ES26 MANAGEMENT: what changed
What changed
ES26 MANAGEMENT
NACE 46.190, Agents in non-specialised wholesale trade
filed annual accounts (NBB)
Net result for the year
-€4,143
2025 · -€1,754-€2,389
Equity
€112,635
2025 · €123,890-€11,255
Cash
€3,463
2025 · €4,539-€1,075
Balance sheet total
€123,274
2025 · €224,039-€100,765
Largest movements
Assets
- Receivables within one year -€100,492
down €100,492 (-94.7%), from €106,118 to €5,626
of which Other amounts receivable: -€82,491
Equity and liabilities
- Other debts -€53,432
down €53,432 (-88.3%), from €60,544 to €7,112
- Reserves -€11,255
down €11,255 (-9.6%), from €117,690 to €106,435
- Tax, wage and social debts -€10,589
down €10,589 (-77.9%), from €13,598 to €3,009
- Trade debts -€9,970
down €9,970 (-95.1%), from €10,488 to €517
- Current portion of long-term debt -€7,779
no longer reported in 2026 (was €7,779)
Income statement
- Gross operating margin -€8,263
down €8,263, from €2,267 to -€5,997
- Financial charges -€2,412
down €2,412 (-67.1%), from €3,594 to €1,182
- Taxes -€2,285
down €2,285 (-69.4%), from €3,294 to €1,009
- Financial income +€744
up €744 (+13.6%), from €5,491 to €6,236
- Depreciation -€346
down €346 (-17.8%), from €1,942 to €1,596
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€1,754
Gross operating margin
-€8,263
Depreciation
+€346
Other operating charges
+€87
Financial income
+€744
Financial charges
+€2,412
Taxes
+€2,285
Result 2026
-€4,143
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€16,214
Investment
-€2,398
Financing
-€14,891
Cash 2025
€4,539
From operations (derived)
+€16,214
Net result for the year
-€4,143
Depreciation
+€1,596
Receivables within one year
+€100,492
Trade debts
-€9,970
Tax, wage and social debts
-€10,589
Advances received
-€7,740
Other debts
-€53,432
Investment (derived)
-€2,398
Investment in fixed assets (net)
-€2,398
Financing
-€14,891
Current portion of long-term debt
-€7,779
Contributions, distributions and other
-€7,112
Cash 2026
€3,463
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,039 | €123,274 | -€100,765 | -45.0% |
| Fixed assets | 21/28 | €3,251 | €4,053 | +€802 | +24.7% |
| Tangible fixed assets | 22/27 | €3,251 | €4,053 | +€802 | +24.7% |
| Plant, machinery and equipment | 23 | €2,483 | €2,535 | +€52 | +2.1% |
| Furniture and vehicles | 24 | €768 | €1,518 | +€750 | +97.6% |
| Current assets | 29/58 | €220,787 | €119,220 | -€101,567 | -46.0% |
| Amounts receivable after more than one year | 29 | €110,131 | €110,131 | = | 0.0% |
| Other amounts receivable | 291 | €110,131 | €110,131 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €106,118 | €5,626 | -€100,492 | -94.7% |
| Trade receivables | 40 | €18,241 | €240 | -€18,001 | -98.7% |
| Other amounts receivable | 41 | €87,877 | €5,386 | -€82,491 | -93.9% |
| Cash at bank and in hand | 54/58 | €4,539 | €3,463 | -€1,075 | -23.7% |
| Total equity and liabilities | 10/49 | €224,039 | €123,274 | -€100,765 | -45.0% |
| Equity | 10/15 | €123,890 | €112,635 | -€11,255 | -9.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €117,690 | €106,435 | -€11,255 | -9.6% |
| Distributable reserves | 133 | €117,690 | €106,435 | -€11,255 | -9.6% |
| Amounts payable | 17/49 | €100,149 | €10,639 | -€89,510 | -89.4% |
| Amounts payable within one year | 42/48 | €100,149 | €10,639 | -€89,510 | -89.4% |
| Current portion of amounts payable after more than one year | 42 | €7,779 | - | -€7,779 | |
| Trade debts | 44 | €10,488 | €517 | -€9,970 | -95.1% |
| Suppliers | 440/4 | €10,488 | €517 | -€9,970 | -95.1% |
| Advances received on contracts in progress | 46 | €7,740 | - | -€7,740 | |
| Taxes, remuneration and social security | 45 | €13,598 | €3,009 | -€10,589 | -77.9% |
| Taxes | 450/3 | €13,598 | €3,009 | -€10,589 | -77.9% |
| Other amounts payable | 47/48 | €60,544 | €7,112 | -€53,432 | -88.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,942 | €1,596 | -€346 | -17.8% |
| Other operating charges | 640/8 | €682 | €595 | -€87 | -12.8% |
| Gross operating margin | 9900 | €2,267 | -€5,997 | -€8,263 | |
| Operating profit (loss) | 9901 | -€357 | -€8,187 | -€7,830 | -2,195% |
| Financial income | 75/76B | €5,491 | €6,236 | +€744 | +13.6% |
| Recurring financial income | 75 | €5,491 | €6,236 | +€744 | +13.6% |
| Financial charges | 65/66B | €3,594 | €1,182 | -€2,412 | -67.1% |
| Recurring financial charges | 65 | €3,594 | €1,182 | -€2,412 | -67.1% |
| Profit (loss) for the period before taxes | 9903 | €1,540 | -€3,134 | -€4,674 | |
| Income taxes | 67/77 | €3,294 | €1,009 | -€2,285 | -69.4% |
| Profit (loss) for the period | 9904 | -€1,754 | -€4,143 | -€2,389 | -136% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,754 | -€4,143 | -€2,389 | -136% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.