ESTEGEFI: 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.
ESTEGEFI
Largest movements
- Receivables within one year -€4,407
no longer reported in 2025 (was €4,407)
- Deferred charges and accrued income -€2,205
no longer reported in 2025 (was €2,205)
- Other debts +€12,649
up €12,649 (+43.5%), from €29,089 to €41,738
- Tax, wage and social debts -€12,474
down €12,474 (-63.4%), from €19,671 to €7,198
of which Taxes: -€10,974
- Current portion of long-term debt -€2,948
no longer reported in 2025 (was €2,948)
- Profit (loss) carried forward -€2,551
down €2,551 (-5.2%), from €49,229 to €46,678
- Financial income -€62,925
no longer reported in 2025 (was €62,925)
- Taxes -€5,616
down €5,616 (-96.4%), from €5,827 to €211
- Gross operating margin -€1,614
down €1,614 (-18.7%), from €8,628 to €7,014
- Financial charges -€1,248
down €1,248 (-16.5%), from €7,566 to €6,318
- Other operating charges +€529
up €529 (+21.1%), from €2,507 to €3,037
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €206,612 | €200,000 | -€6,612 | -3.2% |
| Fixed assets | 21/28 | €200,000 | €200,000 | = | 0.0% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €6,612 | - | -€6,612 | |
| Amounts receivable within one year | 40/41 | €4,407 | - | -€4,407 | |
| Other amounts receivable | 41 | €4,407 | - | -€4,407 | |
| Deferred charges and accrued income | 490/1 | €2,205 | - | -€2,205 | |
| Total equity and liabilities | 10/49 | €206,612 | €200,000 | -€6,612 | -3.2% |
| Equity | 10/15 | €149,381 | €146,830 | -€2,551 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,552 | €81,552 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €79,692 | €79,692 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,229 | €46,678 | -€2,551 | -5.2% |
| Amounts payable | 17/49 | €57,231 | €53,170 | -€4,061 | -7.1% |
| Amounts payable within one year | 42/48 | €57,231 | €53,170 | -€4,061 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €2,948 | - | -€2,948 | |
| Financial debts | 43 | €2,013 | €2,249 | +€237 | +11.8% |
| Credit institutions | 430/8 | €2,013 | €2,249 | +€237 | +11.8% |
| Trade debts | 44 | €3,510 | €1,986 | -€1,525 | -43.4% |
| Suppliers | 440/4 | €3,510 | €1,986 | -€1,525 | -43.4% |
| Taxes, remuneration and social security | 45 | €19,671 | €7,198 | -€12,474 | -63.4% |
| Taxes | 450/3 | €18,171 | €7,198 | -€10,974 | -60.4% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €29,089 | €41,738 | +€12,649 | +43.5% |
| Other operating charges | 640/8 | €2,507 | €3,037 | +€529 | +21.1% |
| Gross operating margin | 9900 | €8,628 | €7,014 | -€1,614 | -18.7% |
| Operating profit (loss) | 9901 | €6,121 | €3,977 | -€2,143 | -35.0% |
| Financial income | 75/76B | €62,925 | - | -€62,925 | |
| Recurring financial income | 75 | €62,925 | - | -€62,925 | |
| Financial charges | 65/66B | €7,566 | €6,318 | -€1,248 | -16.5% |
| Recurring financial charges | 65 | €7,566 | €6,318 | -€1,248 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €61,480 | -€2,340 | -€63,820 | |
| Income taxes | 67/77 | €5,827 | €211 | -€5,616 | -96.4% |
| Profit (loss) for the period | 9904 | €55,653 | -€2,551 | -€58,204 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,653 | -€2,551 | -€58,204 |
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.