ESRAS: 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.
ESRAS
Largest movements
- Receivables within one year +€21,199
up €21,199 (+4315.8%), from €491 to €21,690
of which Other amounts receivable: +€21,540
- Cash +€12,554
up €12,554 (+58.9%), from €21,314 to €33,869
mainly Net result for the year (+€29,710) and Tax, wage and social debts (+€8,928)
- Tangible fixed assets -€1,781
down €1,781 (-6.4%), from €27,667 to €25,887
- Profit (loss) carried forward +€29,710
new in 2025: €29,710
- Tax, wage and social debts +€8,928
up €8,928 (+191.1%), from €4,672 to €13,600
- Debts after one year -€4,861
down €4,861 (-24.1%), from €20,138 to €15,278
- Other debts -€1,173
down €1,173 (-95.9%), from €1,223 to €50
- Gross operating margin +€38,840
up €38,840 (+424.1%), from €9,157 to €47,998
- Taxes +€6,593
up €6,593 (+357.1%), from €1,846 to €8,439
- Depreciation +€5,837
up €5,837 (+277.6%), from €2,102 to €7,939
- Financial charges +€649
up €649 (+123.2%), from €527 to €1,176
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 | €49,975 | €82,149 | +€32,174 | +64.4% |
| Fixed assets | 21/28 | €28,169 | €26,221 | -€1,949 | -6.9% |
| Intangible fixed assets | 21 | €502 | €334 | -€168 | -33.5% |
| Tangible fixed assets | 22/27 | €27,667 | €25,887 | -€1,781 | -6.4% |
| Plant, machinery and equipment | 23 | €332 | €82 | -€250 | -75.4% |
| Furniture and vehicles | 24 | €25,915 | €25,026 | -€889 | -3.4% |
| Other tangible fixed assets | 26 | €1,421 | €779 | -€642 | -45.2% |
| Current assets | 29/58 | €21,805 | €55,928 | +€34,123 | +156.5% |
| Amounts receivable within one year | 40/41 | €491 | €21,690 | +€21,199 | +4315.8% |
| Trade receivables | 40 | €491 | €150 | -€341 | -69.5% |
| Other amounts receivable | 41 | - | €21,540 | +€21,540 | |
| Cash at bank and in hand | 54/58 | €21,314 | €33,869 | +€12,554 | +58.9% |
| Deferred charges and accrued income | 490/1 | - | €369 | +€369 | |
| Total equity and liabilities | 10/49 | €49,975 | €82,149 | +€32,174 | +64.4% |
| Equity | 10/15 | €18,480 | €48,190 | +€29,710 | +160.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,480 | €15,480 | = | 0.0% |
| Distributable reserves | 133 | €15,480 | €15,480 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €29,710 | +€29,710 | |
| Amounts payable | 17/49 | €31,495 | €33,958 | +€2,464 | +7.8% |
| Amounts payable after more than one year | 17 | €20,138 | €15,278 | -€4,861 | -24.1% |
| Financial debts | 170/4 | €20,138 | €15,278 | -€4,861 | -24.1% |
| Amounts payable within one year | 42/48 | €11,356 | €18,681 | +€7,324 | +64.5% |
| Current portion of amounts payable after more than one year | 42 | €4,680 | €4,861 | +€181 | +3.9% |
| Trade debts | 44 | €225 | €170 | -€55 | -24.4% |
| Suppliers | 440/4 | €225 | €170 | -€55 | -24.4% |
| Advances received on contracts in progress | 46 | €557 | - | -€557 | |
| Taxes, remuneration and social security | 45 | €4,672 | €13,600 | +€8,928 | +191.1% |
| Taxes | 450/3 | €4,672 | €13,600 | +€8,928 | +191.1% |
| Other amounts payable | 47/48 | €1,223 | €50 | -€1,173 | -95.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,102 | €7,939 | +€5,837 | +277.6% |
| Other operating charges | 640/8 | €555 | €745 | +€189 | +34.1% |
| Gross operating margin | 9900 | €9,157 | €47,998 | +€38,840 | +424.1% |
| Operating profit (loss) | 9901 | €6,500 | €39,314 | +€32,814 | +504.8% |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €527 | €1,176 | +€649 | +123.2% |
| Recurring financial charges | 65 | €527 | €1,176 | +€649 | +123.2% |
| Profit (loss) for the period before taxes | 9903 | €5,973 | €38,150 | +€32,176 | +538.7% |
| Income taxes | 67/77 | €1,846 | €8,439 | +€6,593 | +357.1% |
| Profit (loss) for the period | 9904 | €4,127 | €29,710 | +€25,583 | +619.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,127 | €29,710 | +€25,583 | +619.9% |
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 3 October 2026 via checked.be.