ESE: 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.
What changed
ESE
NACE 43.211, General electrical installation work
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€2.3m
2023 · €992-€2.3m
Equity
-€112,189
2023 · €2.1m-€2.3m
Cash
€759,280
2023 · €138,055+€621,225
Balance sheet total
€9.3m
2023 · €11.6m-€2.3m
Largest movements
Assets
- Stocks and contracts -€2.7m
down €2.7m (-45.9%), from €5.9m to €3.2m
of which Stocks: -€1.7m
- Cash +€621,225
up €621,225 (+450%), from €138,055 to €759,280
mainly Stocks and contracts (+€2.7m) and Other debts (+€1.3m)
- Receivables within one year -€334,727
down €334,727 (-6.4%), from €5.2m to €4.9m
of which Other amounts receivable: -€810,412
Equity and liabilities
- Reserves -€2.0m
down €2.0m (-100%), from €2.0m to €0
- Other debts +€1.3m
up €1.3m (+595%), from €216,552 to €1.5m
- Trade debts -€920,359
down €920,359 (-29.5%), from €3.1m to €2.2m
- Short-term financial debts -€830,000
down €830,000 (-20.9%), from €4.0m to €3.2m
- Debts after one year +€700,773
up €700,773 (+1,332%), from €52,607 to €753,379
Income statement
- Turnover -€15.0m
down €15.0m (-52.9%), from €28.3m to €13.3m
- Goods and materials -€13.9m
down €13.9m (-61.5%), from €22.6m to €8.7m
of which Purchases: -€15.3m
- Services and other goods -€785,981
down €785,981 (-21.3%), from €3.7m to €2.9m
From the 2023 result to the 2024 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.
Result 2023
€992
Turnover
-€15.0m
Other operating income
-€67,028
Goods and materials
+€13.9m
Services and other goods
+€785,981
Staff costs
+€184,227
Depreciation
-€15,719
Write-downs
-€83,552
Provisions
-€17,658
Other operating charges
+€124,521
Other operating items
-€2.1m
Financial income
+€34,168
Financial charges
+€14,058
Taxes
+€30,804
Result 2024
-€2.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€808,233
Investment
-€126,871
Financing
-€60,137
Cash 2023
€138,055
From operations (derived)
+€808,233
Net result for the year
-€2.3m
Depreciation
+€116,590
Stocks and contracts
+€2.7m
Receivables within one year
+€334,727
Deferred charges and accrued income
-€88,263
Provisions
+€65,215
Trade debts
-€920,359
Tax, wage and social debts
-€430,152
Advances received
-€26,251
Other debts
+€1.3m
Accrued charges and deferred income
+€7,234
Investment (derived)
-€126,871
Investment in fixed assets (net)
-€126,871
Financing
-€60,137
Debts after one year
+€700,773
Current portion of long-term debt
+€69,091
Short-term financial debts
-€830,000
Cash 2024
€759,280
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,591,130 | €9,265,956 | -€2.3m | -20.1% |
| Fixed assets | 21/28 | €274,012 | €284,293 | +€10,281 | +3.8% |
| Intangible fixed assets | 21 | €2,316 | €103,701 | +€101,385 | +4,377% |
| Tangible fixed assets | 22/27 | €267,561 | €176,457 | -€91,104 | -34.0% |
| Plant, machinery and equipment | 23 | €22,465 | €18,606 | -€3,860 | -17.2% |
| Furniture and vehicles | 24 | €181,184 | €97,742 | -€83,443 | -46.1% |
| Leasing and similar rights | 25 | €63,911 | €60,110 | -€3,801 | -5.9% |
| Financial fixed assets | 28 | €4,135 | €4,135 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,135 | €4,135 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,135 | €4,135 | = | 0.0% |
| Current assets | 29/58 | €11,317,118 | €8,981,662 | -€2.3m | -20.6% |
| Stocks and contracts in progress | 3 | €5,900,408 | €3,190,192 | -€2.7m | -45.9% |
| Stocks | 30/36 | €4,235,221 | €2,521,406 | -€1.7m | -40.5% |
| Goods purchased for resale | 34 | €4,235,221 | €2,521,406 | -€1.7m | -40.5% |
| Contracts in progress | 37 | €1,665,187 | €668,786 | -€996,401 | -59.8% |
| Amounts receivable within one year | 40/41 | €5,216,694 | €4,881,967 | -€334,727 | -6.4% |
| Trade receivables | 40 | €3,357,980 | €3,833,666 | +€475,686 | +14.2% |
| Other amounts receivable | 41 | €1,858,714 | €1,048,301 | -€810,412 | -43.6% |
| Cash at bank and in hand | 54/58 | €138,055 | €759,280 | +€621,225 | +450% |
| Deferred charges and accrued income | 490/1 | €61,961 | €150,224 | +€88,263 | +142% |
| Total equity and liabilities | 10/49 | €11,591,130 | €9,265,956 | -€2.3m | -20.1% |
| Equity | 10/15 | €2,137,918 | -€112,189 | -€2.3m | |
| Contributions | 10/11 | €182,500 | €182,500 | = | 0.0% |
| Reserves | 13 | €1,950,000 | €0 | -€2.0m | -100% |
