ESRA: 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.
ESRA
Largest movements
- Tangible fixed assets -€25,822
down €25,822 (-23.1%), from €111,568 to €85,746
of which Leasing and similar rights: -€15,673
- Receivables within one year +€3,413
up €3,413 (+10.3%), from €33,097 to €36,510
of which Other amounts receivable: +€1,863
- Debts after one year -€13,277
down €13,277 (-24.8%), from €53,633 to €40,356
- Trade debts +€6,338
up €6,338 (+15.7%), from €40,492 to €46,830
- Other debts -€5,861
no longer reported in 2025 (was €5,861)
- Tax, wage and social debts -€5,428
down €5,428 (-33.4%), from €16,273 to €10,845
of which Taxes: -€11,162
- Profit (loss) carried forward -€5,244
down €5,244 (-52.3%), from €10,035 to €4,791
- Staff costs +€30,809
up €30,809 (+1630.8%), from €1,889 to €32,698
- Gross operating margin +€27,820
up €27,820 (+65.3%), from €42,629 to €70,449
- Depreciation +€14,120
up €14,120 (+120.7%), from €11,702 to €25,822
- Financial charges +€7,705
up €7,705 (+105.3%), from €7,319 to €15,024
- Taxes -€6,343
down €6,343 (-83.2%), from €7,621 to €1,278
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 | €169,979 | €147,646 | -€22,333 | -13.1% |
| Fixed assets | 21/28 | €111,568 | €85,746 | -€25,822 | -23.1% |
| Tangible fixed assets | 22/27 | €111,568 | €85,746 | -€25,822 | -23.1% |
| Plant, machinery and equipment | 23 | €5,054 | €3,189 | -€1,865 | -36.9% |
| Furniture and vehicles | 24 | €755 | €304 | -€451 | -59.7% |
| Leasing and similar rights | 25 | €72,497 | €56,824 | -€15,673 | -21.6% |
| Other tangible fixed assets | 26 | €33,262 | €25,429 | -€7,833 | -23.5% |
| Current assets | 29/58 | €58,411 | €61,900 | +€3,489 | +6.0% |
| Stocks and contracts in progress | 3 | €6,478 | €7,426 | +€948 | +14.6% |
| Stocks | 30/36 | €6,478 | €7,426 | +€948 | +14.6% |
| Amounts receivable within one year | 40/41 | €33,097 | €36,510 | +€3,413 | +10.3% |
| Trade receivables | 40 | €31,958 | €33,508 | +€1,550 | +4.9% |
| Other amounts receivable | 41 | €1,139 | €3,002 | +€1,863 | +163.6% |
| Cash at bank and in hand | 54/58 | €14,833 | €14,006 | -€827 | -5.6% |
| Deferred charges and accrued income | 490/1 | €4,002 | €3,958 | -€44 | -1.1% |
| Total equity and liabilities | 10/49 | €169,979 | €147,646 | -€22,333 | -13.1% |
| Equity | 10/15 | €41,582 | €36,338 | -€5,244 | -12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €25,347 | €25,347 | = | 0.0% |
| Distributable reserves | 133 | €25,347 | €25,347 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,035 | €4,791 | -€5,244 | -52.3% |
| Amounts payable | 17/49 | €128,397 | €111,308 | -€17,089 | -13.3% |
| Amounts payable after more than one year | 17 | €53,633 | €40,356 | -€13,277 | -24.8% |
| Financial debts | 170/4 | €53,633 | €40,356 | -€13,277 | -24.8% |
| Amounts payable within one year | 42/48 | €74,763 | €70,952 | -€3,811 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €12,138 | €13,277 | +€1,139 | +9.4% |
| Trade debts | 44 | €40,492 | €46,830 | +€6,338 | +15.7% |
| Suppliers | 440/4 | €40,492 | €46,830 | +€6,338 | +15.7% |
| Taxes, remuneration and social security | 45 | €16,273 | €10,845 | -€5,428 | -33.4% |
| Taxes | 450/3 | €16,073 | €4,911 | -€11,162 | -69.4% |
| Remuneration and social security | 454/9 | €200 | €5,934 | +€5,734 | +2866.3% |
| Other amounts payable | 47/48 | €5,861 | - | -€5,861 | |
| Remuneration, social security and pensions | 62 | €1,889 | €32,698 | +€30,809 | +1630.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,702 | €25,822 | +€14,120 | +120.7% |
| Other operating charges | 640/8 | €4,693 | €922 | -€3,771 | -80.4% |
| Gross operating margin | 9900 | €42,629 | €70,449 | +€27,820 | +65.3% |
| Operating profit (loss) | 9901 | €24,345 | €11,007 | -€13,338 | -54.8% |
| Financial income | 75/76B | €35 | €51 | +€16 | +44.9% |
| Recurring financial income | 75 | €35 | €51 | +€16 | +44.9% |
| Financial charges | 65/66B | €7,319 | €15,024 | +€7,705 | +105.3% |
| Recurring financial charges | 65 | €7,319 | €15,024 | +€7,705 | +105.3% |
| Profit (loss) for the period before taxes | 9903 | €17,061 | -€3,966 | -€21,028 | |
| Income taxes | 67/77 | €7,621 | €1,278 | -€6,343 | -83.2% |
| Profit (loss) for the period | 9904 | €9,440 | -€5,244 | -€14,684 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,440 | -€5,244 | -€14,684 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.