ESCOFIN: 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.
ESCOFIN
Largest movements
- Current investments -€5.3m
down €5.3m (-50.8%), from €10.4m to €5.1m
- Financial fixed assets -€3.5m
down €3.5m (-18.5%), from €19.2m to €15.6m
- Tangible fixed assets -€2.9m
down €2.9m (-17.6%), from €16.7m to €13.7m
of which Assets under construction and advance payments: -€2.5m
- Cash +€2.0m
up €2.0m (+319.1%), from €616,026 to €2.6m
mainly Investment in fixed assets (net) (+€5.7m) and Current investments (+€5.3m)
- Profit (loss) carried forward -€5.9m
down €5.9m (-91.9%), from -€6.4m to -€12.4m
- Short-term financial debts -€2.1m
down €2.1m (-29.3%), from €7.1m to €5.0m
- Revaluation surpluses -€2.0m
down €2.0m (-19.1%), from €10.7m to €8.7m
- Debts after one year +€524,023
up €524,023 (+37.8%), from €1.4m to €1.9m
- Financial charges +€3.2m
up €3.2m (+69.8%), from €4.6m to €7.8m
of which Non-recurring financial charges: +€7.5m
- Gross operating margin +€820,773
up €820,773, from -€557,142 to €263,630
- Taxes +€294,790
up €294,790 (+126.9%), from €232,312 to €527,102
- Depreciation +€273,196
up €273,196 (+57.8%), from €472,394 to €745,590
- Financial income +€268,347
up €268,347 (+9.8%), from €2.7m to €3.0m
of which Financial income: +€268,347
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 | €47,008,078 | €37,316,741 | -€9.7m | -20.6% |
| Fixed assets | 21/28 | €35,829,540 | €29,348,033 | -€6.5m | -18.1% |
| Intangible fixed assets | 21 | €1,577 | €1 | -€1,576 | -99.9% |
| Tangible fixed assets | 22/27 | €16,668,305 | €13,731,083 | -€2.9m | -17.6% |
| Land and buildings | 22 | €12,815,686 | €12,763,338 | -€52,348 | -0.4% |
| Plant, machinery and equipment | 23 | €3,237 | €2,538 | -€700 | -21.6% |
| Furniture and vehicles | 24 | €5,144 | €98,330 | +€93,186 | +1811.5% |
| Other tangible fixed assets | 26 | €1,354,479 | €866,878 | -€487,601 | -36.0% |
| Assets under construction and advance payments | 27 | €2,489,759 | €0 | -€2.5m | -100.0% |
| Financial fixed assets | 28 | €19,159,657 | €15,616,948 | -€3.5m | -18.5% |
| Current assets | 29/58 | €11,178,538 | €7,968,708 | -€3.2m | -28.7% |
| Amounts receivable within one year | 40/41 | €146,785 | €239,768 | +€92,984 | +63.3% |
| Trade receivables | 40 | €17,700 | €12,272 | -€5,428 | -30.7% |
| Other amounts receivable | 41 | €129,085 | €227,496 | +€98,412 | +76.2% |
| Current investments | 50/53 | €10,390,874 | €5,108,685 | -€5.3m | -50.8% |
| Cash at bank and in hand | 54/58 | €616,026 | €2,581,810 | +€2.0m | +319.1% |
| Deferred charges and accrued income | 490/1 | €24,852 | €38,445 | +€13,592 | +54.7% |
| Total equity and liabilities | 10/49 | €47,008,078 | €37,316,741 | -€9.7m | -20.6% |
| Equity | 10/15 | €37,695,602 | €29,728,917 | -€8.0m | -21.1% |
| Contributions | 10/11 | €33,329,999 | €33,329,999 | = | 0.0% |
| Capital | 10 | €33,245,000 | €33,245,000 | = | 0.0% |
| Issued capital | 100 | €33,245,000 | €33,245,000 | = | 0.0% |
| Outside capital | 11 | €84,999 | €84,999 | = | 0.0% |
| Share premium | 1100/10 | €84,999 | €84,999 | = | 0.0% |
| Revaluation surpluses | 12 | €10,722,877 | €8,673,043 | -€2.0m | -19.1% |
| Reserves | 13 | €81,636 | €81,636 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,397 | €4,397 | = | 0.0% |
| Legal reserve | 130 | €4,397 | €4,397 | = | 0.0% |
| Distributable reserves | 133 | €77,239 | €77,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,438,910 | -€12,355,760 | -€5.9m | -91.9% |
| Amounts payable | 17/49 | €9,312,476 | €7,587,824 | -€1.7m | -18.5% |
| Amounts payable after more than one year | 17 | €1,388,108 | €1,912,132 | +€524,023 | +37.8% |
| Financial debts | 170/4 | €1,388,108 | €1,912,132 | +€524,023 | +37.8% |
| Amounts payable within one year | 42/48 | €7,805,422 | €5,525,474 | -€2.3m | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €65,349 | €65,977 | +€627 | +1.0% |
| Financial debts | 43 | €7,068,787 | €5,000,000 | -€2.1m | -29.3% |
| Credit institutions | 430/8 | €7,068,787 | €5,000,000 | -€2.1m | -29.3% |
| Trade debts | 44 | €105,849 | €253,561 | +€147,712 | +139.5% |
| Suppliers | 440/4 | €105,849 | €253,561 | +€147,712 | +139.5% |
| Taxes, remuneration and social security | 45 | €32,064 | €2,869 | -€29,195 | -91.1% |
| Taxes | 450/3 | €32,064 | €2,869 | -€29,195 | -91.1% |
| Other amounts payable | 47/48 | €533,373 | €203,068 | -€330,305 | -61.9% |
| Accrued charges and deferred income | 492/3 | €118,946 | €150,218 | +€31,272 | +26.3% |
| Non-recurring operating income | 76A | - | €554,694 | +€554,694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €472,394 | €745,590 | +€273,196 | +57.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €57,577 | €86,625 | +€29,048 | +50.5% |
| Non-recurring operating charges | 66A | €32,245 | €71,664 | +€39,418 | +122.2% |
| Gross operating margin | 9900 | -€557,142 | €263,630 | +€820,773 | |
| Operating profit (loss) | 9901 | -€1,119,359 | -€640,248 | +€479,111 | +42.8% |
| Financial income | 75/76B | €2,743,340 | €3,011,687 | +€268,347 | +9.8% |
| Recurring financial income | 75 | €2,743,340 | €3,011,687 | +€268,347 | +9.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,572,024 | €7,761,187 | +€3.2m | +69.8% |
| Recurring financial charges | 65 | €4,572,024 | €268,116 | -€4.3m | -94.1% |
| Non-recurring financial charges | 66B | - | €7,493,071 | +€7.5m | |
| Profit (loss) for the period before taxes | 9903 | -€2,948,043 | -€5,389,749 | -€2.4m | -82.8% |
| Income taxes | 67/77 | €232,312 | €527,102 | +€294,790 | +126.9% |
| Profit (loss) for the period | 9904 | -€3,180,356 | -€5,916,851 | -€2.7m | -86.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,180,356 | -€5,916,851 | -€2.7m | -86.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.