ESO MANAGEMENT: 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.
ESO MANAGEMENT
Largest movements
- Cash -€22,270
down €22,270 (-51.8%), from €43,009 to €20,740
mainly Contributions, distributions and other (-€60,000) and Tax, wage and social debts (-€1,491)
- Receivables within one year -€7,755
down €7,755 (-30.3%), from €25,578 to €17,823
of which Other amounts receivable: -€11,385
- Tangible fixed assets -€2,194
down €2,194 (-50.0%), from €4,387 to €2,194
- Reserves -€37,452
down €37,452 (-56.1%), from €66,759 to €29,307
- Other debts +€6,724
up €6,724 (+3090.3%), from €218 to €6,942
- Tax, wage and social debts -€1,491
down €1,491 (-82.9%), from €1,799 to €308
- Taxes -€1,141
down €1,141 (-14.8%), from €7,692 to €6,552
- Gross operating margin +€441
up €441 (+1.4%), from €31,338 to €31,779
- Other operating charges +€402
up €402 (+629.5%), from €64 to €465
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 | €72,974 | €40,757 | -€32,218 | -44.1% |
| Fixed assets | 21/28 | €4,387 | €2,194 | -€2,194 | -50.0% |
| Tangible fixed assets | 22/27 | €4,387 | €2,194 | -€2,194 | -50.0% |
| Furniture and vehicles | 24 | €4,387 | €2,194 | -€2,194 | -50.0% |
| Current assets | 29/58 | €68,587 | €38,563 | -€30,024 | -43.8% |
| Amounts receivable within one year | 40/41 | €25,578 | €17,823 | -€7,755 | -30.3% |
| Trade receivables | 40 | €8,470 | €12,100 | +€3,630 | +42.9% |
| Other amounts receivable | 41 | €17,108 | €5,723 | -€11,385 | -66.5% |
| Cash at bank and in hand | 54/58 | €43,009 | €20,740 | -€22,270 | -51.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €72,974 | €40,757 | -€32,218 | -44.1% |
| Equity | 10/15 | €70,759 | €33,307 | -€37,452 | -52.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €66,759 | €29,307 | -€37,452 | -56.1% |
| Distributable reserves | 133 | €66,759 | €29,307 | -€37,452 | -56.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,216 | €7,449 | +€5,234 | +236.2% |
| Amounts payable within one year | 42/48 | €2,216 | €7,449 | +€5,234 | +236.2% |
| Trade debts | 44 | €199 | €200 | +€1 | +0.4% |
| Suppliers | 440/4 | €199 | €200 | +€1 | +0.4% |
| Taxes, remuneration and social security | 45 | €1,799 | €308 | -€1,491 | -82.9% |
| Taxes | 450/3 | €1,799 | €308 | -€1,491 | -82.9% |
| Other amounts payable | 47/48 | €218 | €6,942 | +€6,724 | +3090.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,194 | €2,194 | = | 0.0% |
| Other operating charges | 640/8 | €64 | €465 | +€402 | +629.5% |
| Gross operating margin | 9900 | €31,338 | €31,779 | +€441 | +1.4% |
| Operating profit (loss) | 9901 | €29,080 | €29,120 | +€40 | +0.1% |
| Financial charges | 65/66B | €44 | €20 | -€24 | -54.0% |
| Recurring financial charges | 65 | €44 | €20 | -€24 | -54.0% |
| Profit (loss) for the period before taxes | 9903 | €29,037 | €29,100 | +€63 | +0.2% |
| Income taxes | 67/77 | €7,692 | €6,552 | -€1,141 | -14.8% |
| Profit (loss) for the period | 9904 | €21,345 | €22,548 | +€1,204 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,345 | €22,548 | +€1,204 | +5.6% |
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 12 October 2026 via checked.be.