ESPLANADE: 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.
ESPLANADE
Largest movements
- Deferred charges and accrued income +€66,434
up €66,434 (+1936.5%), from €3,431 to €69,865
- Tangible fixed assets -€36,565
down €36,565 (-2.3%), from €1.6m to €1.6m
of which Land and buildings: -€19,158
- Debts after one year -€100,685
down €100,685 (-13.3%), from €754,702 to €654,017
- Reserves +€58,791
up €58,791 (+12.3%), from €477,328 to €536,119
of which Distributable reserves: +€69,927
- Other debts +€27,227
up €27,227 (+17.0%), from €160,083 to €187,310
- Trade debts +€25,527
up €25,527 (+811.1%), from €3,147 to €28,674
- Short-term financial debts +€22,191
up €22,191 (+173.2%), from €12,809 to €35,000
of which Other loans: +€20,000
- Financial charges -€11,512
down €11,512 (-22.4%), from €51,461 to €39,949
- Gross operating margin +€9,747
up €9,747 (+3.7%), from €263,990 to €273,737
- Depreciation +€7,193
up €7,193 (+5.7%), from €127,099 to €134,292
- Taxes +€3,800
up €3,800 (+12.2%), from €31,227 to €35,027
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 | €1,600,666 | €1,642,868 | +€42,202 | +2.6% |
| Fixed assets | 21/28 | €1,588,569 | €1,552,004 | -€36,565 | -2.3% |
| Tangible fixed assets | 22/27 | €1,588,169 | €1,551,604 | -€36,565 | -2.3% |
| Land and buildings | 22 | €1,436,026 | €1,416,868 | -€19,158 | -1.3% |
| Plant, machinery and equipment | 23 | €134,481 | €118,027 | -€16,454 | -12.2% |
| Furniture and vehicles | 24 | €17,661 | €16,708 | -€953 | -5.4% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €12,097 | €90,864 | +€78,767 | +651.1% |
| Amounts receivable within one year | 40/41 | €8,541 | €19,200 | +€10,660 | +124.8% |
| Other amounts receivable | 41 | €8,541 | €19,200 | +€10,660 | +124.8% |
| Cash at bank and in hand | 54/58 | €126 | €1,799 | +€1,673 | +1325.4% |
| Deferred charges and accrued income | 490/1 | €3,431 | €69,865 | +€66,434 | +1936.5% |
| Total equity and liabilities | 10/49 | €1,600,666 | €1,642,868 | +€42,202 | +2.6% |
| Equity | 10/15 | €495,920 | €554,711 | +€58,791 | +11.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €477,328 | €536,119 | +€58,791 | +12.3% |
| Tax-exempt reserves | 132 | €189,264 | €178,127 | -€11,136 | -5.9% |
| Distributable reserves | 133 | €288,064 | €357,992 | +€69,927 | +24.3% |
| Provisions and deferred taxes | 16 | €62,862 | €59,150 | -€3,712 | -5.9% |
| Deferred taxes | 168 | €62,862 | €59,150 | -€3,712 | -5.9% |
| Amounts payable | 17/49 | €1,041,883 | €1,029,006 | -€12,877 | -1.2% |
| Amounts payable after more than one year | 17 | €754,702 | €654,017 | -€100,685 | -13.3% |
| Financial debts | 170/4 | €754,702 | €654,017 | -€100,685 | -13.3% |
| Amounts payable within one year | 42/48 | €286,728 | €372,005 | +€85,277 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €94,309 | €102,711 | +€8,403 | +8.9% |
| Financial debts | 43 | €12,809 | €35,000 | +€22,191 | +173.2% |
| Credit institutions | 430/8 | €12,809 | €15,000 | +€2,191 | +17.1% |
| Other loans | 439 | - | €20,000 | +€20,000 | |
| Trade debts | 44 | €3,147 | €28,674 | +€25,527 | +811.1% |
| Suppliers | 440/4 | €3,147 | €28,674 | +€25,527 | +811.1% |
| Taxes, remuneration and social security | 45 | €16,379 | €18,309 | +€1,930 | +11.8% |
| Taxes | 450/3 | €16,379 | €18,309 | +€1,930 | +11.8% |
| Other amounts payable | 47/48 | €160,083 | €187,310 | +€27,227 | +17.0% |
| Accrued charges and deferred income | 492/3 | €454 | €2,985 | +€2,531 | +557.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,099 | €134,292 | +€7,193 | +5.7% |
| Other operating charges | 640/8 | €9,060 | €9,731 | +€671 | +7.4% |
| Gross operating margin | 9900 | €263,990 | €273,737 | +€9,747 | +3.7% |
| Operating profit (loss) | 9901 | €127,831 | €129,714 | +€1,882 | +1.5% |
| Financial income | 75/76B | €821 | €341 | -€481 | -58.5% |
| Recurring financial income | 75 | €821 | €341 | -€481 | -58.5% |
| Financial charges | 65/66B | €51,461 | €39,949 | -€11,512 | -22.4% |
| Recurring financial charges | 65 | €51,461 | €39,949 | -€11,512 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €77,191 | €90,105 | +€12,914 | +16.7% |
| Transfer from deferred taxes | 780 | €3,712 | €3,712 | = | 0.0% |
| Income taxes | 67/77 | €31,227 | €35,027 | +€3,800 | +12.2% |
| Profit (loss) for the period | 9904 | €49,677 | €58,791 | +€9,114 | +18.3% |
| Transfer from tax-exempt reserves | 789 | €11,136 | €11,136 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,813 | €69,927 | +€9,114 | +15.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.