ESMC: 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.
ESMC
Largest movements
- Cash +€76,585
up €76,585 (+31.2%), from €245,487 to €322,072
mainly Net result for the year (+€103,635) and Debts after one year (+€26,712)
- Tangible fixed assets +€31,846
up €31,846 (+15.6%), from €203,613 to €235,459
of which Furniture and vehicles: +€45,590
- Receivables within one year +€23,705
up €23,705 (+77.0%), from €30,788 to €54,493
of which Other amounts receivable: +€15,861
- Current investments +€17,116
up €17,116 (+5.5%), from €312,500 to €329,616
- Reserves +€103,635
up €103,635 (+14.6%), from €709,820 to €813,455
- Debts after one year +€26,712
new in 2025: €26,712
- Tax, wage and social debts +€10,151
up €10,151 (+32.4%), from €31,289 to €41,440
- Gross operating margin +€26,293
up €26,293 (+18.9%), from €139,193 to €165,486
- Taxes +€11,189
up €11,189 (+35.1%), from €31,864 to €43,053
- Depreciation -€9,612
down €9,612 (-33.3%), from €28,905 to €19,293
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 | €797,375 | €944,128 | +€146,753 | +18.4% |
| Fixed assets | 21/28 | €204,213 | €236,059 | +€31,846 | +15.6% |
| Tangible fixed assets | 22/27 | €203,613 | €235,459 | +€31,846 | +15.6% |
| Land and buildings | 22 | €159,430 | €153,588 | -€5,842 | -3.7% |
| Furniture and vehicles | 24 | €11,128 | €56,718 | +€45,590 | +410% |
| Other tangible fixed assets | 26 | €33,055 | €25,152 | -€7,903 | -23.9% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €593,162 | €708,069 | +€114,907 | +19.4% |
| Amounts receivable within one year | 40/41 | €30,788 | €54,493 | +€23,705 | +77.0% |
| Trade receivables | 40 | €19,394 | €27,238 | +€7,845 | +40.4% |
| Other amounts receivable | 41 | €11,394 | €27,255 | +€15,861 | +139% |
| Current investments | 50/53 | €312,500 | €329,616 | +€17,116 | +5.5% |
| Cash at bank and in hand | 54/58 | €245,487 | €322,072 | +€76,585 | +31.2% |
| Deferred charges and accrued income | 490/1 | €4,387 | €1,888 | -€2,499 | -57.0% |
| Total equity and liabilities | 10/49 | €797,375 | €944,128 | +€146,753 | +18.4% |
| Equity | 10/15 | €759,820 | €863,455 | +€103,635 | +13.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €709,820 | €813,455 | +€103,635 | +14.6% |
| Distributable reserves | 133 | €709,820 | €813,455 | +€103,635 | +14.6% |
| Amounts payable | 17/49 | €37,555 | €80,673 | +€43,118 | +115% |
| Amounts payable after more than one year | 17 | - | €26,712 | +€26,712 | |
| Financial debts | 170/4 | - | €26,712 | +€26,712 | |
| Amounts payable within one year | 42/48 | €35,429 | €53,961 | +€18,532 | +52.3% |
| Current portion of amounts payable after more than one year | 42 | €3,572 | €8,288 | +€4,717 | +132% |
| Trade debts | 44 | €568 | €4,233 | +€3,665 | +645% |
| Suppliers | 440/4 | €568 | €4,233 | +€3,665 | +645% |
| Taxes, remuneration and social security | 45 | €31,289 | €41,440 | +€10,151 | +32.4% |
| Taxes | 450/3 | €31,289 | €41,440 | +€10,151 | +32.4% |
| Accrued charges and deferred income | 492/3 | €2,126 | €0 | -€2,126 | -100% |
| Non-recurring operating income | 76A | - | €11,646 | +€11,646 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,905 | €19,293 | -€9,612 | -33.3% |
| Other operating charges | 640/8 | €1,220 | €1,306 | +€86 | +7.0% |
| Gross operating margin | 9900 | €139,193 | €165,486 | +€26,293 | +18.9% |
| Operating profit (loss) | 9901 | €109,068 | €144,887 | +€35,819 | +32.8% |
| Financial income | 75/76B | €3,378 | €2,287 | -€1,091 | -32.3% |
| Recurring financial income | 75 | €3,378 | €2,287 | -€1,091 | -32.3% |
| Financial charges | 65/66B | €304 | €486 | +€182 | +59.7% |
| Recurring financial charges | 65 | €304 | €486 | +€182 | +59.7% |
| Profit (loss) for the period before taxes | 9903 | €112,141 | €146,688 | +€34,546 | +30.8% |
| Income taxes | 67/77 | €31,864 | €43,053 | +€11,189 | +35.1% |
| Profit (loss) for the period | 9904 | €80,277 | €103,635 | +€23,358 | +29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €80,277 | €103,635 | +€23,358 | +29.1% |
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 18 October 2026 via checked.be.