ESAM Group: 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.
ESAM Group
Largest movements
- Cash +€223,700
up €223,700 (+2561.3%), from €8,734 to €232,434
mainly Net result for the year (+€166,242) and Tax, wage and social debts (+€85,484)
- Receivables within one year +€21,755
new in 2025: €21,755
- Tangible fixed assets +€12,164
new in 2025: €12,164
- Stocks and contracts -€4,634
down €4,634 (-41.6%), from €11,134 to €6,500
- Reserves +€166,242
up €166,242 (+2241.2%), from €7,418 to €173,659
- Tax, wage and social debts +€85,484
up €85,484 (+3676.3%), from €2,325 to €87,809
- Gross operating margin +€202,118
up €202,118 (+1335.5%), from €15,134 to €217,252
- Taxes +€46,893
up €46,893 (+2528.7%), from €1,854 to €48,747
- Depreciation -€2,447
down €2,447 (-87.9%), from €2,783 to €336
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 | €19,868 | €272,955 | +€253,087 | +1273.9% |
| Fixed assets | 21/28 | - | €12,164 | +€12,164 | |
| Tangible fixed assets | 22/27 | - | €12,164 | +€12,164 | |
| Plant, machinery and equipment | 23 | - | €12,164 | +€12,164 | |
| Current assets | 29/58 | €19,868 | €260,790 | +€240,923 | +1212.6% |
| Stocks and contracts in progress | 3 | €11,134 | €6,500 | -€4,634 | -41.6% |
| Stocks | 30/36 | €11,134 | €6,500 | -€4,634 | -41.6% |
| Amounts receivable within one year | 40/41 | - | €21,755 | +€21,755 | |
| Trade receivables | 40 | - | €21,755 | +€21,755 | |
| Cash at bank and in hand | 54/58 | €8,734 | €232,434 | +€223,700 | +2561.3% |
| Deferred charges and accrued income | 490/1 | - | €101 | +€101 | |
| Total equity and liabilities | 10/49 | €19,868 | €272,955 | +€253,087 | +1273.9% |
| Equity | 10/15 | €17,418 | €183,659 | +€166,242 | +954.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €7,418 | €173,659 | +€166,242 | +2241.2% |
| Distributable reserves | 133 | €7,418 | €173,659 | +€166,242 | +2241.2% |
| Amounts payable | 17/49 | €2,450 | €89,296 | +€86,845 | +3544.6% |
| Amounts payable within one year | 42/48 | €2,450 | €89,296 | +€86,845 | +3544.6% |
| Trade debts | 44 | - | €1,362 | +€1,362 | |
| Suppliers | 440/4 | - | €1,362 | +€1,362 | |
| Taxes, remuneration and social security | 45 | €2,325 | €87,809 | +€85,484 | +3676.3% |
| Taxes | 450/3 | €2,325 | €87,809 | +€85,484 | +3676.3% |
| Other amounts payable | 47/48 | €125 | €125 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,783 | €336 | -€2,447 | -87.9% |
| Other operating charges | 640/8 | €2,620 | €526 | -€2,094 | -79.9% |
| Gross operating margin | 9900 | €15,134 | €217,252 | +€202,118 | +1335.5% |
| Operating profit (loss) | 9901 | €9,731 | €216,390 | +€206,660 | +2123.8% |
| Financial charges | 65/66B | €459 | €1,401 | +€943 | +205.5% |
| Recurring financial charges | 65 | €459 | €1,401 | +€943 | +205.5% |
| Profit (loss) for the period before taxes | 9903 | €9,272 | €214,989 | +€205,717 | +2218.7% |
| Income taxes | 67/77 | €1,854 | €48,747 | +€46,893 | +2528.7% |
| Profit (loss) for the period | 9904 | €7,418 | €166,242 | +€158,824 | +2141.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,418 | €166,242 | +€158,824 | +2141.2% |
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 11 October 2026 via checked.be.