ESPACE D: 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.
ESPACE D
Largest movements
- Cash -€121,164
down €121,164 (-26.8%), from €452,314 to €331,150
mainly Other debts (-€368,863) and Contributions, distributions and other (-€116,756)
- Receivables within one year +€35,233
up €35,233 (+237%), from €14,840 to €50,073
of which Trade receivables: +€20,179
- Tangible fixed assets -€9,625
down €9,625 (-22.2%), from €43,383 to €33,758
- Other debts -€368,863
down €368,863 (-93.1%), from €396,166 to €27,303
- Accrued charges and deferred income +€236,850
new in 2025: €236,850
- Profit (loss) carried forward +€72,498
new in 2025: €72,498
- Advances received -€51,468
no longer reported in 2025 (was €51,468)
- Trade debts +€24,162
up €24,162 (+229%), from €10,550 to €34,712
- Gross operating margin +€111,317
up €111,317 (+57.5%), from €193,602 to €304,919
- Taxes +€32,699
up €32,699 (+93.6%), from €34,936 to €67,635
- Depreciation -€13,401
down €13,401 (-63.0%), from €21,275 to €7,874
- Other operating charges +€4,082
up €4,082 (+139%), from €2,934 to €7,016
- Staff costs +€4,016
up €4,016 (+13.1%), from €30,739 to €34,755
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 | €519,423 | €420,019 | -€99,404 | -19.1% |
| Fixed assets | 21/28 | €43,422 | €33,758 | -€9,664 | -22.3% |
| Tangible fixed assets | 22/27 | €43,383 | €33,758 | -€9,625 | -22.2% |
| Furniture and vehicles | 24 | €43,383 | €33,758 | -€9,625 | -22.2% |
| Financial fixed assets | 28 | €39 | - | -€39 | |
| Current assets | 29/58 | €476,001 | €386,261 | -€89,740 | -18.9% |
| Amounts receivable within one year | 40/41 | €14,840 | €50,073 | +€35,233 | +237% |
| Trade receivables | 40 | €4,122 | €24,301 | +€20,179 | +490% |
| Other amounts receivable | 41 | €10,718 | €25,772 | +€15,054 | +140% |
| Cash at bank and in hand | 54/58 | €452,314 | €331,150 | -€121,164 | -26.8% |
| Deferred charges and accrued income | 490/1 | €8,847 | €5,038 | -€3,809 | -43.1% |
| Total equity and liabilities | 10/49 | €519,423 | €420,019 | -€99,404 | -19.1% |
| Equity | 10/15 | €18,600 | €91,098 | +€72,498 | +390% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €72,498 | +€72,498 | |
| Amounts payable | 17/49 | €500,823 | €328,921 | -€171,902 | -34.3% |
| Amounts payable after more than one year | 17 | €17,639 | - | -€17,639 | |
| Financial debts | 170/4 | €17,639 | - | -€17,639 | |
| Amounts payable within one year | 42/48 | €483,184 | €92,071 | -€391,113 | -80.9% |
| Current portion of amounts payable after more than one year | 42 | €8,213 | - | -€8,213 | |
| Financial debts | 43 | €965 | - | -€965 | |
| Credit institutions | 430/8 | €965 | - | -€965 | |
| Trade debts | 44 | €10,550 | €34,712 | +€24,162 | +229% |
| Suppliers | 440/4 | €10,550 | €34,712 | +€24,162 | +229% |
| Advances received on contracts in progress | 46 | €51,468 | - | -€51,468 | |
| Taxes, remuneration and social security | 45 | €15,821 | €30,056 | +€14,235 | +90.0% |
| Taxes | 450/3 | €4,314 | €28,435 | +€24,121 | +559% |
| Remuneration and social security | 454/9 | €11,507 | €1,621 | -€9,886 | -85.9% |
| Other amounts payable | 47/48 | €396,166 | €27,303 | -€368,863 | -93.1% |
| Accrued charges and deferred income | 492/3 | - | €236,850 | +€236,850 | |
| Remuneration, social security and pensions | 62 | €30,739 | €34,755 | +€4,016 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,275 | €7,874 | -€13,401 | -63.0% |
| Other operating charges | 640/8 | €2,934 | €7,016 | +€4,082 | +139% |
| Gross operating margin | 9900 | €193,602 | €304,919 | +€111,317 | +57.5% |
| Operating profit (loss) | 9901 | €138,654 | €255,274 | +€116,620 | +84.1% |
| Financial income | 75/76B | €2,342 | €2,713 | +€371 | +15.8% |
| Recurring financial income | 75 | €2,342 | €2,713 | +€371 | +15.8% |
| Financial charges | 65/66B | €813 | €1,098 | +€285 | +35.0% |
| Recurring financial charges | 65 | €813 | €1,098 | +€285 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €140,183 | €256,889 | +€116,706 | +83.3% |
| Income taxes | 67/77 | €34,936 | €67,635 | +€32,699 | +93.6% |
| Profit (loss) for the period | 9904 | €105,247 | €189,254 | +€84,007 | +79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €105,247 | €189,254 | +€84,007 | +79.8% |
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 14 October 2026 via checked.be.