ESRO: 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.
ESRO
Largest movements
- Tangible fixed assets +€305,621
up €305,621 (+260.0%), from €117,539 to €423,160
- Receivables within one year +€41,329
up €41,329 (+192.9%), from €21,421 to €62,750
of which Other amounts receivable: +€62,750
- Cash -€14,348
down €14,348 (-55.9%), from €25,665 to €11,316
mainly Investment in fixed assets (net) (-€350,582) and Net result for the year (-€41,956)
- Other debts +€354,000
up €354,000 (+116.1%), from €305,000 to €659,000
- Profit (loss) carried forward -€41,956
down €41,956 (-43.6%), from €96,188 to €54,231
- Trade debts +€29,025
up €29,025 (+46815.3%), from €62 to €29,087
- Gross operating margin -€42,085
down €42,085 (-59.6%), from €70,583 to €28,498
- Other operating charges +€28,537
up €28,537 (+5184.6%), from €550 to €29,087
- Depreciation +€7,823
up €7,823 (+20.9%), from €37,389 to €45,211
- Financial income +€7,686
up €7,686 (+4603.0%), from €167 to €7,853
- Financial charges +€3,637
up €3,637 (+980.1%), from €371 to €4,009
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 | €497,212 | €829,563 | +€332,351 | +66.8% |
| Fixed assets | 21/28 | €450,126 | €755,497 | +€305,371 | +67.8% |
| Tangible fixed assets | 22/27 | €117,539 | €423,160 | +€305,621 | +260.0% |
| Land and buildings | 22 | €117,539 | €423,160 | +€305,621 | +260.0% |
| Financial fixed assets | 28 | €332,587 | €332,337 | -€250 | -0.1% |
| Current assets | 29/58 | €47,086 | €74,066 | +€26,981 | +57.3% |
| Amounts receivable within one year | 40/41 | €21,421 | €62,750 | +€41,329 | +192.9% |
| Trade receivables | 40 | €21,421 | - | -€21,421 | |
| Other amounts receivable | 41 | - | €62,750 | +€62,750 | |
| Cash at bank and in hand | 54/58 | €25,665 | €11,316 | -€14,348 | -55.9% |
| Total equity and liabilities | 10/49 | €497,212 | €829,563 | +€332,351 | +66.8% |
| Equity | 10/15 | €183,432 | €141,476 | -€41,956 | -22.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,045 | €81,045 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €79,185 | €79,185 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,188 | €54,231 | -€41,956 | -43.6% |
| Amounts payable | 17/49 | €313,780 | €688,087 | +€374,308 | +119.3% |
| Amounts payable within one year | 42/48 | €308,780 | €688,087 | +€379,308 | +122.8% |
| Trade debts | 44 | €62 | €29,087 | +€29,025 | +46815.3% |
| Suppliers | 440/4 | €62 | €29,087 | +€29,025 | +46815.3% |
| Taxes, remuneration and social security | 45 | €3,718 | - | -€3,718 | |
| Taxes | 450/3 | €3,718 | - | -€3,718 | |
| Other amounts payable | 47/48 | €305,000 | €659,000 | +€354,000 | +116.1% |
| Accrued charges and deferred income | 492/3 | €5,000 | - | -€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,389 | €45,211 | +€7,823 | +20.9% |
| Other operating charges | 640/8 | €550 | €29,087 | +€28,537 | +5184.6% |
| Gross operating margin | 9900 | €70,583 | €28,498 | -€42,085 | -59.6% |
| Operating profit (loss) | 9901 | €32,644 | -€45,800 | -€78,445 | |
| Financial income | 75/76B | €167 | €7,853 | +€7,686 | +4603.0% |
| Recurring financial income | 75 | €167 | €7,853 | +€7,686 | +4603.0% |
| Financial charges | 65/66B | €371 | €4,009 | +€3,637 | +980.1% |
| Recurring financial charges | 65 | €371 | €4,009 | +€3,637 | +980.1% |
| Profit (loss) for the period before taxes | 9903 | €32,440 | -€41,956 | -€74,397 | |
| Profit (loss) for the period | 9904 | €32,440 | -€41,956 | -€74,397 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,440 | -€41,956 | -€74,397 |
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 30 September 2026 via checked.be.