SA ESPERANZA: what changed
What changed
SA ESPERANZA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€112,199
2025 · €169,758-€57,559
Equity
€539,689
2025 · €427,490+€112,199
Cash
€76,240
2025 · €65,451+€10,789
Balance sheet total
€5.4m
2025 · €4.8m+€629,411
Largest movements
Assets
- Financial fixed assets +€3.2m
up €3.2m (+43,913%), from €7,400 to €3.3m
- Receivables after one year -€2.9m
no longer reported in 2026 (was €2.9m)
- Receivables within one year +€434,675
up €434,675 (+188%), from €231,264 to €665,939
of which Other amounts receivable: +€251,735
- Tangible fixed assets -€103,890
down €103,890 (-14.9%), from €696,438 to €592,548
of which Furniture and vehicles: -€69,915
Equity and liabilities
- Trade debts +€883,683
up €883,683 (+43.9%), from €2.0m to €2.9m
- Debts after one year -€360,354
down €360,354 (-20.5%), from €1.8m to €1.4m
of which Financial debts: -€240,354
- Current portion of long-term debt -€126,197
down €126,197 (-25.4%), from €497,498 to €371,301
- Profit (loss) carried forward +€119,944
up €119,944 (+23.5%), from -€510,682 to -€390,738
- Short-term financial debts +€77,790
new in 2026: €77,790
Income statement
- Staff costs +€145,070
up €145,070 (+27.8%), from €521,357 to €666,427
- Other operating charges -€21,821
down €21,821 (-49.9%), from €43,769 to €21,949
- Depreciation -€20,550
down €20,550 (-15.6%), from €131,731 to €111,181
- Gross operating margin +€19,270
up €19,270 (+2.1%), from €929,425 to €948,695
- Taxes -€17,255
down €17,255 (-29.0%), from €59,481 to €42,226
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€169,758
Gross operating margin
+€19,270
Staff costs
-€145,070
Depreciation
+€20,550
Other operating charges
+€21,821
Financial income
+€13,033
Financial charges
-€4,418
Taxes
+€17,255
Result 2026
€112,199
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3.7m
Investment
-€3.3m
Financing
-€408,761
Cash 2025
€65,451
From operations (derived)
+€3.7m
Net result for the year
+€112,199
Depreciation
+€111,181
Receivables after one year
+€2.9m
Stocks and contracts
+€29,467
Receivables within one year
-€434,675
Smaller working-capital items
-€13,056
Trade debts
+€883,683
Tax, wage and social debts
+€48,513
Investment (derived)
-€3.3m
Investment in fixed assets (net)
-€3.3m
Financing
-€408,761
Debts after one year
-€360,354
Current portion of long-term debt
-€126,197
Short-term financial debts
+€77,790
Cash 2026
€76,240
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,810,626 | €5,440,036 | +€629,411 | +13.1% |
| Fixed assets | 21/28 | €703,837 | €3,849,318 | +€3.1m | +447% |
| Tangible fixed assets | 22/27 | €696,438 | €592,548 | -€103,890 | -14.9% |
| Land and buildings | 22 | €1,600 | €1,600 | = | 0.0% |
| Plant, machinery and equipment | 23 | €274,486 | €240,511 | -€33,975 | -12.4% |
| Furniture and vehicles | 24 | €420,352 | €350,437 | -€69,915 | -16.6% |
| Financial fixed assets | 28 | €7,400 | €3,256,770 | +€3.2m | +43,913% |
| Current assets | 29/58 | €4,106,788 | €1,590,719 | -€2.5m | -61.3% |
| Amounts receivable after more than one year | 29 | €2,938,900 | - | -€2.9m | |
| Other amounts receivable | 291 | €2,938,900 | - | -€2.9m | |
| Stocks and contracts in progress | 3 | €856,129 | €826,662 | -€29,467 | -3.4% |
| Stocks | 30/36 | €856,129 | €826,662 | -€29,467 | -3.4% |
| Amounts receivable within one year | 40/41 | €231,264 | €665,939 | +€434,675 | +188% |
