ESVECO: 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.
ESVECO
Largest movements
- Cash -€38,398
down €38,398 (-20.8%), from €184,906 to €146,507
mainly Contributions, distributions and other (-€132,000) and Other debts (-€48,921)
- Tangible fixed assets -€12,167
down €12,167 (-24.4%), from €49,903 to €37,737
- Receivables within one year -€11,719
down €11,719 (-32.1%), from €36,510 to €24,791
of which Trade receivables: -€15,587
- Other debts -€48,921
down €48,921 (-27.3%), from €179,303 to €130,382
- Debts after one year -€10,000
down €10,000 (-25.0%), from €40,000 to €30,000
- Tax, wage and social debts -€3,208
down €3,208 (-17.5%), from €18,318 to €15,110
of which Taxes: -€3,197
- Gross operating margin -€34,982
down €34,982 (-15.4%), from €227,097 to €192,115
- Depreciation -€2,279
down €2,279 (-15.5%), from €14,674 to €12,395
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 | €274,632 | €212,218 | -€62,414 | -22.7% |
| Fixed assets | 21/28 | €49,903 | €37,737 | -€12,167 | -24.4% |
| Tangible fixed assets | 22/27 | €49,903 | €37,737 | -€12,167 | -24.4% |
| Furniture and vehicles | 24 | €49,903 | €37,737 | -€12,167 | -24.4% |
| Current assets | 29/58 | €224,728 | €174,481 | -€50,247 | -22.4% |
| Amounts receivable within one year | 40/41 | €36,510 | €24,791 | -€11,719 | -32.1% |
| Trade receivables | 40 | €35,378 | €19,791 | -€15,587 | -44.1% |
| Other amounts receivable | 41 | €1,132 | €5,000 | +€3,868 | +341.6% |
| Cash at bank and in hand | 54/58 | €184,906 | €146,507 | -€38,398 | -20.8% |
| Deferred charges and accrued income | 490/1 | €3,313 | €3,183 | -€129 | -3.9% |
| Total equity and liabilities | 10/49 | €274,632 | €212,218 | -€62,414 | -22.7% |
| Equity | 10/15 | €20,979 | €20,966 | -€13 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €519 | €506 | -€13 | -2.5% |
| Amounts payable | 17/49 | €253,653 | €191,252 | -€62,401 | -24.6% |
| Amounts payable after more than one year | 17 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Financial debts | 170/4 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Amounts payable within one year | 42/48 | €208,458 | €155,536 | -€52,922 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €837 | €44 | -€793 | -94.8% |
| Suppliers | 440/4 | €837 | €44 | -€793 | -94.8% |
| Taxes, remuneration and social security | 45 | €18,318 | €15,110 | -€3,208 | -17.5% |
| Taxes | 450/3 | €15,214 | €12,017 | -€3,197 | -21.0% |
| Remuneration and social security | 454/9 | €3,104 | €3,093 | -€11 | -0.4% |
| Other amounts payable | 47/48 | €179,303 | €130,382 | -€48,921 | -27.3% |
| Accrued charges and deferred income | 492/3 | €5,195 | €5,716 | +€521 | +10.0% |
| Non-recurring operating income | 76A | - | €5,391 | +€5,391 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,674 | €12,395 | -€2,279 | -15.5% |
| Other operating charges | 640/8 | €1,666 | €1,364 | -€302 | -18.1% |
| Gross operating margin | 9900 | €227,097 | €192,115 | -€34,982 | -15.4% |
| Operating profit (loss) | 9901 | €210,756 | €178,355 | -€32,401 | -15.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -25.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -25.0% |
| Financial charges | 65/66B | €2,405 | €2,690 | +€285 | +11.9% |
| Recurring financial charges | 65 | €2,405 | €2,690 | +€285 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €208,351 | €175,665 | -€32,686 | -15.7% |
| Income taxes | 67/77 | €45,278 | €43,678 | -€1,600 | -3.5% |
| Profit (loss) for the period | 9904 | €163,074 | €131,987 | -€31,087 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €163,074 | €131,987 | -€31,087 | -19.1% |
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 11 October 2026 via checked.be.