ESEDRA: 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.
ESEDRA
Largest movements
- Cash -€319,373
down €319,373 (-65.9%), from €484,926 to €165,553
mainly Net result for the year (-€145,834) and Receivables within one year (-€134,093)
- Receivables within one year +€134,093
up €134,093 (+22.0%), from €609,993 to €744,086
of which Trade receivables: +€217,214
- Tangible fixed assets -€56,647
down €56,647 (-3.3%), from €1.7m to €1.7m
of which Leasing and similar rights: -€42,314
- Deferred charges and accrued income +€47,884
up €47,884 (+34.4%), from €139,157 to €187,041
- Intangible fixed assets -€39,009
down €39,009 (-13.2%), from €295,266 to €256,257
- Profit (loss) carried forward -€145,834
down €145,834 (-8.7%), from €1.7m to €1.5m
- Tax, wage and social debts -€82,669
down €82,669 (-20.1%), from €410,478 to €327,809
of which Remuneration and social security: -€68,383
- Debts after one year -€81,021
down €81,021 (-18.0%), from €449,863 to €368,842
- Other debts +€73,319
up €73,319 (+46.7%), from €156,946 to €230,265
- Provisions -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin -€115,434
down €115,434 (-4.2%), from €2.8m to €2.6m
- Taxes -€108,309
down €108,309 (-88.1%), from €122,987 to €14,678
- Staff costs +€59,428
up €59,428 (+2.3%), from €2.6m to €2.6m
- Provisions -€50,000
new in 2025: -€50,000
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 | €3,278,199 | €3,045,146 | -€233,053 | -7.1% |
| Fixed assets | 21/28 | €2,044,123 | €1,948,466 | -€95,657 | -4.7% |
| Intangible fixed assets | 21 | €295,266 | €256,257 | -€39,009 | -13.2% |
| Tangible fixed assets | 22/27 | €1,733,136 | €1,676,489 | -€56,647 | -3.3% |
| Plant, machinery and equipment | 23 | €4,640 | €1,792 | -€2,847 | -61.4% |
| Furniture and vehicles | 24 | €91,335 | €76,048 | -€15,287 | -16.7% |
| Leasing and similar rights | 25 | €1,622,627 | €1,580,313 | -€42,314 | -2.6% |
| Other tangible fixed assets | 26 | €14,535 | €18,336 | +€3,800 | +26.1% |
| Financial fixed assets | 28 | €15,720 | €15,720 | = | 0.0% |
| Current assets | 29/58 | €1,234,076 | €1,096,679 | -€137,397 | -11.1% |
| Amounts receivable within one year | 40/41 | €609,993 | €744,086 | +€134,093 | +22.0% |
| Trade receivables | 40 | €524,409 | €741,624 | +€217,214 | +41.4% |
| Other amounts receivable | 41 | €85,583 | €2,462 | -€83,122 | -97.1% |
| Cash at bank and in hand | 54/58 | €484,926 | €165,553 | -€319,373 | -65.9% |
| Deferred charges and accrued income | 490/1 | €139,157 | €187,041 | +€47,884 | +34.4% |
| Total equity and liabilities | 10/49 | €3,278,199 | €3,045,146 | -€233,053 | -7.1% |
| Equity | 10/15 | €1,945,393 | €1,799,558 | -€145,834 | -7.5% |
| Contributions | 10/11 | €238,593 | €238,593 | = | 0.0% |
| Reserves | 13 | €23,859 | €23,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,859 | €23,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,859 | €23,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,682,940 | €1,537,106 | -€145,834 | -8.7% |
| Provisions and deferred taxes | 16 | €50,000 | - | -€50,000 | |
| Provisions for liabilities and charges | 160/5 | €50,000 | - | -€50,000 | |
| Other liabilities and charges | 164/5 | €50,000 | - | -€50,000 | |
| Amounts payable | 17/49 | €1,282,806 | €1,245,587 | -€37,219 | -2.9% |
| Amounts payable after more than one year | 17 | €449,863 | €368,842 | -€81,021 | -18.0% |
| Financial debts | 170/4 | €449,863 | €368,842 | -€81,021 | -18.0% |
| Amounts payable within one year | 42/48 | €832,943 | €876,745 | +€43,803 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €76,986 | €81,021 | +€4,036 | +5.2% |
| Trade debts | 44 | €188,534 | €237,651 | +€49,117 | +26.1% |
| Suppliers | 440/4 | €188,534 | €237,651 | +€49,117 | +26.1% |
| Taxes, remuneration and social security | 45 | €410,478 | €327,809 | -€82,669 | -20.1% |
| Taxes | 450/3 | €32,516 | €18,231 | -€14,286 | -43.9% |
| Remuneration and social security | 454/9 | €377,961 | €309,578 | -€68,383 | -18.1% |
| Other amounts payable | 47/48 | €156,946 | €230,265 | +€73,319 | +46.7% |
| Non-recurring operating income | 76A | - | €837 | +€837 | |
| Remuneration, social security and pensions | 62 | €2,582,385 | €2,641,813 | +€59,428 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,519 | €109,978 | -€4,541 | -4.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€50,000 | -€50,000 | |
| Other operating charges | 640/8 | €24,267 | €43,543 | +€19,277 | +79.4% |
| Gross operating margin | 9900 | €2,759,459 | €2,644,025 | -€115,434 | -4.2% |
| Operating profit (loss) | 9901 | €38,288 | -€101,309 | -€139,598 | |
| Financial income | 75/76B | €10,342 | €491 | -€9,851 | -95.2% |
| Recurring financial income | 75 | €10,342 | €491 | -€9,851 | -95.2% |
| Financial charges | 65/66B | €30,992 | €30,338 | -€654 | -2.1% |
| Recurring financial charges | 65 | €30,992 | €30,338 | -€654 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €17,638 | -€131,156 | -€148,795 | |
| Income taxes | 67/77 | €122,987 | €14,678 | -€108,309 | -88.1% |
| Profit (loss) for the period | 9904 | -€105,349 | -€145,834 | -€40,486 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€105,349 | -€145,834 | -€40,486 | -38.4% |
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 8 October 2026 via checked.be.