ESL GROUP: 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.
ESL GROUP
Largest movements
- Receivables within one year +€46,508
up €46,508 (+95.9%), from €48,478 to €94,986
- Stocks and contracts +€37,379
up €37,379 (+29.4%), from €127,000 to €164,379
- Deferred charges and accrued income +€13,347
up €13,347 (+1674.7%), from €797 to €14,144
- Cash -€5,465
down €5,465 (-16.6%), from €32,871 to €27,406
mainly Receivables within one year (-€46,508) and Stocks and contracts (-€37,379)
- Other debts +€61,755
up €61,755 (+46.1%), from €133,921 to €195,676
- Trade debts +€23,762
up €23,762 (+97.8%), from €24,298 to €48,060
- Debts after one year +€5,021
up €5,021 (+11.8%), from €42,625 to €47,646
- Current portion of long-term debt -€3,815
down €3,815 (-13.8%), from €27,547 to €23,732
- Staff costs +€38,138
up €38,138 (+19.0%), from €200,650 to €238,788
- Other operating charges +€18,015
up €18,015 (+1384.7%), from €1,301 to €19,316
- Gross operating margin +€15,364
up €15,364 (+5.9%), from €259,714 to €275,078
- Financial income +€11,243
up €11,243 (+499.0%), from €2,253 to €13,496
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 | €277,879 | €369,549 | +€91,670 | +33.0% |
| Fixed assets | 21/28 | €68,733 | €68,634 | -€99 | -0.1% |
| Tangible fixed assets | 22/27 | €64,855 | €64,756 | -€99 | -0.2% |
| Plant, machinery and equipment | 23 | €25,214 | €15,447 | -€9,767 | -38.7% |
| Furniture and vehicles | 24 | €39,641 | €45,386 | +€5,745 | +14.5% |
| Other tangible fixed assets | 26 | - | €3,923 | +€3,923 | |
| Financial fixed assets | 28 | €3,878 | €3,878 | = | 0.0% |
| Current assets | 29/58 | €209,146 | €300,915 | +€91,769 | +43.9% |
| Stocks and contracts in progress | 3 | €127,000 | €164,379 | +€37,379 | +29.4% |
| Stocks | 30/36 | €127,000 | €164,379 | +€37,379 | +29.4% |
| Amounts receivable within one year | 40/41 | €48,478 | €94,986 | +€46,508 | +95.9% |
| Trade receivables | 40 | €48,478 | €94,986 | +€46,508 | +95.9% |
| Cash at bank and in hand | 54/58 | €32,871 | €27,406 | -€5,465 | -16.6% |
| Deferred charges and accrued income | 490/1 | €797 | €14,144 | +€13,347 | +1674.7% |
| Total equity and liabilities | 10/49 | €277,879 | €369,549 | +€91,670 | +33.0% |
| Equity | 10/15 | €5,088 | €6,486 | +€1,398 | +27.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €2,240 | €2,240 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,240 | €2,240 | = | 0.0% |
| Legal reserve | 130 | €2,240 | €2,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,152 | -€120,754 | +€1,398 | +1.1% |
| Amounts payable | 17/49 | €272,791 | €363,063 | +€90,272 | +33.1% |
| Amounts payable after more than one year | 17 | €42,625 | €47,646 | +€5,021 | +11.8% |
| Financial debts | 170/4 | €42,625 | €47,646 | +€5,021 | +11.8% |
| Amounts payable within one year | 42/48 | €230,166 | €315,417 | +€85,251 | +37.0% |
| Current portion of amounts payable after more than one year | 42 | €27,547 | €23,732 | -€3,815 | -13.8% |
| Trade debts | 44 | €24,298 | €48,060 | +€23,762 | +97.8% |
| Suppliers | 440/4 | €24,298 | €48,060 | +€23,762 | +97.8% |
| Taxes, remuneration and social security | 45 | €44,400 | €47,949 | +€3,549 | +8.0% |
| Taxes | 450/3 | €9,512 | €8,291 | -€1,221 | -12.8% |
| Remuneration and social security | 454/9 | €34,888 | €39,658 | +€4,770 | +13.7% |
| Other amounts payable | 47/48 | €133,921 | €195,676 | +€61,755 | +46.1% |
| Remuneration, social security and pensions | 62 | €200,650 | €238,788 | +€38,138 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,782 | €21,026 | -€756 | -3.5% |
| Other operating charges | 640/8 | €1,301 | €19,316 | +€18,015 | +1384.7% |
| Gross operating margin | 9900 | €259,714 | €275,078 | +€15,364 | +5.9% |
| Operating profit (loss) | 9901 | €35,981 | -€4,052 | -€40,033 | |
| Financial income | 75/76B | €2,253 | €13,496 | +€11,243 | +499.0% |
| Recurring financial income | 75 | €2,253 | €13,496 | +€11,243 | +499.0% |
| Financial charges | 65/66B | €7,600 | €7,681 | +€81 | +1.1% |
| Recurring financial charges | 65 | €7,600 | €7,681 | +€81 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €30,634 | €1,763 | -€28,871 | -94.2% |
| Income taxes | 67/77 | €337 | €365 | +€28 | +8.3% |
| Profit (loss) for the period | 9904 | €30,297 | €1,398 | -€28,899 | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,297 | €1,398 | -€28,899 | -95.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.