ESTE INVEST: 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.
ESTE INVEST
Largest movements
- Cash +€54,876
up €54,876 (+68.0%), from €80,718 to €135,594
mainly Net result for the year (+€63,852) and Depreciation (+€44,694)
- Current investments +€50,000
up €50,000 (+16.7%), from €300,000 to €350,000
- Tangible fixed assets -€34,062
down €34,062 (-2.9%), from €1.2m to €1.1m
of which Land and buildings: -€38,020
- Reserves +€60,000
up €60,000 (+17.9%), from €336,000 to €396,000
- Gross operating margin +€9,745
up €9,745 (+5.9%), from €165,973 to €175,717
- Financial charges -€4,475
down €4,475 (-11.2%), from €39,890 to €35,415
- Taxes +€3,858
up €3,858 (+22.0%), from €17,544 to €21,402
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 | €1,550,103 | €1,623,158 | +€73,054 | +4.7% |
| Fixed assets | 21/28 | €1,166,562 | €1,132,500 | -€34,062 | -2.9% |
| Tangible fixed assets | 22/27 | €1,166,057 | €1,131,995 | -€34,062 | -2.9% |
| Land and buildings | 22 | €1,143,024 | €1,105,004 | -€38,020 | -3.3% |
| Plant, machinery and equipment | 23 | €23,034 | €26,991 | +€3,957 | +17.2% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €505 | €505 | = | 0.0% |
| Current assets | 29/58 | €383,541 | €490,658 | +€107,117 | +27.9% |
| Current investments | 50/53 | €300,000 | €350,000 | +€50,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €80,718 | €135,594 | +€54,876 | +68.0% |
| Deferred charges and accrued income | 490/1 | €2,823 | €5,064 | +€2,241 | +79.4% |
| Total equity and liabilities | 10/49 | €1,550,103 | €1,623,158 | +€73,054 | +4.7% |
| Equity | 10/15 | €1,014,693 | €1,078,545 | +€63,852 | +6.3% |
| Contributions | 10/11 | €675,304 | €675,304 | = | 0.0% |
| Reserves | 13 | €336,000 | €396,000 | +€60,000 | +17.9% |
| Distributable reserves | 133 | €336,000 | €396,000 | +€60,000 | +17.9% |
| Profit (loss) carried forward | 14 | €3,389 | €7,241 | +€3,852 | +114% |
| Amounts payable | 17/49 | €535,411 | €544,612 | +€9,202 | +1.7% |
| Amounts payable after more than one year | 17 | €2,730 | €2,730 | = | 0.0% |
| Other amounts payable | 178/9 | €2,730 | €2,730 | = | 0.0% |
| Amounts payable within one year | 42/48 | €493,714 | €507,483 | +€13,769 | +2.8% |
| Trade debts | 44 | €3,555 | €5,378 | +€1,823 | +51.3% |
| Suppliers | 440/4 | €3,555 | €5,378 | +€1,823 | +51.3% |
| Taxes, remuneration and social security | 45 | €2,544 | €8,947 | +€6,402 | +252% |
| Taxes | 450/3 | €2,544 | €8,947 | +€6,402 | +252% |
| Other amounts payable | 47/48 | €487,615 | €493,158 | +€5,544 | +1.1% |
| Accrued charges and deferred income | 492/3 | €38,966 | €34,399 | -€4,567 | -11.7% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,868 | €44,694 | -€174 | -0.4% |
| Other operating charges | 640/8 | €15,825 | €15,758 | -€67 | -0.4% |
| Gross operating margin | 9900 | €165,973 | €175,717 | +€9,745 | +5.9% |
| Operating profit (loss) | 9901 | €105,280 | €115,265 | +€9,985 | +9.5% |
| Financial income | 75/76B | €4,497 | €5,405 | +€908 | +20.2% |
| Recurring financial income | 75 | €4,497 | €5,405 | +€908 | +20.2% |
| Financial charges | 65/66B | €39,890 | €35,415 | -€4,475 | -11.2% |
| Recurring financial charges | 65 | €39,890 | €35,415 | -€4,475 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €69,887 | €85,255 | +€15,368 | +22.0% |
| Income taxes | 67/77 | €17,544 | €21,402 | +€3,858 | +22.0% |
| Profit (loss) for the period | 9904 | €52,343 | €63,852 | +€11,510 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,343 | €63,852 | +€11,510 | +22.0% |
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 13 October 2026 via checked.be.