ESSA: 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.
ESSA
Largest movements
- Stocks and contracts -€1.6m
no longer reported in 2025 (was €1.6m)
- Receivables within one year +€1.3m
up €1.3m (+179%), from €700,536 to €2.0m
of which Trade receivables: +€1.3m
- Receivables after one year -€212,919
no longer reported in 2025 (was €212,919)
- Cash -€116,308
down €116,308 (-58.6%), from €198,576 to €82,268
mainly Receivables within one year (-€1.3m) and Advances received (-€865,865)
- Tangible fixed assets +€115,853
up €115,853 (+79.3%), from €146,045 to €261,898
of which Furniture and vehicles: +€78,160
- Advances received -€865,865
no longer reported in 2025 (was €865,865)
- Other debts +€329,356
up €329,356 (+74.9%), from €440,000 to €769,356
- Short-term financial debts +€166,844
new in 2025: €166,844
- Trade debts -€139,980
down €139,980 (-25.0%), from €560,986 to €421,007
- Reserves +€127,244
up €127,244 (+21.0%), from €606,595 to €733,839
- Gross operating margin +€2.9m
up €2.9m (+82.8%), from €3.5m to €6.3m
- Staff costs +€2.7m
up €2.7m (+94.3%), from €2.8m to €5.5m
- Financial charges -€139,576
down €139,576 (-75.2%), from €185,488 to €45,912
- Taxes -€110,303
down €110,303 (-37.0%), from €298,255 to €187,952
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.
Derived cash bridge
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 | €2,829,511 | €2,306,559 | -€522,952 | -18.5% |
| Fixed assets | 21/28 | €147,955 | €264,694 | +€116,739 | +78.9% |
| Tangible fixed assets | 22/27 | €146,045 | €261,898 | +€115,853 | +79.3% |
| Plant, machinery and equipment | 23 | €54,300 | €83,971 | +€29,671 | +54.6% |
| Furniture and vehicles | 24 | €91,745 | €169,905 | +€78,160 | +85.2% |
| Other tangible fixed assets | 26 | - | €8,022 | +€8,022 | |
| Financial fixed assets | 28 | €1,910 | €2,797 | +€887 | +46.4% |
| Current assets | 29/58 | €2,681,555 | €2,041,864 | -€639,691 | -23.9% |
| Amounts receivable after more than one year | 29 | €212,919 | - | -€212,919 | |
| Other amounts receivable | 291 | €212,919 | - | -€212,919 | |
| Stocks and contracts in progress | 3 | €1,564,000 | - | -€1.6m | |
| Contracts in progress | 37 | €1,564,000 | - | -€1.6m | |
| Amounts receivable within one year | 40/41 | €700,536 | €1,954,379 | +€1.3m | +179% |
| Trade receivables | 40 | €432,163 | €1,765,882 | +€1.3m | +309% |
| Other amounts receivable | 41 | €268,373 | €188,497 | -€79,876 | -29.8% |
| Cash at bank and in hand | 54/58 | €198,576 | €82,268 | -€116,308 | -58.6% |
| Deferred charges and accrued income | 490/1 | €5,524 | €5,217 | -€307 | -5.6% |
| Total equity and liabilities | 10/49 | €2,829,511 | €2,306,559 | -€522,952 | -18.5% |
| Equity | 10/15 | €612,795 | €740,039 | +€127,244 | +20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €606,595 | €733,839 | +€127,244 | +21.0% |
| Distributable reserves | 133 | €606,595 | €733,839 | +€127,244 | +21.0% |
| Amounts payable | 17/49 | €2,216,715 | €1,566,520 | -€650,196 | -29.3% |
| Amounts payable after more than one year | 17 | €4,555 | - | -€4,555 | |
| Financial debts | 170/4 | €4,555 | - | -€4,555 | |
| Amounts payable within one year | 42/48 | €2,207,660 | €1,566,520 | -€641,140 | -29.0% |
| Current portion of amounts payable after more than one year | 42 | €8,970 | €4,555 | -€4,415 | -49.2% |
| Financial debts | 43 | - | €166,844 | +€166,844 | |
| Credit institutions | 430/8 | - | €166,844 | +€166,844 | |
| Trade debts | 44 | €560,986 | €421,007 | -€139,980 | -25.0% |
| Suppliers | 440/4 | €560,986 | €421,007 | -€139,980 | -25.0% |
| Advances received on contracts in progress | 46 | €865,865 | - | -€865,865 | |
| Taxes, remuneration and social security | 45 | €331,839 | €204,758 | -€127,081 | -38.3% |
| Taxes | 450/3 | €202,972 | - | -€202,972 | |
| Remuneration and social security | 454/9 | €128,867 | €204,758 | +€75,891 | +58.9% |
| Other amounts payable | 47/48 | €440,000 | €769,356 | +€329,356 | +74.9% |
| Accrued charges and deferred income | 492/3 | €4,500 | - | -€4,500 | |
| Non-recurring operating income | 76A | - | €17,111 | +€17,111 | |
| Remuneration, social security and pensions | 62 | €2,818,205 | €5,474,519 | +€2.7m | +94.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,418 | €69,756 | +€45,338 | +186% |
| Other operating charges | 640/8 | €15,173 | €19,732 | +€4,560 | +30.1% |
| Non-recurring operating charges | 66A | - | €12,085 | +€12,085 | |
| Gross operating margin | 9900 | €3,467,269 | €6,337,143 | +€2.9m | +82.8% |
| Operating profit (loss) | 9901 | €609,474 | €761,052 | +€151,578 | +24.9% |
| Financial income | 75/76B | €12,524 | €56 | -€12,469 | -99.6% |
| Recurring financial income | 75 | €12,524 | €56 | -€12,469 | -99.6% |
| Financial charges | 65/66B | €185,488 | €45,912 | -€139,576 | -75.2% |
| Recurring financial charges | 65 | €185,488 | €45,912 | -€139,576 | -75.2% |
| Profit (loss) for the period before taxes | 9903 | €436,510 | €715,195 | +€278,685 | +63.8% |
| Income taxes | 67/77 | €298,255 | €187,952 | -€110,303 | -37.0% |
| Profit (loss) for the period | 9904 | €138,255 | €527,244 | +€388,989 | +281% |
| Profit (loss) for the period to be appropriated | 9905 | €138,255 | €527,244 | +€388,989 | +281% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.