Esthemey: 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.
Esthemey
Largest movements
- Cash -€266,551
down €266,551 (-32.2%), from €826,653 to €560,102
mainly Contributions, distributions and other (-€636,125) and Current investments (-€61,646)
- Current investments +€61,646
up €61,646 (+11.3%), from €547,689 to €609,335
- Deferred charges and accrued income -€58,203
down €58,203 (-15.8%), from €367,734 to €309,531
- Tangible fixed assets -€22,390
down €22,390 (-28.2%), from €79,342 to €56,952
of which Furniture and vehicles: -€18,856
- Receivables within one year +€20,446
up €20,446 (+235%), from €8,687 to €29,133
of which Other amounts receivable: +€20,440
- Reserves -€286,238
down €286,238 (-16.7%), from €1.7m to €1.4m
- Provisions +€23,239
up €23,239 (+20.6%), from €113,065 to €136,304
- Gross operating margin -€146,727
down €146,727 (-17.2%), from €850,888 to €704,161
- Financial charges +€123,149
up €123,149 (+4,279%), from €2,878 to €126,027
- Provisions -€89,826
down €89,826 (-79.4%), from €113,065 to €23,239
- Depreciation -€81,500
down €81,500 (-78.4%), from €103,890 to €22,390
- Taxes -€10,046
down €10,046 (-4.8%), from €208,570 to €198,523
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 | €1,834,754 | €1,568,773 | -€265,981 | -14.5% |
| Fixed assets | 21/28 | €83,992 | €60,672 | -€23,320 | -27.8% |
| Tangible fixed assets | 22/27 | €79,342 | €56,952 | -€22,390 | -28.2% |
| Furniture and vehicles | 24 | €63,983 | €45,127 | -€18,856 | -29.5% |
| Other tangible fixed assets | 26 | €15,359 | €11,824 | -€3,534 | -23.0% |
| Financial fixed assets | 28 | €4,650 | €3,720 | -€930 | -20.0% |
| Current assets | 29/58 | €1,750,763 | €1,508,102 | -€242,661 | -13.9% |
| Amounts receivable within one year | 40/41 | €8,687 | €29,133 | +€20,446 | +235% |
| Trade receivables | 40 | €4 | €10 | +€6 | +150% |
| Other amounts receivable | 41 | €8,683 | €29,123 | +€20,440 | +235% |
| Current investments | 50/53 | €547,689 | €609,335 | +€61,646 | +11.3% |
| Cash at bank and in hand | 54/58 | €826,653 | €560,102 | -€266,551 | -32.2% |
| Deferred charges and accrued income | 490/1 | €367,734 | €309,531 | -€58,203 | -15.8% |
| Total equity and liabilities | 10/49 | €1,834,754 | €1,568,773 | -€265,981 | -14.5% |
| Equity | 10/15 | €1,712,141 | €1,425,903 | -€286,238 | -16.7% |
| Reserves | 13 | €1,712,141 | €1,425,903 | -€286,238 | -16.7% |
| Distributable reserves | 133 | €1,712,141 | €1,425,903 | -€286,238 | -16.7% |
| Provisions and deferred taxes | 16 | €113,065 | €136,304 | +€23,239 | +20.6% |
| Provisions for liabilities and charges | 160/5 | €113,065 | €136,304 | +€23,239 | +20.6% |
| Other liabilities and charges | 164/5 | €113,065 | €136,304 | +€23,239 | +20.6% |
| Amounts payable | 17/49 | €9,548 | €6,567 | -€2,982 | -31.2% |
| Amounts payable within one year | 42/48 | €6,874 | €5,358 | -€1,516 | -22.1% |
| Trade debts | 44 | €1,575 | €1,557 | -€18 | -1.1% |
| Suppliers | 440/4 | €1,575 | €1,557 | -€18 | -1.1% |
| Taxes, remuneration and social security | 45 | - | €3,700 | +€3,700 | |
| Taxes | 450/3 | - | €3,700 | +€3,700 | |
| Other amounts payable | 47/48 | €5,299 | €100 | -€5,198 | -98.1% |
| Accrued charges and deferred income | 492/3 | €2,675 | €1,209 | -€1,466 | -54.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,890 | €22,390 | -€81,500 | -78.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €113,065 | €23,239 | -€89,826 | -79.4% |
| Other operating charges | 640/8 | €1,397 | €1,464 | +€67 | +4.8% |
| Gross operating margin | 9900 | €850,888 | €704,161 | -€146,727 | -17.2% |
| Operating profit (loss) | 9901 | €632,537 | €657,068 | +€24,531 | +3.9% |
| Financial income | 75/76B | €26,317 | €17,369 | -€8,948 | -34.0% |
| Recurring financial income | 75 | €26,317 | €17,369 | -€8,948 | -34.0% |
| Financial charges | 65/66B | €2,878 | €126,027 | +€123,149 | +4,279% |
| Recurring financial charges | 65 | €2,878 | €126,027 | +€123,149 | +4,279% |
| Profit (loss) for the period before taxes | 9903 | €655,976 | €548,411 | -€107,565 | -16.4% |
| Income taxes | 67/77 | €208,570 | €198,523 | -€10,046 | -4.8% |
| Profit (loss) for the period | 9904 | €447,406 | €349,887 | -€97,519 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €447,406 | €349,887 | -€97,519 | -21.8% |
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 18 October 2026 via checked.be.