ESTEC: 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.
ESTEC
Largest movements
- Receivables within one year +€30,013
up €30,013 (+119%), from €25,128 to €55,141
of which Other amounts receivable: +€25,874
- Cash -€23,259
down €23,259 (-66.0%), from €35,234 to €11,975
mainly Receivables within one year (-€30,013) and Tax, wage and social debts (-€5,106)
- Formation expenses -€1,619
down €1,619 (-100%), from €1,619 to €0
- Profit (loss) carried forward +€12,008
up €12,008 (+30.9%), from €38,811 to €50,819
- Tax, wage and social debts -€5,106
down €5,106 (-29.8%), from €17,120 to €12,014
of which Taxes: -€8,356
- Trade debts -€1,681
down €1,681 (-26.1%), from €6,440 to €4,758
- Gross operating margin -€23,214
down €23,214 (-40.1%), from €57,917 to €34,704
- Other operating charges +€8,557
up €8,557 (+107%), from €7,970 to €16,527
- Taxes -€6,465
down €6,465 (-64.4%), from €10,046 to €3,581
- Financial charges +€947
up €947 (+7,361%), from €13 to €960
- Depreciation +€921
up €921 (+44.2%), from €2,082 to €3,003
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 | €67,564 | €72,852 | +€5,288 | +7.8% |
| Formation expenses | 20 | €1,619 | €0 | -€1,619 | -100% |
| Fixed assets | 21/28 | €4,400 | €4,738 | +€338 | +7.7% |
| Tangible fixed assets | 22/27 | €4,400 | €4,738 | +€338 | +7.7% |
| Plant, machinery and equipment | 23 | €3,200 | €1,800 | -€1,400 | -43.8% |
| Furniture and vehicles | 24 | €1,200 | €2,938 | +€1,738 | +145% |
| Current assets | 29/58 | €61,545 | €68,114 | +€6,569 | +10.7% |
| Amounts receivable within one year | 40/41 | €25,128 | €55,141 | +€30,013 | +119% |
| Trade receivables | 40 | €7,424 | €11,563 | +€4,139 | +55.8% |
| Other amounts receivable | 41 | €17,704 | €43,578 | +€25,874 | +146% |
| Cash at bank and in hand | 54/58 | €35,234 | €11,975 | -€23,259 | -66.0% |
| Deferred charges and accrued income | 490/1 | €1,183 | €997 | -€185 | -15.7% |
| Total equity and liabilities | 10/49 | €67,564 | €72,852 | +€5,288 | +7.8% |
| Equity | 10/15 | €43,811 | €55,819 | +€12,008 | +27.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,811 | €50,819 | +€12,008 | +30.9% |
| Amounts payable | 17/49 | €23,753 | €17,034 | -€6,719 | -28.3% |
| Amounts payable within one year | 42/48 | €23,559 | €16,772 | -€6,787 | -28.8% |
| Trade debts | 44 | €6,440 | €4,758 | -€1,681 | -26.1% |
| Suppliers | 440/4 | €6,440 | €4,758 | -€1,681 | -26.1% |
| Taxes, remuneration and social security | 45 | €17,120 | €12,014 | -€5,106 | -29.8% |
| Taxes | 450/3 | €17,120 | €8,764 | -€8,356 | -48.8% |
| Remuneration and social security | 454/9 | - | €3,250 | +€3,250 | |
| Accrued charges and deferred income | 492/3 | €194 | €262 | +€68 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,082 | €3,003 | +€921 | +44.2% |
| Other operating charges | 640/8 | €7,970 | €16,527 | +€8,557 | +107% |
| Gross operating margin | 9900 | €57,917 | €34,704 | -€23,214 | -40.1% |
| Operating profit (loss) | 9901 | €47,865 | €15,174 | -€32,691 | -68.3% |
| Financial income | 75/76B | €1,005 | €1,375 | +€371 | +36.9% |
| Recurring financial income | 75 | €1,005 | €1,375 | +€371 | +36.9% |
| Financial charges | 65/66B | €13 | €960 | +€947 | +7,361% |
| Recurring financial charges | 65 | €13 | €960 | +€947 | +7,361% |
| Profit (loss) for the period before taxes | 9903 | €48,857 | €15,589 | -€33,268 | -68.1% |
| Income taxes | 67/77 | €10,046 | €3,581 | -€6,465 | -64.4% |
| Profit (loss) for the period | 9904 | €38,811 | €12,008 | -€26,803 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,811 | €12,008 | -€26,803 | -69.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.