ESV Ventures: 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 Ventures
Largest movements
- Receivables within one year +€78,505
up €78,505 (+15.7%), from €500,155 to €578,660
of which Trade receivables: +€78,373
- Financial fixed assets +€62,714
up €62,714 (+2.5%), from €2.6m to €2.6m
- Cash -€39,254
down €39,254 (-79.4%), from €49,455 to €10,200
mainly Receivables within one year (-€78,505) and Investment in fixed assets (net) (-€63,552)
- Reserves +€71,206
up €71,206 (+9.0%), from €793,742 to €864,948
of which Distributable reserves: +€71,206
- Gross operating margin +€6,939
up €6,939 (+6.4%), from €108,743 to €115,682
- Financial income +€5,207
up €5,207 (+7.2%), from €72,176 to €77,382
- Financial charges -€2,108
down €2,108 (-3.4%), from €62,163 to €60,055
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 | €3,651,685 | €3,744,035 | +€92,350 | +2.5% |
| Fixed assets | 21/28 | €3,024,558 | €3,064,014 | +€39,456 | +1.3% |
| Tangible fixed assets | 22/27 | €472,508 | €449,251 | -€23,257 | -4.9% |
| Land and buildings | 22 | €451,748 | €432,627 | -€19,122 | -4.2% |
| Furniture and vehicles | 24 | €10,760 | €6,624 | -€4,136 | -38.4% |
| Other tangible fixed assets | 26 | €10,000 | €10,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,552,049 | €2,614,763 | +€62,714 | +2.5% |
| Current assets | 29/58 | €627,127 | €680,021 | +€52,894 | +8.4% |
| Amounts receivable after more than one year | 29 | €69,963 | €72,762 | +€2,799 | +4.0% |
| Other amounts receivable | 291 | €69,963 | €72,762 | +€2,799 | +4.0% |
| Stocks and contracts in progress | 3 | €4,637 | €8,135 | +€3,498 | +75.4% |
| Stocks | 30/36 | €4,637 | €8,135 | +€3,498 | +75.4% |
| Amounts receivable within one year | 40/41 | €500,155 | €578,660 | +€78,505 | +15.7% |
| Trade receivables | 40 | €497,497 | €575,870 | +€78,373 | +15.8% |
| Other amounts receivable | 41 | €2,658 | €2,790 | +€131 | +4.9% |
| Cash at bank and in hand | 54/58 | €49,455 | €10,200 | -€39,254 | -79.4% |
| Deferred charges and accrued income | 490/1 | €2,917 | €10,264 | +€7,347 | +251.8% |
| Total equity and liabilities | 10/49 | €3,651,685 | €3,744,035 | +€92,350 | +2.5% |
| Equity | 10/15 | €799,942 | €871,148 | +€71,206 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €793,742 | €864,948 | +€71,206 | +9.0% |
| Tax-exempt reserves | 132 | €26,786 | €26,786 | = | 0.0% |
| Distributable reserves | 133 | €766,956 | €838,162 | +€71,206 | +9.3% |
| Amounts payable | 17/49 | €2,851,743 | €2,872,887 | +€21,144 | +0.7% |
| Amounts payable after more than one year | 17 | €2,350 | €0 | -€2,350 | -100.0% |
| Financial debts | 170/4 | €2,350 | €0 | -€2,350 | -100.0% |
| Amounts payable within one year | 42/48 | €2,826,809 | €2,827,362 | +€554 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €28,392 | €2,350 | -€26,042 | -91.7% |
| Trade debts | 44 | €16,075 | €28,900 | +€12,825 | +79.8% |
| Suppliers | 440/4 | €16,075 | €28,900 | +€12,825 | +79.8% |
| Taxes, remuneration and social security | 45 | €26,224 | €20,447 | -€5,778 | -22.0% |
| Taxes | 450/3 | €26,224 | €20,447 | -€5,778 | -22.0% |
| Other amounts payable | 47/48 | €2,756,117 | €2,775,665 | +€19,548 | +0.7% |
| Accrued charges and deferred income | 492/3 | €22,584 | €45,525 | +€22,941 | +101.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,807 | €24,096 | +€289 | +1.2% |
| Other operating charges | 640/8 | €4,596 | €4,182 | -€414 | -9.0% |
| Gross operating margin | 9900 | €108,743 | €115,682 | +€6,939 | +6.4% |
| Operating profit (loss) | 9901 | €80,340 | €87,405 | +€7,064 | +8.8% |
| Financial income | 75/76B | €72,176 | €77,382 | +€5,207 | +7.2% |
| Recurring financial income | 75 | €72,176 | €77,382 | +€5,207 | +7.2% |
| Financial charges | 65/66B | €62,163 | €60,055 | -€2,108 | -3.4% |
| Recurring financial charges | 65 | €62,163 | €60,055 | -€2,108 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €90,353 | €104,732 | +€14,379 | +15.9% |
| Income taxes | 67/77 | €32,457 | €33,526 | +€1,069 | +3.3% |
| Profit (loss) for the period | 9904 | €57,896 | €71,206 | +€13,310 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,896 | €71,206 | +€13,310 | +23.0% |
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 6 October 2026 via checked.be.