| Distributable reserves | 133 | €1,950,000 | €0 | -€2.0m | -100% |
| Profit (loss) carried forward | 14 | €5,418 | -€294,689 | -€300,107 | |
| Provisions and deferred taxes | 16 | €369,619 | €434,834 | +€65,215 | +17.6% |
| Provisions for liabilities and charges | 160/5 | €369,619 | €434,834 | +€65,215 | +17.6% |
| Other liabilities and charges | 164/5 | €369,619 | €434,834 | +€65,215 | +17.6% |
| Amounts payable | 17/49 | €9,083,592 | €8,943,310 | -€140,282 | -1.5% |
| Amounts payable after more than one year | 17 | €52,607 | €753,379 | +€700,773 | +1,332% |
| Financial debts | 170/4 | €52,607 | €753,379 | +€700,773 | +1,332% |
| Leasing and similar obligations | 172 | €39,008 | €39,517 | +€509 | +1.3% |
| Credit institutions | 173 | €13,599 | €3,863 | -€9,736 | -71.6% |
| Other loans | 174 | - | €710,000 | +€710,000 | |
| Amounts payable within one year | 42/48 | €8,986,303 | €8,138,014 | -€848,289 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €87,308 | €156,398 | +€69,091 | +79.1% |
| Financial debts | 43 | €3,980,000 | €3,150,000 | -€830,000 | -20.9% |
| Credit institutions | 430/8 | €3,980,000 | €3,150,000 | -€830,000 | -20.9% |
| Trade debts | 44 | €3,120,418 | €2,200,059 | -€920,359 | -29.5% |
| Suppliers | 440/4 | €3,120,418 | €2,200,059 | -€920,359 | -29.5% |
| Advances received on contracts in progress | 46 | €848,068 | €821,817 | -€26,251 | -3.1% |
| Taxes, remuneration and social security | 45 | €733,958 | €303,806 | -€430,152 | -58.6% |
| Taxes | 450/3 | €339,498 | €48,205 | -€291,293 | -85.8% |
| Remuneration and social security | 454/9 | €394,460 | €255,600 | -€138,859 | -35.2% |
| Other amounts payable | 47/48 | €216,552 | €1,505,934 | +€1.3m | +595% |
| Accrued charges and deferred income | 492/3 | €44,683 | €51,917 | +€7,234 | +16.2% |
| Operating income | 70/76A | €29,770,392 | €12,528,687 | -€17.2m | -57.9% |
| Turnover | 70 | €28,318,793 | €13,336,719 | -€15.0m | -52.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,313,580 | -€996,401 | -€2.3m | |
| Own construction capitalised | 72 | - | €105,776 | +€105,776 | |
| Other operating income | 74 | €136,519 | €69,491 | -€67,028 | -49.1% |
| Non-recurring operating income | 76A | €1,500 | €13,103 | +€11,603 | +774% |
| Operating charges | 60/66A | €29,528,550 | €14,616,973 | -€14.9m | -50.5% |
| Goods for resale, raw materials and consumables | 60 | €22,586,586 | €8,703,117 | -€13.9m | -61.5% |
| Purchases | 600/8 | €22,255,568 | €6,989,302 | -€15.3m | -68.6% |
| Change in stocks: decrease (increase) | 609 | €331,018 | €1,713,815 | +€1.4m | +418% |
| Services and other goods | 61 | €3,694,154 | €2,908,173 | -€785,981 | -21.3% |
| Remuneration, social security and pensions | 62 | €2,847,465 | €2,663,238 | -€184,227 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,871 | €116,590 | +€15,719 | +15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €83,552 | +€83,552 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €47,557 | €65,215 | +€17,658 | +37.1% |
| Other operating charges | 640/8 | €192,716 | €68,195 | -€124,521 | -64.6% |
| Non-recurring operating charges | 66A | €59,200 | €8,892 | -€50,308 | -85.0% |
| Operating profit (loss) | 9901 | €241,842 | -€2,088,286 | -€2.3m | |
| Financial income | 75/76B | €24,421 | €58,589 | +€34,168 | +140% |
| Recurring financial income | 75 | €24,421 | €58,589 | +€34,168 | +140% |
| Income from current assets | 751 | €20,784 | €57,311 | +€36,527 | +176% |
| Other financial income | 752/9 | €3,638 | €1,278 | -€2,360 | -64.9% |
| Financial charges | 65/66B | €232,999 | €218,941 | -€14,058 | -6.0% |
| Recurring financial charges | 65 | €232,999 | €218,941 | -€14,058 | -6.0% |
| Debt charges | 650 | €217,216 | €204,687 | -€12,529 | -5.8% |
| Other financial charges | 652/9 | €15,783 | €14,254 | -€1,529 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €33,264 | -€2,248,639 | -€2.3m | |
| Income taxes | 67/77 | €32,272 | €1,468 | -€30,804 | -95.5% |
| Taxes | 670/3 | €32,272 | €2,757 | -€29,515 | -91.5% |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,289 | +€1,289 | |
| Profit (loss) for the period | 9904 | €992 | -€2,250,107 | -€2.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €992 | -€2,250,107 | -€2.3m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.