ESB IMEX: 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.
ESB IMEX
Largest movements
- Tangible fixed assets +€98,413
new in 2025: €98,413
of which Land and buildings: +€59,908
- Cash -€76,031
down €76,031 (-47.0%), from €161,616 to €85,585
mainly Investment in fixed assets (net) (-€105,455) and Receivables within one year (-€17,625)
- Receivables within one year +€17,625
up €17,625 (+645%), from €2,732 to €20,358
of which Other amounts receivable: +€10,085
- Debts after one year +€35,000
up €35,000 (+36.9%), from €94,870 to €129,870
- Reserves +€9,642
up €9,642 (+18.9%), from €51,110 to €60,752
- Tax, wage and social debts -€4,445
down €4,445 (-90.1%), from €4,932 to €486
- Depreciation +€7,041
new in 2025: €7,041
- Gross operating margin +€3,983
up €3,983 (+26.1%), from €15,244 to €19,227
- Taxes -€2,945
down €2,945 (-59.7%), from €4,932 to €1,986
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 | €164,349 | €204,820 | +€40,471 | +24.6% |
| Fixed assets | 21/28 | - | €98,413 | +€98,413 | |
| Tangible fixed assets | 22/27 | - | €98,413 | +€98,413 | |
| Land and buildings | 22 | - | €59,908 | +€59,908 | |
| Furniture and vehicles | 24 | - | €38,506 | +€38,506 | |
| Current assets | 29/58 | €164,349 | €106,406 | -€57,942 | -35.3% |
| Amounts receivable within one year | 40/41 | €2,732 | €20,358 | +€17,625 | +645% |
| Trade receivables | 40 | - | €7,541 | +€7,541 | |
| Other amounts receivable | 41 | €2,732 | €12,817 | +€10,085 | +369% |
| Cash at bank and in hand | 54/58 | €161,616 | €85,585 | -€76,031 | -47.0% |
| Deferred charges and accrued income | 490/1 | - | €463 | +€463 | |
| Total equity and liabilities | 10/49 | €164,349 | €204,820 | +€40,471 | +24.6% |
| Equity | 10/15 | €63,510 | €73,152 | +€9,642 | +15.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €51,110 | €60,752 | +€9,642 | +18.9% |
| Distributable reserves | 133 | €51,110 | €60,752 | +€9,642 | +18.9% |
| Amounts payable | 17/49 | €100,839 | €131,668 | +€30,829 | +30.6% |
| Amounts payable after more than one year | 17 | €94,870 | €129,870 | +€35,000 | +36.9% |
| Financial debts | 170/4 | €94,870 | €129,870 | +€35,000 | +36.9% |
| Amounts payable within one year | 42/48 | €5,969 | €1,798 | -€4,171 | -69.9% |
| Trade debts | 44 | €1,038 | €1,282 | +€244 | +23.5% |
| Suppliers | 440/4 | €1,038 | €1,282 | +€244 | +23.5% |
| Taxes, remuneration and social security | 45 | €4,932 | €486 | -€4,445 | -90.1% |
| Taxes | 450/3 | €4,932 | €486 | -€4,445 | -90.1% |
| Other amounts payable | 47/48 | - | €30 | +€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,041 | +€7,041 | |
| Other operating charges | 640/8 | €543 | €400 | -€144 | -26.4% |
| Gross operating margin | 9900 | €15,244 | €19,227 | +€3,983 | +26.1% |
| Operating profit (loss) | 9901 | €14,701 | €11,786 | -€2,915 | -19.8% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €139 | €158 | +€19 | +13.7% |
| Recurring financial charges | 65 | €139 | €158 | +€19 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €14,564 | €11,629 | -€2,935 | -20.2% |
| Income taxes | 67/77 | €4,932 | €1,986 | -€2,945 | -59.7% |
| Profit (loss) for the period | 9904 | €9,632 | €9,642 | +€10 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,632 | €9,642 | +€10 | +0.1% |
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 24 October 2026 via checked.be.