ESARAZ: 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.
ESARAZ
Largest movements
- Receivables within one year +€12,882
up €12,882 (+109.7%), from €11,740 to €24,622
of which Other amounts receivable: +€8,772
- Cash -€5,069
no longer reported in 2025 (was €5,069)
mainly Receivables within one year (-€12,882) and Investment in fixed assets (net) (-€1,400)
- Tangible fixed assets +€635
up €635 (+92.8%), from €684 to €1,319
- Deferred charges and accrued income -€432
no longer reported in 2025 (was €432)
- Trade debts +€6,969
up €6,969 (+150.2%), from €4,639 to €11,608
- Profit (loss) carried forward +€529
up €529 (+15.9%), from €3,325 to €3,854
- Gross operating margin +€6,194
up €6,194 (+48.6%), from €12,754 to €18,948
- Financial charges +€3,539
up €3,539 (+114.4%), from €3,093 to €6,632
- Other operating charges +€2,310
up €2,310 (+28.6%), from €8,083 to €10,394
- Depreciation +€370
up €370 (+93.4%), from €396 to €765
- Taxes +€350
up €350 (+62.1%), from €564 to €915
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 | €26,925 | €34,941 | +€8,015 | +29.8% |
| Fixed assets | 21/28 | €9,684 | €10,319 | +€635 | +6.6% |
| Tangible fixed assets | 22/27 | €684 | €1,319 | +€635 | +92.8% |
| Furniture and vehicles | 24 | €684 | €1,319 | +€635 | +92.8% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €17,241 | €24,622 | +€7,381 | +42.8% |
| Amounts receivable within one year | 40/41 | €11,740 | €24,622 | +€12,882 | +109.7% |
| Trade receivables | 40 | €10,935 | €15,045 | +€4,110 | +37.6% |
| Other amounts receivable | 41 | €805 | €9,577 | +€8,772 | +1089.8% |
| Cash at bank and in hand | 54/58 | €5,069 | - | -€5,069 | |
| Deferred charges and accrued income | 490/1 | €432 | - | -€432 | |
| Total equity and liabilities | 10/49 | €26,925 | €34,941 | +€8,015 | +29.8% |
| Equity | 10/15 | €13,325 | €13,854 | +€529 | +4.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,325 | €3,854 | +€529 | +15.9% |
| Amounts payable | 17/49 | €13,600 | €21,087 | +€7,487 | +55.0% |
| Amounts payable within one year | 42/48 | €13,600 | €21,087 | +€7,487 | +55.0% |
| Financial debts | 43 | - | €247 | +€247 | |
| Credit institutions | 430/8 | - | €247 | +€247 | |
| Trade debts | 44 | €4,639 | €11,608 | +€6,969 | +150.2% |
| Suppliers | 440/4 | €4,639 | €11,608 | +€6,969 | +150.2% |
| Taxes, remuneration and social security | 45 | €8,961 | €9,231 | +€270 | +3.0% |
| Taxes | 450/3 | €8,961 | €9,231 | +€270 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396 | €765 | +€370 | +93.4% |
| Other operating charges | 640/8 | €8,083 | €10,394 | +€2,310 | +28.6% |
| Gross operating margin | 9900 | €12,754 | €18,948 | +€6,194 | +48.6% |
| Operating profit (loss) | 9901 | €4,275 | €7,790 | +€3,515 | +82.2% |
| Financial income | 75/76B | €24 | €285 | +€261 | +1070.5% |
| Recurring financial income | 75 | €24 | €285 | +€261 | +1070.5% |
| Financial charges | 65/66B | €3,093 | €6,632 | +€3,539 | +114.4% |
| Recurring financial charges | 65 | €3,093 | €6,632 | +€3,539 | +114.4% |
| Profit (loss) for the period before taxes | 9903 | €1,206 | €1,443 | +€237 | +19.7% |
| Income taxes | 67/77 | €564 | €915 | +€350 | +62.1% |
| Profit (loss) for the period | 9904 | €642 | €529 | -€113 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €642 | €529 | -€113 | -17.6% |
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 5 October 2026 via checked.be.