ESLU: 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.
ESLU
Largest movements
- Tangible fixed assets +€224,481
up €224,481 (+548.1%), from €40,954 to €265,434
of which Land and buildings: +€235,000
- Cash +€25,167
up €25,167 (+61.4%), from €40,972 to €66,139
mainly Debts after one year (+€192,795) and Depreciation (+€40,599)
- Receivables within one year -€21,090
down €21,090 (-59.3%), from €35,575 to €14,485
of which Trade receivables: -€21,856
- Debts after one year +€192,795
up €192,795 (+714.4%), from €26,988 to €219,783
- Current portion of long-term debt +€20,925
up €20,925 (+217.0%), from €9,645 to €30,570
- Reserves +€17,141
up €17,141 (+29.8%), from €57,513 to €74,654
- Depreciation +€28,212
up €28,212 (+227.8%), from €12,387 to €40,599
- Taxes -€7,484
down €7,484 (-57.9%), from €12,918 to €5,434
- Financial charges +€4,810
up €4,810 (+254.7%), from €1,888 to €6,698
- Gross operating margin -€4,080
down €4,080 (-5.5%), from €74,517 to €70,437
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 | €118,183 | €346,802 | +€228,619 | +193.4% |
| Fixed assets | 21/28 | €40,954 | €265,434 | +€224,481 | +548.1% |
| Tangible fixed assets | 22/27 | €40,954 | €265,434 | +€224,481 | +548.1% |
| Land and buildings | 22 | - | €235,000 | +€235,000 | |
| Plant, machinery and equipment | 23 | - | €1,867 | +€1,867 | |
| Furniture and vehicles | 24 | €40,954 | €28,567 | -€12,387 | -30.2% |
| Current assets | 29/58 | €77,230 | €81,368 | +€4,138 | +5.4% |
| Amounts receivable within one year | 40/41 | €35,575 | €14,485 | -€21,090 | -59.3% |
| Trade receivables | 40 | €33,956 | €12,100 | -€21,856 | -64.4% |
| Other amounts receivable | 41 | €1,619 | €2,385 | +€766 | +47.3% |
| Cash at bank and in hand | 54/58 | €40,972 | €66,139 | +€25,167 | +61.4% |
| Deferred charges and accrued income | 490/1 | €682 | €743 | +€61 | +8.9% |
| Total equity and liabilities | 10/49 | €118,183 | €346,802 | +€228,619 | +193.4% |
| Equity | 10/15 | €60,513 | €77,654 | +€17,141 | +28.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €57,513 | €74,654 | +€17,141 | +29.8% |
| Distributable reserves | 133 | €57,513 | €74,654 | +€17,141 | +29.8% |
| Amounts payable | 17/49 | €57,670 | €269,148 | +€211,478 | +366.7% |
| Amounts payable after more than one year | 17 | €26,988 | €219,783 | +€192,795 | +714.4% |
| Financial debts | 170/4 | €26,988 | €219,783 | +€192,795 | +714.4% |
| Amounts payable within one year | 42/48 | €30,360 | €48,996 | +€18,636 | +61.4% |
| Current portion of amounts payable after more than one year | 42 | €9,645 | €30,570 | +€20,925 | +217.0% |
| Trade debts | 44 | €1,312 | €704 | -€608 | -46.4% |
| Suppliers | 440/4 | €1,312 | €704 | -€608 | -46.4% |
| Taxes, remuneration and social security | 45 | €19,403 | €17,722 | -€1,681 | -8.7% |
| Taxes | 450/3 | €16,903 | €15,222 | -€1,681 | -9.9% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | - | €0 | +€0 | |
| Accrued charges and deferred income | 492/3 | €322 | €369 | +€47 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,387 | €40,599 | +€28,212 | +227.8% |
| Other operating charges | 640/8 | €232 | €565 | +€333 | +143.6% |
| Gross operating margin | 9900 | €74,517 | €70,437 | -€4,080 | -5.5% |
| Operating profit (loss) | 9901 | €61,898 | €29,273 | -€32,625 | -52.7% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | €1,888 | €6,698 | +€4,810 | +254.7% |
| Recurring financial charges | 65 | €1,888 | €6,698 | +€4,810 | +254.7% |
| Profit (loss) for the period before taxes | 9903 | €60,016 | €22,575 | -€37,441 | -62.4% |
| Income taxes | 67/77 | €12,918 | €5,434 | -€7,484 | -57.9% |
| Profit (loss) for the period | 9904 | €47,098 | €17,141 | -€29,957 | -63.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,098 | €17,141 | -€29,957 | -63.6% |
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 30 September 2026 via checked.be.