ESTATEX: 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.
ESTATEX
Largest movements
- Tangible fixed assets -€10,547
down €10,547 (-3.3%), from €318,575 to €308,028
- Cash -€4,386
down €4,386 (-19.0%), from €23,139 to €18,753
mainly Debts after one year (-€7,685) and Net result for the year (-€7,586)
- Debts after one year -€7,685
down €7,685 (-5.0%), from €154,203 to €146,518
- Profit (loss) carried forward -€7,586
down €7,586 (-23.7%), from -€32,025 to -€39,610
- Gross operating margin +€24,752
up €24,752, from -€14,310 to €10,442
- Depreciation +€322
up €322 (+3.1%), from €10,225 to €10,547
- Other operating charges -€175
down €175 (-9.9%), from €1,779 to €1,603
- Financial charges +€167
up €167 (+2.9%), from €5,711 to €5,878
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 | €342,455 | €327,103 | -€15,352 | -4.5% |
| Fixed assets | 21/28 | €318,575 | €308,028 | -€10,547 | -3.3% |
| Tangible fixed assets | 22/27 | €318,575 | €308,028 | -€10,547 | -3.3% |
| Land and buildings | 22 | €318,575 | €308,028 | -€10,547 | -3.3% |
| Current assets | 29/58 | €23,881 | €19,075 | -€4,806 | -20.1% |
| Amounts receivable within one year | 40/41 | €741 | €228 | -€512 | -69.2% |
| Trade receivables | 40 | €741 | €228 | -€512 | -69.2% |
| Cash at bank and in hand | 54/58 | €23,139 | €18,753 | -€4,386 | -19.0% |
| Deferred charges and accrued income | 490/1 | €2 | €94 | +€93 | +5931.4% |
| Total equity and liabilities | 10/49 | €342,455 | €327,103 | -€15,352 | -4.5% |
| Equity | 10/15 | €87,975 | €80,390 | -€7,586 | -8.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,025 | -€39,610 | -€7,586 | -23.7% |
| Amounts payable | 17/49 | €254,480 | €246,713 | -€7,767 | -3.1% |
| Amounts payable after more than one year | 17 | €154,203 | €146,518 | -€7,685 | -5.0% |
| Financial debts | 170/4 | €154,203 | €146,518 | -€7,685 | -5.0% |
| Amounts payable within one year | 42/48 | €100,256 | €100,153 | -€103 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €7,411 | €7,685 | +€274 | +3.7% |
| Trade debts | 44 | €1,312 | €935 | -€377 | -28.7% |
| Suppliers | 440/4 | €1,312 | €935 | -€377 | -28.7% |
| Other amounts payable | 47/48 | €91,534 | €91,534 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €21 | €42 | +€21 | +99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,225 | €10,547 | +€322 | +3.1% |
| Other operating charges | 640/8 | €1,779 | €1,603 | -€175 | -9.9% |
| Gross operating margin | 9900 | -€14,310 | €10,442 | +€24,752 | |
| Operating profit (loss) | 9901 | -€26,314 | -€1,708 | +€24,606 | +93.5% |
| Financial charges | 65/66B | €5,711 | €5,878 | +€167 | +2.9% |
| Recurring financial charges | 65 | €5,711 | €5,878 | +€167 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€32,025 | -€7,586 | +€24,439 | +76.3% |
| Profit (loss) for the period | 9904 | -€32,025 | -€7,586 | +€24,439 | +76.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,025 | -€7,586 | +€24,439 | +76.3% |
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 8 October 2026 via checked.be.