ESSEC TELECOM SYSTEMS: 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.
ESSEC TELECOM SYSTEMS
Largest movements
- Receivables within one year -€981,746
down €981,746 (-27.5%), from €3.6m to €2.6m
of which Other amounts receivable: -€709,805
- Stocks and contracts -€172,184
down €172,184 (-22.3%), from €770,969 to €598,784
- Tangible fixed assets -€159,549
down €159,549 (-26.6%), from €599,585 to €440,036
of which Furniture and vehicles: -€145,412
- Cash -€60,543
down €60,543 (-10.2%), from €592,057 to €531,514
mainly Other debts (-€1.1m) and Contributions, distributions and other (-€500,000)
- Other debts -€1.1m
down €1.1m (-67.8%), from €1.6m to €514,252
- Reserves -€320,242
down €320,242 (-18.7%), from €1.7m to €1.4m
of which Distributable reserves: -€320,242
- Accrued charges and deferred income +€272,348
up €272,348 (+96.2%), from €283,017 to €555,365
- Trade debts -€134,709
down €134,709 (-38.5%), from €350,232 to €215,522
- Debts after one year -€104,306
down €104,306 (-31.1%), from €335,501 to €231,194
- Staff costs +€395,176
up €395,176 (+15.7%), from €2.5m to €2.9m
- Gross operating margin -€145,243
down €145,243 (-4.0%), from €3.6m to €3.5m
- Taxes -€129,770
down €129,770 (-59.9%), from €216,752 to €86,982
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 | €5,615,065 | €4,255,051 | -€1.4m | -24.2% |
| Fixed assets | 21/28 | €599,585 | €440,036 | -€159,549 | -26.6% |
| Tangible fixed assets | 22/27 | €599,585 | €440,036 | -€159,549 | -26.6% |
| Plant, machinery and equipment | 23 | €20,489 | €6,351 | -€14,137 | -69.0% |
| Furniture and vehicles | 24 | €579,097 | €433,685 | -€145,412 | -25.1% |
| Current assets | 29/58 | €5,015,480 | €3,815,015 | -€1.2m | -23.9% |
| Stocks and contracts in progress | 3 | €770,969 | €598,784 | -€172,184 | -22.3% |
| Stocks | 30/36 | €770,969 | €598,784 | -€172,184 | -22.3% |
| Amounts receivable within one year | 40/41 | €3,564,166 | €2,582,420 | -€981,746 | -27.5% |
| Trade receivables | 40 | €1,051,243 | €779,302 | -€271,942 | -25.9% |
| Other amounts receivable | 41 | €2,512,923 | €1,803,118 | -€709,805 | -28.2% |
| Cash at bank and in hand | 54/58 | €592,057 | €531,514 | -€60,543 | -10.2% |
| Deferred charges and accrued income | 490/1 | €88,288 | €102,297 | +€14,009 | +15.9% |
| Total equity and liabilities | 10/49 | €5,615,065 | €4,255,051 | -€1.4m | -24.2% |
| Equity | 10/15 | €2,185,940 | €1,865,698 | -€320,242 | -14.7% |
| Contributions | 10/11 | €469,000 | €469,000 | = | 0.0% |
| Capital | 10 | €469,000 | €469,000 | = | 0.0% |
| Issued capital | 100 | €469,000 | €469,000 | = | 0.0% |
| Reserves | 13 | €1,716,940 | €1,396,698 | -€320,242 | -18.7% |
| Non-distributable reserves | 130/1 | €46,900 | €46,900 | = | 0.0% |
| Legal reserve | 130 | €46,900 | €46,900 | = | 0.0% |
| Distributable reserves | 133 | €1,670,040 | €1,349,798 | -€320,242 | -19.2% |
| Amounts payable | 17/49 | €3,429,125 | €2,389,354 | -€1.0m | -30.3% |
| Amounts payable after more than one year | 17 | €335,501 | €231,194 | -€104,306 | -31.1% |
| Financial debts | 170/4 | €335,501 | €231,194 | -€104,306 | -31.1% |
| Amounts payable within one year | 42/48 | €2,810,608 | €1,602,794 | -€1.2m | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €134,605 | €146,163 | +€11,558 | +8.6% |
| Financial debts | 43 | €234,951 | €223,221 | -€11,729 | -5.0% |
| Other loans | 439 | €234,951 | €223,221 | -€11,729 | -5.0% |
| Trade debts | 44 | €350,232 | €215,522 | -€134,709 | -38.5% |
| Suppliers | 440/4 | €350,232 | €215,522 | -€134,709 | -38.5% |
| Taxes, remuneration and social security | 45 | €495,420 | €503,636 | +€8,216 | +1.7% |
| Taxes | 450/3 | €191,989 | €178,801 | -€13,188 | -6.9% |
| Remuneration and social security | 454/9 | €303,431 | €324,835 | +€21,404 | +7.1% |
| Other amounts payable | 47/48 | €1,595,400 | €514,252 | -€1.1m | -67.8% |
| Accrued charges and deferred income | 492/3 | €283,017 | €555,365 | +€272,348 | +96.2% |
| Remuneration, social security and pensions | 62 | €2,515,291 | €2,910,468 | +€395,176 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224,871 | €214,777 | -€10,094 | -4.5% |
| Other operating charges | 640/8 | €8,856 | €7,072 | -€1,784 | -20.1% |
| Non-recurring operating charges | 66A | €1,062 | - | -€1,062 | |
| Gross operating margin | 9900 | €3,627,159 | €3,481,916 | -€145,243 | -4.0% |
| Operating profit (loss) | 9901 | €877,079 | €349,600 | -€527,479 | -60.1% |
| Financial income | 75/76B | - | €1,335 | +€1,335 | |
| Recurring financial income | 75 | - | €1,335 | +€1,335 | |
| Financial charges | 65/66B | €87,603 | €84,195 | -€3,408 | -3.9% |
| Recurring financial charges | 65 | €87,603 | €84,195 | -€3,408 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €789,476 | €266,740 | -€522,736 | -66.2% |
| Income taxes | 67/77 | €216,752 | €86,982 | -€129,770 | -59.9% |
| Profit (loss) for the period | 9904 | €572,724 | €179,758 | -€392,966 | -68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €572,724 | €179,758 | -€392,966 | -68.6% |
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 9 October 2026 via checked.be.