ESBE: 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.
ESBE
Largest movements
- Receivables within one year +€33,780
up €33,780 (+36.7%), from €91,966 to €125,746
of which Other amounts receivable: +€30,577
- Tangible fixed assets -€14,709
down €14,709 (-11.1%), from €132,559 to €117,850
of which Land and buildings: -€13,418
- Reserves +€29,983
up €29,983 (+25.3%), from €118,614 to €148,597
- Debts after one year -€8,730
down €8,730 (-8.1%), from €107,630 to €98,900
- Current portion of long-term debt -€6,208
down €6,208 (-40.9%), from €15,171 to €8,963
- Short-term financial debts +€5,439
up €5,439 (+156.3%), from €3,479 to €8,918
- Trade debts -€3,970
down €3,970 (-62.2%), from €6,380 to €2,410
- Gross operating margin +€19,778
up €19,778 (+39.0%), from €50,723 to €70,501
- Taxes +€5,900
up €5,900 (+54.1%), from €10,913 to €16,813
- Financial income +€1,502
up €1,502 (+36.0%), from €4,171 to €5,673
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 | €262,847 | €282,218 | +€19,371 | +7.4% |
| Fixed assets | 21/28 | €132,559 | €117,850 | -€14,709 | -11.1% |
| Tangible fixed assets | 22/27 | €132,559 | €117,850 | -€14,709 | -11.1% |
| Land and buildings | 22 | €129,497 | €116,078 | -€13,418 | -10.4% |
| Plant, machinery and equipment | 23 | €3,062 | €1,771 | -€1,291 | -42.2% |
| Current assets | 29/58 | €130,289 | €164,369 | +€34,080 | +26.2% |
| Amounts receivable after more than one year | 29 | €36,000 | €36,000 | = | 0.0% |
| Other amounts receivable | 291 | €36,000 | €36,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €91,966 | €125,746 | +€33,780 | +36.7% |
| Trade receivables | 40 | €19,054 | €22,257 | +€3,203 | +16.8% |
| Other amounts receivable | 41 | €72,912 | €103,489 | +€30,577 | +41.9% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €2,323 | €2,623 | +€300 | +12.9% |
| Total equity and liabilities | 10/49 | €262,847 | €282,218 | +€19,371 | +7.4% |
| Equity | 10/15 | €125,114 | €155,097 | +€29,983 | +24.0% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €118,614 | €148,597 | +€29,983 | +25.3% |
| Distributable reserves | 133 | €118,614 | €148,597 | +€29,983 | +25.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €137,733 | €127,121 | -€10,612 | -7.7% |
| Amounts payable after more than one year | 17 | €107,630 | €98,900 | -€8,730 | -8.1% |
| Financial debts | 170/4 | €107,630 | €98,900 | -€8,730 | -8.1% |
| Amounts payable within one year | 42/48 | €30,104 | €28,221 | -€1,882 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €15,171 | €8,963 | -€6,208 | -40.9% |
| Financial debts | 43 | €3,479 | €8,918 | +€5,439 | +156.3% |
| Credit institutions | 430/8 | €3,479 | €8,918 | +€5,439 | +156.3% |
| Trade debts | 44 | €6,380 | €2,410 | -€3,970 | -62.2% |
| Suppliers | 440/4 | €6,380 | €2,410 | -€3,970 | -62.2% |
| Taxes, remuneration and social security | 45 | €5,073 | €7,931 | +€2,858 | +56.3% |
| Taxes | 450/3 | €5,073 | €7,931 | +€2,858 | +56.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,261 | €14,709 | +€448 | +3.1% |
| Other operating charges | 640/8 | €980 | €1,346 | +€366 | +37.4% |
| Gross operating margin | 9900 | €50,723 | €70,501 | +€19,778 | +39.0% |
| Operating profit (loss) | 9901 | €35,482 | €54,445 | +€18,964 | +53.4% |
| Financial income | 75/76B | €4,171 | €5,673 | +€1,502 | +36.0% |
| Recurring financial income | 75 | €4,171 | €5,673 | +€1,502 | +36.0% |
| Financial charges | 65/66B | €2,412 | €2,627 | +€214 | +8.9% |
| Recurring financial charges | 65 | €2,412 | €2,627 | +€214 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €37,240 | €57,491 | +€20,252 | +54.4% |
| Income taxes | 67/77 | €10,913 | €16,813 | +€5,900 | +54.1% |
| Profit (loss) for the period | 9904 | €26,327 | €40,679 | +€14,352 | +54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,327 | €40,679 | +€14,352 | +54.5% |
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 8 October 2026 via checked.be.