ESPERAL: 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.
ESPERAL
Largest movements
- Cash +€259,097
up €259,097 (+98.8%), from €262,223 to €521,320
mainly Net result for the year (+€174,648) and Provisions (+€57,742)
- Tangible fixed assets -€27,363
down €27,363 (-10.8%), from €252,946 to €225,583
of which Land and buildings: -€25,170
- Reserves +€173,226
up €173,226 (+298%), from €58,096 to €231,322
of which Tax-exempt reserves: +€173,226
- Provisions +€57,742
new in 2025: €57,742
- Gross operating margin +€239,858
up €239,858 (+485%), from €49,466 to €289,324
- Financial charges +€29,988
up €29,988 (+257,190%), from €12 to €30,000
- Depreciation -€5,557
down €5,557 (-20.3%), from €27,342 to €21,785
- Taxes -€3,002
down €3,002 (-80.3%), from €3,738 to €737
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 | €619,498 | €851,757 | +€232,259 | +37.5% |
| Fixed assets | 21/28 | €252,946 | €225,583 | -€27,363 | -10.8% |
| Tangible fixed assets | 22/27 | €252,946 | €225,583 | -€27,363 | -10.8% |
| Land and buildings | 22 | €246,728 | €221,558 | -€25,170 | -10.2% |
| Plant, machinery and equipment | 23 | €6,217 | €4,025 | -€2,193 | -35.3% |
| Current assets | 29/58 | €366,552 | €626,174 | +€259,622 | +70.8% |
| Amounts receivable within one year | 40/41 | €348 | €27 | -€321 | -92.1% |
| Other amounts receivable | 41 | €348 | €27 | -€321 | -92.1% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €262,223 | €521,320 | +€259,097 | +98.8% |
| Deferred charges and accrued income | 490/1 | €3,981 | €4,827 | +€846 | +21.2% |
| Total equity and liabilities | 10/49 | €619,498 | €851,757 | +€232,259 | +37.5% |
| Equity | 10/15 | €397,214 | €571,862 | +€174,648 | +44.0% |
| Contributions | 10/11 | €242,936 | €242,936 | = | 0.0% |
| Capital | 10 | €242,936 | €242,936 | = | 0.0% |
| Issued capital | 100 | €242,936 | €242,936 | = | 0.0% |
| Reserves | 13 | €58,096 | €231,322 | +€173,226 | +298% |
| Non-distributable reserves | 130/1 | €24,294 | €24,294 | = | 0.0% |
| Legal reserve | 130 | €24,294 | €24,294 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €173,226 | +€173,226 | |
| Distributable reserves | 133 | €33,802 | €33,802 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,183 | €97,604 | +€1,422 | +1.5% |
| Provisions and deferred taxes | 16 | - | €57,742 | +€57,742 | |
| Deferred taxes | 168 | - | €57,742 | +€57,742 | |
| Amounts payable | 17/49 | €222,284 | €222,153 | -€131 | -0.1% |
| Amounts payable within one year | 42/48 | €222,284 | €222,153 | -€131 | -0.1% |
| Trade debts | 44 | €3,065 | €4,174 | +€1,109 | +36.2% |
| Suppliers | 440/4 | €3,065 | €4,174 | +€1,109 | +36.2% |
| Taxes, remuneration and social security | 45 | €1,540 | €300 | -€1,240 | -80.5% |
| Taxes | 450/3 | €1,540 | €300 | -€1,240 | -80.5% |
| Other amounts payable | 47/48 | €217,680 | €217,680 | = | 0.0% |
| Non-recurring operating income | 76A | - | €230,968 | +€230,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,342 | €21,785 | -€5,557 | -20.3% |
| Other operating charges | 640/8 | €9,022 | €9,129 | +€107 | +1.2% |
| Gross operating margin | 9900 | €49,466 | €289,324 | +€239,858 | +485% |
| Operating profit (loss) | 9901 | €13,102 | €258,410 | +€245,308 | +1,872% |
| Financial income | 75/76B | €4,288 | €4,717 | +€429 | +10.0% |
| Recurring financial income | 75 | €4,288 | €4,717 | +€429 | +10.0% |
| Financial charges | 65/66B | €12 | €30,000 | +€29,988 | +257,190% |
| Recurring financial charges | 65 | €12 | €30,000 | +€29,988 | +257,190% |
| Profit (loss) for the period before taxes | 9903 | €17,379 | €233,127 | +€215,748 | +1,241% |
| Transfer to deferred taxes | 680 | - | €57,742 | +€57,742 | |
| Income taxes | 67/77 | €3,738 | €737 | -€3,002 | -80.3% |
| Profit (loss) for the period | 9904 | €13,640 | €174,648 | +€161,008 | +1,180% |
| Transfer to tax-exempt reserves | 689 | - | €173,226 | +€173,226 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,640 | €1,422 | -€12,219 | -89.6% |
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 29 October 2026 via checked.be.