ESV Estates: 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.
ESV Estates
Largest movements
- Current investments -€355,821
down €355,821 (-100.0%), from €355,821 to €0
- Receivables within one year +€57,037
up €57,037 (+24.7%), from €230,539 to €287,576
of which Other amounts receivable: +€57,805
- Cash +€33,205
up €33,205 (+83.5%), from €39,764 to €72,969
mainly Current investments (+€355,821) and Depreciation (+€10,768)
- Financial fixed assets +€29,197
up €29,197 (+12.4%), from €236,329 to €265,526
- Provisions -€114,763
down €114,763 (-100.0%), from €114,763 to €0
- Other debts -€100,000
down €100,000 (-46.9%), from €212,996 to €112,996
- Debts after one year -€33,333
down €33,333 (-10.7%), from €311,112 to €277,778
- Taxes +€111,635
new in 2025: €111,635
- Financial income -€96,268
down €96,268 (-82.6%), from €116,605 to €20,336
of which Financial income: -€96,152
- Financial charges -€2,245
down €2,245 (-16.5%), from €13,607 to €11,362
- Depreciation -€1,372
down €1,372 (-11.3%), from €12,140 to €10,768
- Other operating charges +€116
up €116 (+3.0%), from €3,808 to €3,924
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 | €1,268,983 | €1,021,432 | -€247,551 | -19.5% |
| Fixed assets | 21/28 | €642,458 | €660,887 | +€18,429 | +2.9% |
| Tangible fixed assets | 22/27 | €406,129 | €395,362 | -€10,768 | -2.7% |
| Land and buildings | 22 | €406,129 | €395,362 | -€10,768 | -2.7% |
| Financial fixed assets | 28 | €236,329 | €265,526 | +€29,197 | +12.4% |
| Current assets | 29/58 | €626,524 | €360,544 | -€265,980 | -42.5% |
| Amounts receivable within one year | 40/41 | €230,539 | €287,576 | +€57,037 | +24.7% |
| Trade receivables | 40 | €768 | €0 | -€768 | -100.0% |
| Other amounts receivable | 41 | €229,771 | €287,576 | +€57,805 | +25.2% |
| Current investments | 50/53 | €355,821 | €0 | -€355,821 | -100.0% |
| Cash at bank and in hand | 54/58 | €39,764 | €72,969 | +€33,205 | +83.5% |
| Deferred charges and accrued income | 490/1 | €401 | €0 | -€401 | -100.0% |
| Total equity and liabilities | 10/49 | €1,268,983 | €1,021,432 | -€247,551 | -19.5% |
| Equity | 10/15 | €587,939 | €581,571 | -€6,368 | -1.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €487,939 | €481,571 | -€6,368 | -1.3% |
| Tax-exempt reserves | 132 | €344,289 | €0 | -€344,289 | -100.0% |
| Distributable reserves | 133 | €143,650 | €481,571 | +€337,921 | +235.2% |
| Provisions and deferred taxes | 16 | €114,763 | €0 | -€114,763 | -100.0% |
| Deferred taxes | 168 | €114,763 | €0 | -€114,763 | -100.0% |
| Amounts payable | 17/49 | €566,281 | €439,861 | -€126,420 | -22.3% |
| Amounts payable after more than one year | 17 | €311,112 | €277,778 | -€33,333 | -10.7% |
| Financial debts | 170/4 | €311,112 | €277,778 | -€33,333 | -10.7% |
| Amounts payable within one year | 42/48 | €246,426 | €146,611 | -€99,815 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €33,333 | €33,333 | = | 0.0% |
| Trade debts | 44 | €96 | €281 | +€185 | +191.8% |
| Suppliers | 440/4 | €96 | €281 | +€185 | +191.8% |
| Other amounts payable | 47/48 | €212,996 | €112,996 | -€100,000 | -46.9% |
| Accrued charges and deferred income | 492/3 | €8,743 | €15,471 | +€6,728 | +77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,140 | €10,768 | -€1,372 | -11.3% |
| Other operating charges | 640/8 | €3,808 | €3,924 | +€116 | +3.0% |
| Gross operating margin | 9900 | -€3,889 | -€3,778 | +€111 | +2.9% |
| Operating profit (loss) | 9901 | -€19,838 | -€18,470 | +€1,368 | +6.9% |
| Financial income | 75/76B | €116,605 | €20,336 | -€96,268 | -82.6% |
| Recurring financial income | 75 | €116,488 | €20,336 | -€96,152 | -82.5% |
| Non-recurring financial income | 76B | €116 | €0 | -€116 | -100.0% |
| Financial charges | 65/66B | €13,607 | €11,362 | -€2,245 | -16.5% |
| Recurring financial charges | 65 | €13,607 | €11,362 | -€2,245 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €83,160 | -€9,496 | -€92,656 | |
| Transfer from deferred taxes | 780 | - | €114,763 | +€114,763 | |
| Income taxes | 67/77 | - | €111,635 | +€111,635 | |
| Profit (loss) for the period | 9904 | €83,160 | -€6,368 | -€89,528 | |
| Transfer from tax-exempt reserves | 789 | - | €344,289 | +€344,289 | |
| Profit (loss) for the period to be appropriated | 9905 | €83,160 | €337,921 | +€254,761 | +306.4% |
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 7 October 2026 via checked.be.