ESMERALDA: 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.
ESMERALDA
Largest movements
- Current investments -€250,000
down €250,000 (-43.7%), from €572,023 to €322,023
- Cash +€188,828
up €188,828 (+143%), from €131,654 to €320,481
mainly Current investments (+€250,000) and Depreciation (+€93,728)
- Tangible fixed assets +€37,023
up €37,023 (+2.2%), from €1.7m to €1.7m
of which Land and buildings: +€47,446
- Debts after one year -€53,685
down €53,685 (-8.2%), from €651,289 to €597,604
- Other debts +€28,301
up €28,301 (+2.8%), from €1.0m to €1.0m
- Accrued charges and deferred income -€26,136
down €26,136 (-58.5%), from €44,705 to €18,568
- Reserves +€25,562
up €25,562 (+7.2%), from €355,634 to €381,196
of which Distributable reserves: +€30,500
- Financial charges -€26,697
down €26,697 (-54.2%), from €49,225 to €22,528
- Gross operating margin -€23,517
down €23,517 (-9.8%), from €240,737 to €217,220
- Staff costs +€6,247
up €6,247 (+9.5%), from €65,619 to €71,866
- Depreciation -€5,009
down €5,009 (-5.1%), from €98,736 to €93,728
- Financial income +€4,192
up €4,192 (+49.2%), from €8,518 to €12,710
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 | €2,430,944 | €2,419,924 | -€11,020 | -0.5% |
| Fixed assets | 21/28 | €1,712,464 | €1,749,487 | +€37,023 | +2.2% |
| Tangible fixed assets | 22/27 | €1,712,214 | €1,749,237 | +€37,023 | +2.2% |
| Land and buildings | 22 | €1,677,060 | €1,724,506 | +€47,446 | +2.8% |
| Plant, machinery and equipment | 23 | €28,315 | €19,541 | -€8,774 | -31.0% |
| Furniture and vehicles | 24 | €6,839 | €5,190 | -€1,649 | -24.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €718,480 | €670,437 | -€48,043 | -6.7% |
| Stocks and contracts in progress | 3 | €1,236 | €562 | -€675 | -54.6% |
| Stocks | 30/36 | €1,236 | €562 | -€675 | -54.6% |
| Amounts receivable within one year | 40/41 | €13,567 | €27,371 | +€13,804 | +102% |
| Trade receivables | 40 | €12,966 | €22,547 | +€9,581 | +73.9% |
| Other amounts receivable | 41 | €601 | €4,824 | +€4,223 | +702% |
| Current investments | 50/53 | €572,023 | €322,023 | -€250,000 | -43.7% |
| Cash at bank and in hand | 54/58 | €131,654 | €320,481 | +€188,828 | +143% |
| Total equity and liabilities | 10/49 | €2,430,944 | €2,419,924 | -€11,020 | -0.5% |
| Equity | 10/15 | €602,744 | €628,603 | +€25,859 | +4.3% |
| Contributions | 10/11 | €246,840 | €246,840 | = | 0.0% |
| Capital | 10 | €246,840 | €246,840 | = | 0.0% |
| Issued capital | 100 | €246,840 | €246,840 | = | 0.0% |
| Reserves | 13 | €355,634 | €381,196 | +€25,562 | +7.2% |
| Non-distributable reserves | 130/1 | €20,685 | €22,306 | +€1,621 | +7.8% |
| Legal reserve | 130 | €20,685 | €22,306 | +€1,621 | +7.8% |
| Tax-exempt reserves | 132 | €116,449 | €109,890 | -€6,559 | -5.6% |
| Distributable reserves | 133 | €218,500 | €249,000 | +€30,500 | +14.0% |
| Profit (loss) carried forward | 14 | €269 | €567 | +€298 | +111% |
| Provisions and deferred taxes | 16 | €29,112 | €27,473 | -€1,640 | -5.6% |
| Deferred taxes | 168 | €29,112 | €27,473 | -€1,640 | -5.6% |
| Amounts payable | 17/49 | €1,799,088 | €1,763,848 | -€35,239 | -2.0% |
| Amounts payable after more than one year | 17 | €651,289 | €597,604 | -€53,685 | -8.2% |
| Financial debts | 170/4 | €651,289 | €597,604 | -€53,685 | -8.2% |
| Amounts payable within one year | 42/48 | €1,103,094 | €1,147,677 | +€44,582 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €55,702 | €56,257 | +€555 | +1.0% |
| Trade debts | 44 | €10,349 | €8,012 | -€2,337 | -22.6% |
| Suppliers | 440/4 | €10,349 | €8,012 | -€2,337 | -22.6% |
| Taxes, remuneration and social security | 45 | €27,591 | €45,655 | +€18,064 | +65.5% |
| Taxes | 450/3 | €11,184 | €28,025 | +€16,841 | +151% |
| Remuneration and social security | 454/9 | €16,407 | €17,629 | +€1,222 | +7.4% |
| Other amounts payable | 47/48 | €1,009,452 | €1,037,753 | +€28,301 | +2.8% |
| Accrued charges and deferred income | 492/3 | €44,705 | €18,568 | -€26,136 | -58.5% |
| Non-recurring operating income | 76A | €34,159 | - | -€34,159 | |
| Remuneration, social security and pensions | 62 | €65,619 | €71,866 | +€6,247 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,736 | €93,728 | -€5,009 | -5.1% |
| Other operating charges | 640/8 | €10,341 | €10,487 | +€146 | +1.4% |
| Gross operating margin | 9900 | €240,737 | €217,220 | -€23,517 | -9.8% |
| Operating profit (loss) | 9901 | €66,041 | €41,140 | -€24,901 | -37.7% |
| Financial income | 75/76B | €8,518 | €12,710 | +€4,192 | +49.2% |
| Recurring financial income | 75 | €8,518 | €12,710 | +€4,192 | +49.2% |
| Financial charges | 65/66B | €49,225 | €22,528 | -€26,697 | -54.2% |
| Recurring financial charges | 65 | €49,225 | €22,528 | -€26,697 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | €25,334 | €31,322 | +€5,988 | +23.6% |
| Transfer from deferred taxes | 780 | €1,640 | €1,640 | -€0 | 0.0% |
| Income taxes | 67/77 | €7,858 | €7,102 | -€755 | -9.6% |
| Profit (loss) for the period | 9904 | €19,116 | €25,859 | +€6,743 | +35.3% |
| Transfer from tax-exempt reserves | 789 | €6,559 | €6,559 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,675 | €32,419 | +€6,743 | +26.3% |
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 24 October 2026 via checked.be.