ESER: 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.
ESER
Largest movements
- Receivables within one year +€33,508
up €33,508 (+75.8%), from €44,234 to €77,741
- Financial fixed assets +€15,800
up €15,800 (+79.4%), from €19,900 to €35,700
- Tangible fixed assets +€15,305
up €15,305 (+165.7%), from €9,236 to €24,541
of which Furniture and vehicles: +€15,531
- Deferred charges and accrued income +€7,650
up €7,650 (+481.4%), from €1,589 to €9,239
- Profit (loss) carried forward +€54,998
up €54,998 (+91.2%), from -€60,277 to -€5,279
- Tax, wage and social debts +€23,078
up €23,078 (+81.7%), from €28,257 to €51,335
of which Remuneration and social security: +€18,534
- Current portion of long-term debt +€12,000
new in 2025: €12,000
- Other debts -€9,764
down €9,764 (-26.3%), from €37,171 to €27,407
- Advances received -€5,000
no longer reported in 2025 (was €5,000)
- Gross operating margin +€125,174
up €125,174 (+151.1%), from €82,828 to €208,002
- Staff costs +€47,481
up €47,481 (+52.0%), from €91,345 to €138,825
- Financial charges -€8,296
down €8,296 (-82.3%), from €10,080 to €1,784
- Financial income -€6,778
down €6,778 (-100.0%), from €6,778 to €0
of which Non-recurring financial income: -€6,777
- Other operating charges -€2,201
down €2,201 (-40.7%), from €5,411 to €3,211
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 | €75,950 | €147,879 | +€71,929 | +94.7% |
| Fixed assets | 21/28 | €29,136 | €60,241 | +€31,105 | +106.8% |
| Tangible fixed assets | 22/27 | €9,236 | €24,541 | +€15,305 | +165.7% |
| Plant, machinery and equipment | 23 | €172 | €83 | -€89 | -51.5% |
| Furniture and vehicles | 24 | €7,798 | €23,329 | +€15,531 | +199.2% |
| Other tangible fixed assets | 26 | €1,266 | €1,129 | -€137 | -10.9% |
| Financial fixed assets | 28 | €19,900 | €35,700 | +€15,800 | +79.4% |
| Current assets | 29/58 | €46,814 | €87,639 | +€40,825 | +87.2% |
| Amounts receivable within one year | 40/41 | €44,234 | €77,741 | +€33,508 | +75.8% |
| Trade receivables | 40 | €44,234 | €77,741 | +€33,508 | +75.8% |
| Cash at bank and in hand | 54/58 | €991 | €658 | -€333 | -33.6% |
| Deferred charges and accrued income | 490/1 | €1,589 | €9,239 | +€7,650 | +481.4% |
| Total equity and liabilities | 10/49 | €75,950 | €147,879 | +€71,929 | +94.7% |
| Equity | 10/15 | -€57,777 | -€2,779 | +€54,998 | +95.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,277 | -€5,279 | +€54,998 | +91.2% |
| Amounts payable | 17/49 | €133,727 | €150,658 | +€16,931 | +12.7% |
| Amounts payable within one year | 42/48 | €131,880 | €149,738 | +€17,858 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | - | €12,000 | +€12,000 | |
| Financial debts | 43 | €9 | - | -€9 | |
| Credit institutions | 430/8 | €9 | - | -€9 | |
| Trade debts | 44 | €61,444 | €58,996 | -€2,447 | -4.0% |
| Suppliers | 440/4 | €61,444 | €58,996 | -€2,447 | -4.0% |
| Advances received on contracts in progress | 46 | €5,000 | - | -€5,000 | |
| Taxes, remuneration and social security | 45 | €28,257 | €51,335 | +€23,078 | +81.7% |
| Taxes | 450/3 | €22,076 | €26,621 | +€4,544 | +20.6% |
| Remuneration and social security | 454/9 | €6,180 | €24,714 | +€18,534 | +299.9% |
| Other amounts payable | 47/48 | €37,171 | €27,407 | -€9,764 | -26.3% |
| Accrued charges and deferred income | 492/3 | €1,847 | €920 | -€927 | -50.2% |
| Remuneration, social security and pensions | 62 | €91,345 | €138,825 | +€47,481 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,765 | €7,853 | +€1,087 | +16.1% |
| Other operating charges | 640/8 | €5,411 | €3,211 | -€2,201 | -40.7% |
| Non-recurring operating charges | 66A | €10,800 | €180 | -€10,620 | -98.3% |
| Gross operating margin | 9900 | €82,828 | €208,002 | +€125,174 | +151.1% |
| Operating profit (loss) | 9901 | -€31,494 | €57,933 | +€89,427 | |
| Financial income | 75/76B | €6,778 | €0 | -€6,778 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.7% |
| Non-recurring financial income | 76B | €6,777 | - | -€6,777 | |
| Financial charges | 65/66B | €10,080 | €1,784 | -€8,296 | -82.3% |
| Recurring financial charges | 65 | €10,080 | €1,784 | -€8,296 | -82.3% |
| Profit (loss) for the period before taxes | 9903 | -€34,796 | €56,149 | +€90,945 | |
| Income taxes | 67/77 | - | €1,151 | +€1,151 | |
| Profit (loss) for the period | 9904 | -€34,796 | €54,998 | +€89,794 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,796 | €54,998 | +€89,794 |
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 6 October 2026 via checked.be.