Espaliers: 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.
What changed
Espaliers
NACE 46.220, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€66,819
2024 · €32,291-€99,110
Equity
€1.6m
2024 · €1.6m-€66,819
Cash
€112,261
2024 · €27,917+€84,344
Balance sheet total
€2.4m
2024 · €2.8m-€328,527
Largest movements
Assets
- Receivables within one year -€416,053
down €416,053 (-55.6%), from €748,310 to €332,257
of which Other amounts receivable: -€386,912
- Tangible fixed assets -€101,119
down €101,119 (-10.0%), from €1.0m to €906,035
of which Land and buildings: -€74,007
- Stocks and contracts +€100,103
up €100,103 (+11.3%), from €882,000 to €982,103
- Cash +€84,344
up €84,344 (+302.1%), from €27,917 to €112,261
mainly Receivables within one year (+€416,053) and Depreciation (+€179,525)
Equity and liabilities
- Trade debts -€221,684
down €221,684 (-50.9%), from €435,402 to €213,718
- Profit (loss) carried forward -€66,819
down €66,819 (-13.5%), from €495,357 to €428,538
Income statement
- Gross operating margin -€82,816
down €82,816 (-10.1%), from €816,826 to €734,010
- Staff costs +€20,529
up €20,529 (+3.6%), from €573,056 to €593,585
- Taxes -€15,627
down €15,627, from €14,015 to -€1,612
- Financial income -€11,674
down €11,674 (-52.8%), from €22,103 to €10,429
- Financial charges -€8,582
down €8,582 (-21.6%), from €39,806 to €31,224
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.
Result 2024
€32,291
Gross operating margin
-€82,816
Staff costs
-€20,529
Depreciation
-€2,892
Write-downs
+€2,847
Other operating charges
-€550
Financial income
-€11,674
Financial charges
+€8,582
Taxes
+€15,627
Deferred taxes and other
-€7,705
Result 2025
-€66,819
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.
From operations
+€185,911
Investment
-€68,048
Financing
-€33,520
Cash 2024
€27,917
From operations (derived)
+€185,911
Net result for the year
-€66,819
Depreciation
+€179,525
Stocks and contracts
-€100,103
Receivables within one year
+€416,053
Deferred charges and accrued income
-€14,557
Trade debts
-€221,684
Tax, wage and social debts
-€13,708
Other debts
+€2,786
Accrued charges and deferred income
+€4,418
Investment (derived)
-€68,048
Investment in fixed assets (net)
-€68,048
Financing
-€33,520
Debts after one year
-€22,215
Current portion of long-term debt
+€8,459
Short-term financial debts
-€19,763
Cash 2025
€112,261
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,757,831 | €2,429,304 | -€328,527 | -11.9% |
| Fixed assets | 21/28 | €1,071,020 | €959,542 | -€111,478 | -10.4% |
| Intangible fixed assets | 21 | €63,766 | €53,407 | -€10,359 | -16.2% |
| Tangible fixed assets | 22/27 | €1,007,154 | €906,035 | -€101,119 | -10.0% |
| Land and buildings | 22 | €747,362 | €673,355 | -€74,007 | -9.9% |
| Plant, machinery and equipment | 23 | €73,824 | €53,743 | -€20,082 | -27.2% |
| Furniture and vehicles | 24 | €81,855 | €64,526 | -€17,328 | -21.2% |
| Leasing and similar rights | 25 | €25,069 | €50,112 | +€25,043 | +99.9% |
| Other tangible fixed assets | 26 | €79,044 | €64,299 | -€14,745 | -18.7% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €1,686,811 | €1,469,762 | -€217,049 | -12.9% |
| Stocks and contracts in progress | 3 | €882,000 | €982,103 | +€100,103 | +11.3% |
| Stocks | 30/36 | €882,000 | €982,103 | +€100,103 | +11.3% |
| Amounts receivable within one year | 40/41 | €748,310 | €332,257 | -€416,053 | -55.6% |
| Trade receivables | 40 | €126,414 | €97,274 | -€29,141 | -23.1% |
| Other amounts receivable | 41 | €621,896 | €234,984 | -€386,912 | -62.2% |
| Cash at bank and in hand | 54/58 | €27,917 | €112,261 | +€84,344 | +302.1% |
| Deferred charges and accrued income | 490/1 | €28,584 | €43,141 | +€14,557 | +50.9% |
| Total equity and liabilities | 10/49 | €2,757,831 | €2,429,304 | -€328,527 | -11.9% |
| Equity | 10/15 | €1,632,202 | €1,565,383 | -€66,819 | -4.1% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €1,098,245 | €1,098,245 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,098,245 | €1,098,245 | = | 0.0% |
| Profit (loss) carried forward | 14 | €495,357 | €428,538 | -€66,819 | -13.5% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €1,125,629 | €863,921 | -€261,708 | -23.2% |
| Amounts payable after more than one year | 17 | €175,485 | €153,270 | -€22,215 | -12.7% |
| Financial debts | 170/4 | €175,485 | €153,270 | -€22,215 | -12.7% |
| Amounts payable within one year | 42/48 | €931,763 | €687,852 | -€243,911 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €103,369 | €111,828 | +€8,459 | +8.2% |
| Financial debts | 43 | €19,763 | €0 | -€19,763 | -100.0% |
| Credit institutions | 430/8 | €19,763 | €0 | -€19,763 | -100.0% |
| Trade debts | 44 | €435,402 | €213,718 | -€221,684 | -50.9% |
| Suppliers | 440/4 | €435,402 | €213,718 | -€221,684 | -50.9% |
| Taxes, remuneration and social security | 45 | €109,966 | €96,258 | -€13,708 | -12.5% |
| Taxes | 450/3 | €27,481 | €12,271 | -€15,211 | -55.3% |
| Remuneration and social security | 454/9 | €82,485 | €83,987 | +€1,503 | +1.8% |
| Other amounts payable | 47/48 | €263,262 | €266,048 | +€2,786 | +1.1% |
| Accrued charges and deferred income | 492/3 | €18,381 | €22,799 | +€4,418 | +24.0% |
| Remuneration, social security and pensions | 62 | €573,056 | €593,585 | +€20,529 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,634 | €179,525 | +€2,892 | +1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €233 | -€2,615 | -€2,847 | |
| Other operating charges | 640/8 | €10,601 | €11,151 | +€550 | +5.2% |
| Gross operating margin | 9900 | €816,826 | €734,010 | -€82,816 | -10.1% |
| Operating profit (loss) | 9901 | €56,303 | -€47,636 | -€103,939 | |
| Financial income | 75/76B | €22,103 | €10,429 | -€11,674 | -52.8% |
| Recurring financial income | 75 | €22,103 | €10,429 | -€11,674 | -52.8% |
| Financial charges | 65/66B | €39,806 | €31,224 | -€8,582 | -21.6% |
| Recurring financial charges | 65 | €39,806 | €31,224 | -€8,582 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €38,600 | -€68,431 | -€107,031 | |
| Transfer from deferred taxes | 780 | €7,705 | €0 | -€7,705 | -100.0% |
| Income taxes | 67/77 | €14,015 | -€1,612 | -€15,627 | |
| Profit (loss) for the period | 9904 | €32,291 | -€66,819 | -€99,110 | |
| Transfer from tax-exempt reserves | 789 | €1,926 | €3,781 | +€1,855 | +96.3% |
| Transfer to tax-exempt reserves | 689 | - | €3,781 | +€3,781 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,217 | -€66,819 | -€101,036 |
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 11 October 2026 via checked.be.