ESM-IM CONSULTING: what changed
Two financial 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.
ESM-IM CONSULTING
Largest movements
- Financial fixed assets -€913,439
no longer reported in 2025 (was €913,439)
- Receivables within one year -€456,502
down €456,502 (-51.8%), from €881,939 to €425,437
of which Other amounts receivable: -€260,554
- Cash -€357,893
down €357,893 (-90.1%), from €397,046 to €39,153
mainly Other debts (-€1.6m) and Net result for the year (-€156,796)
- Tangible fixed assets +€153,816
up €153,816 (+134%), from €114,706 to €268,523
of which Leasing and similar rights: +€152,202
- Other debts -€1.6m
down €1.6m (-97.4%), from €1.6m to €42,750
- Profit (loss) carried forward -€153,340
new in 2025: -€153,340
- Debts after one year +€111,138
up €111,138 (+134%), from €82,690 to €193,828
- Reserves -€48,457
down €48,457 (-9.1%), from €533,957 to €485,500
- Tax, wage and social debts +€43,888
up €43,888 (+595%), from €7,381 to €51,269
of which Taxes: +€32,909
- Staff costs +€122,224
up €122,224 (+287%), from €42,615 to €164,839
- Gross operating margin -€94,671
down €94,671 (-53.9%), from €175,709 to €81,038
- Depreciation +€40,880
up €40,880 (+672%), from €6,083 to €46,962
- Taxes -€36,816
down €36,816 (-94.1%), from €39,130 to €2,314
- Other operating charges +€13,530
up €13,530 (+1,067%), from €1,269 to €14,798
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.
Derived cash bridge
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 | €2,310,605 | €742,898 | -€1.6m | -67.8% |
| Fixed assets | 21/28 | €1,028,145 | €268,523 | -€759,623 | -73.9% |
| Tangible fixed assets | 22/27 | €114,706 | €268,523 | +€153,816 | +134% |
| Furniture and vehicles | 24 | €1,222 | €2,837 | +€1,614 | +132% |
| Leasing and similar rights | 25 | €113,484 | €265,686 | +€152,202 | +134% |
| Financial fixed assets | 28 | €913,439 | - | -€913,439 | |
| Current assets | 29/58 | €1,282,459 | €474,376 | -€808,084 | -63.0% |
| Amounts receivable within one year | 40/41 | €881,939 | €425,437 | -€456,502 | -51.8% |
| Trade receivables | 40 | €195,948 | - | -€195,948 | |
| Other amounts receivable | 41 | €685,991 | €425,437 | -€260,554 | -38.0% |
| Cash at bank and in hand | 54/58 | €397,046 | €39,153 | -€357,893 | -90.1% |
| Deferred charges and accrued income | 490/1 | €3,475 | €9,786 | +€6,311 | +182% |
| Total equity and liabilities | 10/49 | €2,310,605 | €742,898 | -€1.6m | -67.8% |
| Equity | 10/15 | €537,957 | €336,160 | -€201,796 | -37.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €533,957 | €485,500 | -€48,457 | -9.1% |
| Distributable reserves | 133 | €533,957 | €485,500 | -€48,457 | -9.1% |
| Profit (loss) carried forward | 14 | - | -€153,340 | -€153,340 | |
| Amounts payable | 17/49 | €1,772,648 | €406,738 | -€1.4m | -77.1% |
| Amounts payable after more than one year | 17 | €82,690 | €193,828 | +€111,138 | +134% |
| Financial debts | 170/4 | €82,690 | €193,828 | +€111,138 | +134% |
| Amounts payable within one year | 42/48 | €1,688,246 | €212,422 | -€1.5m | -87.4% |
| Current portion of amounts payable after more than one year | 42 | €35,299 | €66,191 | +€30,891 | +87.5% |
| Financial debts | 43 | - | €29,322 | +€29,322 | |
| Other loans | 439 | - | €29,322 | +€29,322 | |
| Trade debts | 44 | €18,291 | €22,890 | +€4,599 | +25.1% |
| Suppliers | 440/4 | €18,291 | €22,890 | +€4,599 | +25.1% |
| Taxes, remuneration and social security | 45 | €7,381 | €51,269 | +€43,888 | +595% |
| Taxes | 450/3 | - | €32,909 | +€32,909 | |
| Remuneration and social security | 454/9 | €7,381 | €18,360 | +€10,979 | +149% |
| Other amounts payable | 47/48 | €1,627,274 | €42,750 | -€1.6m | -97.4% |
| Accrued charges and deferred income | 492/3 | €1,712 | €488 | -€1,224 | -71.5% |
| Remuneration, social security and pensions | 62 | €42,615 | €164,839 | +€122,224 | +287% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,083 | €46,962 | +€40,880 | +672% |
| Other operating charges | 640/8 | €1,269 | €14,798 | +€13,530 | +1,067% |
| Gross operating margin | 9900 | €175,709 | €81,038 | -€94,671 | -53.9% |
| Operating profit (loss) | 9901 | €125,742 | -€145,562 | -€271,304 | |
| Financial charges | 65/66B | €3,516 | €8,920 | +€5,404 | +154% |
| Recurring financial charges | 65 | €3,516 | €8,920 | +€5,404 | +154% |
| Profit (loss) for the period before taxes | 9903 | €122,225 | -€154,482 | -€276,708 | |
| Income taxes | 67/77 | €39,130 | €2,314 | -€36,816 | -94.1% |
| Profit (loss) for the period | 9904 | €83,095 | -€156,796 | -€239,892 | |
| Profit (loss) for the period to be appropriated | 9905 | €83,095 | -€156,796 | -€239,892 |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.