es4u: 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.
es4u
Largest movements
- Receivables within one year +€6,006
up €6,006 (+142%), from €4,235 to €10,241
- Tangible fixed assets -€846
down €846 (-25.1%), from €3,375 to €2,529
- Cash +€803
up €803 (+17.0%), from €4,718 to €5,522
mainly Net result for the year (+€19,711) and Tax, wage and social debts (+€1,308)
- Deferred charges and accrued income +€646
new in 2025: €646
- Profit (loss) carried forward +€16,711
up €16,711 (+44.6%), from -€37,501 to -€20,790
- Other debts -€14,492
down €14,492 (-43.6%), from €33,274 to €18,782
- Reserves +€3,000
up €3,000 (+51.7%), from €5,807 to €8,807
of which Distributable reserves: +€3,000
- Tax, wage and social debts +€1,308
up €1,308 (+72.7%), from €1,798 to €3,106
of which Taxes: +€2,108
- Gross operating margin +€14,121
up €14,121 (+104%), from €13,575 to €27,696
- Taxes +€3,989
up €3,989 (+2,628%), from €152 to €4,141
- Financial charges -€567
down €567 (-24.2%), from €2,348 to €1,780
- Other operating charges +€298
up €298 (+32.4%), from €920 to €1,217
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 | €12,328 | €18,937 | +€6,609 | +53.6% |
| Fixed assets | 21/28 | €3,375 | €2,529 | -€846 | -25.1% |
| Tangible fixed assets | 22/27 | €3,375 | €2,529 | -€846 | -25.1% |
| Plant, machinery and equipment | 23 | €3,375 | €2,529 | -€846 | -25.1% |
| Current assets | 29/58 | €8,953 | €16,408 | +€7,455 | +83.3% |
| Amounts receivable within one year | 40/41 | €4,235 | €10,241 | +€6,006 | +142% |
| Trade receivables | 40 | €4,235 | €10,241 | +€6,006 | +142% |
| Cash at bank and in hand | 54/58 | €4,718 | €5,522 | +€803 | +17.0% |
| Deferred charges and accrued income | 490/1 | - | €646 | +€646 | |
| Total equity and liabilities | 10/49 | €12,328 | €18,937 | +€6,609 | +53.6% |
| Equity | 10/15 | -€25,494 | -€5,783 | +€19,711 | +77.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €5,807 | €8,807 | +€3,000 | +51.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €3,948 | €6,948 | +€3,000 | +76.0% |
| Profit (loss) carried forward | 14 | -€37,501 | -€20,790 | +€16,711 | +44.6% |
| Amounts payable | 17/49 | €37,822 | €24,719 | -€13,103 | -34.6% |
| Amounts payable within one year | 42/48 | €37,822 | €24,719 | -€13,103 | -34.6% |
| Trade debts | 44 | €2,749 | €2,831 | +€81 | +3.0% |
| Suppliers | 440/4 | €2,749 | €2,831 | +€81 | +3.0% |
| Taxes, remuneration and social security | 45 | €1,798 | €3,106 | +€1,308 | +72.7% |
| Taxes | 450/3 | €998 | €3,106 | +€2,108 | +211% |
| Remuneration and social security | 454/9 | €800 | - | -€800 | |
| Other amounts payable | 47/48 | €33,274 | €18,782 | -€14,492 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €701 | €846 | +€145 | +20.7% |
| Other operating charges | 640/8 | €920 | €1,217 | +€298 | +32.4% |
| Gross operating margin | 9900 | €13,575 | €27,696 | +€14,121 | +104% |
| Operating profit (loss) | 9901 | €11,955 | €25,632 | +€13,678 | +114% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,348 | €1,780 | -€567 | -24.2% |
| Recurring financial charges | 65 | €2,348 | €1,780 | -€567 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €9,607 | €23,852 | +€14,245 | +148% |
| Income taxes | 67/77 | €152 | €4,141 | +€3,989 | +2,628% |
| Profit (loss) for the period | 9904 | €9,455 | €19,711 | +€10,256 | +108% |
| Profit (loss) for the period to be appropriated | 9905 | €9,455 | €19,711 | +€10,256 | +108% |
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 15 October 2026 via checked.be.