ESEN: 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.
ESEN
Largest movements
- Tangible fixed assets -€30,312
down €30,312 (-30.2%), from €100,344 to €70,032
- Cash -€16,662
down €16,662 (-15.1%), from €110,491 to €93,829
mainly Other debts (-€29,703) and Debts after one year (-€17,452)
- Receivables within one year +€3,697
up €3,697 (+61.4%), from €6,023 to €9,720
of which Trade receivables: +€3,697
- Other debts -€29,703
down €29,703 (-64.0%), from €46,389 to €16,686
- Debts after one year -€17,452
no longer reported in 2025 (was €17,452)
- Current portion of long-term debt -€13,950
down €13,950 (-70.1%), from €19,903 to €5,954
- Profit (loss) carried forward +€9,935
up €9,935 (+9.9%), from €100,426 to €110,362
- Trade debts +€8,172
up €8,172 (+175.1%), from €4,666 to €12,838
- Gross operating margin -€18,748
down €18,748 (-29.1%), from €64,344 to €45,596
- Staff costs -€10,523
down €10,523 (-29.0%), from €36,350 to €25,826
- Depreciation -€6,204
down €6,204 (-62.6%), from €9,916 to €3,712
- Taxes -€2,331
down €2,331 (-42.8%), from €5,445 to €3,114
- Financial income +€1,049
up €1,049 (+147.3%), from €712 to €1,762
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 | €221,588 | €178,353 | -€43,236 | -19.5% |
| Fixed assets | 21/28 | €101,026 | €70,714 | -€30,312 | -30.0% |
| Tangible fixed assets | 22/27 | €100,344 | €70,032 | -€30,312 | -30.2% |
| Land and buildings | 22 | €100,344 | €70,032 | -€30,312 | -30.2% |
| Financial fixed assets | 28 | €682 | €682 | = | 0.0% |
| Current assets | 29/58 | €120,562 | €107,638 | -€12,924 | -10.7% |
| Stocks and contracts in progress | 3 | €1,378 | €1,799 | +€421 | +30.6% |
| Stocks | 30/36 | €1,378 | €1,799 | +€421 | +30.6% |
| Amounts receivable within one year | 40/41 | €6,023 | €9,720 | +€3,697 | +61.4% |
| Trade receivables | 40 | €1,045 | €4,742 | +€3,697 | +353.7% |
| Other amounts receivable | 41 | €4,978 | €4,978 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €110,491 | €93,829 | -€16,662 | -15.1% |
| Deferred charges and accrued income | 490/1 | €2,670 | €2,291 | -€380 | -14.2% |
| Total equity and liabilities | 10/49 | €221,588 | €178,353 | -€43,236 | -19.5% |
| Equity | 10/15 | €127,426 | €137,362 | +€9,935 | +7.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Outside capital | 11 | €25,000 | €25,000 | = | 0.0% |
| Other | 1109/19 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,426 | €110,362 | +€9,935 | +9.9% |
| Amounts payable | 17/49 | €94,162 | €40,991 | -€53,171 | -56.5% |
| Amounts payable after more than one year | 17 | €17,452 | - | -€17,452 | |
| Financial debts | 170/4 | €17,452 | - | -€17,452 | |
| Amounts payable within one year | 42/48 | €76,710 | €40,991 | -€35,719 | -46.6% |
| Current portion of amounts payable after more than one year | 42 | €19,903 | €5,954 | -€13,950 | -70.1% |
| Trade debts | 44 | €4,666 | €12,838 | +€8,172 | +175.1% |
| Suppliers | 440/4 | €4,666 | €12,838 | +€8,172 | +175.1% |
| Taxes, remuneration and social security | 45 | €5,751 | €5,513 | -€238 | -4.1% |
| Taxes | 450/3 | €334 | €3,208 | +€2,874 | +860.0% |
| Remuneration and social security | 454/9 | €5,417 | €2,305 | -€3,112 | -57.4% |
| Other amounts payable | 47/48 | €46,389 | €16,686 | -€29,703 | -64.0% |
| Remuneration, social security and pensions | 62 | €36,350 | €25,826 | -€10,523 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,916 | €3,712 | -€6,204 | -62.6% |
| Other operating charges | 640/8 | €2,454 | €2,969 | +€514 | +21.0% |
| Gross operating margin | 9900 | €64,344 | €45,596 | -€18,748 | -29.1% |
| Operating profit (loss) | 9901 | €15,624 | €13,088 | -€2,536 | -16.2% |
| Financial income | 75/76B | €712 | €1,762 | +€1,049 | +147.3% |
| Recurring financial income | 75 | €712 | €1,762 | +€1,049 | +147.3% |
| Financial charges | 65/66B | €2,192 | €1,800 | -€391 | -17.9% |
| Recurring financial charges | 65 | €2,192 | €1,800 | -€391 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €14,144 | €13,049 | -€1,095 | -7.7% |
| Income taxes | 67/77 | €5,445 | €3,114 | -€2,331 | -42.8% |
| Profit (loss) for the period | 9904 | €8,700 | €9,935 | +€1,236 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,700 | €9,935 | +€1,236 | +14.2% |
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.