EVSA: 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.
EVSA
Largest movements
- Cash +€406,073
up €406,073 (+40607.3%), from €1,000 to €407,073
mainly Investment in fixed assets (net) (+€213,286) and Net result for the year (+€151,428)
- Tangible fixed assets -€257,038
down €257,038 (-27.0%), from €953,714 to €696,676
of which Land and buildings: -€253,716
- Receivables within one year +€57,732
up €57,732 (+79.8%), from €72,317 to €130,049
of which Other amounts receivable: +€55,712
- Receivables after one year +€15,050
up €15,050 (+26.4%), from €57,000 to €72,050
- Reserves +€126,447
up €126,447 (+51.5%), from €245,363 to €371,810
of which Distributable reserves: +€102,484
- Tax, wage and social debts +€102,235
up €102,235 (+810.4%), from €12,616 to €114,851
- Other debts +€63,031
up €63,031 (+181.6%), from €34,715 to €97,746
- Debts after one year -€43,624
down €43,624 (-6.7%), from €648,361 to €604,737
- Short-term financial debts -€41,125
down €41,125 (-100.0%), from €41,125 to €0
- Taxes +€49,770
up €49,770 (+367.8%), from €13,532 to €63,302
- Gross operating margin +€41,187
up €41,187 (+15.1%), from €271,981 to €313,168
- Depreciation -€22,082
down €22,082 (-33.5%), from €65,834 to €43,752
- Financial charges +€15,648
up €15,648 (+58.2%), from €26,866 to €42,514
- Financial income -€12,659
down €12,659 (-85.0%), from €14,893 to €2,234
of which Non-recurring financial income: -€8,881
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 | €1,089,500 | €1,324,315 | +€234,815 | +21.6% |
| Fixed assets | 21/28 | €953,714 | €696,676 | -€257,038 | -27.0% |
| Tangible fixed assets | 22/27 | €953,714 | €696,676 | -€257,038 | -27.0% |
| Land and buildings | 22 | €934,257 | €680,541 | -€253,716 | -27.2% |
| Plant, machinery and equipment | 23 | €3,675 | €3,430 | -€245 | -6.7% |
| Furniture and vehicles | 24 | €15,782 | €12,705 | -€3,077 | -19.5% |
| Current assets | 29/58 | €135,786 | €627,639 | +€491,853 | +362.2% |
| Amounts receivable after more than one year | 29 | €57,000 | €72,050 | +€15,050 | +26.4% |
| Other amounts receivable | 291 | €57,000 | €72,050 | +€15,050 | +26.4% |
| Amounts receivable within one year | 40/41 | €72,317 | €130,049 | +€57,732 | +79.8% |
| Trade receivables | 40 | €56,360 | €58,380 | +€2,020 | +3.6% |
| Other amounts receivable | 41 | €15,957 | €71,669 | +€55,712 | +349.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,000 | €407,073 | +€406,073 | +40607.3% |
| Deferred charges and accrued income | 490/1 | €5,469 | €18,468 | +€12,998 | +237.7% |
| Total equity and liabilities | 10/49 | €1,089,500 | €1,324,315 | +€234,815 | +21.6% |
| Equity | 10/15 | €266,418 | €392,865 | +€126,447 | +47.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €245,363 | €371,810 | +€126,447 | +51.5% |
| Tax-exempt reserves | 132 | €40,631 | €64,594 | +€23,963 | +59.0% |
| Distributable reserves | 133 | €204,732 | €307,216 | +€102,484 | +50.1% |
| Profit (loss) carried forward | 14 | €2,455 | €2,455 | = | 0.0% |
| Provisions and deferred taxes | 16 | €17,397 | €21,937 | +€4,541 | +26.1% |
| Deferred taxes | 168 | €17,397 | €21,937 | +€4,541 | +26.1% |
| Amounts payable | 17/49 | €805,686 | €909,513 | +€103,827 | +12.9% |
| Amounts payable after more than one year | 17 | €648,361 | €604,737 | -€43,624 | -6.7% |
| Financial debts | 170/4 | €648,361 | €604,737 | -€43,624 | -6.7% |
| Amounts payable within one year | 42/48 | €157,325 | €304,776 | +€147,451 | +93.7% |
| Current portion of amounts payable after more than one year | 42 | €52,078 | €73,141 | +€21,064 | +40.4% |
| Financial debts | 43 | €41,125 | €0 | -€41,125 | -100.0% |
| Credit institutions | 430/8 | €41,125 | €0 | -€41,125 | -100.0% |
| Trade debts | 44 | €16,791 | €4,739 | -€12,052 | -71.8% |
| Suppliers | 440/4 | €16,791 | €4,739 | -€12,052 | -71.8% |
| Advances received on contracts in progress | 46 | - | €14,299 | +€14,299 | |
| Taxes, remuneration and social security | 45 | €12,616 | €114,851 | +€102,235 | +810.4% |
| Taxes | 450/3 | €12,616 | €114,851 | +€102,235 | +810.4% |
| Other amounts payable | 47/48 | €34,715 | €97,746 | +€63,031 | +181.6% |
| Non-recurring operating income | 76A | - | €143,064 | +€143,064 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,834 | €43,752 | -€22,082 | -33.5% |
| Other operating charges | 640/8 | €6,108 | €9,492 | +€3,384 | +55.4% |
| Non-recurring operating charges | 66A | €171,817 | €373 | -€171,444 | -99.8% |
| Gross operating margin | 9900 | €271,981 | €313,168 | +€41,187 | +15.1% |
| Operating profit (loss) | 9901 | €28,222 | €259,552 | +€231,330 | +819.7% |
| Financial income | 75/76B | €14,893 | €2,234 | -€12,659 | -85.0% |
| Recurring financial income | 75 | €6,012 | €2,234 | -€3,778 | -62.8% |
| Non-recurring financial income | 76B | €8,881 | €0 | -€8,881 | -100.0% |
| Financial charges | 65/66B | €26,866 | €42,514 | +€15,648 | +58.2% |
| Recurring financial charges | 65 | €26,866 | €42,514 | +€15,648 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €16,249 | €219,271 | +€203,023 | +1249.5% |
| Transfer from deferred taxes | 780 | €1,629 | €17,541 | +€15,912 | +976.9% |
| Transfer to deferred taxes | 680 | - | €22,082 | +€22,082 | |
| Income taxes | 67/77 | €13,532 | €63,302 | +€49,770 | +367.8% |
| Profit (loss) for the period | 9904 | €4,345 | €151,428 | +€147,083 | +3384.9% |
| Transfer from tax-exempt reserves | 789 | €3,878 | €42,282 | +€38,405 | +990.4% |
| Transfer to tax-exempt reserves | 689 | - | €66,245 | +€66,245 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,223 | €127,466 | +€119,243 | +1450.1% |
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 9 October 2026 via checked.be.