ESPACE ELEVEN: what changed
Two fiscal 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 ELEVEN
Largest movements
- Tangible fixed assets -€18,912
down €18,912 (-10.7%), from €176,129 to €157,217
- Cash +€8,695
up €8,695 (+177.7%), from €4,892 to €13,587
mainly Depreciation (+€18,912) and Current portion of long-term debt (+€14,933)
- Stocks and contracts +€7,540
up €7,540 (+75.4%), from €10,000 to €17,540
- Debts after one year -€32,362
down €32,362 (-17.6%), from €183,402 to €151,040
- Current portion of long-term debt +€14,933
new in 2025: €14,933
- Other debts +€13,511
up €13,511 (+420.1%), from €3,216 to €16,727
- Profit (loss) carried forward +€12,522
up €12,522 (+60.1%), from -€20,838 to -€8,316
- Trade debts -€9,039
down €9,039 (-99.6%), from €9,074 to €35
- Gross operating margin +€24,808
up €24,808 (+41.4%), from €59,948 to €84,756
- Staff costs +€10,766
up €10,766 (+30.7%), from €35,116 to €45,882
- Other operating charges +€1,361
up €1,361 (+531.6%), from €256 to €1,617
- Depreciation -€1,155
down €1,155 (-5.8%), from €20,067 to €18,912
- Financial charges -€872
down €872 (-15.8%), from €5,506 to €4,634
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 | €191,712 | €190,057 | -€1,655 | -0.9% |
| Fixed assets | 21/28 | €176,565 | €157,653 | -€18,912 | -10.7% |
| Tangible fixed assets | 22/27 | €176,129 | €157,217 | -€18,912 | -10.7% |
| Land and buildings | 22 | €176,129 | €157,217 | -€18,912 | -10.7% |
| Financial fixed assets | 28 | €436 | €436 | = | 0.0% |
| Current assets | 29/58 | €15,147 | €32,404 | +€17,257 | +113.9% |
| Stocks and contracts in progress | 3 | €10,000 | €17,540 | +€7,540 | +75.4% |
| Stocks | 30/36 | €10,000 | €17,540 | +€7,540 | +75.4% |
| Amounts receivable within one year | 40/41 | - | €986 | +€986 | |
| Trade receivables | 40 | - | €986 | +€986 | |
| Cash at bank and in hand | 54/58 | €4,892 | €13,587 | +€8,695 | +177.7% |
| Deferred charges and accrued income | 490/1 | €255 | €291 | +€36 | +14.1% |
| Total equity and liabilities | 10/49 | €191,712 | €190,057 | -€1,655 | -0.9% |
| Equity | 10/15 | -€19,162 | -€6,640 | +€12,522 | +65.3% |
| Contributions | 10/11 | €1,001 | €1,001 | = | 0.0% |
| Reserves | 13 | €675 | €675 | = | 0.0% |
| Non-distributable reserves | 130/1 | €150 | €150 | = | 0.0% |
| Reserves not available under the articles | 1311 | €150 | €150 | = | 0.0% |
| Tax-exempt reserves | 132 | €525 | €525 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,838 | -€8,316 | +€12,522 | +60.1% |
| Amounts payable | 17/49 | €210,874 | €196,697 | -€14,177 | -6.7% |
| Amounts payable after more than one year | 17 | €183,402 | €151,040 | -€32,362 | -17.6% |
| Financial debts | 170/4 | €183,402 | €151,040 | -€32,362 | -17.6% |
| Amounts payable within one year | 42/48 | €27,472 | €45,146 | +€17,674 | +64.3% |
| Current portion of amounts payable after more than one year | 42 | - | €14,933 | +€14,933 | |
| Trade debts | 44 | €9,074 | €35 | -€9,039 | -99.6% |
| Suppliers | 440/4 | €9,074 | €35 | -€9,039 | -99.6% |
| Taxes, remuneration and social security | 45 | €15,182 | €13,451 | -€1,731 | -11.4% |
| Taxes | 450/3 | €11,265 | €11,740 | +€475 | +4.2% |
| Remuneration and social security | 454/9 | €3,917 | €1,711 | -€2,206 | -56.3% |
| Other amounts payable | 47/48 | €3,216 | €16,727 | +€13,511 | +420.1% |
| Accrued charges and deferred income | 492/3 | - | €511 | +€511 | |
| Remuneration, social security and pensions | 62 | €35,116 | €45,882 | +€10,766 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,067 | €18,912 | -€1,155 | -5.8% |
| Other operating charges | 640/8 | €256 | €1,617 | +€1,361 | +531.6% |
| Non-recurring operating charges | 66A | €63 | €1,189 | +€1,126 | +1787.3% |
| Gross operating margin | 9900 | €59,948 | €84,756 | +€24,808 | +41.4% |
| Operating profit (loss) | 9901 | €4,446 | €17,156 | +€12,710 | +285.9% |
| Financial charges | 65/66B | €5,506 | €4,634 | -€872 | -15.8% |
| Recurring financial charges | 65 | €5,506 | €4,634 | -€872 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,060 | €12,522 | +€13,582 | |
| Profit (loss) for the period | 9904 | -€1,060 | €12,522 | +€13,582 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,060 | €12,522 | +€13,582 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.