ESPESO: 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.
ESPESO
Largest movements
- Stocks and contracts -€14,371
down €14,371 (-34.8%), from €41,252 to €26,881
- Receivables within one year -€7,859
down €7,859 (-36.8%), from €21,353 to €13,494
of which Other amounts receivable: -€5,659
- Tangible fixed assets -€1,672
down €1,672 (-26.7%), from €6,272 to €4,600
of which Furniture and vehicles: -€1,069
- Trade debts -€13,609
no longer reported in 2025 (was €13,609)
- Short-term financial debts -€6,806
down €6,806 (-34.4%), from €19,767 to €12,961
- Other debts -€4,888
down €4,888 (-27.4%), from €17,835 to €12,947
- Profit (loss) carried forward +€1,742
up €1,742 (+19.0%), from -€9,179 to -€7,437
- Gross operating margin -€24,947
down €24,947 (-41.4%), from €60,269 to €35,322
- Taxes -€5,349
down €5,349 (-90.2%), from €5,929 to €580
- Financial income -€4,673
down €4,673 (-91.3%), from €5,116 to €443
of which Non-recurring financial income: -€4,818
- Other operating charges -€2,807
down €2,807 (-68.6%), from €4,090 to €1,283
- Depreciation -€2,223
down €2,223 (-57.1%), from €3,895 to €1,672
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,181 | €45,487 | -€23,694 | -34.2% |
| Fixed assets | 21/28 | €6,322 | €4,650 | -€1,672 | -26.4% |
| Tangible fixed assets | 22/27 | €6,272 | €4,600 | -€1,672 | -26.7% |
| Plant, machinery and equipment | 23 | €1,798 | €1,195 | -€603 | -33.5% |
| Furniture and vehicles | 24 | €4,474 | €3,405 | -€1,069 | -23.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €62,859 | €40,837 | -€22,022 | -35.0% |
| Stocks and contracts in progress | 3 | €41,252 | €26,881 | -€14,371 | -34.8% |
| Stocks | 30/36 | €41,252 | €26,881 | -€14,371 | -34.8% |
| Amounts receivable within one year | 40/41 | €21,353 | €13,494 | -€7,859 | -36.8% |
| Trade receivables | 40 | €13,034 | €10,834 | -€2,200 | -16.9% |
| Other amounts receivable | 41 | €8,319 | €2,660 | -€5,659 | -68.0% |
| Deferred charges and accrued income | 490/1 | €254 | €462 | +€208 | +81.9% |
| Total equity and liabilities | 10/49 | €69,181 | €45,487 | -€23,694 | -34.2% |
| Equity | 10/15 | €10,964 | €12,706 | +€1,742 | +15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,543 | €1,543 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,543 | €1,543 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,543 | €1,543 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,179 | -€7,437 | +€1,742 | +19.0% |
| Amounts payable | 17/49 | €58,217 | €32,781 | -€25,436 | -43.7% |
| Amounts payable within one year | 42/48 | €58,217 | €32,781 | -€25,436 | -43.7% |
| Financial debts | 43 | €19,767 | €12,961 | -€6,806 | -34.4% |
| Other loans | 439 | €19,767 | €12,961 | -€6,806 | -34.4% |
| Trade debts | 44 | €13,609 | - | -€13,609 | |
| Suppliers | 440/4 | €13,609 | - | -€13,609 | |
| Taxes, remuneration and social security | 45 | €7,006 | €6,873 | -€133 | -1.9% |
| Taxes | 450/3 | €5,501 | €6,045 | +€544 | +9.9% |
| Remuneration and social security | 454/9 | €1,505 | €828 | -€677 | -45.0% |
| Other amounts payable | 47/48 | €17,835 | €12,947 | -€4,888 | -27.4% |
| Remuneration, social security and pensions | 62 | €30,066 | €28,262 | -€1,804 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,895 | €1,672 | -€2,223 | -57.1% |
| Other operating charges | 640/8 | €4,090 | €1,283 | -€2,807 | -68.6% |
| Non-recurring operating charges | 66A | €3,528 | - | -€3,528 | |
| Gross operating margin | 9900 | €60,269 | €35,322 | -€24,947 | -41.4% |
| Operating profit (loss) | 9901 | €18,690 | €4,105 | -€14,585 | -78.0% |
| Financial income | 75/76B | €5,116 | €443 | -€4,673 | -91.3% |
| Recurring financial income | 75 | €298 | €443 | +€145 | +48.7% |
| Non-recurring financial income | 76B | €4,818 | - | -€4,818 | |
| Financial charges | 65/66B | €1,484 | €2,226 | +€742 | +50.0% |
| Recurring financial charges | 65 | €1,484 | €2,226 | +€742 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €22,322 | €2,322 | -€20,000 | -89.6% |
| Income taxes | 67/77 | €5,929 | €580 | -€5,349 | -90.2% |
| Profit (loss) for the period | 9904 | €16,393 | €1,742 | -€14,651 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,393 | €1,742 | -€14,651 | -89.4% |
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 10 October 2026 via checked.be.