ESQUIRE: 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.
ESQUIRE
Largest movements
- Receivables after one year -€81,500
down €81,500 (-69.7%), from €117,000 to €35,500
- Receivables within one year -€23,437
down €23,437 (-56.1%), from €41,751 to €18,314
of which Trade receivables: -€25,410
- Cash +€11,887
up €11,887 (+91.7%), from €12,960 to €24,848
mainly Receivables after one year (+€81,500) and Depreciation (+€34,535)
- Other debts -€34,868
down €34,868 (-79.3%), from €43,968 to €9,101
- Trade debts -€28,755
down €28,755 (-78.3%), from €36,728 to €7,974
- Debts after one year -€14,742
down €14,742 (-6.7%), from €219,480 to €204,738
of which Financial debts: -€21,742
- Current portion of long-term debt -€10,589
down €10,589 (-32.8%), from €32,331 to €21,742
- Gross operating margin -€26,677
down €26,677 (-34.0%), from €78,549 to €51,872
- Taxes -€14,050
down €14,050 (-82.4%), from €17,050 to €3,000
- Depreciation +€12,256
up €12,256 (+55.0%), from €22,279 to €34,535
- Financial income -€5,142
down €5,142 (-89.5%), from €5,742 to €600
- Financial charges +€4,482
up €4,482 (+862.6%), from €520 to €5,001
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 | €666,790 | €583,941 | -€82,848 | -12.4% |
| Fixed assets | 21/28 | €492,924 | €496,542 | +€3,618 | +0.7% |
| Tangible fixed assets | 22/27 | €132,624 | €136,242 | +€3,618 | +2.7% |
| Plant, machinery and equipment | 23 | €114,574 | €134,477 | +€19,903 | +17.4% |
| Furniture and vehicles | 24 | €18,050 | €1,765 | -€16,285 | -90.2% |
| Financial fixed assets | 28 | €360,300 | €360,300 | = | 0.0% |
| Current assets | 29/58 | €173,866 | €87,400 | -€86,466 | -49.7% |
| Amounts receivable after more than one year | 29 | €117,000 | €35,500 | -€81,500 | -69.7% |
| Other amounts receivable | 291 | €117,000 | €35,500 | -€81,500 | -69.7% |
| Amounts receivable within one year | 40/41 | €41,751 | €18,314 | -€23,437 | -56.1% |
| Trade receivables | 40 | €25,410 | - | -€25,410 | |
| Other amounts receivable | 41 | €16,341 | €18,314 | +€1,973 | +12.1% |
| Cash at bank and in hand | 54/58 | €12,960 | €24,848 | +€11,887 | +91.7% |
| Deferred charges and accrued income | 490/1 | €2,154 | €8,738 | +€6,583 | +305.6% |
| Total equity and liabilities | 10/49 | €666,790 | €583,941 | -€82,848 | -12.4% |
| Equity | 10/15 | €327,747 | €327,747 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €326,747 | €326,747 | = | 0.0% |
| Distributable reserves | 133 | €326,747 | €326,747 | = | 0.0% |
| Amounts payable | 17/49 | €339,043 | €256,194 | -€82,848 | -24.4% |
| Amounts payable after more than one year | 17 | €219,480 | €204,738 | -€14,742 | -6.7% |
| Financial debts | 170/4 | €129,352 | €107,610 | -€21,742 | -16.8% |
| Other amounts payable | 178/9 | €90,128 | €97,128 | +€7,000 | +7.8% |
| Amounts payable within one year | 42/48 | €119,563 | €51,456 | -€68,107 | -57.0% |
| Current portion of amounts payable after more than one year | 42 | €32,331 | €21,742 | -€10,589 | -32.8% |
| Trade debts | 44 | €36,728 | €7,974 | -€28,755 | -78.3% |
| Suppliers | 440/4 | €36,728 | €7,974 | -€28,755 | -78.3% |
| Advances received on contracts in progress | 46 | €320 | €2,743 | +€2,423 | +757.3% |
| Taxes, remuneration and social security | 45 | €6,215 | €9,897 | +€3,681 | +59.2% |
| Taxes | 450/3 | €6,215 | €6,748 | +€533 | +8.6% |
| Remuneration and social security | 454/9 | - | €3,149 | +€3,149 | |
| Other amounts payable | 47/48 | €43,968 | €9,101 | -€34,868 | -79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,279 | €34,535 | +€12,256 | +55.0% |
| Other operating charges | 640/8 | €474 | €835 | +€361 | +76.2% |
| Gross operating margin | 9900 | €78,549 | €51,872 | -€26,677 | -34.0% |
| Operating profit (loss) | 9901 | €55,795 | €16,502 | -€39,294 | -70.4% |
| Financial income | 75/76B | €5,742 | €600 | -€5,142 | -89.5% |
| Recurring financial income | 75 | €5,742 | €600 | -€5,142 | -89.5% |
| Financial charges | 65/66B | €520 | €5,001 | +€4,482 | +862.6% |
| Recurring financial charges | 65 | €520 | €5,001 | +€4,482 | +862.6% |
| Profit (loss) for the period before taxes | 9903 | €61,018 | €12,101 | -€48,917 | -80.2% |
| Income taxes | 67/77 | €17,050 | €3,000 | -€14,050 | -82.4% |
| Profit (loss) for the period | 9904 | €43,968 | €9,101 | -€34,868 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,968 | €9,101 | -€34,868 | -79.3% |
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 6 October 2026 via checked.be.