ES Vastgoed: 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 Vastgoed
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+754%), from €170,715 to €1.5m
- Cash +€37,613
up €37,613 (+1,176%), from €3,197 to €40,811
mainly Contributions, distributions and other (+€681,210) and Other debts (+€656,379)
- Contributions +€681,210
up €681,210 (+10,987%), from €6,200 to €687,410
- Other debts +€656,379
up €656,379 (+135%), from €487,514 to €1.1m
- Gross operating margin -€7,447
down €7,447 (-10.3%), from €72,312 to €64,866
- Other operating charges +€2,064
up €2,064 (+43.0%), from €4,805 to €6,869
- Depreciation +€1,617
up €1,617 (+2.4%), from €67,314 to €68,931
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 | €174,888 | €1,499,968 | +€1.3m | +758% |
| Fixed assets | 21/28 | €170,715 | €1,457,372 | +€1.3m | +754% |
| Tangible fixed assets | 22/27 | €170,715 | €1,457,372 | +€1.3m | +754% |
| Land and buildings | 22 | €170,715 | €1,457,372 | +€1.3m | +754% |
| Current assets | 29/58 | €4,173 | €42,596 | +€38,422 | +921% |
| Amounts receivable within one year | 40/41 | - | €864 | +€864 | |
| Trade receivables | 40 | - | €864 | +€864 | |
| Cash at bank and in hand | 54/58 | €3,197 | €40,811 | +€37,613 | +1,176% |
| Deferred charges and accrued income | 490/1 | €976 | €921 | -€55 | -5.7% |
| Total equity and liabilities | 10/49 | €174,888 | €1,499,968 | +€1.3m | +758% |
| Equity | 10/15 | -€314,806 | €355,385 | +€670,191 | |
| Contributions | 10/11 | €6,200 | €687,410 | +€681,210 | +10,987% |
| Profit (loss) carried forward | 14 | -€321,006 | -€332,025 | -€11,019 | -3.4% |
| Amounts payable | 17/49 | €489,694 | €1,144,583 | +€654,889 | +134% |
| Amounts payable within one year | 42/48 | €489,244 | €1,144,133 | +€654,889 | +134% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €810 | €240 | -€570 | -70.4% |
| Suppliers | 440/4 | €810 | €240 | -€570 | -70.4% |
| Advances received on contracts in progress | 46 | €920 | €0 | -€920 | -100% |
| Other amounts payable | 47/48 | €487,514 | €1,143,893 | +€656,379 | +135% |
| Accrued charges and deferred income | 492/3 | €450 | €450 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,314 | €68,931 | +€1,617 | +2.4% |
| Other operating charges | 640/8 | €4,805 | €6,869 | +€2,064 | +43.0% |
| Gross operating margin | 9900 | €72,312 | €64,866 | -€7,447 | -10.3% |
| Operating profit (loss) | 9901 | €193 | -€10,935 | -€11,128 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €307 | €84 | -€223 | -72.6% |
| Recurring financial charges | 65 | €307 | €84 | -€223 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | -€113 | -€11,019 | -€10,906 | -9,632% |
| Profit (loss) for the period | 9904 | -€113 | -€11,019 | -€10,906 | -9,632% |
| Profit (loss) for the period to be appropriated | 9905 | -€113 | -€11,019 | -€10,906 | -9,632% |
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 18 October 2026 via checked.be.