ESSEFFE: 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.
ESSEFFE
Largest movements
- Cash -€66,650
down €66,650 (-82.5%), from €80,773 to €14,123
mainly Debts after one year (-€69,967) and Tax, wage and social debts (-€19,262)
- Tangible fixed assets -€22,252
down €22,252 (-33.7%), from €66,088 to €43,835
of which Land and buildings: -€18,577
- Receivables within one year +€2,354
up €2,354 (+5.3%), from €44,329 to €46,683
of which Trade receivables: +€9,583
- Debts after one year -€69,967
down €69,967 (-100.0%), from €69,967 to €0
- Trade debts +€19,966
up €19,966 (+8001.3%), from €250 to €20,215
- Tax, wage and social debts -€19,262
down €19,262 (-62.9%), from €30,607 to €11,344
- Current portion of long-term debt -€15,509
down €15,509 (-100.0%), from €15,509 to €0
- Reserves -€2,182
down €2,182 (-2.4%), from €89,161 to €86,979
of which Tax-exempt reserves: -€2,182
- Gross operating margin -€61,921
down €61,921 (-73.6%), from €84,155 to €22,234
- Taxes -€17,512
down €17,512 (-87.9%), from €19,916 to €2,404
- Depreciation -€5,615
down €5,615 (-22.1%), from €25,434 to €19,819
- Financial charges -€4,794
down €4,794 (-76.8%), from €6,238 to €1,444
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 | €210,210 | €123,487 | -€86,723 | -41.3% |
| Fixed assets | 21/28 | €66,338 | €44,085 | -€22,252 | -33.5% |
| Tangible fixed assets | 22/27 | €66,088 | €43,835 | -€22,252 | -33.7% |
| Land and buildings | 22 | €61,194 | €42,617 | -€18,577 | -30.4% |
| Furniture and vehicles | 24 | €4,894 | €1,219 | -€3,675 | -75.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €143,872 | €79,402 | -€64,471 | -44.8% |
| Amounts receivable after more than one year | 29 | €18,595 | €18,595 | = | 0.0% |
| Other amounts receivable | 291 | €18,595 | €18,595 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €44,329 | €46,683 | +€2,354 | +5.3% |
| Trade receivables | 40 | €28,750 | €38,333 | +€9,583 | +33.3% |
| Other amounts receivable | 41 | €15,579 | €8,350 | -€7,229 | -46.4% |
| Cash at bank and in hand | 54/58 | €80,773 | €14,123 | -€66,650 | -82.5% |
| Deferred charges and accrued income | 490/1 | €175 | €0 | -€175 | -100.0% |
| Total equity and liabilities | 10/49 | €210,210 | €123,487 | -€86,723 | -41.3% |
| Equity | 10/15 | €90,016 | €89,189 | -€827 | -0.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €89,161 | €86,979 | -€2,182 | -2.4% |
| Tax-exempt reserves | 132 | €7,501 | €5,319 | -€2,182 | -29.1% |
| Distributable reserves | 133 | €81,661 | €81,661 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,738 | -€16,383 | +€1,355 | +7.6% |
| Provisions and deferred taxes | 16 | €3,862 | €2,739 | -€1,124 | -29.1% |
| Deferred taxes | 168 | €3,862 | €2,739 | -€1,124 | -29.1% |
| Amounts payable | 17/49 | €116,332 | €31,559 | -€84,772 | -72.9% |
| Amounts payable after more than one year | 17 | €69,967 | €0 | -€69,967 | -100.0% |
| Financial debts | 170/4 | €69,967 | €0 | -€69,967 | -100.0% |
| Amounts payable within one year | 42/48 | €46,365 | €31,559 | -€14,805 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €15,509 | €0 | -€15,509 | -100.0% |
| Trade debts | 44 | €250 | €20,215 | +€19,966 | +8001.3% |
| Suppliers | 440/4 | €250 | €20,215 | +€19,966 | +8001.3% |
| Taxes, remuneration and social security | 45 | €30,607 | €11,344 | -€19,262 | -62.9% |
| Taxes | 450/3 | €30,607 | €11,344 | -€19,262 | -62.9% |
| Non-recurring operating income | 76A | - | €5,028 | +€5,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,434 | €19,819 | -€5,615 | -22.1% |
| Other operating charges | 640/8 | €2,310 | €1,750 | -€560 | -24.3% |
| Gross operating margin | 9900 | €84,155 | €22,234 | -€61,921 | -73.6% |
| Operating profit (loss) | 9901 | €56,411 | €666 | -€55,745 | -98.8% |
| Financial income | 75/76B | €1,186 | €1,231 | +€45 | +3.8% |
| Recurring financial income | 75 | €1,186 | €1,231 | +€45 | +3.8% |
| Financial charges | 65/66B | €6,238 | €1,444 | -€4,794 | -76.8% |
| Recurring financial charges | 65 | €6,238 | €1,444 | -€4,794 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | €51,360 | €454 | -€50,906 | -99.1% |
| Transfer from deferred taxes | 780 | €1,124 | €1,124 | = | 0.0% |
| Income taxes | 67/77 | €19,916 | €2,404 | -€17,512 | -87.9% |
| Profit (loss) for the period | 9904 | €32,567 | -€827 | -€33,394 | |
| Transfer from tax-exempt reserves | 789 | €2,182 | €2,182 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,749 | €1,355 | -€33,394 | -96.1% |
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 5 October 2026 via checked.be.