EST: 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.
EST
Largest movements
- Receivables within one year +€6,812
up €6,812 (+15.3%), from €44,458 to €51,270
of which Other amounts receivable: +€7,102
- Tangible fixed assets -€4,702
down €4,702 (-4.5%), from €104,469 to €99,767
- Cash +€2,442
up €2,442 (+86.8%), from €2,812 to €5,254
mainly Net result for the year (+€5,178) and Depreciation (+€4,702)
- Profit (loss) carried forward +€5,178
up €5,178 (+8.6%), from €60,352 to €65,530
- Gross operating margin -€4,624
down €4,624 (-25.2%), from €18,332 to €13,707
- Taxes -€1,157
down €1,157 (-40.1%), from €2,883 to €1,726
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 | €153,058 | €157,609 | +€4,552 | +3.0% |
| Fixed assets | 21/28 | €105,788 | €101,085 | -€4,702 | -4.4% |
| Tangible fixed assets | 22/27 | €104,469 | €99,767 | -€4,702 | -4.5% |
| Land and buildings | 22 | €104,469 | €99,767 | -€4,702 | -4.5% |
| Financial fixed assets | 28 | €1,319 | €1,319 | = | 0.0% |
| Current assets | 29/58 | €47,270 | €56,524 | +€9,254 | +19.6% |
| Amounts receivable within one year | 40/41 | €44,458 | €51,270 | +€6,812 | +15.3% |
| Trade receivables | 40 | €1,855 | €1,565 | -€290 | -15.6% |
| Other amounts receivable | 41 | €42,603 | €49,705 | +€7,102 | +16.7% |
| Cash at bank and in hand | 54/58 | €2,812 | €5,254 | +€2,442 | +86.8% |
| Total equity and liabilities | 10/49 | €153,058 | €157,609 | +€4,552 | +3.0% |
| Equity | 10/15 | €149,437 | €154,615 | +€5,178 | +3.5% |
| Contributions | 10/11 | €80,987 | €80,987 | = | 0.0% |
| Capital | 10 | €80,987 | €80,987 | = | 0.0% |
| Issued capital | 100 | €80,987 | €80,987 | = | 0.0% |
| Reserves | 13 | €8,099 | €8,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,099 | €8,099 | = | 0.0% |
| Legal reserve | 130 | €8,099 | €8,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,352 | €65,530 | +€5,178 | +8.6% |
| Amounts payable | 17/49 | €3,621 | €2,994 | -€627 | -17.3% |
| Amounts payable within one year | 42/48 | €3,621 | €2,994 | -€627 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €784 | €762 | -€21 | -2.7% |
| Credit institutions | 430/8 | €784 | €762 | -€21 | -2.7% |
| Trade debts | 44 | €1,651 | €1,160 | -€491 | -29.7% |
| Suppliers | 440/4 | €1,651 | €1,160 | -€491 | -29.7% |
| Taxes, remuneration and social security | 45 | €388 | €274 | -€114 | -29.5% |
| Taxes | 450/3 | €388 | €274 | -€114 | -29.5% |
| Other amounts payable | 47/48 | €798 | €798 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,702 | €4,702 | = | 0.0% |
| Other operating charges | 640/8 | €1,857 | €2,034 | +€178 | +9.6% |
| Gross operating margin | 9900 | €18,332 | €13,707 | -€4,624 | -25.2% |
| Operating profit (loss) | 9901 | €11,773 | €6,971 | -€4,802 | -40.8% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €243 | €66 | -€176 | -72.6% |
| Recurring financial charges | 65 | €243 | €66 | -€176 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | €11,531 | €6,904 | -€4,627 | -40.1% |
| Income taxes | 67/77 | €2,883 | €1,726 | -€1,157 | -40.1% |
| Profit (loss) for the period | 9904 | €8,648 | €5,178 | -€3,470 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,648 | €5,178 | -€3,470 | -40.1% |
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 5 October 2026 via checked.be.