L'ESPADON: 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.
L'ESPADON
Largest movements
- Cash +€9,859
up €9,859 (+170.2%), from €5,792 to €15,651
mainly Depreciation (+€10,063) and Net result for the year (+€9,306)
- Tangible fixed assets -€3,874
down €3,874 (-1.5%), from €256,497 to €252,623
of which Land and buildings: -€6,504
- Receivables within one year +€3,314
up €3,314 (+13.4%), from €24,783 to €28,096
of which Other amounts receivable: +€3,314
- Reserves +€10,098
up €10,098 (+17.9%), from €56,525 to €66,623
of which Distributable reserves: +€10,098
- Tax, wage and social debts +€4,657
up €4,657 (+1570.2%), from €297 to €4,954
- Trade debts -€4,653
down €4,653 (-91.5%), from €5,082 to €430
- Gross operating margin +€8,144
up €8,144 (+41.2%), from €19,758 to €27,902
- Other operating charges -€7,053
down €7,053 (-64.5%), from €10,935 to €3,882
- Taxes +€4,361
up €4,361 (+1470.2%), from €297 to €4,657
- Depreciation +€2,389
up €2,389 (+31.1%), from €7,674 to €10,063
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 | €287,496 | €296,806 | +€9,311 | +3.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €256,497 | €252,623 | -€3,874 | -1.5% |
| Tangible fixed assets | 22/27 | €256,497 | €252,623 | -€3,874 | -1.5% |
| Land and buildings | 22 | €251,035 | €244,531 | -€6,504 | -2.6% |
| Plant, machinery and equipment | 23 | €1,597 | €1,845 | +€248 | +15.5% |
| Furniture and vehicles | 24 | €3,865 | €6,247 | +€2,382 | +61.6% |
| Current assets | 29/58 | €30,999 | €44,183 | +€13,184 | +42.5% |
| Amounts receivable within one year | 40/41 | €24,783 | €28,096 | +€3,314 | +13.4% |
| Trade receivables | 40 | €1,450 | €1,450 | = | 0.0% |
| Other amounts receivable | 41 | €23,333 | €26,646 | +€3,314 | +14.2% |
| Cash at bank and in hand | 54/58 | €5,792 | €15,651 | +€9,859 | +170.2% |
| Deferred charges and accrued income | 490/1 | €425 | €436 | +€12 | +2.7% |
| Total equity and liabilities | 10/49 | €287,496 | €296,806 | +€9,311 | +3.2% |
| Equity | 10/15 | €198,617 | €207,923 | +€9,306 | +4.7% |
| Contributions | 10/11 | €141,300 | €141,300 | = | 0.0% |
| Capital | 10 | €141,300 | €141,300 | = | 0.0% |
| Issued capital | 100 | €141,300 | €141,300 | = | 0.0% |
| Reserves | 13 | €56,525 | €66,623 | +€10,098 | +17.9% |
| Non-distributable reserves | 130/1 | €14,130 | €14,130 | = | 0.0% |
| Legal reserve | 130 | €14,130 | €14,130 | = | 0.0% |
| Distributable reserves | 133 | €42,395 | €52,493 | +€10,098 | +23.8% |
| Profit (loss) carried forward | 14 | €792 | - | -€792 | |
| Amounts payable | 17/49 | €88,879 | €88,883 | +€4 | 0.0% |
| Amounts payable after more than one year | 17 | €28,500 | €28,500 | = | 0.0% |
| Financial debts | 170/4 | €28,500 | €28,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €60,379 | €60,383 | +€4 | 0.0% |
| Trade debts | 44 | €5,082 | €430 | -€4,653 | -91.5% |
| Suppliers | 440/4 | €5,082 | €430 | -€4,653 | -91.5% |
| Taxes, remuneration and social security | 45 | €297 | €4,954 | +€4,657 | +1570.2% |
| Taxes | 450/3 | €297 | €4,954 | +€4,657 | +1570.2% |
| Other amounts payable | 47/48 | €55,000 | €55,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,674 | €10,063 | +€2,389 | +31.1% |
| Other operating charges | 640/8 | €10,935 | €3,882 | -€7,053 | -64.5% |
| Gross operating margin | 9900 | €19,758 | €27,902 | +€8,144 | +41.2% |
| Operating profit (loss) | 9901 | €1,149 | €13,957 | +€12,808 | +1115.0% |
| Financial income | 75/76B | €1 | €66 | +€65 | +6488.0% |
| Recurring financial income | 75 | €1 | €66 | +€65 | +6488.0% |
| Financial charges | 65/66B | €61 | €60 | -€2 | -2.9% |
| Recurring financial charges | 65 | €61 | €60 | -€2 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €1,088 | €13,963 | +€12,875 | +1182.9% |
| Income taxes | 67/77 | €297 | €4,657 | +€4,361 | +1470.2% |
| Profit (loss) for the period | 9904 | €792 | €9,306 | +€8,514 | +1075.3% |
| Profit (loss) for the period to be appropriated | 9905 | €792 | €9,306 | +€8,514 | +1075.3% |
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 9 October 2026 via checked.be.