ESAPS: what changed
Two fiscal 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.
ESAPS
Largest movements
- Stocks and contracts +€50,631
up €50,631 (+50.3%), from €100,562 to €151,194
- Receivables within one year +€30,360
up €30,360 (+16.8%), from €180,207 to €210,567
of which Trade receivables: +€54,676
- Cash +€4,285
up €4,285 (+208.1%), from €2,059 to €6,344
mainly Advances received (+€100,000) and Short-term financial debts (+€6,484)
- Advances received +€100,000
new in 2025: €100,000
- Tax, wage and social debts -€21,379
down €21,379 (-48.9%), from €43,691 to €22,312
of which Taxes: -€16,253
- Debts after one year -€7,038
down €7,038 (-100.0%), from €7,038 to €0
- Short-term financial debts +€6,484
up €6,484 (+11.3%), from €57,516 to €64,000
- Gross operating margin -€49,006
down €49,006 (-20.8%), from €235,861 to €186,856
- Staff costs +€42,098
up €42,098 (+31.8%), from €132,591 to €174,688
- Taxes -€9,977
down €9,977 (-100.0%), from €9,977 to €0
- Financial charges -€5,052
down €5,052 (-49.6%), from €10,195 to €5,143
- Financial income -€2,973
down €2,973 (-90.5%), from €3,287 to €314
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 | €291,900 | €375,853 | +€83,953 | +28.8% |
| Fixed assets | 21/28 | €6,004 | €6,908 | +€904 | +15.1% |
| Tangible fixed assets | 22/27 | €6,004 | €6,908 | +€904 | +15.1% |
| Plant, machinery and equipment | 23 | €4,109 | €2,944 | -€1,165 | -28.4% |
| Furniture and vehicles | 24 | €443 | €0 | -€443 | -100.0% |
| Other tangible fixed assets | 26 | €1,452 | €3,964 | +€2,512 | +173.0% |
| Current assets | 29/58 | €285,897 | €368,946 | +€83,049 | +29.0% |
| Stocks and contracts in progress | 3 | €100,562 | €151,194 | +€50,631 | +50.3% |
| Stocks | 30/36 | €100,562 | €151,194 | +€50,631 | +50.3% |
| Amounts receivable within one year | 40/41 | €180,207 | €210,567 | +€30,360 | +16.8% |
| Trade receivables | 40 | €108,304 | €162,980 | +€54,676 | +50.5% |
| Other amounts receivable | 41 | €71,903 | €47,587 | -€24,316 | -33.8% |
| Cash at bank and in hand | 54/58 | €2,059 | €6,344 | +€4,285 | +208.1% |
| Deferred charges and accrued income | 490/1 | €3,068 | €842 | -€2,227 | -72.6% |
| Total equity and liabilities | 10/49 | €291,900 | €375,853 | +€83,953 | +28.8% |
| Equity | 10/15 | €81,849 | €83,890 | +€2,042 | +2.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €4,000 | €4,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,849 | €39,890 | +€2,042 | +5.4% |
| Amounts payable | 17/49 | €210,051 | €291,963 | +€81,912 | +39.0% |
| Amounts payable after more than one year | 17 | €7,038 | €0 | -€7,038 | -100.0% |
| Financial debts | 170/4 | €7,038 | €0 | -€7,038 | -100.0% |
| Amounts payable within one year | 42/48 | €203,013 | €288,763 | +€85,750 | +42.2% |
| Current portion of amounts payable after more than one year | 42 | €10,337 | €9,370 | -€967 | -9.4% |
| Financial debts | 43 | €57,516 | €64,000 | +€6,484 | +11.3% |
| Credit institutions | 430/8 | €57,516 | €64,000 | +€6,484 | +11.3% |
| Trade debts | 44 | €91,470 | €93,081 | +€1,610 | +1.8% |
| Suppliers | 440/4 | €91,470 | €93,081 | +€1,610 | +1.8% |
| Advances received on contracts in progress | 46 | - | €100,000 | +€100,000 | |
| Taxes, remuneration and social security | 45 | €43,691 | €22,312 | -€21,379 | -48.9% |
| Taxes | 450/3 | €26,231 | €9,977 | -€16,253 | -62.0% |
| Remuneration and social security | 454/9 | €17,460 | €12,334 | -€5,126 | -29.4% |
| Accrued charges and deferred income | 492/3 | - | €3,200 | +€3,200 | |
| Remuneration, social security and pensions | 62 | €132,591 | €174,688 | +€42,098 | +31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,490 | €2,246 | -€244 | -9.8% |
| Other operating charges | 640/8 | €1,529 | €3,051 | +€1,523 | +99.6% |
| Gross operating margin | 9900 | €235,861 | €186,856 | -€49,006 | -20.8% |
| Operating profit (loss) | 9901 | €99,253 | €6,870 | -€92,382 | -93.1% |
| Financial income | 75/76B | €3,287 | €314 | -€2,973 | -90.5% |
| Recurring financial income | 75 | €3,287 | €314 | -€2,973 | -90.5% |
| Financial charges | 65/66B | €10,195 | €5,143 | -€5,052 | -49.6% |
| Recurring financial charges | 65 | €10,195 | €5,143 | -€5,052 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €92,345 | €2,042 | -€90,304 | -97.8% |
| Income taxes | 67/77 | €9,977 | €0 | -€9,977 | -100.0% |
| Profit (loss) for the period | 9904 | €82,368 | €2,042 | -€80,326 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €82,368 | €2,042 | -€80,326 | -97.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.