ESPAVINO: 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.
ESPAVINO
Largest movements
- Tangible fixed assets -€25,772
down €25,772 (-20.0%), from €129,137 to €103,365
of which Land and buildings: -€16,078
- Stocks and contracts +€20,142
up €20,142 (+29.0%), from €69,555 to €89,697
- Receivables within one year -€7,188
down €7,188 (-94.5%), from €7,607 to €419
of which Trade receivables: -€7,106
- Cash -€6,734
down €6,734 (-39.2%), from €17,183 to €10,449
mainly Net result for the year (-€21,193) and Stocks and contracts (-€20,142)
- Profit (loss) carried forward -€21,193
down €21,193 (-71.9%), from -€29,473 to -€50,666
- Trade debts +€18,861
up €18,861, from €0 to €18,861
- Debts after one year -€18,800
down €18,800 (-19.4%), from €96,778 to €77,978
- Other debts +€3,654
up €3,654 (+4.2%), from €86,289 to €89,943
- Tax, wage and social debts -€2,952
down €2,952 (-37.1%), from €7,955 to €5,004
- Gross operating margin -€13,638
down €13,638 (-48.3%), from €28,249 to €14,612
- Financial charges -€5,126
down €5,126 (-48.8%), from €10,506 to €5,380
- Other operating charges -€314
down €314 (-6.3%), from €5,002 to €4,687
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 | €225,471 | €205,987 | -€19,484 | -8.6% |
| Fixed assets | 21/28 | €129,385 | €103,613 | -€25,772 | -19.9% |
| Tangible fixed assets | 22/27 | €129,137 | €103,365 | -€25,772 | -20.0% |
| Land and buildings | 22 | €91,912 | €75,834 | -€16,078 | -17.5% |
| Plant, machinery and equipment | 23 | €1,332 | €1,065 | -€266 | -20.0% |
| Furniture and vehicles | 24 | €25,830 | €19,019 | -€6,811 | -26.4% |
| Other tangible fixed assets | 26 | €10,063 | €7,446 | -€2,617 | -26.0% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €96,086 | €102,374 | +€6,288 | +6.5% |
| Stocks and contracts in progress | 3 | €69,555 | €89,697 | +€20,142 | +29.0% |
| Stocks | 30/36 | €69,555 | €89,697 | +€20,142 | +29.0% |
| Amounts receivable within one year | 40/41 | €7,607 | €419 | -€7,188 | -94.5% |
| Trade receivables | 40 | €7,525 | €419 | -€7,106 | -94.4% |
| Other amounts receivable | 41 | €82 | €0 | -€82 | -100% |
| Cash at bank and in hand | 54/58 | €17,183 | €10,449 | -€6,734 | -39.2% |
| Deferred charges and accrued income | 490/1 | €1,741 | €1,809 | +€68 | +3.9% |
| Total equity and liabilities | 10/49 | €225,471 | €205,987 | -€19,484 | -8.6% |
| Equity | 10/15 | €8,123 | -€13,070 | -€21,193 | |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €412 | €412 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €412 | €412 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,473 | -€50,666 | -€21,193 | -71.9% |
| Amounts payable | 17/49 | €217,348 | €219,057 | +€1,709 | +0.8% |
| Amounts payable after more than one year | 17 | €96,778 | €77,978 | -€18,800 | -19.4% |
| Financial debts | 170/4 | €96,778 | €77,978 | -€18,800 | -19.4% |
| Amounts payable within one year | 42/48 | €120,570 | €141,079 | +€20,509 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €26,325 | €27,271 | +€945 | +3.6% |
| Trade debts | 44 | €0 | €18,861 | +€18,861 | |
| Suppliers | 440/4 | €0 | €18,861 | +€18,861 | |
| Taxes, remuneration and social security | 45 | €7,955 | €5,004 | -€2,952 | -37.1% |
| Taxes | 450/3 | €7,955 | €5,004 | -€2,952 | -37.1% |
| Other amounts payable | 47/48 | €86,289 | €89,943 | +€3,654 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,586 | €25,772 | +€187 | +0.7% |
| Other operating charges | 640/8 | €5,002 | €4,687 | -€314 | -6.3% |
| Gross operating margin | 9900 | €28,249 | €14,612 | -€13,638 | -48.3% |
| Operating profit (loss) | 9901 | -€2,338 | -€15,848 | -€13,510 | -578% |
| Financial income | 75/76B | €0 | €34 | +€34 | |
| Recurring financial income | 75 | €0 | €34 | +€34 | |
| Financial charges | 65/66B | €10,506 | €5,380 | -€5,126 | -48.8% |
| Recurring financial charges | 65 | €10,506 | €5,380 | -€5,126 | -48.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,844 | -€21,193 | -€8,349 | -65.0% |
| Profit (loss) for the period | 9904 | -€12,844 | -€21,193 | -€8,349 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,844 | -€21,193 | -€8,349 | -65.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.