ESPINA: what changed
Two fiscal 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.
ESPINA
Largest movements
- Receivables within one year +€29,111
up €29,111 (+32.4%), from €89,923 to €119,033
- Cash -€22,160
down €22,160 (-29.6%), from €74,922 to €52,763
mainly Receivables within one year (-€29,111) and Investment in fixed assets (net) (-€22,922)
- Reserves +€17,985
up €17,985 (+4.4%), from €406,883 to €424,868
of which Distributable reserves: +€17,985
- Debts after one year -€11,323
down €11,323 (-6.7%), from €168,948 to €157,625
- Gross operating margin -€27,068
down €27,068 (-32.5%), from €83,364 to €56,296
- Depreciation -€7,326
down €7,326 (-22.8%), from €32,134 to €24,808
- Taxes -€5,600
down €5,600 (-48.3%), from €11,595 to €5,995
- Other operating charges +€5,303
up €5,303 (+87.3%), from €6,073 to €11,376
- Financial income +€3,236
up €3,236 (+147.0%), from €2,201 to €5,438
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
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 | €671,491 | €676,555 | +€5,065 | +0.8% |
| Fixed assets | 21/28 | €506,646 | €504,760 | -€1,886 | -0.4% |
| Tangible fixed assets | 22/27 | €506,646 | €504,760 | -€1,886 | -0.4% |
| Land and buildings | 22 | €506,646 | €504,760 | -€1,886 | -0.4% |
| Current assets | 29/58 | €164,845 | €171,796 | +€6,951 | +4.2% |
| Amounts receivable within one year | 40/41 | €89,923 | €119,033 | +€29,111 | +32.4% |
| Other amounts receivable | 41 | €89,923 | €119,033 | +€29,111 | +32.4% |
| Cash at bank and in hand | 54/58 | €74,922 | €52,763 | -€22,160 | -29.6% |
| Total equity and liabilities | 10/49 | €671,491 | €676,555 | +€5,065 | +0.8% |
| Equity | 10/15 | €481,251 | €499,236 | +€17,985 | +3.7% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Outside capital | 11 | - | €74,368 | +€74,368 | |
| Other | 1109/19 | - | €74,368 | +€74,368 | |
| Reserves | 13 | €406,883 | €424,868 | +€17,985 | +4.4% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €399,446 | €417,431 | +€17,985 | +4.5% |
| Amounts payable | 17/49 | €190,240 | €177,320 | -€12,920 | -6.8% |
| Amounts payable after more than one year | 17 | €168,948 | €157,625 | -€11,323 | -6.7% |
| Financial debts | 170/4 | €168,948 | €157,625 | -€11,323 | -6.7% |
| Amounts payable within one year | 42/48 | €21,292 | €19,695 | -€1,597 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €11,199 | €11,323 | +€124 | +1.1% |
| Financial debts | 43 | €8,369 | €8,360 | -€9 | -0.1% |
| Credit institutions | 430/8 | €8,369 | €8,360 | -€9 | -0.1% |
| Trade debts | 44 | €130 | €12 | -€118 | -90.8% |
| Suppliers | 440/4 | €130 | €12 | -€118 | -90.8% |
| Taxes, remuneration and social security | 45 | €1,595 | €0 | -€1,595 | -100.0% |
| Taxes | 450/3 | €1,595 | €0 | -€1,595 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,134 | €24,808 | -€7,326 | -22.8% |
| Other operating charges | 640/8 | €6,073 | €11,376 | +€5,303 | +87.3% |
| Gross operating margin | 9900 | €83,364 | €56,296 | -€27,068 | -32.5% |
| Operating profit (loss) | 9901 | €45,157 | €20,111 | -€25,046 | -55.5% |
| Financial income | 75/76B | €2,201 | €5,438 | +€3,236 | +147.0% |
| Recurring financial income | 75 | €2,201 | €5,438 | +€3,236 | +147.0% |
| Financial charges | 65/66B | €1,663 | €1,569 | -€94 | -5.7% |
| Recurring financial charges | 65 | €1,663 | €1,569 | -€94 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €45,695 | €23,980 | -€21,715 | -47.5% |
| Income taxes | 67/77 | €11,595 | €5,995 | -€5,600 | -48.3% |
| Profit (loss) for the period | 9904 | €34,100 | €17,985 | -€16,115 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,100 | €17,985 | -€16,115 | -47.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.