ESPEVELO1: what changed
What changed
ESPEVELO1
NACE 68.122, Development of non-residential building projects
filed annual accounts (NBB)
Net result for the year
€570,459
2024 · €413,418+€157,041
Equity
€2.2m
2024 · €1.6m+€570,459
Cash
€1.6m
2024 · €1.4m+€223,322
Balance sheet total
€34.2m
2024 · €35.5m-€1.4m
Largest movements
Assets
- Tangible fixed assets -€1.1m
down €1.1m (-3.3%), from €31.8m to €30.8m
- Receivables within one year -€408,604
down €408,604 (-25.4%), from €1.6m to €1.2m
of which Trade receivables: -€343,935
Equity and liabilities
- Debts after one year -€24.4m
down €24.4m (-78.5%), from €31.1m to €6.7m
- Current portion of long-term debt +€23.0m
up €23.0m (+2,125%), from €1.1m to €24.0m
- Profit (loss) carried forward +€570,459
up €570,459 (+38.1%), from -€1.5m to -€928,210
- Other debts -€523,208
down €523,208 (-79.7%), from €656,273 to €133,065
Income statement
- Gross operating margin +€232,855
up €232,855 (+5.7%), from €4.1m to €4.3m
- Other operating charges +€198,172
up €198,172 (+18.5%), from €1.1m to €1.3m
- Financial charges -€134,971
down €134,971 (-9.0%), from €1.5m to €1.4m
- Turnover +€102,079
up €102,079 (+3.3%), from €3.1m to €3.2m
- Purchases and services +€65,449
up €65,449 (+71.1%), from €92,026 to €157,475
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€413,418
Gross operating margin
+€232,855
Depreciation
-€3,449
Other operating charges
-€198,172
Financial income
-€9,164
Financial charges
+€134,971
Result 2025
€570,459
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.7m
Investment
-€27,654
Financing
-€1.5m
Cash 2024
€1.4m
From operations (derived)
+€1.7m
Net result for the year
+€570,459
Depreciation
+€1.1m
Receivables within one year
+€408,604
Deferred charges and accrued income
+€120,383
Trade debts
+€62,369
Other debts
-€523,208
Accrued charges and deferred income
+€9,087
Investment (derived)
-€27,654
Investment in fixed assets (net)
-€27,654
Financing
-€1.5m
Debts after one year
-€24.4m
Current portion of long-term debt
+€23.0m
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,526,870 | €34,170,818 | -€1.4m | -3.8% |
| Fixed assets | 21/28 | €31,805,558 | €30,755,171 | -€1.1m | -3.3% |
| Tangible fixed assets | 22/27 | €31,805,558 | €30,755,171 | -€1.1m | -3.3% |
| Other tangible fixed assets | 26 | €31,805,558 | €30,755,171 | -€1.1m | -3.3% |
| Current assets | 29/58 | €3,721,312 | €3,415,647 | -€305,665 | -8.2% |
| Amounts receivable within one year | 40/41 | €1,607,396 | €1,198,792 | -€408,604 | -25.4% |
| Trade receivables | 40 | €1,539,963 | €1,196,027 | -€343,935 | -22.3% |
| Other amounts receivable | 41 | €67,433 | €2,765 | -€64,668 | -95.9% |
| Cash at bank and in hand | 54/58 | €1,396,184 | €1,619,506 | +€223,322 | +16.0% |
| Deferred charges and accrued income | 490/1 | €717,732 | €597,349 | -€120,383 | -16.8% |
| Total equity and liabilities | 10/49 | €35,526,870 | €34,170,818 | -€1.4m | -3.8% |
| Equity | 10/15 | €1,613,269 | €2,183,728 | +€570,459 | +35.4% |
| Contributions | 10/11 | €3,111,938 | €3,111,938 | = | 0.0% |
| Capital | 10 | €3,111,938 | €3,111,938 | = | 0.0% |
| Issued capital | 100 | €3,111,938 | €3,111,938 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,498,669 | -€928,210 | +€570,459 | +38.1% |
| Amounts payable | 17/49 | €33,913,601 | €31,987,090 | -€1.9m | -5.7% |
| Amounts payable after more than one year | 17 | €31,123,708 | €6,698,949 | -€24.4m | -78.5% |
| Financial debts | 170/4 | €31,123,708 | €6,698,949 | -€24.4m | -78.5% |
| Amounts payable within one year | 42/48 | €1,955,665 | €24,444,826 | +€22.5m | +1,150% |
| Current portion of amounts payable after more than one year | 42 | €1,080,000 | €24,030,000 | +€23.0m | +2,125% |
| Financial debts | 43 | €225 | €225 | = | 0.0% |
| Credit institutions | 430/8 | €225 | €225 | = | 0.0% |
| Trade debts | 44 | €219,168 | €281,536 | +€62,369 | +28.5% |
| Suppliers | 440/4 | €219,168 | €281,536 | +€62,369 | +28.5% |
| Other amounts payable | 47/48 | €656,273 | €133,065 | -€523,208 | -79.7% |
| Accrued charges and deferred income | 492/3 | €834,228 | €843,315 | +€9,087 | +1.1% |
| Turnover | 70 | €3,087,795 | €3,189,874 | +€102,079 | +3.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €92,026 | €157,475 | +€65,449 | +71.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,074,592 | €1,078,040 | +€3,449 | +0.3% |
| Other operating charges | 640/8 | €1,073,945 | €1,272,116 | +€198,172 | +18.5% |
| Gross operating margin | 9900 | €4,059,133 | €4,291,988 | +€232,855 | +5.7% |
| Operating profit (loss) | 9901 | €1,910,596 | €1,941,831 | +€31,235 | +1.6% |
| Financial income | 75/76B | €9,168 | €4 | -€9,164 | -100.0% |
| Recurring financial income | 75 | €9,168 | €4 | -€9,164 | -100.0% |
| Financial charges | 65/66B | €1,506,347 | €1,371,376 | -€134,971 | -9.0% |
| Recurring financial charges | 65 | €1,506,347 | €1,371,376 | -€134,971 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €413,418 | €570,459 | +€157,041 | +38.0% |
| Profit (loss) for the period | 9904 | €413,418 | €570,459 | +€157,041 | +38.0% |
| Profit (loss) for the period to be appropriated | 9905 | €413,418 | €570,459 | +€157,041 | +38.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.