ESPALION: 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.
ESPALION
Largest movements
- Tangible fixed assets +€39,031
up €39,031 (+310.1%), from €12,585 to €51,616
of which Furniture and vehicles: +€39,779
- Receivables within one year +€27,717
up €27,717 (+237.0%), from €11,696 to €39,412
of which Trade receivables: +€15,046
- Cash -€12,794
down €12,794 (-20.7%), from €61,901 to €49,108
mainly Contributions, distributions and other (-€61,686) and Investment in fixed assets (net) (-€49,474)
- Deferred charges and accrued income -€1,616
down €1,616 (-59.9%), from €2,696 to €1,080
- Debts after one year +€36,455
new in 2025: €36,455
- Other debts +€11,063
up €11,063 (+21.9%), from €50,623 to €61,686
- Tax, wage and social debts +€4,829
up €4,829 (+64.7%), from €7,468 to €12,297
- Gross operating margin +€12,216
up €12,216 (+15.8%), from €77,523 to €89,739
- Taxes +€2,839
up €2,839 (+21.8%), from €13,003 to €15,843
- Depreciation -€2,555
down €2,555 (-19.7%), from €12,998 to €10,443
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 | €88,878 | €141,216 | +€52,338 | +58.9% |
| Fixed assets | 21/28 | €12,585 | €51,616 | +€39,031 | +310.1% |
| Tangible fixed assets | 22/27 | €12,585 | €51,616 | +€39,031 | +310.1% |
| Furniture and vehicles | 24 | €11,015 | €50,794 | +€39,779 | +361.1% |
| Other tangible fixed assets | 26 | €1,570 | €822 | -€748 | -47.6% |
| Current assets | 29/58 | €76,293 | €89,600 | +€13,307 | +17.4% |
| Amounts receivable within one year | 40/41 | €11,696 | €39,412 | +€27,717 | +237.0% |
| Trade receivables | 40 | €11,132 | €26,178 | +€15,046 | +135.2% |
| Other amounts receivable | 41 | €564 | €13,234 | +€12,670 | +2247.6% |
| Cash at bank and in hand | 54/58 | €61,901 | €49,108 | -€12,794 | -20.7% |
| Deferred charges and accrued income | 490/1 | €2,696 | €1,080 | -€1,616 | -59.9% |
| Total equity and liabilities | 10/49 | €88,878 | €141,216 | +€52,338 | +58.9% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Amounts payable | 17/49 | €68,418 | €120,756 | +€52,338 | +76.5% |
| Amounts payable after more than one year | 17 | - | €36,455 | +€36,455 | |
| Financial debts | 170/4 | - | €36,455 | +€36,455 | |
| Amounts payable within one year | 42/48 | €68,418 | €84,225 | +€15,807 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €10,266 | €10,173 | -€94 | -0.9% |
| Financial debts | 43 | €62 | €69 | +€8 | +12.2% |
| Credit institutions | 430/8 | €62 | €69 | +€8 | +12.2% |
| Taxes, remuneration and social security | 45 | €7,468 | €12,297 | +€4,829 | +64.7% |
| Taxes | 450/3 | €7,468 | €12,297 | +€4,829 | +64.7% |
| Other amounts payable | 47/48 | €50,623 | €61,686 | +€11,063 | +21.9% |
| Accrued charges and deferred income | 492/3 | - | €77 | +€77 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,998 | €10,443 | -€2,555 | -19.7% |
| Other operating charges | 640/8 | €437 | €608 | +€171 | +39.0% |
| Gross operating margin | 9900 | €77,523 | €89,739 | +€12,216 | +15.8% |
| Operating profit (loss) | 9901 | €64,088 | €78,688 | +€14,600 | +22.8% |
| Financial income | 75/76B | €100 | €271 | +€171 | +170.5% |
| Recurring financial income | 75 | €100 | €271 | +€171 | +170.5% |
| Financial charges | 65/66B | €562 | €1,430 | +€868 | +154.4% |
| Recurring financial charges | 65 | €562 | €1,430 | +€868 | +154.4% |
| Profit (loss) for the period before taxes | 9903 | €63,626 | €77,529 | +€13,903 | +21.9% |
| Income taxes | 67/77 | €13,003 | €15,843 | +€2,839 | +21.8% |
| Profit (loss) for the period | 9904 | €50,623 | €61,686 | +€11,063 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,623 | €61,686 | +€11,063 | +21.9% |
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 2 October 2026 via checked.be.