ESPECO: 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.
ESPECO
Largest movements
- Tangible fixed assets -€20,027
down €20,027 (-21.1%), from €94,758 to €74,731
of which Furniture and vehicles: -€19,268
- Intangible fixed assets -€15,625
down €15,625 (-13.2%), from €118,214 to €102,589
- Cash +€7,453
up €7,453 (+12.6%), from €59,193 to €66,646
mainly Net result for the year (+€169,053) and Depreciation (+€39,307)
- Debts after one year -€12,792
down €12,792 (-51.2%), from €24,989 to €12,197
- Current portion of long-term debt -€12,122
down €12,122 (-48.7%), from €24,914 to €12,792
- Other operating charges +€5,298
up €5,298 (+206%), from €2,578 to €7,876
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 | €435,505 | €407,850 | -€27,654 | -6.3% |
| Fixed assets | 21/28 | €212,971 | €177,320 | -€35,651 | -16.7% |
| Intangible fixed assets | 21 | €118,214 | €102,589 | -€15,625 | -13.2% |
| Tangible fixed assets | 22/27 | €94,758 | €74,731 | -€20,027 | -21.1% |
| Furniture and vehicles | 24 | €91,915 | €72,647 | -€19,268 | -21.0% |
| Other tangible fixed assets | 26 | €2,843 | €2,084 | -€759 | -26.7% |
| Current assets | 29/58 | €222,533 | €230,531 | +€7,997 | +3.6% |
| Amounts receivable within one year | 40/41 | €162,650 | €163,140 | +€490 | +0.3% |
| Trade receivables | 40 | €159,350 | €159,040 | -€310 | -0.2% |
| Other amounts receivable | 41 | €3,300 | €4,100 | +€800 | +24.2% |
| Cash at bank and in hand | 54/58 | €59,193 | €66,646 | +€7,453 | +12.6% |
| Deferred charges and accrued income | 490/1 | €690 | €744 | +€54 | +7.9% |
| Total equity and liabilities | 10/49 | €435,505 | €407,850 | -€27,654 | -6.3% |
| 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% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €415,045 | €387,390 | -€27,654 | -6.7% |
| Amounts payable after more than one year | 17 | €24,989 | €12,197 | -€12,792 | -51.2% |
| Financial debts | 170/4 | €24,989 | €12,197 | -€12,792 | -51.2% |
| Amounts payable within one year | 42/48 | €389,892 | €375,193 | -€14,699 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €24,914 | €12,792 | -€12,122 | -48.7% |
| Trade debts | 44 | €3,730 | €2,504 | -€1,226 | -32.9% |
| Suppliers | 440/4 | €3,730 | €2,504 | -€1,226 | -32.9% |
| Taxes, remuneration and social security | 45 | €56,173 | €55,251 | -€922 | -1.6% |
| Taxes | 450/3 | €56,173 | €55,251 | -€922 | -1.6% |
| Other amounts payable | 47/48 | €305,074 | €304,646 | -€428 | -0.1% |
| Accrued charges and deferred income | 492/3 | €163 | - | -€163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,942 | €39,307 | -€1,635 | -4.0% |
| Other operating charges | 640/8 | €2,578 | €7,876 | +€5,298 | +206% |
| Gross operating margin | 9900 | €270,093 | €269,102 | -€990 | -0.4% |
| Operating profit (loss) | 9901 | €226,573 | €221,919 | -€4,653 | -2.1% |
| Financial charges | 65/66B | €2,652 | €1,896 | -€755 | -28.5% |
| Recurring financial charges | 65 | €2,652 | €1,896 | -€755 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €223,921 | €220,023 | -€3,898 | -1.7% |
| Income taxes | 67/77 | €51,669 | €50,969 | -€699 | -1.4% |
| Profit (loss) for the period | 9904 | €172,253 | €169,053 | -€3,199 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €172,253 | €169,053 | -€3,199 | -1.9% |
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 15 October 2026 via checked.be.