| Trade receivables | 40 | €195,691 | €378,631 | +€182,939 | +93.5% |
| Other amounts receivable | 41 | €35,573 | €287,308 | +€251,735 | +708% |
| Cash at bank and in hand | 54/58 | €65,451 | €76,240 | +€10,789 | +16.5% |
| Deferred charges and accrued income | 490/1 | €15,045 | €21,878 | +€6,833 | +45.4% |
| Total equity and liabilities | 10/49 | €4,810,626 | €5,440,036 | +€629,411 | +13.1% |
| Equity | 10/15 | €427,490 | €539,689 | +€112,199 | +26.2% |
| Contributions | 10/11 | €902,479 | €902,479 | = | 0.0% |
| Capital | 10 | €902,479 | €902,479 | = | 0.0% |
| Issued capital | 100 | €902,479 | €902,479 | = | 0.0% |
| Reserves | 13 | €35,693 | €27,948 | -€7,745 | -21.7% |
| Non-distributable reserves | 130/1 | €5,086 | €5,086 | = | 0.0% |
| Legal reserve | 130 | €5,086 | €5,086 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,607 | €22,862 | -€7,745 | -25.3% |
| Profit (loss) carried forward | 14 | -€510,682 | -€390,738 | +€119,944 | +23.5% |
| Provisions and deferred taxes | 16 | €15,075 | €11,260 | -€3,815 | -25.3% |
| Deferred taxes | 168 | €15,075 | €11,260 | -€3,815 | -25.3% |
| Amounts payable | 17/49 | €4,368,061 | €4,889,087 | +€521,026 | +11.9% |
| Amounts payable after more than one year | 17 | €1,757,515 | €1,397,161 | -€360,354 | -20.5% |
| Financial debts | 170/4 | €817,515 | €577,161 | -€240,354 | -29.4% |
| Trade debts | 175 | €690,000 | €570,000 | -€120,000 | -17.4% |
| Other amounts payable | 178/9 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,610,546 | €3,491,926 | +€881,380 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €497,498 | €371,301 | -€126,197 | -25.4% |
| Financial debts | 43 | - | €77,790 | +€77,790 | |
| Credit institutions | 430/8 | - | €77,790 | +€77,790 | |
| Trade debts | 44 | €2,013,390 | €2,897,073 | +€883,683 | +43.9% |
| Suppliers | 440/4 | €2,013,390 | €2,897,073 | +€883,683 | +43.9% |
| Taxes, remuneration and social security | 45 | €91,293 | €139,806 | +€48,513 | +53.1% |
| Taxes | 450/3 | €4,412 | €21,858 | +€17,446 | +395% |
| Remuneration and social security | 454/9 | €86,881 | €117,948 | +€31,067 | +35.8% |
| Other amounts payable | 47/48 | €8,365 | €5,957 | -€2,409 | -28.8% |
| Non-recurring operating income | 76A | - | €9,492 | +€9,492 | |
| Remuneration, social security and pensions | 62 | €521,357 | €666,427 | +€145,070 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,731 | €111,181 | -€20,550 | -15.6% |
| Other operating charges | 640/8 | €43,769 | €21,949 | -€21,821 | -49.9% |
| Gross operating margin | 9900 | €929,425 | €948,695 | +€19,270 | +2.1% |
| Operating profit (loss) | 9901 | €232,567 | €149,139 | -€83,429 | -35.9% |
| Financial income | 75/76B | €51,079 | €64,111 | +€13,033 | +25.5% |
| Recurring financial income | 75 | €51,079 | €64,111 | +€13,033 | +25.5% |
| Financial charges | 65/66B | €58,222 | €62,640 | +€4,418 | +7.6% |
| Recurring financial charges | 65 | €58,222 | €62,640 | +€4,418 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €225,424 | €150,610 | -€74,814 | -33.2% |
| Transfer from deferred taxes | 780 | €3,815 | €3,815 | = | 0.0% |
| Income taxes | 67/77 | €59,481 | €42,226 | -€17,255 | -29.0% |
| Profit (loss) for the period | 9904 | €169,758 | €112,199 | -€57,559 | -33.9% |
| Transfer from tax-exempt reserves | 789 | €7,745 | €7,745 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €177,503 | €119,944 | -€57,559 | -32.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.