EST8: 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.
EST8
Largest movements
- Cash +€146,622
up €146,622 (+534%), from €27,467 to €174,089
mainly Advances received (+€120,249) and Receivables within one year (+€55,357)
- Receivables within one year -€55,357
down €55,357 (-37.1%), from €149,115 to €93,758
of which Trade receivables: -€59,286
- Tangible fixed assets -€38,717
down €38,717 (-4.2%), from €913,443 to €874,726
of which Land and buildings: -€42,210
- Advances received +€120,249
new in 2024: €120,249
- Debts after one year -€51,203
down €51,203 (-7.2%), from €715,625 to €664,422
- Reserves +€21,815
up €21,815 (+16.1%), from €135,091 to €156,905
of which Distributable reserves: +€21,815
- Current portion of long-term debt -€19,545
down €19,545 (-26.4%), from €74,058 to €54,513
- Other debts -€18,433
down €18,433 (-18.8%), from €97,995 to €79,562
- Financial charges +€21,266
up €21,266 (+1,658%), from €1,283 to €22,549
- Depreciation +€11,699
up €11,699 (+35.1%), from €33,371 to €45,070
- Taxes -€4,768
down €4,768 (-31.2%), from €15,264 to €10,496
- Gross operating margin +€2,475
up €2,475 (+2.4%), from €103,244 to €105,719
- Other operating charges -€2,241
down €2,241 (-27.7%), from €8,078 to €5,837
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,090,525 | €1,146,370 | +€55,845 | +5.1% |
| Fixed assets | 21/28 | €913,443 | €874,726 | -€38,717 | -4.2% |
| Tangible fixed assets | 22/27 | €913,443 | €874,726 | -€38,717 | -4.2% |
| Land and buildings | 22 | €901,113 | €858,903 | -€42,210 | -4.7% |
| Plant, machinery and equipment | 23 | €3,703 | €8,495 | +€4,792 | +129% |
| Furniture and vehicles | 24 | €8,627 | €7,328 | -€1,299 | -15.1% |
| Current assets | 29/58 | €177,083 | €271,644 | +€94,562 | +53.4% |
| Amounts receivable within one year | 40/41 | €149,115 | €93,758 | -€55,357 | -37.1% |
| Trade receivables | 40 | €146,359 | €87,072 | -€59,286 | -40.5% |
| Other amounts receivable | 41 | €2,756 | €6,686 | +€3,929 | +143% |
| Cash at bank and in hand | 54/58 | €27,467 | €174,089 | +€146,622 | +534% |
| Deferred charges and accrued income | 490/1 | €501 | €3,798 | +€3,297 | +659% |
| Total equity and liabilities | 10/49 | €1,090,525 | €1,146,370 | +€55,845 | +5.1% |
| Equity | 10/15 | €153,691 | €175,505 | +€21,815 | +14.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,091 | €156,905 | +€21,815 | +16.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €133,231 | €155,045 | +€21,815 | +16.4% |
| Amounts payable | 17/49 | €936,835 | €970,865 | +€34,030 | +3.6% |
| Amounts payable after more than one year | 17 | €715,625 | €664,422 | -€51,203 | -7.2% |
| Financial debts | 170/4 | €715,625 | €664,422 | -€51,203 | -7.2% |
| Amounts payable within one year | 42/48 | €221,209 | €306,443 | +€85,233 | +38.5% |
| Current portion of amounts payable after more than one year | 42 | €74,058 | €54,513 | -€19,545 | -26.4% |
| Trade debts | 44 | €8,132 | €16,412 | +€8,280 | +102% |
| Suppliers | 440/4 | €8,132 | €16,412 | +€8,280 | +102% |
| Advances received on contracts in progress | 46 | - | €120,249 | +€120,249 | |
| Taxes, remuneration and social security | 45 | €41,024 | €35,706 | -€5,318 | -13.0% |
| Taxes | 450/3 | €37,089 | €31,771 | -€5,318 | -14.3% |
| Remuneration and social security | 454/9 | €3,935 | €3,935 | = | 0.0% |
| Other amounts payable | 47/48 | €97,995 | €79,562 | -€18,433 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,371 | €45,070 | +€11,699 | +35.1% |
| Other operating charges | 640/8 | €8,078 | €5,837 | -€2,241 | -27.7% |
| Non-recurring operating charges | 66A | €14,656 | - | -€14,656 | |
| Gross operating margin | 9900 | €103,244 | €105,719 | +€2,475 | +2.4% |
| Operating profit (loss) | 9901 | €47,139 | €54,812 | +€7,673 | +16.3% |
| Financial income | 75/76B | €45 | €47 | +€2 | +4.3% |
| Recurring financial income | 75 | €45 | €47 | +€2 | +4.3% |
| Financial charges | 65/66B | €1,283 | €22,549 | +€21,266 | +1,658% |
| Recurring financial charges | 65 | €1,283 | €22,549 | +€21,266 | +1,658% |
| Profit (loss) for the period before taxes | 9903 | €45,901 | €32,311 | -€13,590 | -29.6% |
| Income taxes | 67/77 | €15,264 | €10,496 | -€4,768 | -31.2% |
| Profit (loss) for the period | 9904 | €30,637 | €21,815 | -€8,823 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,637 | €21,815 | -€8,823 | -28.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.