ESPACE INITIATIVES: 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 INITIATIVES
Largest movements
- Tangible fixed assets -€20,942
down €20,942 (-22.1%), from €94,726 to €73,784
of which Land and buildings: -€20,145
- Other debts +€38,841
up €38,841 (+9.4%), from €413,777 to €452,618
- Profit (loss) carried forward -€24,298
down €24,298 (-4.2%), from -€578,847 to -€603,145
- Current portion of long-term debt -€18,676
down €18,676 (-24.2%), from €77,163 to €58,487
- Debts after one year -€14,655
down €14,655 (-9.4%), from €156,257 to €141,602
of which Financial debts: -€14,655
- Trade debts -€2,404
down €2,404 (-26.6%), from €9,044 to €6,640
- Other operating charges -€5,863
down €5,863 (-42.8%), from €13,700 to €7,837
- Gross operating margin +€2,923
up €2,923 (+43.7%), from €6,683 to €9,606
- Depreciation -€1,074
down €1,074 (-4.9%), from €22,016 to €20,942
- Financial charges +€136
up €136 (+2.8%), from €4,912 to €5,048
- Taxes -€100
down €100 (-55.9%), from €179 to €79
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 | €97,583 | €76,433 | -€21,150 | -21.7% |
| Fixed assets | 21/28 | €94,801 | €73,859 | -€20,942 | -22.1% |
| Tangible fixed assets | 22/27 | €94,726 | €73,784 | -€20,942 | -22.1% |
| Land and buildings | 22 | €93,333 | €73,188 | -€20,145 | -21.6% |
| Furniture and vehicles | 24 | €1,393 | €596 | -€797 | -57.2% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €2,782 | €2,574 | -€208 | -7.5% |
| Amounts receivable within one year | 40/41 | €320 | - | -€320 | |
| Other amounts receivable | 41 | €320 | - | -€320 | |
| Cash at bank and in hand | 54/58 | €23 | €49 | +€26 | +113% |
| Deferred charges and accrued income | 490/1 | €2,439 | €2,525 | +€86 | +3.5% |
| Total equity and liabilities | 10/49 | €97,583 | €76,433 | -€21,150 | -21.7% |
| Equity | 10/15 | -€558,847 | -€583,145 | -€24,298 | -4.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€578,847 | -€603,145 | -€24,298 | -4.2% |
| Amounts payable | 17/49 | €656,430 | €659,578 | +€3,148 | +0.5% |
| Amounts payable after more than one year | 17 | €156,257 | €141,602 | -€14,655 | -9.4% |
| Financial debts | 170/4 | €76,257 | €61,602 | -€14,655 | -19.2% |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €500,173 | €517,976 | +€17,803 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €77,163 | €58,487 | -€18,676 | -24.2% |
| Trade debts | 44 | €9,044 | €6,640 | -€2,404 | -26.6% |
| Suppliers | 440/4 | €9,044 | €6,640 | -€2,404 | -26.6% |
| Taxes, remuneration and social security | 45 | €189 | €231 | +€42 | +22.2% |
| Taxes | 450/3 | €189 | €231 | +€42 | +22.2% |
| Other amounts payable | 47/48 | €413,777 | €452,618 | +€38,841 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,016 | €20,942 | -€1,074 | -4.9% |
| Other operating charges | 640/8 | €13,700 | €7,837 | -€5,863 | -42.8% |
| Gross operating margin | 9900 | €6,683 | €9,606 | +€2,923 | +43.7% |
| Operating profit (loss) | 9901 | -€29,033 | -€19,173 | +€9,860 | +34.0% |
| Financial income | 75/76B | €3 | €2 | -€1 | -33.3% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -33.3% |
| Financial charges | 65/66B | €4,912 | €5,048 | +€136 | +2.8% |
| Recurring financial charges | 65 | €4,912 | €5,048 | +€136 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€33,942 | -€24,219 | +€9,723 | +28.6% |
| Income taxes | 67/77 | €179 | €79 | -€100 | -55.9% |
| Profit (loss) for the period | 9904 | -€34,121 | -€24,298 | +€9,823 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,121 | -€24,298 | +€9,823 | +28.8% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.