ESTIASI: 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.
ESTIASI
Largest movements
- Intangible fixed assets -€21,664
down €21,664 (-23.1%), from €93,794 to €72,130
- Cash -€18,432
down €18,432 (-23.3%), from €79,222 to €60,790
mainly Other debts (-€95,497) and Stocks and contracts (-€10,750)
- Stocks and contracts +€10,750
up €10,750 (+90.7%), from €11,855 to €22,605
- Tangible fixed assets -€9,827
down €9,827 (-31.1%), from €31,553 to €21,726
- Other debts -€95,497
down €95,497 (-34.1%), from €280,067 to €184,570
- Profit (loss) carried forward +€49,419
up €49,419 (+57.6%), from -€85,779 to -€36,360
- Tax, wage and social debts +€4,594
up €4,594 (+34.6%), from €13,262 to €17,856
of which Remuneration and social security: +€3,495
- Trade debts +€2,409
up €2,409 (+22.3%), from €10,816 to €13,225
- Gross operating margin +€70,736
up €70,736 (+42.0%), from €168,394 to €239,130
- Staff costs +€70,008
up €70,008 (+94.9%), from €73,771 to €143,779
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 | €232,102 | €191,291 | -€40,811 | -17.6% |
| Fixed assets | 21/28 | €139,387 | €107,896 | -€31,491 | -22.6% |
| Intangible fixed assets | 21 | €93,794 | €72,130 | -€21,664 | -23.1% |
| Tangible fixed assets | 22/27 | €31,553 | €21,726 | -€9,827 | -31.1% |
| Plant, machinery and equipment | 23 | €2,813 | €1,632 | -€1,181 | -42.0% |
| Furniture and vehicles | 24 | €7,892 | €3,503 | -€4,389 | -55.6% |
| Other tangible fixed assets | 26 | €20,848 | €16,591 | -€4,257 | -20.4% |
| Financial fixed assets | 28 | €14,040 | €14,040 | = | 0.0% |
| Current assets | 29/58 | €92,715 | €83,395 | -€9,320 | -10.1% |
| Stocks and contracts in progress | 3 | €11,855 | €22,605 | +€10,750 | +90.7% |
| Stocks | 30/36 | €11,855 | €22,605 | +€10,750 | +90.7% |
| Amounts receivable within one year | 40/41 | €1,638 | - | -€1,638 | |
| Trade receivables | 40 | €1,638 | - | -€1,638 | |
| Cash at bank and in hand | 54/58 | €79,222 | €60,790 | -€18,432 | -23.3% |
| Total equity and liabilities | 10/49 | €232,102 | €191,291 | -€40,811 | -17.6% |
| Equity | 10/15 | -€73,779 | -€24,360 | +€49,419 | +67.0% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,779 | -€36,360 | +€49,419 | +57.6% |
| Amounts payable | 17/49 | €305,881 | €215,651 | -€90,230 | -29.5% |
| Amounts payable within one year | 42/48 | €305,881 | €215,651 | -€90,230 | -29.5% |
| Trade debts | 44 | €10,816 | €13,225 | +€2,409 | +22.3% |
| Suppliers | 440/4 | €10,816 | €13,225 | +€2,409 | +22.3% |
| Advances received on contracts in progress | 46 | €1,736 | - | -€1,736 | |
| Taxes, remuneration and social security | 45 | €13,262 | €17,856 | +€4,594 | +34.6% |
| Taxes | 450/3 | €3,426 | €4,525 | +€1,099 | +32.1% |
| Remuneration and social security | 454/9 | €9,836 | €13,331 | +€3,495 | +35.5% |
| Other amounts payable | 47/48 | €280,067 | €184,570 | -€95,497 | -34.1% |
| Remuneration, social security and pensions | 62 | €73,771 | €143,779 | +€70,008 | +94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,810 | €34,386 | +€576 | +1.7% |
| Other operating charges | 640/8 | €7,342 | €6,796 | -€546 | -7.4% |
| Non-recurring operating charges | 66A | €6,122 | - | -€6,122 | |
| Gross operating margin | 9900 | €168,394 | €239,130 | +€70,736 | +42.0% |
| Operating profit (loss) | 9901 | €47,349 | €54,169 | +€6,820 | +14.4% |
| Financial charges | 65/66B | €3,791 | €4,750 | +€959 | +25.3% |
| Recurring financial charges | 65 | €3,791 | €4,750 | +€959 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €43,558 | €49,419 | +€5,861 | +13.5% |
| Profit (loss) for the period | 9904 | €43,558 | €49,419 | +€5,861 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,558 | €49,419 | +€5,861 | +13.5% |
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 15 October 2026 via checked.be.