EsteDM: 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.
EsteDM
Largest movements
- Cash +€52,954
up €52,954 (+35.6%), from €148,646 to €201,600
mainly Net result for the year (+€33,897) and Receivables within one year (+€7,027)
- Receivables within one year -€7,027
down €7,027 (-19.8%), from €35,439 to €28,412
of which Trade receivables: -€9,932
- Reserves +€33,897
up €33,897 (+33.0%), from €102,601 to €136,497
- Other debts +€6,351
up €6,351 (+17.9%), from €35,508 to €41,859
- Trade debts +€3,795
up €3,795 (+16.3%), from €23,325 to €27,120
- Gross operating margin -€9,410
down €9,410 (-16.6%), from €56,782 to €47,372
- Taxes -€2,143
down €2,143 (-19.1%), from €11,238 to €9,095
- Financial charges +€1,437
up €1,437 (+1197.8%), from €120 to €1,557
- Financial income -€727
down €727 (-100.0%), from €727 to €0
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 | €187,835 | €232,477 | +€44,642 | +23.8% |
| Fixed assets | 21/28 | €3,082 | €1,870 | -€1,213 | -39.3% |
| Tangible fixed assets | 22/27 | €3,082 | €1,870 | -€1,213 | -39.3% |
| Furniture and vehicles | 24 | €640 | €27 | -€613 | -95.8% |
| Other tangible fixed assets | 26 | €2,443 | €1,843 | -€600 | -24.6% |
| Current assets | 29/58 | €184,752 | €230,607 | +€45,855 | +24.8% |
| Amounts receivable within one year | 40/41 | €35,439 | €28,412 | -€7,027 | -19.8% |
| Trade receivables | 40 | €31,677 | €21,745 | -€9,932 | -31.4% |
| Other amounts receivable | 41 | €3,762 | €6,667 | +€2,905 | +77.2% |
| Cash at bank and in hand | 54/58 | €148,646 | €201,600 | +€52,954 | +35.6% |
| Deferred charges and accrued income | 490/1 | €667 | €595 | -€72 | -10.8% |
| Total equity and liabilities | 10/49 | €187,835 | €232,477 | +€44,642 | +23.8% |
| Equity | 10/15 | €121,201 | €155,097 | +€33,897 | +28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €102,601 | €136,497 | +€33,897 | +33.0% |
| Distributable reserves | 133 | €102,601 | €136,497 | +€33,897 | +33.0% |
| Amounts payable | 17/49 | €66,634 | €77,380 | +€10,746 | +16.1% |
| Amounts payable within one year | 42/48 | €66,634 | €77,380 | +€10,746 | +16.1% |
| Trade debts | 44 | €23,325 | €27,120 | +€3,795 | +16.3% |
| Suppliers | 440/4 | €23,325 | €27,120 | +€3,795 | +16.3% |
| Taxes, remuneration and social security | 45 | €7,800 | €8,400 | +€600 | +7.7% |
| Taxes | 450/3 | €2,550 | €2,850 | +€300 | +11.8% |
| Remuneration and social security | 454/9 | €5,250 | €5,550 | +€300 | +5.7% |
| Other amounts payable | 47/48 | €35,508 | €41,859 | +€6,351 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,170 | €1,213 | +€43 | +3.6% |
| Other operating charges | 640/8 | €1,569 | €1,611 | +€42 | +2.6% |
| Gross operating margin | 9900 | €56,782 | €47,372 | -€9,410 | -16.6% |
| Operating profit (loss) | 9901 | €54,043 | €44,549 | -€9,494 | -17.6% |
| Financial income | 75/76B | €727 | €0 | -€727 | -100.0% |
| Recurring financial income | 75 | €727 | €0 | -€727 | -100.0% |
| Financial charges | 65/66B | €120 | €1,557 | +€1,437 | +1197.8% |
| Recurring financial charges | 65 | €120 | €1,557 | +€1,437 | +1197.8% |
| Profit (loss) for the period before taxes | 9903 | €54,650 | €42,991 | -€11,658 | -21.3% |
| Income taxes | 67/77 | €11,238 | €9,095 | -€2,143 | -19.1% |
| Profit (loss) for the period | 9904 | €43,411 | €33,897 | -€9,515 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,411 | €33,897 | -€9,515 | -21.9% |
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 29 September 2026 via checked.be.