ESTERNO 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.
ESTERNO INVEST
Largest movements
- Tangible fixed assets -€12,320
down €12,320 (-1.9%), from €651,155 to €638,835
- Debts after one year -€35,193
down €35,193 (-8.1%), from €435,840 to €400,647
- Profit (loss) carried forward +€8,693
up €8,693 (+23.6%), from €36,833 to €45,526
- Gross operating margin +€3,050
up €3,050 (+9.6%), from €31,769 to €34,819
- Taxes +€2,095
new in 2025: €2,095
- Other operating charges -€676
down €676 (-17.7%), from €3,823 to €3,147
- Financial charges +€406
up €406 (+5.0%), from €8,158 to €8,564
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 | €653,511 | €639,879 | -€13,632 | -2.1% |
| Fixed assets | 21/28 | €651,155 | €638,835 | -€12,320 | -1.9% |
| Tangible fixed assets | 22/27 | €651,155 | €638,835 | -€12,320 | -1.9% |
| Land and buildings | 22 | €651,155 | €638,835 | -€12,320 | -1.9% |
| Current assets | 29/58 | €2,356 | €1,044 | -€1,312 | -55.7% |
| Amounts receivable within one year | 40/41 | €1,310 | - | -€1,310 | |
| Trade receivables | 40 | €1,310 | - | -€1,310 | |
| Cash at bank and in hand | 54/58 | €246 | €214 | -€32 | -13.0% |
| Deferred charges and accrued income | 490/1 | €800 | €830 | +€30 | +3.8% |
| Total equity and liabilities | 10/49 | €653,511 | €639,879 | -€13,632 | -2.1% |
| Equity | 10/15 | €66,833 | €75,526 | +€8,693 | +13.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,833 | €45,526 | +€8,693 | +23.6% |
| Amounts payable | 17/49 | €586,678 | €564,353 | -€22,325 | -3.8% |
| Amounts payable after more than one year | 17 | €435,840 | €400,647 | -€35,193 | -8.1% |
| Financial debts | 170/4 | €435,840 | €400,647 | -€35,193 | -8.1% |
| Amounts payable within one year | 42/48 | €148,838 | €160,074 | +€11,236 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €34,700 | €35,193 | +€493 | +1.4% |
| Trade debts | 44 | €2,536 | €6,100 | +€3,564 | +141% |
| Suppliers | 440/4 | €2,536 | €6,100 | +€3,564 | +141% |
| Taxes, remuneration and social security | 45 | €2,051 | €5,911 | +€3,860 | +188% |
| Taxes | 450/3 | €2,051 | €5,911 | +€3,860 | +188% |
| Other amounts payable | 47/48 | €109,551 | €112,870 | +€3,319 | +3.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | €3,632 | +€1,632 | +81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,320 | €12,320 | = | 0.0% |
| Other operating charges | 640/8 | €3,823 | €3,147 | -€676 | -17.7% |
| Gross operating margin | 9900 | €31,769 | €34,819 | +€3,050 | +9.6% |
| Operating profit (loss) | 9901 | €15,626 | €19,352 | +€3,726 | +23.8% |
| Financial charges | 65/66B | €8,158 | €8,564 | +€406 | +5.0% |
| Recurring financial charges | 65 | €8,158 | €8,564 | +€406 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €7,468 | €10,788 | +€3,320 | +44.5% |
| Income taxes | 67/77 | - | €2,095 | +€2,095 | |
| Profit (loss) for the period | 9904 | €7,468 | €8,693 | +€1,225 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,468 | €8,693 | +€1,225 | +16.4% |
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 29 October 2026 via checked.be.