ESINES: 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.
ESINES
Largest movements
- Receivables within one year +€70,210
up €70,210 (+121.6%), from €57,729 to €127,939
of which Trade receivables: +€51,060
- Cash +€64,504
up €64,504 (+176.6%), from €36,529 to €101,033
mainly Net result for the year (+€45,314) and Depreciation (+€36,091)
- Tangible fixed assets -€32,453
down €32,453 (-22.4%), from €144,901 to €112,448
of which Leasing and similar rights: -€18,226
- Stocks and contracts -€25,671
down €25,671 (-30.6%), from €83,796 to €58,126
- Deferred charges and accrued income -€11,495
down €11,495 (-86.4%), from €13,299 to €1,804
- Reserves +€45,314
up €45,314 (+32.8%), from €138,166 to €183,480
of which Distributable reserves: +€45,314
- Debts after one year -€27,327
down €27,327 (-31.8%), from €85,826 to €58,499
- Tax, wage and social debts +€23,534
up €23,534 (+120.4%), from €19,553 to €43,087
of which Taxes: +€23,895
- Trade debts +€22,921
up €22,921 (+55.5%), from €41,281 to €64,202
- Staff costs -€91,198
down €91,198 (-58.5%), from €155,773 to €64,575
- Gross operating margin -€68,078
down €68,078 (-28.4%), from €240,067 to €171,989
- Taxes +€5,653
up €5,653 (+43.4%), from €13,028 to €18,680
- Depreciation +€4,549
up €4,549 (+14.4%), from €31,542 to €36,091
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 | €336,254 | €401,349 | +€65,095 | +19.4% |
| Fixed assets | 21/28 | €144,901 | €112,448 | -€32,453 | -22.4% |
| Tangible fixed assets | 22/27 | €144,901 | €112,448 | -€32,453 | -22.4% |
| Land and buildings | 22 | €22,285 | €16,579 | -€5,706 | -25.6% |
| Plant, machinery and equipment | 23 | €14,056 | €12,627 | -€1,429 | -10.2% |
| Furniture and vehicles | 24 | €23,839 | €16,748 | -€7,092 | -29.7% |
| Leasing and similar rights | 25 | €84,720 | €66,495 | -€18,226 | -21.5% |
| Current assets | 29/58 | €191,353 | €288,901 | +€97,548 | +51.0% |
| Stocks and contracts in progress | 3 | €83,796 | €58,126 | -€25,671 | -30.6% |
| Stocks | 30/36 | €83,796 | €58,126 | -€25,671 | -30.6% |
| Amounts receivable within one year | 40/41 | €57,729 | €127,939 | +€70,210 | +121.6% |
| Trade receivables | 40 | €50,397 | €101,456 | +€51,060 | +101.3% |
| Other amounts receivable | 41 | €7,332 | €26,483 | +€19,150 | +261.2% |
| Cash at bank and in hand | 54/58 | €36,529 | €101,033 | +€64,504 | +176.6% |
| Deferred charges and accrued income | 490/1 | €13,299 | €1,804 | -€11,495 | -86.4% |
| Total equity and liabilities | 10/49 | €336,254 | €401,349 | +€65,095 | +19.4% |
| Equity | 10/15 | €156,766 | €202,080 | +€45,314 | +28.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €138,166 | €183,480 | +€45,314 | +32.8% |
| Tax-exempt reserves | 132 | €9,248 | €9,248 | = | 0.0% |
| Distributable reserves | 133 | €128,919 | €174,232 | +€45,314 | +35.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €179,487 | €199,269 | +€19,781 | +11.0% |
| Amounts payable after more than one year | 17 | €85,826 | €58,499 | -€27,327 | -31.8% |
| Financial debts | 170/4 | €85,826 | €58,499 | -€27,327 | -31.8% |
| Amounts payable within one year | 42/48 | €93,661 | €138,750 | +€45,089 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €32,827 | €31,386 | -€1,441 | -4.4% |
| Trade debts | 44 | €41,281 | €64,202 | +€22,921 | +55.5% |
| Suppliers | 440/4 | €41,281 | €64,202 | +€22,921 | +55.5% |
| Taxes, remuneration and social security | 45 | €19,553 | €43,087 | +€23,534 | +120.4% |
| Taxes | 450/3 | €7,480 | €31,375 | +€23,895 | +319.4% |
| Remuneration and social security | 454/9 | €12,073 | €11,712 | -€361 | -3.0% |
| Other amounts payable | 47/48 | €0 | €75 | +€75 | |
| Accrued charges and deferred income | 492/3 | - | €2,020 | +€2,020 | |
| Non-recurring operating income | 76A | - | €2,011 | +€2,011 | |
| Remuneration, social security and pensions | 62 | €155,773 | €64,575 | -€91,198 | -58.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,542 | €36,091 | +€4,549 | +14.4% |
| Other operating charges | 640/8 | €2,262 | €2,691 | +€430 | +19.0% |
| Gross operating margin | 9900 | €240,067 | €171,989 | -€68,078 | -28.4% |
| Operating profit (loss) | 9901 | €50,491 | €68,632 | +€18,141 | +35.9% |
| Financial income | 75/76B | €262 | €726 | +€464 | +177.1% |
| Recurring financial income | 75 | €262 | €726 | +€464 | +177.1% |
| Financial charges | 65/66B | €4,306 | €5,364 | +€1,058 | +24.6% |
| Recurring financial charges | 65 | €4,306 | €5,364 | +€1,058 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €46,446 | €63,994 | +€17,548 | +37.8% |
| Income taxes | 67/77 | €13,028 | €18,680 | +€5,653 | +43.4% |
| Profit (loss) for the period | 9904 | €33,419 | €45,314 | +€11,895 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,419 | €45,314 | +€11,895 | +35.6% |
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.