ESPAD-SERVICES: 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.
ESPAD-SERVICES
Largest movements
- Current investments +€1.5m
up €1.5m (+202%), from €741,332 to €2.2m
- Receivables after one year +€443,800
up €443,800 (+13.4%), from €3.3m to €3.8m
- Receivables within one year +€380,007
up €380,007 (+947%), from €40,120 to €420,127
of which Other amounts receivable: +€355,466
- Financial fixed assets -€294,067
down €294,067 (-18.8%), from €1.6m to €1.3m
- Deferred charges and accrued income +€188,572
up €188,572 (+19.1%), from €984,875 to €1.2m
- Other debts +€3.5m
up €3.5m (+341%), from €1.0m to €4.5m
- Reserves -€1.4m
down €1.4m (-30.3%), from €4.5m to €3.1m
of which Distributable reserves: -€1.4m
- Tax, wage and social debts +€96,395
new in 2025: €96,395
of which Taxes: +€96,180
- Financial income +€1.3m
up €1.3m (+611%), from €208,036 to €1.5m
- Financial charges +€208,749
up €208,749 (+384%), from €54,336 to €263,085
of which Non-recurring financial charges: +€208,404
- Write-downs +€109,790
up €109,790 (+53.6%), from €204,691 to €314,480
- Taxes +€83,525
up €83,525 (+563%), from €14,823 to €98,348
- Gross operating margin -€13,135
down €13,135 (-22.0%), from -€59,813 to -€72,948
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 | €7,172,690 | €9,432,732 | +€2.3m | +31.5% |
| Fixed assets | 21/28 | €1,796,947 | €1,487,962 | -€308,985 | -17.2% |
| Tangible fixed assets | 22/27 | €234,639 | €219,720 | -€14,919 | -6.4% |
| Land and buildings | 22 | €173,464 | €173,464 | = | 0.0% |
| Plant, machinery and equipment | 23 | €9,833 | €6,899 | -€2,935 | -29.8% |
| Furniture and vehicles | 24 | €51,341 | €39,357 | -€11,984 | -23.3% |
| Financial fixed assets | 28 | €1,562,308 | €1,268,242 | -€294,067 | -18.8% |
| Current assets | 29/58 | €5,375,743 | €7,944,770 | +€2.6m | +47.8% |
| Amounts receivable after more than one year | 29 | €3,318,000 | €3,761,800 | +€443,800 | +13.4% |
| Other amounts receivable | 291 | €3,318,000 | €3,761,800 | +€443,800 | +13.4% |
| Stocks and contracts in progress | 3 | €29,501 | €29,501 | = | 0.0% |
| Stocks | 30/36 | €29,501 | €29,501 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,120 | €420,127 | +€380,007 | +947% |
| Trade receivables | 40 | €17,132 | €41,674 | +€24,542 | +143% |
| Other amounts receivable | 41 | €22,988 | €378,453 | +€355,466 | +1,546% |
| Current investments | 50/53 | €741,332 | €2,241,332 | +€1.5m | +202% |
| Cash at bank and in hand | 54/58 | €261,916 | €318,563 | +€56,647 | +21.6% |
| Deferred charges and accrued income | 490/1 | €984,875 | €1,173,447 | +€188,572 | +19.1% |
| Total equity and liabilities | 10/49 | €7,172,690 | €9,432,732 | +€2.3m | +31.5% |
| Equity | 10/15 | €6,134,711 | €4,784,331 | -€1.4m | -22.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €4,454,675 | €3,104,296 | -€1.4m | -30.3% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €4,448,425 | €3,098,046 | -€1.4m | -30.4% |
| Profit (loss) carried forward | 14 | €1,617,536 | €1,617,536 | = | 0.0% |
| Amounts payable | 17/49 | €1,037,979 | €4,648,401 | +€3.6m | +348% |
| Amounts payable within one year | 42/48 | €1,037,979 | €4,648,401 | +€3.6m | +348% |
| Trade debts | 44 | €5,844 | €3,522 | -€2,322 | -39.7% |
| Suppliers | 440/4 | €5,844 | €3,522 | -€2,322 | -39.7% |
| Taxes, remuneration and social security | 45 | - | €96,395 | +€96,395 | |
| Taxes | 450/3 | - | €96,180 | +€96,180 | |
| Remuneration and social security | 454/9 | - | €215 | +€215 | |
| Other amounts payable | 47/48 | €1,032,135 | €4,548,484 | +€3.5m | +341% |
| Remuneration, social security and pensions | 62 | - | €2,176 | +€2,176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,088 | €22,792 | +€704 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €204,691 | €314,480 | +€109,790 | +53.6% |
| Other operating charges | 640/8 | €10,624 | €8,237 | -€2,386 | -22.5% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | -€59,813 | -€72,948 | -€13,135 | -22.0% |
| Operating profit (loss) | 9901 | -€297,215 | -€420,633 | -€123,418 | -41.5% |
| Financial income | 75/76B | €208,036 | €1,478,266 | +€1.3m | +611% |
| Recurring financial income | 75 | €208,036 | €1,478,266 | +€1.3m | +611% |
| Financial charges | 65/66B | €54,336 | €263,085 | +€208,749 | +384% |
| Recurring financial charges | 65 | €474 | €819 | +€345 | +72.7% |
| Non-recurring financial charges | 66B | €53,862 | €262,266 | +€208,404 | +387% |
| Profit (loss) for the period before taxes | 9903 | -€143,516 | €794,548 | +€938,063 | |
| Income taxes | 67/77 | €14,823 | €98,348 | +€83,525 | +563% |
| Profit (loss) for the period | 9904 | -€158,339 | €696,199 | +€854,538 | |
| Profit (loss) for the period to be appropriated | 9905 | -€158,339 | €696,199 | +€854,538 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.