ESDECO: 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.
ESDECO
Largest movements
- Receivables within one year +€14,419
up €14,419 (+20.4%), from €70,557 to €84,976
of which Other amounts receivable: +€14,396
- Cash -€3,952
down €3,952 (-18.1%), from €21,819 to €17,867
mainly Receivables within one year (-€14,419) and Other debts (-€178)
- Trade debts +€6,015
up €6,015 (+9.9%), from €60,730 to €66,746
- Accrued charges and deferred income +€2,911
new in 2025: €2,911
- Staff costs +€2,330
up €2,330 (+17.9%), from €13,003 to €15,334
- Gross operating margin +€1,427
up €1,427 (+9.1%), from €15,727 to €17,154
- Depreciation -€505
down €505 (-33.5%), from €1,505 to €1,000
- Other operating charges -€369
down €369 (-41.5%), from €888 to €519
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 | €97,565 | €106,921 | +€9,356 | +9.6% |
| Fixed assets | 21/28 | €4,050 | €3,050 | -€1,000 | -24.7% |
| Tangible fixed assets | 22/27 | €2,350 | €1,350 | -€1,000 | -42.6% |
| Plant, machinery and equipment | 23 | €2,350 | €1,350 | -€1,000 | -42.6% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €93,515 | €103,871 | +€10,357 | +11.1% |
| Amounts receivable within one year | 40/41 | €70,557 | €84,976 | +€14,419 | +20.4% |
| Trade receivables | 40 | €70,557 | €70,581 | +€23 | 0.0% |
| Other amounts receivable | 41 | - | €14,396 | +€14,396 | |
| Cash at bank and in hand | 54/58 | €21,819 | €17,867 | -€3,952 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,139 | €1,028 | -€111 | -9.7% |
| Total equity and liabilities | 10/49 | €97,565 | €106,921 | +€9,356 | +9.6% |
| Equity | 10/15 | €27,422 | €27,656 | +€233 | +0.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €14,761 | €14,761 | = | 0.0% |
| Distributable reserves | 133 | €14,761 | €14,761 | = | 0.0% |
| Profit (loss) carried forward | 14 | €262 | €495 | +€233 | +89.2% |
| Amounts payable | 17/49 | €70,142 | €79,265 | +€9,123 | +13.0% |
| Amounts payable within one year | 42/48 | €70,142 | €76,355 | +€6,212 | +8.9% |
| Trade debts | 44 | €60,730 | €66,746 | +€6,015 | +9.9% |
| Suppliers | 440/4 | €60,730 | €66,746 | +€6,015 | +9.9% |
| Taxes, remuneration and social security | 45 | €3,909 | €4,284 | +€375 | +9.6% |
| Taxes | 450/3 | €47 | €47 | +€0 | +0.4% |
| Remuneration and social security | 454/9 | €3,862 | €4,237 | +€375 | +9.7% |
| Other amounts payable | 47/48 | €5,503 | €5,325 | -€178 | -3.2% |
| Accrued charges and deferred income | 492/3 | - | €2,911 | +€2,911 | |
| Remuneration, social security and pensions | 62 | €13,003 | €15,334 | +€2,330 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,505 | €1,000 | -€505 | -33.5% |
| Other operating charges | 640/8 | €888 | €519 | -€369 | -41.5% |
| Gross operating margin | 9900 | €15,727 | €17,154 | +€1,427 | +9.1% |
| Operating profit (loss) | 9901 | €331 | €301 | -€30 | -9.1% |
| Financial income | 75/76B | €72 | €50 | -€21 | -30.0% |
| Recurring financial income | 75 | €72 | €50 | -€21 | -30.0% |
| Financial charges | 65/66B | €73 | €55 | -€17 | -23.8% |
| Recurring financial charges | 65 | €73 | €55 | -€17 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €330 | €295 | -€34 | -10.4% |
| Income taxes | 67/77 | €68 | €62 | -€6 | -9.1% |
| Profit (loss) for the period | 9904 | €262 | €233 | -€28 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €262 | €233 | -€28 | -10.8% |
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.