ESD ELECTRICITE: 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.
ESD ELECTRICITE
Largest movements
- Receivables within one year -€22,180
down €22,180 (-51.8%), from €42,821 to €20,641
of which Trade receivables: -€25,685
- Tangible fixed assets -€12,317
down €12,317 (-21.3%), from €57,837 to €45,520
of which Furniture and vehicles: -€11,310
- Cash -€10,093
down €10,093 (-83.6%), from €12,075 to €1,982
mainly Trade debts (-€26,365) and Other debts (-€15,000)
- Stocks and contracts -€8,154
down €8,154 (-31.1%), from €26,180 to €18,026
- Trade debts -€26,365
down €26,365 (-61.3%), from €43,006 to €16,642
- Other debts -€15,000
no longer reported in 2025 (was €15,000)
- Debts after one year -€10,923
down €10,923 (-32.2%), from €33,962 to €23,039
- Tax, wage and social debts -€2,477
down €2,477 (-40.4%), from €6,133 to €3,656
of which Remuneration and social security: -€2,765
- Staff costs -€11,538
no longer reported in 2025 (was €11,538)
- Gross operating margin -€9,782
down €9,782 (-29.9%), from €32,737 to €22,954
- Depreciation +€6,345
up €6,345 (+62.9%), from €10,084 to €16,429
- Other operating charges -€411
down €411 (-17.6%), from €2,340 to €1,929
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 | €139,911 | €86,614 | -€53,297 | -38.1% |
| Fixed assets | 21/28 | €58,012 | €45,695 | -€12,317 | -21.2% |
| Tangible fixed assets | 22/27 | €57,837 | €45,520 | -€12,317 | -21.3% |
| Plant, machinery and equipment | 23 | €1,872 | €865 | -€1,007 | -53.8% |
| Furniture and vehicles | 24 | €55,965 | €44,654 | -€11,310 | -20.2% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €81,899 | €40,919 | -€40,980 | -50.0% |
| Stocks and contracts in progress | 3 | €26,180 | €18,026 | -€8,154 | -31.1% |
| Stocks | 30/36 | €26,180 | €18,026 | -€8,154 | -31.1% |
| Amounts receivable within one year | 40/41 | €42,821 | €20,641 | -€22,180 | -51.8% |
| Trade receivables | 40 | €39,193 | €13,509 | -€25,685 | -65.5% |
| Other amounts receivable | 41 | €3,628 | €7,133 | +€3,505 | +96.6% |
| Cash at bank and in hand | 54/58 | €12,075 | €1,982 | -€10,093 | -83.6% |
| Deferred charges and accrued income | 490/1 | €823 | €270 | -€553 | -67.2% |
| Total equity and liabilities | 10/49 | €139,911 | €86,614 | -€53,297 | -38.1% |
| Equity | 10/15 | €31,764 | €32,588 | +€824 | +2.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,541 | €20,365 | +€824 | +4.2% |
| Distributable reserves | 133 | €19,541 | €20,365 | +€824 | +4.2% |
| Profit (loss) carried forward | 14 | €6,023 | €6,023 | = | 0.0% |
| Amounts payable | 17/49 | €108,147 | €54,026 | -€54,121 | -50.0% |
| Amounts payable after more than one year | 17 | €33,962 | €23,039 | -€10,923 | -32.2% |
| Financial debts | 170/4 | €33,962 | €23,039 | -€10,923 | -32.2% |
| Amounts payable within one year | 42/48 | €74,185 | €30,987 | -€43,198 | -58.2% |
| Current portion of amounts payable after more than one year | 42 | €10,046 | €10,690 | +€644 | +6.4% |
| Trade debts | 44 | €43,006 | €16,642 | -€26,365 | -61.3% |
| Suppliers | 440/4 | €43,006 | €16,642 | -€26,365 | -61.3% |
| Taxes, remuneration and social security | 45 | €6,133 | €3,656 | -€2,477 | -40.4% |
| Taxes | 450/3 | €3,368 | €3,656 | +€288 | +8.6% |
| Remuneration and social security | 454/9 | €2,765 | - | -€2,765 | |
| Other amounts payable | 47/48 | €15,000 | - | -€15,000 | |
| Non-recurring operating income | 76A | €13,760 | - | -€13,760 | |
| Remuneration, social security and pensions | 62 | €11,538 | - | -€11,538 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,084 | €16,429 | +€6,345 | +62.9% |
| Other operating charges | 640/8 | €2,340 | €1,929 | -€411 | -17.6% |
| Gross operating margin | 9900 | €32,737 | €22,954 | -€9,782 | -29.9% |
| Operating profit (loss) | 9901 | €8,774 | €4,596 | -€4,178 | -47.6% |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.3% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.3% |
| Financial charges | 65/66B | €1,597 | €1,781 | +€184 | +11.5% |
| Recurring financial charges | 65 | €1,597 | €1,781 | +€184 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | €7,180 | €2,815 | -€4,366 | -60.8% |
| Income taxes | 67/77 | €2,043 | €1,991 | -€52 | -2.5% |
| Profit (loss) for the period | 9904 | €5,137 | €824 | -€4,313 | -84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,137 | €824 | -€4,313 | -84.0% |
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 25 October 2026 via checked.be.