ESVEO: 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.
ESVEO
Largest movements
- Tangible fixed assets -€50,534
down €50,534 (-7.8%), from €650,126 to €599,592
- Debts after one year -€58,222
down €58,222 (-29.0%), from €200,774 to €142,552
- Other debts -€30,340
down €30,340 (-8.9%), from €341,876 to €311,537
- Profit (loss) carried forward +€21,943
no longer reported in 2025 (was -€21,943)
- Taxes +€1,400
new in 2025: €1,400
- Gross operating margin -€940
down €940 (-1.8%), from €53,449 to €52,509
- Financial charges +€715
up €715 (+8.5%), from €8,441 to €9,157
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €654,959 | €602,637 | -€52,322 | -8.0% |
| Fixed assets | 21/28 | €650,126 | €599,592 | -€50,534 | -7.8% |
| Tangible fixed assets | 22/27 | €650,126 | €599,592 | -€50,534 | -7.8% |
| Land and buildings | 22 | €650,126 | €599,592 | -€50,534 | -7.8% |
| Current assets | 29/58 | €4,832 | €3,045 | -€1,788 | -37.0% |
| Cash at bank and in hand | 54/58 | €4,832 | €3,045 | -€1,788 | -37.0% |
| Total equity and liabilities | 10/49 | €654,959 | €602,637 | -€52,322 | -8.0% |
| Equity | 10/15 | €80,057 | €107,385 | +€27,328 | +34.1% |
| Contributions | 10/11 | €102,000 | €102,000 | = | 0.0% |
| Reserves | 13 | - | €5,385 | +€5,385 | |
| Distributable reserves | 133 | - | €5,385 | +€5,385 | |
| Profit (loss) carried forward | 14 | -€21,943 | - | +€21,943 | |
| Amounts payable | 17/49 | €574,902 | €495,252 | -€79,650 | -13.9% |
| Amounts payable after more than one year | 17 | €200,774 | €142,552 | -€58,222 | -29.0% |
| Financial debts | 170/4 | €200,774 | €142,552 | -€58,222 | -29.0% |
| Amounts payable within one year | 42/48 | €372,242 | €352,700 | -€19,542 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €28,192 | €29,480 | +€1,288 | +4.6% |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Advances received on contracts in progress | 46 | - | €4,950 | +€4,950 | |
| Taxes, remuneration and social security | 45 | €1,786 | €6,733 | +€4,947 | +276.9% |
| Taxes | 450/3 | €1,786 | €6,733 | +€4,947 | +276.9% |
| Other amounts payable | 47/48 | €341,876 | €311,537 | -€30,340 | -8.9% |
| Accrued charges and deferred income | 492/3 | €1,886 | - | -€1,886 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,267 | €25,267 | +€0 | 0.0% |
| Other operating charges | 640/8 | €6,082 | €6,515 | +€433 | +7.1% |
| Gross operating margin | 9900 | €53,449 | €52,509 | -€940 | -1.8% |
| Operating profit (loss) | 9901 | €22,100 | €20,727 | -€1,373 | -6.2% |
| Financial charges | 65/66B | €8,441 | €9,157 | +€715 | +8.5% |
| Recurring financial charges | 65 | €8,441 | €9,157 | +€715 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €13,659 | €11,570 | -€2,088 | -15.3% |
| Income taxes | 67/77 | - | €1,400 | +€1,400 | |
| Profit (loss) for the period | 9904 | €13,659 | €10,170 | -€3,488 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,659 | €10,170 | -€3,488 | -25.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.