ESTICAR: 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.
ESTICAR
Largest movements
- Cash +€114,020
up €114,020 (+5,603%), from €2,035 to €116,054
mainly Receivables within one year (+€64,416) and Net result for the year (+€41,240)
- Receivables within one year -€64,416
down €64,416 (-59.1%), from €108,915 to €44,499
- Tangible fixed assets -€15,311
down €15,311 (-6.8%), from €226,823 to €211,512
- Reserves +€41,240
up €41,240 (+152%), from €27,078 to €68,317
of which Distributable reserves: +€41,240
- Tax, wage and social debts +€33,761
up €33,761 (+141%), from €23,894 to €57,654
- Trade debts -€20,731
down €20,731 (-28.1%), from €73,677 to €52,946
- Debts after one year -€18,269
down €18,269 (-11.7%), from €156,003 to €137,734
- Current portion of long-term debt -€5,071
down €5,071 (-13.9%), from €36,449 to €31,378
- Gross operating margin +€40,531
up €40,531 (+96.4%), from €42,033 to €82,563
- Taxes +€13,932
up €13,932 (+7,247%), from €192 to €14,124
- Other operating charges -€2,140
down €2,140 (-48.3%), from €4,429 to €2,289
- Financial charges +€1,389
up €1,389 (+16.6%), from €8,353 to €9,742
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 | €337,773 | €372,065 | +€34,292 | +10.2% |
| Fixed assets | 21/28 | €226,823 | €211,512 | -€15,311 | -6.8% |
| Tangible fixed assets | 22/27 | €226,823 | €211,512 | -€15,311 | -6.8% |
| Land and buildings | 22 | €226,823 | €211,512 | -€15,311 | -6.8% |
| Current assets | 29/58 | €110,950 | €160,553 | +€49,604 | +44.7% |
| Amounts receivable within one year | 40/41 | €108,915 | €44,499 | -€64,416 | -59.1% |
| Trade receivables | 40 | €108,915 | €44,499 | -€64,416 | -59.1% |
| Cash at bank and in hand | 54/58 | €2,035 | €116,054 | +€114,020 | +5,603% |
| Total equity and liabilities | 10/49 | €337,773 | €372,065 | +€34,292 | +10.2% |
| Equity | 10/15 | €46,898 | €88,138 | +€41,240 | +87.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €27,078 | €68,317 | +€41,240 | +152% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,218 | €66,457 | +€41,240 | +164% |
| Profit (loss) carried forward | 14 | €7,420 | €7,420 | = | 0.0% |
| Amounts payable | 17/49 | €290,875 | €283,928 | -€6,947 | -2.4% |
| Amounts payable after more than one year | 17 | €156,003 | €137,734 | -€18,269 | -11.7% |
| Financial debts | 170/4 | €156,003 | €137,734 | -€18,269 | -11.7% |
| Amounts payable within one year | 42/48 | €134,122 | €144,769 | +€10,647 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €36,449 | €31,378 | -€5,071 | -13.9% |
| Trade debts | 44 | €73,677 | €52,946 | -€20,731 | -28.1% |
| Suppliers | 440/4 | €73,677 | €52,946 | -€20,731 | -28.1% |
| Taxes, remuneration and social security | 45 | €23,894 | €57,654 | +€33,761 | +141% |
| Taxes | 450/3 | €23,894 | €57,654 | +€33,761 | +141% |
| Other amounts payable | 47/48 | €102 | €2,790 | +€2,688 | +2,634% |
| Accrued charges and deferred income | 492/3 | €750 | €1,425 | +€675 | +90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,440 | €15,311 | -€128 | -0.8% |
| Other operating charges | 640/8 | €4,429 | €2,289 | -€2,140 | -48.3% |
| Gross operating margin | 9900 | €42,033 | €82,563 | +€40,531 | +96.4% |
| Operating profit (loss) | 9901 | €22,164 | €64,963 | +€42,799 | +193% |
| Financial income | 75/76B | €2 | €143 | +€141 | +7,410% |
| Recurring financial income | 75 | €2 | €143 | +€141 | +7,410% |
| Financial charges | 65/66B | €8,353 | €9,742 | +€1,389 | +16.6% |
| Recurring financial charges | 65 | €8,353 | €9,742 | +€1,389 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €13,813 | €55,364 | +€41,551 | +301% |
| Income taxes | 67/77 | €192 | €14,124 | +€13,932 | +7,247% |
| Profit (loss) for the period | 9904 | €13,621 | €41,240 | +€27,619 | +203% |
| Profit (loss) for the period to be appropriated | 9905 | €13,621 | €41,240 | +€27,619 | +203% |
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 23 October 2026 via checked.be.