ESTHECO: 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.
ESTHECO
Largest movements
- Cash +€42,571
up €42,571 (+47.3%), from €89,999 to €132,571
mainly Net result for the year (+€93,274) and Other debts (+€33,212)
- Receivables within one year +€20,810
up €20,810 (+133%), from €15,617 to €36,428
- Profit (loss) carried forward +€43,274
up €43,274 (+45.4%), from €95,360 to €138,634
- Other debts +€33,212
up €33,212 (+44.4%), from €74,863 to €108,075
- Tax, wage and social debts -€16,360
down €16,360 (-59.0%), from €27,719 to €11,359
No income-statement line moved by more than 1% of the activity.
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 | €222,342 | €283,741 | +€61,399 | +27.6% |
| Fixed assets | 21/28 | €15,298 | €13,577 | -€1,720 | -11.2% |
| Tangible fixed assets | 22/27 | €15,298 | €13,577 | -€1,720 | -11.2% |
| Plant, machinery and equipment | 23 | €1,789 | €1,338 | -€450 | -25.2% |
| Other tangible fixed assets | 26 | €13,509 | €12,239 | -€1,270 | -9.4% |
| Current assets | 29/58 | €207,044 | €270,164 | +€63,120 | +30.5% |
| Amounts receivable within one year | 40/41 | €15,617 | €36,428 | +€20,810 | +133% |
| Trade receivables | 40 | €15,617 | €36,428 | +€20,810 | +133% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €89,999 | €132,571 | +€42,571 | +47.3% |
| Deferred charges and accrued income | 490/1 | €1,427 | €1,165 | -€262 | -18.4% |
| Total equity and liabilities | 10/49 | €222,342 | €283,741 | +€61,399 | +27.6% |
| Equity | 10/15 | €117,360 | €160,634 | +€43,274 | +36.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,360 | €138,634 | +€43,274 | +45.4% |
| Amounts payable | 17/49 | €104,982 | €123,107 | +€18,125 | +17.3% |
| Amounts payable within one year | 42/48 | €102,887 | €120,032 | +€17,145 | +16.7% |
| Trade debts | 44 | €305 | €598 | +€293 | +96.0% |
| Suppliers | 440/4 | €305 | €598 | +€293 | +96.0% |
| Taxes, remuneration and social security | 45 | €27,719 | €11,359 | -€16,360 | -59.0% |
| Taxes | 450/3 | €27,719 | €11,359 | -€16,360 | -59.0% |
| Other amounts payable | 47/48 | €74,863 | €108,075 | +€33,212 | +44.4% |
| Accrued charges and deferred income | 492/3 | €2,095 | €3,075 | +€980 | +46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,842 | €2,018 | -€824 | -29.0% |
| Other operating charges | 640/8 | €841 | €863 | +€22 | +2.6% |
| Gross operating margin | 9900 | €124,276 | €124,186 | -€91 | -0.1% |
| Operating profit (loss) | 9901 | €120,593 | €121,305 | +€712 | +0.6% |
| Financial income | 75/76B | €1,249 | €2,142 | +€893 | +71.5% |
| Recurring financial income | 75 | €1,249 | €2,142 | +€893 | +71.5% |
| Financial charges | 65/66B | €3,559 | €4,218 | +€659 | +18.5% |
| Recurring financial charges | 65 | €3,559 | €4,218 | +€659 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €118,283 | €119,229 | +€946 | +0.8% |
| Income taxes | 67/77 | €25,763 | €25,955 | +€192 | +0.7% |
| Profit (loss) for the period | 9904 | €92,520 | €93,274 | +€754 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €92,520 | €93,274 | +€754 | +0.8% |
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 30 October 2026 via checked.be.