ESTATE et CONCEPT: 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.
ESTATE et CONCEPT
Largest movements
- Financial fixed assets -€127,742
down €127,742 (-99.8%), from €127,971 to €229
- Current investments +€127,742
new in 2025: €127,742
- Receivables within one year +€82,764
up €82,764 (+25.8%), from €320,641 to €403,406
of which Other amounts receivable: +€62,576
- Tangible fixed assets -€24,807
down €24,807 (-4.5%), from €545,813 to €521,006
of which Land and buildings: -€21,346
- Cash -€15,068
down €15,068 (-47.6%), from €31,648 to €16,580
- Debts after one year +€29,502
up €29,502 (+11.3%), from €261,313 to €290,814
- Current portion of long-term debt +€26,025
up €26,025 (+1,874%), from €1,389 to €27,414
- Other debts +€13,973
up €13,973 (+7.4%), from €189,467 to €203,440
- Tax, wage and social debts -€11,820
down €11,820 (-62.1%), from €19,048 to €7,228
of which Taxes: -€11,222
- Other operating charges -€63,314
down €63,314 (-97.3%), from €65,087 to €1,773
- Gross operating margin -€62,023
down €62,023 (-88.6%), from €70,026 to €8,003
- Depreciation -€18,773
down €18,773 (-67.0%), from €28,003 to €9,230
- Financial income +€14,349
new in 2025: €14,349
of which Non-recurring financial income: +€12,701
- Financial charges +€7,396
up €7,396 (+3,632%), from €204 to €7,600
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,027,561 | €1,070,883 | +€43,323 | +4.2% |
| Fixed assets | 21/28 | €673,784 | €521,235 | -€152,549 | -22.6% |
| Tangible fixed assets | 22/27 | €545,813 | €521,006 | -€24,807 | -4.5% |
| Land and buildings | 22 | €528,509 | €507,163 | -€21,346 | -4.0% |
| Plant, machinery and equipment | 23 | €17,304 | €13,843 | -€3,461 | -20.0% |
| Financial fixed assets | 28 | €127,971 | €229 | -€127,742 | -99.8% |
| Current assets | 29/58 | €353,776 | €549,648 | +€195,872 | +55.4% |
| Amounts receivable within one year | 40/41 | €320,641 | €403,406 | +€82,764 | +25.8% |
| Trade receivables | 40 | €74,470 | €94,658 | +€20,188 | +27.1% |
| Other amounts receivable | 41 | €246,171 | €308,747 | +€62,576 | +25.4% |
| Current investments | 50/53 | - | €127,742 | +€127,742 | |
| Cash at bank and in hand | 54/58 | €31,648 | €16,580 | -€15,068 | -47.6% |
| Deferred charges and accrued income | 490/1 | €1,487 | €1,921 | +€433 | +29.1% |
| Total equity and liabilities | 10/49 | €1,027,561 | €1,070,883 | +€43,323 | +4.2% |
| Equity | 10/15 | €531,937 | €523,345 | -€8,592 | -1.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €60,000 | €60,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,964 | €1,372 | -€8,592 | -86.2% |
| Amounts payable | 17/49 | €495,623 | €547,538 | +€51,915 | +10.5% |
| Amounts payable after more than one year | 17 | €261,313 | €290,814 | +€29,502 | +11.3% |
| Financial debts | 170/4 | €261,313 | €290,814 | +€29,502 | +11.3% |
| Amounts payable within one year | 42/48 | €222,020 | €244,433 | +€22,413 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €1,389 | €27,414 | +€26,025 | +1,874% |
| Financial debts | 43 | €3,284 | €3,284 | = | 0.0% |
| Credit institutions | 430/8 | €3,284 | €3,284 | = | 0.0% |
| Trade debts | 44 | €8,832 | €3,067 | -€5,765 | -65.3% |
| Suppliers | 440/4 | €8,832 | €3,067 | -€5,765 | -65.3% |
| Taxes, remuneration and social security | 45 | €19,048 | €7,228 | -€11,820 | -62.1% |
| Taxes | 450/3 | €18,450 | €7,228 | -€11,222 | -60.8% |
| Remuneration and social security | 454/9 | €598 | - | -€598 | |
| Other amounts payable | 47/48 | €189,467 | €203,440 | +€13,973 | +7.4% |
| Accrued charges and deferred income | 492/3 | €12,291 | €12,291 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,003 | €9,230 | -€18,773 | -67.0% |
| Other operating charges | 640/8 | €65,087 | €1,773 | -€63,314 | -97.3% |
| Gross operating margin | 9900 | €70,026 | €8,003 | -€62,023 | -88.6% |
| Operating profit (loss) | 9901 | -€23,064 | -€3,001 | +€20,064 | +87.0% |
| Financial income | 75/76B | - | €14,349 | +€14,349 | |
| Recurring financial income | 75 | - | €1,647 | +€1,647 | |
| Non-recurring financial income | 76B | - | €12,701 | +€12,701 | |
| Financial charges | 65/66B | €204 | €7,600 | +€7,396 | +3,632% |
| Recurring financial charges | 65 | €204 | €7,600 | +€7,396 | +3,632% |
| Profit (loss) for the period before taxes | 9903 | -€23,268 | €3,749 | +€27,017 | |
| Income taxes | 67/77 | - | €494 | +€494 | |
| Profit (loss) for the period | 9904 | -€23,268 | €3,254 | +€26,522 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,268 | €3,254 | +€26,522 |
Source: filed annual accounts (NBB), financial years ended 30 December 2023 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.