ESE: 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.
ESE
Largest movements
- Receivables within one year -€93,069
down €93,069 (-2.9%), from €3.3m to €3.2m
of which Trade receivables: -€634,156
- Trade debts -€185,295
down €185,295 (-31.4%), from €589,378 to €404,083
- Profit (loss) carried forward +€168,283
new in 2025: €168,283
- Tax, wage and social debts -€66,036
down €66,036 (-38.6%), from €171,162 to €105,125
of which Taxes: -€75,940
- Staff costs +€68,242
up €68,242 (+51.0%), from €133,784 to €202,026
- Taxes +€56,699
up €56,699, from -€11,773 to €44,926
- Financial income -€50,943
down €50,943 (-31.6%), from €161,320 to €110,376
- Write-downs +€10,701
up €10,701, from -€5,650 to €5,051
- Financial charges +€8,055
up €8,055 (+222.4%), from €3,622 to €11,677
of which Non-recurring financial charges: +€6,161
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 | €3,272,093 | €3,191,918 | -€80,175 | -2.5% |
| Current assets | 29/58 | €3,272,093 | €3,191,918 | -€80,175 | -2.5% |
| Stocks and contracts in progress | 3 | €772 | €1,267 | +€495 | +64.1% |
| Stocks | 30/36 | €772 | €1,267 | +€495 | +64.1% |
| Amounts receivable within one year | 40/41 | €3,265,510 | €3,172,441 | -€93,069 | -2.9% |
| Trade receivables | 40 | €1,111,737 | €477,581 | -€634,156 | -57.0% |
| Other amounts receivable | 41 | €2,153,774 | €2,694,860 | +€541,086 | +25.1% |
| Cash at bank and in hand | 54/58 | €2,546 | €113 | -€2,433 | -95.6% |
| Deferred charges and accrued income | 490/1 | €3,265 | €18,097 | +€14,832 | +454.3% |
| Total equity and liabilities | 10/49 | €3,272,093 | €3,191,918 | -€80,175 | -2.5% |
| Equity | 10/15 | €2,471,006 | €2,639,288 | +€168,283 | +6.8% |
| Contributions | 10/11 | €179,723 | €179,723 | = | 0.0% |
| Capital | 10 | €179,723 | €179,723 | = | 0.0% |
| Issued capital | 100 | €179,723 | €179,723 | = | 0.0% |
| Reserves | 13 | €2,291,283 | €2,291,283 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,972 | €17,972 | = | 0.0% |
| Legal reserve | 130 | €17,972 | €17,972 | = | 0.0% |
| Distributable reserves | 133 | €2,273,310 | €2,273,310 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €168,283 | +€168,283 | |
| Amounts payable | 17/49 | €801,088 | €552,630 | -€248,458 | -31.0% |
| Amounts payable within one year | 42/48 | €760,540 | €509,209 | -€251,332 | -33.0% |
| Trade debts | 44 | €589,378 | €404,083 | -€185,295 | -31.4% |
| Suppliers | 440/4 | €589,378 | €404,083 | -€185,295 | -31.4% |
| Taxes, remuneration and social security | 45 | €171,162 | €105,125 | -€66,036 | -38.6% |
| Taxes | 450/3 | €135,335 | €59,395 | -€75,940 | -56.1% |
| Remuneration and social security | 454/9 | €35,827 | €45,731 | +€9,904 | +27.6% |
| Other amounts payable | 47/48 | €0 | - | -€0 | |
| Accrued charges and deferred income | 492/3 | €40,547 | €43,421 | +€2,874 | +7.1% |
| Non-recurring operating income | 76A | - | €277 | +€277 | |
| Remuneration, social security and pensions | 62 | €133,784 | €202,026 | +€68,242 | +51.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,650 | €5,051 | +€10,701 | |
| Other operating charges | 640/8 | €5,650 | €1,139 | -€4,511 | -79.8% |
| Non-recurring operating charges | 66A | €12,234 | - | -€12,234 | |
| Gross operating margin | 9900 | €328,141 | €322,726 | -€5,415 | -1.7% |
| Operating profit (loss) | 9901 | €182,123 | €114,510 | -€67,613 | -37.1% |
| Financial income | 75/76B | €161,320 | €110,376 | -€50,943 | -31.6% |
| Recurring financial income | 75 | €161,320 | €110,376 | -€50,943 | -31.6% |
| Financial charges | 65/66B | €3,622 | €11,677 | +€8,055 | +222.4% |
| Recurring financial charges | 65 | €3,622 | €5,516 | +€1,894 | +52.3% |
| Non-recurring financial charges | 66B | - | €6,161 | +€6,161 | |
| Profit (loss) for the period before taxes | 9903 | €339,821 | €213,209 | -€126,612 | -37.3% |
| Income taxes | 67/77 | -€11,773 | €44,926 | +€56,699 | |
| Profit (loss) for the period | 9904 | €351,593 | €168,283 | -€183,311 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €351,593 | €168,283 | -€183,311 | -52.1% |
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.