ESTIENO: 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.
ESTIENO
Largest movements
- Cash -€147,835
down €147,835 (-53.4%), from €276,936 to €129,102
mainly Investment in fixed assets (net) (-€138,274) and Stocks and contracts (-€82,015)
- Stocks and contracts +€82,015
up €82,015 (+101.9%), from €80,481 to €162,496
- Receivables within one year +€75,036
up €75,036 (+6.3%), from €1.2m to €1.3m
of which Other amounts receivable: +€75,338
- Deferred charges and accrued income +€45,864
up €45,864 (+50.7%), from €90,444 to €136,308
- Financial fixed assets +€45,500
up €45,500 (+14.0%), from €325,404 to €370,904
- Short-term financial debts +€109,241
up €109,241 (+25.5%), from €427,824 to €537,065
- Reserves +€73,279
up €73,279 (+9.3%), from €784,896 to €858,175
of which Distributable reserves: +€77,484
- Trade debts -€63,907
down €63,907 (-81.1%), from €78,781 to €14,874
- Debts after one year -€47,805
down €47,805 (-3.4%), from €1.4m to €1.4m
- Turnover +€459,213
new in 2025: €459,213
- Purchases and services +€253,944
new in 2025: €253,944
- Financial income +€118,528
up €118,528 (+43692.3%), from €271 to €118,800
of which Financial income: +€61,375
- Financial charges +€72,780
up €72,780 (+124.2%), from €58,589 to €131,369
- Depreciation -€38,381
down €38,381 (-30.6%), from €125,494 to €87,113
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 | €4,012,912 | €4,125,153 | +€112,241 | +2.8% |
| Fixed assets | 21/28 | €2,360,733 | €2,411,893 | +€51,161 | +2.2% |
| Tangible fixed assets | 22/27 | €2,035,329 | €2,040,989 | +€5,661 | +0.3% |
| Land and buildings | 22 | €2,004,599 | €1,946,742 | -€57,857 | -2.9% |
| Plant, machinery and equipment | 23 | €23,533 | €18,793 | -€4,740 | -20.1% |
| Furniture and vehicles | 24 | €7,197 | €75,455 | +€68,257 | +948.4% |
| Financial fixed assets | 28 | €325,404 | €370,904 | +€45,500 | +14.0% |
| Current assets | 29/58 | €1,652,180 | €1,713,260 | +€61,080 | +3.7% |
| Stocks and contracts in progress | 3 | €80,481 | €162,496 | +€82,015 | +101.9% |
| Stocks | 30/36 | €80,481 | €162,496 | +€82,015 | +101.9% |
| Amounts receivable within one year | 40/41 | €1,187,818 | €1,262,854 | +€75,036 | +6.3% |
| Trade receivables | 40 | €88,538 | €88,236 | -€302 | -0.3% |
| Other amounts receivable | 41 | €1,099,280 | €1,174,618 | +€75,338 | +6.9% |
| Current investments | 50/53 | €16,500 | €22,500 | +€6,000 | +36.4% |
| Cash at bank and in hand | 54/58 | €276,936 | €129,102 | -€147,835 | -53.4% |
| Deferred charges and accrued income | 490/1 | €90,444 | €136,308 | +€45,864 | +50.7% |
| Total equity and liabilities | 10/49 | €4,012,912 | €4,125,153 | +€112,241 | +2.8% |
| Equity | 10/15 | €825,807 | €899,086 | +€73,279 | +8.9% |
| Contributions | 10/11 | €40,911 | €40,911 | = | 0.0% |
| Reserves | 13 | €784,896 | €858,175 | +€73,279 | +9.3% |
| Tax-exempt reserves | 132 | €92,496 | €88,292 | -€4,204 | -4.5% |
| Distributable reserves | 133 | €692,400 | €769,883 | +€77,484 | +11.2% |
| Provisions and deferred taxes | 16 | €47,628 | €45,463 | -€2,165 | -4.5% |
| Deferred taxes | 168 | €47,628 | €45,463 | -€2,165 | -4.5% |
| Amounts payable | 17/49 | €3,139,477 | €3,180,603 | +€41,126 | +1.3% |
| Amounts payable after more than one year | 17 | €1,415,410 | €1,367,605 | -€47,805 | -3.4% |
| Financial debts | 170/4 | €1,415,410 | €1,367,605 | -€47,805 | -3.4% |
| Amounts payable within one year | 42/48 | €1,708,890 | €1,797,821 | +€88,932 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €68,095 | €89,431 | +€21,336 | +31.3% |
| Financial debts | 43 | €427,824 | €537,065 | +€109,241 | +25.5% |
| Credit institutions | 430/8 | €427,824 | €537,065 | +€109,241 | +25.5% |
| Trade debts | 44 | €78,781 | €14,874 | -€63,907 | -81.1% |
| Suppliers | 440/4 | €78,781 | €14,874 | -€63,907 | -81.1% |
| Taxes, remuneration and social security | 45 | €6,799 | €9,224 | +€2,424 | +35.7% |
| Taxes | 450/3 | €6,799 | €7,103 | +€303 | +4.5% |
| Remuneration and social security | 454/9 | - | €2,121 | +€2,121 | |
| Other amounts payable | 47/48 | €1,127,391 | €1,147,228 | +€19,838 | +1.8% |
| Accrued charges and deferred income | 492/3 | €15,178 | €15,178 | = | 0.0% |
| Turnover | 70 | - | €459,213 | +€459,213 | |
| Non-recurring operating income | 76A | €16,455 | - | -€16,455 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €253,944 | +€253,944 | |
| Remuneration, social security and pensions | 62 | - | €21,973 | +€21,973 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,494 | €87,113 | -€38,381 | -30.6% |
| Other operating charges | 640/8 | €4,511 | €20,352 | +€15,841 | +351.1% |
| Gross operating margin | 9900 | €251,026 | €236,731 | -€14,295 | -5.7% |
| Operating profit (loss) | 9901 | €121,021 | €107,293 | -€13,728 | -11.3% |
| Financial income | 75/76B | €271 | €118,800 | +€118,528 | +43692.3% |
| Recurring financial income | 75 | €271 | €61,647 | +€61,375 | +22624.4% |
| Non-recurring financial income | 76B | - | €57,153 | +€57,153 | |
| Financial charges | 65/66B | €58,589 | €131,369 | +€72,780 | +124.2% |
| Recurring financial charges | 65 | €58,589 | €131,369 | +€72,780 | +124.2% |
| Profit (loss) for the period before taxes | 9903 | €62,704 | €94,724 | +€32,020 | +51.1% |
| Transfer from deferred taxes | 780 | €2,165 | €2,165 | = | 0.0% |
| Income taxes | 67/77 | €23,890 | €24,946 | +€1,056 | +4.4% |
| Profit (loss) for the period | 9904 | €40,979 | €71,943 | +€30,964 | +75.6% |
| Transfer from tax-exempt reserves | 789 | €4,204 | €4,204 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,183 | €76,147 | +€30,964 | +68.5% |
Source: filed annual accounts (NBB), fiscal years ended 29 June 2024 and 29 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.