ESPACO: 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.
ESPACO
Largest movements
- Financial fixed assets +€59,000
new in 2025: €59,000
- Receivables within one year +€17,541
up €17,541 (+183%), from €9,563 to €27,104
- Cash +€16,386
up €16,386 (+487%), from €3,362 to €19,748
mainly Net result for the year (+€52,316) and Tax, wage and social debts (+€45,075)
- Tangible fixed assets -€4,883
down €4,883 (-38.5%), from €12,696 to €7,813
- Reserves +€52,316
up €52,316 (+2,265%), from €2,309 to €54,626
- Tax, wage and social debts +€45,075
up €45,075 (+444%), from €10,156 to €55,231
of which Taxes: +€36,645
- Other debts -€9,402
down €9,402 (-80.5%), from €11,685 to €2,283
- Gross operating margin +€71,246
up €71,246 (+1,076%), from €6,624 to €77,870
- Taxes +€17,888
up €17,888 (+1,271%), from €1,408 to €19,296
- Depreciation +€2,876
up €2,876 (+120%), from €2,398 to €5,275
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 | €26,680 | €114,156 | +€87,475 | +328% |
| Formation expenses | 20 | €392 | €0 | -€392 | -100% |
| Fixed assets | 21/28 | €12,696 | €66,813 | +€54,117 | +426% |
| Tangible fixed assets | 22/27 | €12,696 | €7,813 | -€4,883 | -38.5% |
| Furniture and vehicles | 24 | €12,696 | €7,813 | -€4,883 | -38.5% |
| Financial fixed assets | 28 | - | €59,000 | +€59,000 | |
| Current assets | 29/58 | €13,592 | €47,342 | +€33,750 | +248% |
| Amounts receivable within one year | 40/41 | €9,563 | €27,104 | +€17,541 | +183% |
| Trade receivables | 40 | €9,563 | €27,104 | +€17,541 | +183% |
| Cash at bank and in hand | 54/58 | €3,362 | €19,748 | +€16,386 | +487% |
| Deferred charges and accrued income | 490/1 | €667 | €490 | -€177 | -26.5% |
| Total equity and liabilities | 10/49 | €26,680 | €114,156 | +€87,475 | +328% |
| Equity | 10/15 | €3,309 | €55,626 | +€52,316 | +1,581% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | - | -€1,000 | |
| Other | 1109/19 | €1,000 | - | -€1,000 | |
| Reserves | 13 | €2,309 | €54,626 | +€52,316 | +2,265% |
| Distributable reserves | 133 | €2,309 | €54,626 | +€52,316 | +2,265% |
| Amounts payable | 17/49 | €23,371 | €58,530 | +€35,159 | +150% |
| Amounts payable within one year | 42/48 | €23,371 | €58,530 | +€35,159 | +150% |
| Trade debts | 44 | €1,530 | €1,016 | -€514 | -33.6% |
| Suppliers | 440/4 | €1,530 | €1,016 | -€514 | -33.6% |
| Taxes, remuneration and social security | 45 | €10,156 | €55,231 | +€45,075 | +444% |
| Taxes | 450/3 | €5,981 | €42,626 | +€36,645 | +613% |
| Remuneration and social security | 454/9 | €4,175 | €12,605 | +€8,430 | +202% |
| Other amounts payable | 47/48 | €11,685 | €2,283 | -€9,402 | -80.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,398 | €5,275 | +€2,876 | +120% |
| Other operating charges | 640/8 | €476 | €890 | +€414 | +86.9% |
| Gross operating margin | 9900 | €6,624 | €77,870 | +€71,246 | +1,076% |
| Operating profit (loss) | 9901 | €3,749 | €71,705 | +€67,956 | +1,813% |
| Financial charges | 65/66B | €32 | €93 | +€61 | +192% |
| Recurring financial charges | 65 | €32 | €93 | +€61 | +192% |
| Profit (loss) for the period before taxes | 9903 | €3,717 | €71,612 | +€67,895 | +1,826% |
| Income taxes | 67/77 | €1,408 | €19,296 | +€17,888 | +1,271% |
| Profit (loss) for the period | 9904 | €2,309 | €52,316 | +€50,007 | +2,165% |
| Profit (loss) for the period to be appropriated | 9905 | €2,309 | €52,316 | +€50,007 | +2,165% |
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 13 October 2026 via checked.be.