ESTABLIS GROUP: 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.
ESTABLIS GROUP
Largest movements
- Current investments +€341,564
up €341,564 (+67.8%), from €503,861 to €845,424
- Receivables after one year +€108,396
up €108,396 (+97.9%), from €110,769 to €219,165
- Cash -€86,999
down €86,999 (-11.0%), from €788,262 to €701,264
mainly Current investments (-€341,564) and Receivables after one year (-€108,396)
- Deferred charges and accrued income +€81,865
up €81,865 (+868%), from €9,435 to €91,300
- Reserves +€392,320
up €392,320 (+17.0%), from €2.3m to €2.7m
- Other debts +€59,148
up €59,148 (+2,325%), from €2,544 to €61,692
- Gross operating margin -€56,831
down €56,831 (-13.8%), from €412,813 to €355,982
- Financial income +€32,242
up €32,242 (+7.5%), from €428,813 to €461,054
of which Financial income: +€344,519
- Taxes -€12,637
down €12,637 (-24.1%), from €52,528 to €39,891
- Financial charges +€9,148
up €9,148 (+157%), from €5,825 to €14,974
of which Non-recurring financial charges: +€10,380
- Staff costs -€6,948
down €6,948 (-2.2%), from €316,114 to €309,165
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 | €3,088,939 | €3,494,823 | +€405,883 | +13.1% |
| Fixed assets | 21/28 | €1,538,194 | €1,477,013 | -€61,182 | -4.0% |
| Intangible fixed assets | 21 | €76,422 | €71,071 | -€5,352 | -7.0% |
| Tangible fixed assets | 22/27 | €112,725 | €87,697 | -€25,028 | -22.2% |
| Plant, machinery and equipment | 23 | €70,437 | €59,513 | -€10,923 | -15.5% |
| Furniture and vehicles | 24 | €31,601 | €19,721 | -€11,880 | -37.6% |
| Other tangible fixed assets | 26 | €10,688 | €8,463 | -€2,225 | -20.8% |
| Financial fixed assets | 28 | €1,349,047 | €1,318,246 | -€30,802 | -2.3% |
| Current assets | 29/58 | €1,550,745 | €2,017,810 | +€467,065 | +30.1% |
| Amounts receivable after more than one year | 29 | €110,769 | €219,165 | +€108,396 | +97.9% |
| Other amounts receivable | 291 | €110,769 | €219,165 | +€108,396 | +97.9% |
| Amounts receivable within one year | 40/41 | €138,418 | €160,656 | +€22,238 | +16.1% |
| Trade receivables | 40 | €138,418 | €136,865 | -€1,553 | -1.1% |
| Other amounts receivable | 41 | - | €23,791 | +€23,791 | |
| Current investments | 50/53 | €503,861 | €845,424 | +€341,564 | +67.8% |
| Cash at bank and in hand | 54/58 | €788,262 | €701,264 | -€86,999 | -11.0% |
| Deferred charges and accrued income | 490/1 | €9,435 | €91,300 | +€81,865 | +868% |
| Total equity and liabilities | 10/49 | €3,088,939 | €3,494,823 | +€405,883 | +13.1% |
| Equity | 10/15 | €2,801,409 | €3,193,731 | +€392,323 | +14.0% |
| Contributions | 10/11 | €495,000 | €495,000 | = | 0.0% |
| Reserves | 13 | €2,305,505 | €2,697,825 | +€392,320 | +17.0% |
| Distributable reserves | 133 | €2,305,505 | €2,697,825 | +€392,320 | +17.0% |
| Profit (loss) carried forward | 14 | €904 | €906 | +€3 | +0.3% |
| Amounts payable | 17/49 | €287,531 | €301,091 | +€13,560 | +4.7% |
| Amounts payable after more than one year | 17 | €33,909 | €8,146 | -€25,763 | -76.0% |
| Financial debts | 170/4 | €33,909 | €8,146 | -€25,763 | -76.0% |
| Amounts payable within one year | 42/48 | €253,622 | €292,930 | +€39,308 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €27,698 | €25,763 | -€1,935 | -7.0% |
| Trade debts | 44 | €148,747 | €115,710 | -€33,037 | -22.2% |
| Suppliers | 440/4 | €148,747 | €115,710 | -€33,037 | -22.2% |
| Taxes, remuneration and social security | 45 | €74,632 | €89,764 | +€15,132 | +20.3% |
| Taxes | 450/3 | €43,666 | €52,755 | +€9,089 | +20.8% |
| Remuneration and social security | 454/9 | €30,966 | €37,009 | +€6,043 | +19.5% |
| Other amounts payable | 47/48 | €2,544 | €61,692 | +€59,148 | +2,325% |
| Accrued charges and deferred income | 492/3 | €0 | €15 | +€15 | |
| Remuneration, social security and pensions | 62 | €316,114 | €309,165 | -€6,948 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,584 | €57,009 | +€4,425 | +8.4% |
| Other operating charges | 640/8 | €1,069 | €1,126 | +€57 | +5.4% |
| Non-recurring operating charges | 66A | - | €2,548 | +€2,548 | |
| Gross operating margin | 9900 | €412,813 | €355,982 | -€56,831 | -13.8% |
| Operating profit (loss) | 9901 | €43,046 | -€13,867 | -€56,913 | |
| Financial income | 75/76B | €428,813 | €461,054 | +€32,242 | +7.5% |
| Recurring financial income | 75 | €13,911 | €358,430 | +€344,519 | +2,477% |
| Non-recurring financial income | 76B | €414,901 | €102,625 | -€312,277 | -75.3% |
| Financial charges | 65/66B | €5,825 | €14,974 | +€9,148 | +157% |
| Recurring financial charges | 65 | €5,825 | €4,594 | -€1,232 | -21.1% |
| Non-recurring financial charges | 66B | - | €10,380 | +€10,380 | |
| Profit (loss) for the period before taxes | 9903 | €466,033 | €432,214 | -€33,820 | -7.3% |
| Income taxes | 67/77 | €52,528 | €39,891 | -€12,637 | -24.1% |
| Profit (loss) for the period | 9904 | €413,505 | €392,323 | -€21,183 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €413,505 | €392,323 | -€21,183 | -5.1% |
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 27 October 2026 via checked.be.