ESQW: 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.
ESQW
Largest movements
- Tangible fixed assets -€40,506
down €40,506 (-17.3%), from €233,534 to €193,027
- Stocks and contracts +€35,048
up €35,048 (+31.8%), from €110,079 to €145,127
- Receivables within one year -€8,226
down €8,226 (-13.4%), from €61,555 to €53,329
of which Other amounts receivable: -€14,383
- Reserves +€185,531
up €185,531 (+754%), from €24,610 to €210,141
of which Distributable reserves: +€208,281
- Profit (loss) carried forward -€127,619
down €127,619 (-100%), from €127,619 to €0
- Trade debts -€45,530
down €45,530 (-65.9%), from €69,136 to €23,606
- Debts after one year -€41,326
down €41,326 (-35.4%), from €116,749 to €75,424
- Tax, wage and social debts +€11,586
up €11,586 (+91.3%), from €12,690 to €24,277
of which Taxes: +€12,186
- Gross operating margin +€77,429
up €77,429 (+60.6%), from €127,743 to €205,171
- Staff costs +€8,567
up €8,567 (+15.2%), from €56,408 to €64,975
- Taxes -€4,452
down €4,452 (-24.9%), from €17,852 to €13,401
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €426,615 | €413,797 | -€12,818 | -3.0% |
| Fixed assets | 21/28 | €233,684 | €193,177 | -€40,506 | -17.3% |
| Tangible fixed assets | 22/27 | €233,534 | €193,027 | -€40,506 | -17.3% |
| Land and buildings | 22 | €157,084 | €137,410 | -€19,673 | -12.5% |
| Plant, machinery and equipment | 23 | €56,492 | €42,538 | -€13,955 | -24.7% |
| Furniture and vehicles | 24 | €19,958 | €13,079 | -€6,878 | -34.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €192,931 | €220,620 | +€27,688 | +14.4% |
| Stocks and contracts in progress | 3 | €110,079 | €145,127 | +€35,048 | +31.8% |
| Stocks | 30/36 | €110,079 | €145,127 | +€35,048 | +31.8% |
| Amounts receivable within one year | 40/41 | €61,555 | €53,329 | -€8,226 | -13.4% |
| Trade receivables | 40 | €44,023 | €50,180 | +€6,157 | +14.0% |
| Other amounts receivable | 41 | €17,532 | €3,149 | -€14,383 | -82.0% |
| Cash at bank and in hand | 54/58 | €20,707 | €22,070 | +€1,364 | +6.6% |
| Deferred charges and accrued income | 490/1 | €591 | €93 | -€498 | -84.2% |
| Total equity and liabilities | 10/49 | €426,615 | €413,797 | -€12,818 | -3.0% |
| Equity | 10/15 | €164,629 | €222,541 | +€57,912 | +35.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €24,610 | €210,141 | +€185,531 | +754% |
| Non-distributable reserves | 130/1 | €24,610 | €1,860 | -€22,750 | -92.4% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Other | 1319 | €22,750 | €1,860 | -€20,890 | -91.8% |
| Distributable reserves | 133 | - | €208,281 | +€208,281 | |
| Profit (loss) carried forward | 14 | €127,619 | €0 | -€127,619 | -100% |
| Amounts payable | 17/49 | €261,986 | €191,256 | -€70,730 | -27.0% |
| Amounts payable after more than one year | 17 | €116,749 | €75,424 | -€41,326 | -35.4% |
| Financial debts | 170/4 | €116,749 | €75,424 | -€41,326 | -35.4% |
| Amounts payable within one year | 42/48 | €145,236 | €115,832 | -€29,404 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €62,713 | €61,275 | -€1,438 | -2.3% |
| Financial debts | 43 | €697 | €1,298 | +€601 | +86.3% |
| Credit institutions | 430/8 | €697 | €1,298 | +€601 | +86.3% |
| Trade debts | 44 | €69,136 | €23,606 | -€45,530 | -65.9% |
| Suppliers | 440/4 | €69,136 | €23,606 | -€45,530 | -65.9% |
| Taxes, remuneration and social security | 45 | €12,690 | €24,277 | +€11,586 | +91.3% |
| Taxes | 450/3 | €8,957 | €21,143 | +€12,186 | +136% |
| Remuneration and social security | 454/9 | €3,733 | €3,134 | -€599 | -16.1% |
| Other amounts payable | 47/48 | - | €5,376 | +€5,376 | |
| Remuneration, social security and pensions | 62 | €56,408 | €64,975 | +€8,567 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,669 | €47,558 | -€111 | -0.2% |
| Other operating charges | 640/8 | €1,453 | €1,440 | -€13 | -0.9% |
| Non-recurring operating charges | 66A | €6,516 | €35 | -€6,481 | -99.5% |
| Gross operating margin | 9900 | €127,743 | €205,171 | +€77,429 | +60.6% |
| Operating profit (loss) | 9901 | €15,696 | €91,164 | +€75,467 | +481% |
| Financial income | 75/76B | €656 | €1,150 | +€494 | +75.4% |
| Recurring financial income | 75 | €656 | €1,150 | +€494 | +75.4% |
| Financial charges | 65/66B | €16,368 | €15,251 | -€1,118 | -6.8% |
| Recurring financial charges | 65 | €16,368 | €15,251 | -€1,118 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€16 | €77,063 | +€77,079 | |
| Income taxes | 67/77 | €17,852 | €13,401 | -€4,452 | -24.9% |
| Profit (loss) for the period | 9904 | -€17,869 | €63,662 | +€81,531 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,869 | €63,662 | +€81,531 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.