ESTETIS: 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.
ESTETIS
Largest movements
- Receivables within one year -€38,428
down €38,428 (-33.9%), from €113,480 to €75,052
of which Other amounts receivable: -€28,082
- Tangible fixed assets -€24,422
down €24,422 (-8.2%), from €299,134 to €274,712
of which Land and buildings: -€18,756
- Reserves -€71,254
down €71,254 (-51.0%), from €139,747 to €68,493
of which Distributable reserves: -€69,394
- Debts after one year -€23,373
down €23,373 (-11.0%), from €212,681 to €189,308
- Trade debts +€10,073
up €10,073 (+78.4%), from €12,854 to €22,926
- Tax, wage and social debts +€8,340
up €8,340 (+18.9%), from €44,072 to €52,412
of which Remuneration and social security: +€32,141
- Short-term financial debts +€6,182
up €6,182 (+105.6%), from €5,856 to €12,038
- Gross operating margin -€58,449
down €58,449 (-67.2%), from €86,933 to €28,484
- Depreciation -€2,322
down €2,322 (-8.6%), from €27,005 to €24,682
- Staff costs +€1,749
up €1,749 (+3.1%), from €55,793 to €57,543
- Financial income -€1,280
down €1,280 (-19.9%), from €6,449 to €5,168
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 | €446,501 | €379,268 | -€67,233 | -15.1% |
| Fixed assets | 21/28 | €303,894 | €279,212 | -€24,682 | -8.1% |
| Intangible fixed assets | 21 | €260 | €0 | -€260 | -100.0% |
| Tangible fixed assets | 22/27 | €299,134 | €274,712 | -€24,422 | -8.2% |
| Land and buildings | 22 | €280,048 | €261,292 | -€18,756 | -6.7% |
| Plant, machinery and equipment | 23 | €9,366 | €6,713 | -€2,653 | -28.3% |
| Furniture and vehicles | 24 | €8,360 | €5,737 | -€2,624 | -31.4% |
| Other tangible fixed assets | 26 | €1,360 | €970 | -€390 | -28.7% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €142,607 | €100,056 | -€42,550 | -29.8% |
| Stocks and contracts in progress | 3 | €15,894 | €12,341 | -€3,552 | -22.4% |
| Stocks | 30/36 | €15,894 | €12,341 | -€3,552 | -22.4% |
| Amounts receivable within one year | 40/41 | €113,480 | €75,052 | -€38,428 | -33.9% |
| Trade receivables | 40 | €10,346 | €0 | -€10,346 | -100.0% |
| Other amounts receivable | 41 | €103,134 | €75,052 | -€28,082 | -27.2% |
| Cash at bank and in hand | 54/58 | €3,207 | €1,326 | -€1,881 | -58.7% |
| Deferred charges and accrued income | 490/1 | €10,026 | €11,337 | +€1,311 | +13.1% |
| Total equity and liabilities | 10/49 | €446,501 | €379,268 | -€67,233 | -15.1% |
| Equity | 10/15 | €145,947 | €74,693 | -€71,254 | -48.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €139,747 | €68,493 | -€71,254 | -51.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €137,887 | €68,493 | -€69,394 | -50.3% |
| Amounts payable | 17/49 | €300,554 | €304,575 | +€4,021 | +1.3% |
| Amounts payable after more than one year | 17 | €212,681 | €189,308 | -€23,373 | -11.0% |
| Financial debts | 170/4 | €212,681 | €189,308 | -€23,373 | -11.0% |
| Amounts payable within one year | 42/48 | €87,005 | €114,298 | +€27,293 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €24,224 | €26,922 | +€2,698 | +11.1% |
| Financial debts | 43 | €5,856 | €12,038 | +€6,182 | +105.6% |
| Credit institutions | 430/8 | €5,856 | €12,038 | +€6,182 | +105.6% |
| Trade debts | 44 | €12,854 | €22,926 | +€10,073 | +78.4% |
| Suppliers | 440/4 | €12,854 | €22,926 | +€10,073 | +78.4% |
| Taxes, remuneration and social security | 45 | €44,072 | €52,412 | +€8,340 | +18.9% |
| Taxes | 450/3 | €36,419 | €12,618 | -€23,801 | -65.4% |
| Remuneration and social security | 454/9 | €7,653 | €39,794 | +€32,141 | +420.0% |
| Accrued charges and deferred income | 492/3 | €869 | €970 | +€100 | +11.6% |
| Remuneration, social security and pensions | 62 | €55,793 | €57,543 | +€1,749 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,005 | €24,682 | -€2,322 | -8.6% |
| Other operating charges | 640/8 | €5,889 | €6,324 | +€435 | +7.4% |
| Gross operating margin | 9900 | €86,933 | €28,484 | -€58,449 | -67.2% |
| Operating profit (loss) | 9901 | -€1,754 | -€60,065 | -€58,311 | -3324.0% |
| Financial income | 75/76B | €6,449 | €5,168 | -€1,280 | -19.9% |
| Recurring financial income | 75 | €6,449 | €5,168 | -€1,280 | -19.9% |
| Financial charges | 65/66B | €16,306 | €15,556 | -€750 | -4.6% |
| Recurring financial charges | 65 | €16,306 | €15,556 | -€750 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,612 | -€70,453 | -€58,841 | -506.7% |
| Income taxes | 67/77 | €796 | €801 | +€5 | +0.6% |
| Profit (loss) for the period | 9904 | -€12,407 | -€71,254 | -€58,846 | -474.3% |
| Transfer from tax-exempt reserves | 789 | €12,407 | - | -€12,407 | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | -€71,254 | -€71,254 |
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 3 October 2026 via checked.be.