ESPACES: 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.
ESPACES
Largest movements
- Cash +€154,151
up €154,151 (+679.0%), from €22,702 to €176,853
mainly Receivables within one year (+€102,755) and Depreciation (+€81,448)
- Receivables within one year -€102,755
down €102,755 (-22.3%), from €460,342 to €357,587
of which Trade receivables: -€97,315
- Current investments +€67,015
up €67,015 (+29.7%), from €225,783 to €292,798
- Stocks and contracts -€13,381
down €13,381 (-11.1%), from €120,020 to €106,639
- Reserves +€56,427
up €56,427 (+10.5%), from €535,078 to €591,505
- Trade debts +€24,604
up €24,604 (+50.8%), from €48,408 to €73,012
- Debts after one year +€18,349
up €18,349 (+13.4%), from €136,885 to €155,234
- Staff costs +€123,941
up €123,941 (+9.8%), from €1.3m to €1.4m
- Gross operating margin -€25,882
down €25,882 (-1.7%), from €1.6m to €1.5m
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 | €1,238,008 | €1,333,795 | +€95,787 | +7.7% |
| Fixed assets | 21/28 | €409,161 | €399,917 | -€9,244 | -2.3% |
| Intangible fixed assets | 21 | €249 | - | -€249 | |
| Tangible fixed assets | 22/27 | €404,562 | €395,567 | -€8,995 | -2.2% |
| Land and buildings | 22 | €295,397 | €284,598 | -€10,799 | -3.7% |
| Plant, machinery and equipment | 23 | €2,351 | - | -€2,351 | |
| Furniture and vehicles | 24 | €62,867 | €56,975 | -€5,892 | -9.4% |
| Other tangible fixed assets | 26 | €43,947 | €53,994 | +€10,047 | +22.9% |
| Financial fixed assets | 28 | €4,350 | €4,350 | -€0 | 0.0% |
| Current assets | 29/58 | €828,847 | €933,877 | +€105,030 | +12.7% |
| Stocks and contracts in progress | 3 | €120,020 | €106,639 | -€13,381 | -11.1% |
| Stocks | 30/36 | €120,020 | €106,639 | -€13,381 | -11.1% |
| Amounts receivable within one year | 40/41 | €460,342 | €357,587 | -€102,755 | -22.3% |
| Trade receivables | 40 | €110,728 | €13,413 | -€97,315 | -87.9% |
| Other amounts receivable | 41 | €349,614 | €344,174 | -€5,440 | -1.6% |
| Current investments | 50/53 | €225,783 | €292,798 | +€67,015 | +29.7% |
| Cash at bank and in hand | 54/58 | €22,702 | €176,853 | +€154,151 | +679.0% |
| Total equity and liabilities | 10/49 | €1,238,008 | €1,333,795 | +€95,787 | +7.7% |
| Equity | 10/15 | €813,700 | €864,102 | +€50,402 | +6.2% |
| Contributions | 10/11 | €223,104 | €223,104 | +€0 | 0.0% |
| Capital | 10 | €223,104 | €223,104 | +€0 | 0.0% |
| Reserves | 13 | €535,078 | €591,505 | +€56,427 | +10.5% |
| Profit (loss) carried forward | 14 | €2,653 | €2,653 | +€0 | 0.0% |
| Investment grants | 15 | €52,865 | €46,840 | -€6,025 | -11.4% |
| Amounts payable | 17/49 | €424,308 | €469,693 | +€45,385 | +10.7% |
| Amounts payable after more than one year | 17 | €136,885 | €155,234 | +€18,349 | +13.4% |
| Financial debts | 170/4 | €136,885 | €155,234 | +€18,349 | +13.4% |
| Amounts payable within one year | 42/48 | €253,464 | €280,501 | +€27,037 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €34,512 | €29,270 | -€5,242 | -15.2% |
| Trade debts | 44 | €48,408 | €73,012 | +€24,604 | +50.8% |
| Suppliers | 440/4 | €48,408 | €73,012 | +€24,604 | +50.8% |
| Taxes, remuneration and social security | 45 | €170,544 | €178,219 | +€7,675 | +4.5% |
| Remuneration and social security | 454/9 | €170,544 | €178,219 | +€7,675 | +4.5% |
| Accrued charges and deferred income | 492/3 | €33,959 | €33,958 | -€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €1,260,221 | €1,384,162 | +€123,941 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,662 | €81,448 | -€6,214 | -7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,002 | +€1,002 | |
| Other operating charges | 640/8 | €9,118 | €7,532 | -€1,586 | -17.4% |
| Non-recurring operating charges | 66A | - | €4,596 | +€4,596 | |
| Gross operating margin | 9900 | €1,558,437 | €1,532,555 | -€25,882 | -1.7% |
| Operating profit (loss) | 9901 | €201,436 | €23,815 | -€177,621 | -88.2% |
| Financial income | 75/76B | €10,752 | €8,905 | -€1,847 | -17.2% |
| Recurring financial income | 75 | €10,752 | €8,905 | -€1,847 | -17.2% |
| Financial charges | 65/66B | €5,021 | €5,429 | +€408 | +8.1% |
| Recurring financial charges | 65 | €5,021 | €5,429 | +€408 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €207,167 | €27,290 | -€179,877 | -86.8% |
| Income taxes | 67/77 | €1,134 | €864 | -€270 | -23.8% |
| Profit (loss) for the period | 9904 | €206,033 | €26,427 | -€179,606 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €206,033 | €26,427 | -€179,606 | -87.2% |
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 6 October 2026 via checked.be.