ESTAATA: 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.
What changed
ESTAATA
NACE 68.121, Development of residential building projects
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€29,553
2025 · €255,240-€225,687
Equity
€4.3m
2025 · €4.3m+€29,553
Cash
€463,471
2025 · €166,848+€296,623
Balance sheet total
€8.2m
2025 · €7.5m+€643,453
Largest movements
Assets
- Receivables within one year +€303,991
up €303,991 (+711%), from €42,784 to €346,775
of which Trade receivables: +€289,912
- Cash +€296,623
up €296,623 (+178%), from €166,848 to €463,471
mainly Short-term financial debts (+€986,663) and Other debts (+€764,779)
- Stocks and contracts +€86,948
up €86,948 (+4.9%), from €1.8m to €1.9m
Equity and liabilities
- Trade debts -€1.5m
down €1.5m (-88.8%), from €1.7m to €186,864
- Short-term financial debts +€986,663
up €986,663 (+110%), from €893,337 to €1.9m
- Other debts +€764,779
up €764,779 (+219%), from €348,964 to €1.1m
- Advances received +€374,014
up €374,014 (+220%), from €170,080 to €544,095
Income statement
- Turnover -€9.6m
no longer reported in 2026 (was €9.6m)
- Goods and materials -€6.0m
no longer reported in 2026 (was €6.0m)
- Services and other goods -€240,678
no longer reported in 2026 (was €240,678)
- Financial charges -€109,087
down €109,087 (-65.0%), from €167,807 to €58,720
From the 2025 result to the 2026 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.
Result 2025
€255,240
Turnover
-€9.6m
Goods and materials
+€6.0m
Services and other goods
+€240,678
Provisions
+€75,563
Other operating charges
+€66
Other operating items
+€2.9m
Financial income
-€34,834
Financial charges
+€109,087
Taxes
+€84,159
Result 2026
€29,553
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€690,040
Investment
€0
Financing
+€986,663
Cash 2025
€166,848
From operations (derived)
-€690,040
Net result for the year
+€29,553
Stocks and contracts
-€86,948
Receivables within one year
-€303,991
Deferred charges and accrued income
+€44,110
Provisions
+€16,188
Trade debts
-€1.5m
Tax, wage and social debts
+€7,492
Advances received
+€374,014
Other debts
+€764,779
Accrued charges and deferred income
-€46,278
Financing
+€986,663
Short-term financial debts
+€986,663
Cash 2026
€463,471
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,534,085 | €8,177,537 | +€643,453 | +8.5% |
| Fixed assets | 21/28 | €5,500,000 | €5,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €5,500,000 | €5,500,000 | = | 0.0% |
| Affiliated companies | 280/1 | €5,500,000 | - | -€5.5m | |
| Participating interests | 280 | €5,500,000 | - | -€5.5m | |
| Current assets | 29/58 | €2,034,085 | €2,677,537 | +€643,453 | +31.6% |
| Stocks and contracts in progress | 3 | €1,780,343 | €1,867,292 | +€86,948 | +4.9% |
| Stocks | 30/36 | €1,780,343 | €1,867,292 | +€86,948 | +4.9% |
| Property held for sale | 35 | €1,780,343 | - | -€1.8m | |
| Amounts receivable within one year | 40/41 | €42,784 | €346,775 | +€303,991 | +711% |
| Trade receivables | 40 | €42,784 | €332,696 | +€289,912 | +678% |
| Other amounts receivable | 41 | - | €14,079 | +€14,079 | |
| Cash at bank and in hand | 54/58 | €166,848 | €463,471 | +€296,623 | +178% |
| Deferred charges and accrued income | 490/1 | €44,110 | €0 | -€44,110 | -100% |
| Total equity and liabilities | 10/49 | €7,534,085 | €8,177,537 | +€643,453 | +8.5% |
| Equity | 10/15 | €4,264,845 | €4,294,398 | +€29,553 | +0.7% |
