ESMO: 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.
ESMO
Largest movements
- Receivables within one year +€7,194
up €7,194 (+328%), from €2,195 to €9,389
of which Other amounts receivable: +€5,839
- Tangible fixed assets -€6,402
down €6,402 (-6.1%), from €104,395 to €97,993
- Cash -€1,938
down €1,938 (-16.8%), from €11,510 to €9,571
mainly Contributions, distributions and other (-€19,169) and Receivables within one year (-€7,194)
- Other debts +€15,175
up €15,175 (+83.7%), from €18,123 to €33,298
- Reserves -€13,104
no longer reported in 2025 (was €13,104)
- Debts after one year -€7,121
down €7,121 (-9.5%), from €74,765 to €67,645
- Tax, wage and social debts +€4,216
up €4,216 (+538%), from €784 to €4,999
of which Taxes: +€4,077
- Trade debts -€1,542
down €1,542 (-76.9%), from €2,005 to €463
- Gross operating margin -€3,612
down €3,612 (-15.7%), from €23,041 to €19,428
- Financial charges +€1,091
up €1,091 (+86.0%), from €1,269 to €2,360
- Taxes -€339
down €339 (-12.2%), from €2,787 to €2,448
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 | €118,841 | €117,361 | -€1,480 | -1.2% |
| Formation expenses | 20 | €348 | - | -€348 | |
| Fixed assets | 21/28 | €104,395 | €97,993 | -€6,402 | -6.1% |
| Tangible fixed assets | 22/27 | €104,395 | €97,993 | -€6,402 | -6.1% |
| Land and buildings | 22 | €104,395 | €97,993 | -€6,402 | -6.1% |
| Current assets | 29/58 | €14,098 | €19,368 | +€5,270 | +37.4% |
| Amounts receivable within one year | 40/41 | €2,195 | €9,389 | +€7,194 | +328% |
| Trade receivables | 40 | €482 | €1,838 | +€1,355 | +281% |
| Other amounts receivable | 41 | €1,713 | €7,552 | +€5,839 | +341% |
| Cash at bank and in hand | 54/58 | €11,510 | €9,571 | -€1,938 | -16.8% |
| Deferred charges and accrued income | 490/1 | €393 | €407 | +€14 | +3.4% |
| Total equity and liabilities | 10/49 | €118,841 | €117,361 | -€1,480 | -1.2% |
| Equity | 10/15 | €16,104 | €3,000 | -€13,104 | -81.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €13,104 | - | -€13,104 | |
| Distributable reserves | 133 | €13,104 | - | -€13,104 | |
| Amounts payable | 17/49 | €102,737 | €114,361 | +€11,624 | +11.3% |
| Amounts payable after more than one year | 17 | €74,765 | €67,645 | -€7,121 | -9.5% |
| Financial debts | 170/4 | €74,765 | €67,645 | -€7,121 | -9.5% |
| Amounts payable within one year | 42/48 | €27,943 | €45,881 | +€17,938 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | €7,031 | €7,121 | +€90 | +1.3% |
| Trade debts | 44 | €2,005 | €463 | -€1,542 | -76.9% |
| Suppliers | 440/4 | €2,005 | €463 | -€1,542 | -76.9% |
| Taxes, remuneration and social security | 45 | €784 | €4,999 | +€4,216 | +538% |
| Taxes | 450/3 | €784 | €4,861 | +€4,077 | +520% |
| Remuneration and social security | 454/9 | - | €138 | +€138 | |
| Other amounts payable | 47/48 | €18,123 | €33,298 | +€15,175 | +83.7% |
| Accrued charges and deferred income | 492/3 | €28 | €835 | +€807 | +2,884% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,885 | €6,750 | -€135 | -2.0% |
| Other operating charges | 640/8 | €1,640 | €1,805 | +€165 | +10.1% |
| Gross operating margin | 9900 | €23,041 | €19,428 | -€3,612 | -15.7% |
| Operating profit (loss) | 9901 | €14,516 | €10,874 | -€3,643 | -25.1% |
| Financial charges | 65/66B | €1,269 | €2,360 | +€1,091 | +86.0% |
| Recurring financial charges | 65 | €1,269 | €2,360 | +€1,091 | +86.0% |
| Profit (loss) for the period before taxes | 9903 | €13,247 | €8,513 | -€4,734 | -35.7% |
| Income taxes | 67/77 | €2,787 | €2,448 | -€339 | -12.2% |
| Profit (loss) for the period | 9904 | €10,460 | €6,065 | -€4,395 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,460 | €6,065 | -€4,395 | -42.0% |
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 13 October 2026 via checked.be.