ESENOL: 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.
ESENOL
Largest movements
- Current investments +€92,822
up €92,822 (+23.2%), from €400,000 to €492,822
- Cash +€20,210
up €20,210 (+8.7%), from €232,928 to €253,139
mainly Net result for the year (+€149,541) and Other debts (+€45,598)
- Tangible fixed assets -€11,607
down €11,607 (-24.6%), from €47,170 to €35,563
of which Furniture and vehicles: -€10,604
- Reserves +€59,000
up €59,000 (+10.6%), from €555,860 to €614,860
- Other debts +€45,598
up €45,598 (+111.8%), from €40,802 to €86,400
- Debts after one year -€12,421
down €12,421 (-92.2%), from €13,478 to €1,057
- Gross operating margin +€35,536
up €35,536 (+18.7%), from €189,981 to €225,517
- Taxes +€10,376
up €10,376 (+18.5%), from €56,088 to €66,464
- Financial charges +€6,357
up €6,357 (+199.4%), from €3,188 to €9,544
of which Non-recurring financial charges: +€7,178
- Financial income -€4,812
down €4,812 (-25.6%), from €18,770 to €13,958
of which Non-recurring financial income: -€2,669
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 | €700,648 | €794,873 | +€94,225 | +13.4% |
| Fixed assets | 21/28 | €48,170 | €36,563 | -€11,607 | -24.1% |
| Tangible fixed assets | 22/27 | €47,170 | €35,563 | -€11,607 | -24.6% |
| Furniture and vehicles | 24 | €43,993 | €33,389 | -€10,604 | -24.1% |
| Other tangible fixed assets | 26 | €3,177 | €2,173 | -€1,003 | -31.6% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €652,479 | €758,310 | +€105,832 | +16.2% |
| Amounts receivable within one year | 40/41 | €15,951 | €11,844 | -€4,106 | -25.7% |
| Trade receivables | 40 | €13,223 | €7,041 | -€6,181 | -46.7% |
| Other amounts receivable | 41 | €2,728 | €4,803 | +€2,075 | +76.1% |
| Current investments | 50/53 | €400,000 | €492,822 | +€92,822 | +23.2% |
| Cash at bank and in hand | 54/58 | €232,928 | €253,139 | +€20,210 | +8.7% |
| Deferred charges and accrued income | 490/1 | €3,600 | €505 | -€3,095 | -86.0% |
| Total equity and liabilities | 10/49 | €700,648 | €794,873 | +€94,225 | +13.4% |
| Equity | 10/15 | €601,230 | €659,939 | +€58,708 | +9.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €555,860 | €614,860 | +€59,000 | +10.6% |
| Distributable reserves | 133 | €555,860 | €614,860 | +€59,000 | +10.6% |
| Profit (loss) carried forward | 14 | €32,970 | €32,679 | -€292 | -0.9% |
| Amounts payable | 17/49 | €99,418 | €134,934 | +€35,516 | +35.7% |
| Amounts payable after more than one year | 17 | €13,478 | €1,057 | -€12,421 | -92.2% |
| Financial debts | 170/4 | €13,478 | €1,057 | -€12,421 | -92.2% |
| Amounts payable within one year | 42/48 | €85,940 | €133,111 | +€47,170 | +54.9% |
| Current portion of amounts payable after more than one year | 42 | €25,483 | €25,902 | +€419 | +1.6% |
| Trade debts | 44 | €12 | €24 | +€12 | +100.0% |
| Suppliers | 440/4 | €12 | €24 | +€12 | +100.0% |
| Taxes, remuneration and social security | 45 | €19,643 | €20,785 | +€1,141 | +5.8% |
| Taxes | 450/3 | €19,643 | €20,785 | +€1,141 | +5.8% |
| Other amounts payable | 47/48 | €40,802 | €86,400 | +€45,598 | +111.8% |
| Accrued charges and deferred income | 492/3 | - | €767 | +€767 | |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,832 | €12,196 | +€364 | +3.1% |
| Other operating charges | 640/8 | €1,469 | €1,730 | +€261 | +17.7% |
| Gross operating margin | 9900 | €189,981 | €225,517 | +€35,536 | +18.7% |
| Operating profit (loss) | 9901 | €176,681 | €211,592 | +€34,911 | +19.8% |
| Financial income | 75/76B | €18,770 | €13,958 | -€4,812 | -25.6% |
| Recurring financial income | 75 | €16,101 | €13,958 | -€2,143 | -13.3% |
| Non-recurring financial income | 76B | €2,669 | - | -€2,669 | |
| Financial charges | 65/66B | €3,188 | €9,544 | +€6,357 | +199.4% |
| Recurring financial charges | 65 | €3,188 | €2,367 | -€821 | -25.7% |
| Non-recurring financial charges | 66B | - | €7,178 | +€7,178 | |
| Profit (loss) for the period before taxes | 9903 | €192,263 | €216,005 | +€23,742 | +12.3% |
| Income taxes | 67/77 | €56,088 | €66,464 | +€10,376 | +18.5% |
| Profit (loss) for the period | 9904 | €136,175 | €149,541 | +€13,366 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €136,175 | €149,541 | +€13,366 | +9.8% |
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 8 October 2026 via checked.be.