ESPERANZA: 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.
ESPERANZA
Largest movements
- Receivables within one year -€64,354
down €64,354 (-99.7%), from €64,532 to €178
of which Other amounts receivable: -€62,834
- Stocks and contracts +€9,726
up €9,726 (+21.8%), from €44,550 to €54,276
- Current portion of long-term debt -€80,000
down €80,000 (-45.7%), from €175,000 to €95,000
- Other debts +€14,238
new in 2025: €14,238
- Profit (loss) carried forward +€7,467
up €7,467 (+10.2%), from -€73,408 to -€65,941
- Trade debts +€1,543
up €1,543 (+398%), from €388 to €1,931
- Gross operating margin +€4,802
up €4,802 (+61.6%), from €7,796 to €12,598
- Financial income -€3,896
no longer reported in 2025 (was €3,896)
- Depreciation -€343
down €343 (-21.2%), from €1,617 to €1,274
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 | €148,195 | €91,248 | -€56,947 | -38.4% |
| Fixed assets | 21/28 | €3,727 | €2,453 | -€1,274 | -34.2% |
| Tangible fixed assets | 22/27 | €3,727 | €2,453 | -€1,274 | -34.2% |
| Land and buildings | 22 | €3,727 | €2,453 | -€1,274 | -34.2% |
| Current assets | 29/58 | €144,468 | €88,794 | -€55,674 | -38.5% |
| Stocks and contracts in progress | 3 | €44,550 | €54,276 | +€9,726 | +21.8% |
| Stocks | 30/36 | €44,550 | €54,276 | +€9,726 | +21.8% |
| Amounts receivable within one year | 40/41 | €64,532 | €178 | -€64,354 | -99.7% |
| Trade receivables | 40 | €1,520 | - | -€1,520 | |
| Other amounts receivable | 41 | €63,012 | €178 | -€62,834 | -99.7% |
| Cash at bank and in hand | 54/58 | €35,094 | €34,026 | -€1,068 | -3.0% |
| Deferred charges and accrued income | 490/1 | €293 | €315 | +€22 | +7.6% |
| Total equity and liabilities | 10/49 | €148,195 | €91,248 | -€56,947 | -38.4% |
| Equity | 10/15 | -€27,388 | -€19,921 | +€7,467 | +27.3% |
| Contributions | 10/11 | €22,310 | €22,310 | = | 0.0% |
| Reserves | 13 | €23,709 | €23,709 | = | 0.0% |
| Distributable reserves | 133 | €23,709 | €23,709 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,408 | -€65,941 | +€7,467 | +10.2% |
| Amounts payable | 17/49 | €175,583 | €111,169 | -€64,414 | -36.7% |
| Amounts payable within one year | 42/48 | €175,583 | €111,169 | -€64,414 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €175,000 | €95,000 | -€80,000 | -45.7% |
| Trade debts | 44 | €388 | €1,931 | +€1,543 | +398% |
| Suppliers | 440/4 | €388 | €1,931 | +€1,543 | +398% |
| Taxes, remuneration and social security | 45 | €195 | - | -€195 | |
| Taxes | 450/3 | €195 | - | -€195 | |
| Other amounts payable | 47/48 | - | €14,238 | +€14,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,617 | €1,274 | -€343 | -21.2% |
| Other operating charges | 640/8 | €3,751 | €3,825 | +€74 | +2.0% |
| Gross operating margin | 9900 | €7,796 | €12,598 | +€4,802 | +61.6% |
| Operating profit (loss) | 9901 | €2,429 | €7,499 | +€5,070 | +209% |
| Financial income | 75/76B | €3,896 | - | -€3,896 | |
| Recurring financial income | 75 | €3,896 | - | -€3,896 | |
| Financial charges | 65/66B | €41 | €32 | -€9 | -21.3% |
| Recurring financial charges | 65 | €41 | €32 | -€9 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €6,284 | €7,467 | +€1,183 | +18.8% |
| Profit (loss) for the period | 9904 | €6,284 | €7,467 | +€1,183 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,284 | €7,467 | +€1,183 | +18.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.