ES WORKS: 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 WORKS
Largest movements
- Receivables within one year +€72,030
up €72,030 (+1,828%), from €3,940 to €75,969
of which Trade receivables: +€70,176
- Cash -€20,936
down €20,936 (-95.9%), from €21,834 to €898
mainly Receivables within one year (-€72,030) and Net result for the year (-€8,117)
- Tangible fixed assets -€18,066
down €18,066 (-21.8%), from €82,951 to €64,885
of which Furniture and vehicles: -€12,018
- Other debts +€31,104
up €31,104 (+120%), from €25,906 to €57,010
- Profit (loss) carried forward -€25,471
no longer reported in 2025 (was €25,471)
- Reserves +€17,354
new in 2025: €17,354
- Trade debts +€11,268
up €11,268 (+21.8%), from €51,646 to €62,914
- Tax, wage and social debts -€1,562
down €1,562 (-47.3%), from €3,301 to €1,739
of which Taxes: -€1,442
- Depreciation +€12,443
up €12,443 (+96.4%), from €12,903 to €25,346
- Gross operating margin -€2,675
down €2,675 (-11.9%), from €22,446 to €19,770
- Financial charges +€1,405
up €1,405 (+232%), from €607 to €2,012
- Taxes -€1,374
no longer reported in 2025 (was €1,374)
- Other operating charges -€667
down €667 (-55.8%), from €1,196 to €529
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 | €109,324 | €142,018 | +€32,694 | +29.9% |
| Formation expenses | 20 | €482 | €266 | -€217 | -44.9% |
| Fixed assets | 21/28 | €82,951 | €64,885 | -€18,066 | -21.8% |
| Tangible fixed assets | 22/27 | €82,951 | €64,885 | -€18,066 | -21.8% |
| Land and buildings | 22 | €13,941 | €11,931 | -€2,010 | -14.4% |
| Plant, machinery and equipment | 23 | €690 | €14 | -€677 | -98.0% |
| Furniture and vehicles | 24 | €47,253 | €35,235 | -€12,018 | -25.4% |
| Other tangible fixed assets | 26 | €21,066 | €17,705 | -€3,361 | -16.0% |
| Current assets | 29/58 | €25,891 | €76,867 | +€50,976 | +197% |
| Amounts receivable within one year | 40/41 | €3,940 | €75,969 | +€72,030 | +1,828% |
| Trade receivables | 40 | €2,596 | €72,772 | +€70,176 | +2,703% |
| Other amounts receivable | 41 | €1,344 | €3,198 | +€1,854 | +138% |
| Cash at bank and in hand | 54/58 | €21,834 | €898 | -€20,936 | -95.9% |
| Deferred charges and accrued income | 490/1 | €117 | - | -€117 | |
| Total equity and liabilities | 10/49 | €109,324 | €142,018 | +€32,694 | +29.9% |
| Equity | 10/15 | €28,471 | €20,354 | -€8,117 | -28.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €17,354 | +€17,354 | |
| Distributable reserves | 133 | - | €17,354 | +€17,354 | |
| Profit (loss) carried forward | 14 | €25,471 | - | -€25,471 | |
| Amounts payable | 17/49 | €80,853 | €121,663 | +€40,811 | +50.5% |
| Amounts payable within one year | 42/48 | €80,853 | €121,663 | +€40,811 | +50.5% |
| Trade debts | 44 | €51,646 | €62,914 | +€11,268 | +21.8% |
| Suppliers | 440/4 | €51,646 | €62,914 | +€11,268 | +21.8% |
| Taxes, remuneration and social security | 45 | €3,301 | €1,739 | -€1,562 | -47.3% |
| Taxes | 450/3 | €1,442 | - | -€1,442 | |
| Remuneration and social security | 454/9 | €1,859 | €1,739 | -€120 | -6.5% |
| Other amounts payable | 47/48 | €25,906 | €57,010 | +€31,104 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,903 | €25,346 | +€12,443 | +96.4% |
| Other operating charges | 640/8 | €1,196 | €529 | -€667 | -55.8% |
| Gross operating margin | 9900 | €22,446 | €19,770 | -€2,675 | -11.9% |
| Operating profit (loss) | 9901 | €8,347 | -€6,105 | -€14,451 | |
| Financial income | 75/76B | €24 | - | -€24 | |
| Recurring financial income | 75 | €24 | - | -€24 | |
| Financial charges | 65/66B | €607 | €2,012 | +€1,405 | +232% |
| Recurring financial charges | 65 | €607 | €2,012 | +€1,405 | +232% |
| Profit (loss) for the period before taxes | 9903 | €7,764 | -€8,117 | -€15,881 | |
| Income taxes | 67/77 | €1,374 | - | -€1,374 | |
| Profit (loss) for the period | 9904 | €6,390 | -€8,117 | -€14,507 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,390 | -€8,117 | -€14,507 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.