ESRA: what changed
ESRA
Largest movements
- Tangible fixed assets -€25,822
down €25,822 (-23.1%), from €111,568 to €85,746
of which Leasing and similar rights: -€15,673
- Receivables within one year +€3,413
up €3,413 (+10.3%), from €33,097 to €36,510
of which Other amounts receivable: +€1,863
- Debts after one year -€13,277
down €13,277 (-24.8%), from €53,633 to €40,356
- Trade debts +€6,338
up €6,338 (+15.7%), from €40,492 to €46,830
- Other debts -€5,861
no longer reported in 2025 (was €5,861)
- Tax, wage and social debts -€5,428
down €5,428 (-33.4%), from €16,273 to €10,845
of which Taxes: -€11,162
- Profit (loss) carried forward -€5,244
down €5,244 (-52.3%), from €10,035 to €4,791
- Staff costs +€30,809
up €30,809 (+1,631%), from €1,889 to €32,698
- Gross operating margin +€27,820
up €27,820 (+65.3%), from €42,629 to €70,449
- Depreciation +€14,120
up €14,120 (+121%), from €11,702 to €25,822
- Financial charges +€7,705
up €7,705 (+105%), from €7,319 to €15,024
- Taxes -€6,343
down €6,343 (-83.2%), from €7,621 to €1,278
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,979 | €147,646 | -€22,333 | -13.1% |
| Fixed assets | 21/28 | €111,568 | €85,746 | -€25,822 | -23.1% |
| Tangible fixed assets | 22/27 | €111,568 | €85,746 | -€25,822 | -23.1% |
| Plant, machinery and equipment | 23 | €5,054 | €3,189 | -€1,865 | -36.9% |
| Furniture and vehicles | 24 | €755 | €304 | -€451 | -59.7% |
| Leasing and similar rights | 25 | €72,497 | €56,824 | -€15,673 | -21.6% |
| Other tangible fixed assets | 26 | €33,262 | €25,429 | -€7,833 | -23.5% |
| Current assets | 29/58 | €58,411 | €61,900 | +€3,489 | +6.0% |
| Stocks and contracts in progress | 3 | €6,478 | €7,426 | +€948 | +14.6% |
| Stocks | 30/36 | €6,478 | €7,426 | +€948 | +14.6% |
| Amounts receivable within one year | 40/41 | €33,097 | €36,510 | +€3,413 | +10.3% |
| Trade receivables | 40 | €31,958 | €33,508 | +€1,550 | +4.9% |
| Other amounts receivable | 41 | €1,139 | €3,002 | +€1,863 | +164% |
| Cash at bank and in hand | 54/58 | €14,833 | €14,006 | -€827 | -5.6% |
| Deferred charges and accrued income | 490/1 | €4,002 | €3,958 | -€44 | -1.1% |
| Total equity and liabilities | 10/49 | €169,979 | €147,646 | -€22,333 | -13.1% |
| Equity | 10/15 | €41,582 | €36,338 | -€5,244 | -12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €25,347 | €25,347 | = | 0.0% |
| Distributable reserves | 133 | €25,347 | €25,347 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,035 | €4,791 | -€5,244 | -52.3% |
| Amounts payable | 17/49 | €128,397 | €111,308 | -€17,089 | -13.3% |
| Amounts payable after more than one year | 17 | €53,633 | €40,356 | -€13,277 | -24.8% |
| Financial debts | 170/4 | €53,633 | €40,356 | -€13,277 | -24.8% |
| Amounts payable within one year | 42/48 | €74,763 | €70,952 | -€3,811 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €12,138 | €13,277 | +€1,139 | +9.4% |
| Trade debts | 44 | €40,492 | €46,830 | +€6,338 | +15.7% |
| Suppliers | 440/4 | €40,492 | €46,830 | +€6,338 | +15.7% |
| Taxes, remuneration and social security | 45 | €16,273 | €10,845 | -€5,428 | -33.4% |
| Taxes | 450/3 | €16,073 | €4,911 | -€11,162 | -69.4% |
| Remuneration and social security | 454/9 | €200 | €5,934 | +€5,734 | +2,866% |
| Other amounts payable | 47/48 | €5,861 | - | -€5,861 | |
| Remuneration, social security and pensions | 62 | €1,889 | €32,698 | +€30,809 | +1,631% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,702 | €25,822 | +€14,120 | +121% |
| Other operating charges | 640/8 | €4,693 | €922 | -€3,771 | -80.4% |
| Gross operating margin | 9900 | €42,629 | €70,449 | +€27,820 | +65.3% |
| Operating profit (loss) | 9901 | €24,345 | €11,007 | -€13,338 | -54.8% |
| Financial income | 75/76B | €35 | €51 | +€16 | +44.9% |
| Recurring financial income | 75 | €35 | €51 | +€16 | +44.9% |
| Financial charges | 65/66B | €7,319 | €15,024 | +€7,705 | +105% |
| Recurring financial charges | 65 | €7,319 | €15,024 | +€7,705 | +105% |
| Profit (loss) for the period before taxes | 9903 | €17,061 | -€3,966 | -€21,028 | |
| Income taxes | 67/77 | €7,621 | €1,278 | -€6,343 | -83.2% |
| Profit (loss) for the period | 9904 | €9,440 | -€5,244 | -€14,684 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,440 | -€5,244 | -€14,684 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.