| Taxes | 450/3 | €1,367 | €1,367 | = | 0.0% |
| Other amounts payable | 47/48 | €16,557 | €14,299 | -€2,258 | -13.6% |
| Remuneration, social security and pensions | 62 | €203 | - | -€203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,221 | €3,425 | -€3,796 | -52.6% |
| Other operating charges | 640/8 | €62 | €262 | +€200 | +322.6% |
| Gross operating margin | 9900 | €16,127 | -€2,233 | -€18,360 | |
| Operating profit (loss) | 9901 | €8,641 | -€5,920 | -€14,560 | |
| Financial charges | 65/66B | €1,006 | €301 | -€706 | -70.1% |
| Recurring financial charges | 65 | €1,006 | €301 | -€706 | -70.1% |
| Profit (loss) for the period before taxes | 9903 | €7,634 | -€6,220 | -€13,854 | |
| Income taxes | 67/77 | €1,367 | - | -€1,367 | |
| Profit (loss) for the period | 9904 | €6,267 | -€6,220 | -€12,487 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,267 | -€6,220 | -€12,487 |
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 10 October 2026 via checked.be.