| Contributions | 10/11 | €349,166 | €349,166 | = | 0.0% |
| Capital | 10 | €349,166 | €349,166 | = | 0.0% |
| Issued capital | 100 | €349,166 | €349,166 | = | 0.0% |
| Reserves | 13 | €3,915,679 | €3,945,232 | +€29,553 | +0.8% |
| Non-distributable reserves | 130/1 | €34,917 | €34,917 | = | 0.0% |
| Legal reserve | 130 | €34,917 | €34,917 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,561,890 | €3,518,187 | -€43,704 | -1.2% |
| Distributable reserves | 133 | €318,872 | €392,129 | +€73,257 | +23.0% |
| Provisions and deferred taxes | 16 | €111,750 | €127,938 | +€16,188 | +14.5% |
| Provisions for liabilities and charges | 160/5 | €111,750 | €127,938 | +€16,188 | +14.5% |
| Other liabilities and charges | 164/5 | €111,750 | €127,938 | +€16,188 | +14.5% |
| Amounts payable | 17/49 | €3,157,490 | €3,755,202 | +€597,712 | +18.9% |
| Amounts payable within one year | 42/48 | €3,105,558 | €3,749,548 | +€643,990 | +20.7% |
| Financial debts | 43 | €893,337 | €1,880,000 | +€986,663 | +110% |
| Credit institutions | 430/8 | €893,337 | €1,880,000 | +€986,663 | +110% |
| Trade debts | 44 | €1,675,823 | €186,864 | -€1.5m | -88.8% |
| Suppliers | 440/4 | €1,675,823 | €186,864 | -€1.5m | -88.8% |
| Advances received on contracts in progress | 46 | €170,080 | €544,095 | +€374,014 | +220% |
| Taxes, remuneration and social security | 45 | €17,355 | €24,847 | +€7,492 | +43.2% |
| Taxes | 450/3 | €17,355 | €24,847 | +€7,492 | +43.2% |
| Other amounts payable | 47/48 | €348,964 | €1,113,742 | +€764,779 | +219% |
| Accrued charges and deferred income | 492/3 | €51,931 | €5,654 | -€46,278 | -89.1% |
| Operating income | 70/76A | €6,746,994 | - | -€6.7m | |
| Turnover | 70 | €9,599,952 | - | -€9.6m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€2,852,959 | - | +€2.9m | |
| Other operating income | 74 | €0 | - | = | |
| Operating charges | 60/66A | €6,286,808 | - | -€6.3m | |
| Goods for resale, raw materials and consumables | 60 | €5,952,938 | - | -€6.0m | |
| Purchases | 600/8 | €5,952,938 | - | -€6.0m | |
| Services and other goods | 61 | €240,678 | - | -€240,678 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €91,750 | €16,188 | -€75,563 | -82.4% |
| Other operating charges | 640/8 | €1,442 | €1,376 | -€66 | -4.6% |
| Gross operating margin | 9900 | - | €93,650 | +€93,650 | |
| Operating profit (loss) | 9901 | €460,186 | €76,087 | -€384,099 | -83.5% |
| Financial income | 75/76B | €47,942 | €13,107 | -€34,834 | -72.7% |
| Recurring financial income | 75 | €47,942 | €13,107 | -€34,834 | -72.7% |
| Income from current assets | 751 | €47,916 | - | -€47,916 | |
| Other financial income | 752/9 | €26 | - | -€26 | |
| Financial charges | 65/66B | €167,807 | €58,720 | -€109,087 | -65.0% |
| Recurring financial charges | 65 | €167,807 | €58,720 | -€109,087 | -65.0% |
| Debt charges | 650 | €141,906 | - | -€141,906 | |
| Other financial charges | 652/9 | €25,902 | - | -€25,902 | |
| Profit (loss) for the period before taxes | 9903 | €340,320 | €30,474 | -€309,846 | -91.0% |
| Income taxes | 67/77 | €85,080 | €921 | -€84,159 | -98.9% |
| Taxes | 670/3 | €85,080 | - | -€85,080 | |
| Profit (loss) for the period | 9904 | €255,240 | €29,553 | -€225,687 | -88.4% |
| Transfer from tax-exempt reserves | 789 | - | €43,704 | +€43,704 | |
| Profit (loss) for the period to be appropriated | 9905 | €255,240 | €73,257 | -€181,983 | -71.3% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.