New Epsom Two: 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.
New Epsom Two
Largest movements
- Tangible fixed assets -€27,874
down €27,874 (-23.2%), from €120,028 to €92,154
of which Furniture and vehicles: -€27,713
- Receivables within one year +€7,122
up €7,122 (+99.3%), from €7,171 to €14,293
of which Other amounts receivable: +€5,369
- Deferred charges and accrued income -€3,074
down €3,074 (-43.2%), from €7,118 to €4,044
- Cash -€1,559
down €1,559 (-10.5%), from €14,859 to €13,301
mainly Debts after one year (-€12,538) and Trade debts (-€12,313)
- Debts after one year -€12,538
down €12,538 (-92.2%), from €13,596 to €1,058
- Trade debts -€12,313
down €12,313 (-30.9%), from €39,803 to €27,489
- Tax, wage and social debts +€6,375
up €6,375 (+62.3%), from €10,228 to €16,603
of which Taxes: +€3,274
- Current portion of long-term debt -€5,161
down €5,161 (-29.2%), from €17,699 to €12,538
- Advances received -€4,000
no longer reported in 2025 (was €4,000)
- Gross operating margin -€31,200
down €31,200 (-25.8%), from €121,084 to €89,884
- Taxes -€10,394
down €10,394 (-90.3%), from €11,510 to €1,116
- Staff costs +€5,091
up €5,091 (+9.3%), from €54,706 to €59,797
- Depreciation -€1,667
down €1,667 (-6.7%), from €24,879 to €23,212
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.
Derived cash bridge
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 | €153,779 | €127,634 | -€26,146 | -17.0% |
| Fixed assets | 21/28 | €120,028 | €92,154 | -€27,874 | -23.2% |
| Tangible fixed assets | 22/27 | €120,028 | €92,154 | -€27,874 | -23.2% |
| Plant, machinery and equipment | 23 | €6,346 | €6,184 | -€161 | -2.5% |
| Furniture and vehicles | 24 | €113,683 | €85,970 | -€27,713 | -24.4% |
| Current assets | 29/58 | €33,751 | €35,480 | +€1,729 | +5.1% |
| Stocks and contracts in progress | 3 | €4,602 | €3,842 | -€760 | -16.5% |
| Stocks | 30/36 | €4,602 | €3,842 | -€760 | -16.5% |
| Amounts receivable within one year | 40/41 | €7,171 | €14,293 | +€7,122 | +99.3% |
| Trade receivables | 40 | €4,770 | €6,523 | +€1,753 | +36.8% |
| Other amounts receivable | 41 | €2,401 | €7,770 | +€5,369 | +224% |
| Cash at bank and in hand | 54/58 | €14,859 | €13,301 | -€1,559 | -10.5% |
| Deferred charges and accrued income | 490/1 | €7,118 | €4,044 | -€3,074 | -43.2% |
| Total equity and liabilities | 10/49 | €153,779 | €127,634 | -€26,146 | -17.0% |
| Equity | 10/15 | €56,898 | €57,068 | +€170 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,091 | €34,091 | = | 0.0% |
| Non-distributable reserves | 130/1 | €591 | €591 | = | 0.0% |
| Reserves not available under the articles | 1311 | €591 | €591 | = | 0.0% |
| Distributable reserves | 133 | €33,500 | €33,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,207 | €4,376 | +€170 | +4.0% |
| Amounts payable | 17/49 | €96,881 | €70,566 | -€26,315 | -27.2% |
| Amounts payable after more than one year | 17 | €13,596 | €1,058 | -€12,538 | -92.2% |
| Financial debts | 170/4 | €13,596 | €1,058 | -€12,538 | -92.2% |
| Amounts payable within one year | 42/48 | €83,285 | €69,508 | -€13,777 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €17,699 | €12,538 | -€5,161 | -29.2% |
| Trade debts | 44 | €39,803 | €27,489 | -€12,313 | -30.9% |
| Suppliers | 440/4 | €39,803 | €27,489 | -€12,313 | -30.9% |
| Advances received on contracts in progress | 46 | €4,000 | - | -€4,000 | |
| Taxes, remuneration and social security | 45 | €10,228 | €16,603 | +€6,375 | +62.3% |
| Taxes | 450/3 | €4,373 | €7,647 | +€3,274 | +74.9% |
| Remuneration and social security | 454/9 | €5,855 | €8,956 | +€3,101 | +53.0% |
| Other amounts payable | 47/48 | €11,555 | €12,877 | +€1,322 | +11.4% |
| Remuneration, social security and pensions | 62 | €54,706 | €59,797 | +€5,091 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,879 | €23,212 | -€1,667 | -6.7% |
| Other operating charges | 640/8 | €57 | €350 | +€293 | +518% |
| Gross operating margin | 9900 | €121,084 | €89,884 | -€31,200 | -25.8% |
| Operating profit (loss) | 9901 | €41,443 | €6,525 | -€34,918 | -84.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,905 | €4,539 | -€365 | -7.4% |
| Recurring financial charges | 65 | €4,905 | €4,539 | -€365 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €36,538 | €1,986 | -€34,552 | -94.6% |
| Income taxes | 67/77 | €11,510 | €1,116 | -€10,394 | -90.3% |
| Profit (loss) for the period | 9904 | €25,028 | €870 | -€24,158 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,028 | €870 | -€24,158 | -96.5% |
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 17 October 2026 via checked.be.