ESTILO: 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.
ESTILO
Largest movements
- Cash -€24,956
down €24,956 (-19.2%), from €129,764 to €104,808
mainly Debts after one year (-€80,000) and Receivables within one year (-€12,390)
- Receivables within one year +€12,390
up €12,390 (+74.8%), from €16,562 to €28,952
of which Trade receivables: +€12,309
- Tangible fixed assets -€5,609
down €5,609 (-27.2%), from €20,659 to €15,050
of which Furniture and vehicles: -€6,402
- Stocks and contracts +€3,059
up €3,059 (+34.6%), from €8,846 to €11,905
- Debts after one year -€80,000
down €80,000 (-57.1%), from €140,000 to €60,000
of which Other amounts payable: -€65,000
- Profit (loss) carried forward +€44,011
no longer reported in 2025 (was -€44,011)
- Reserves +€11,353
new in 2025: €11,353
of which Distributable reserves: +€10,732
- Tax, wage and social debts +€8,893
up €8,893 (+77.7%), from €11,452 to €20,345
of which Taxes: +€12,893
- Taxes +€11,080
new in 2025: €11,080
- Gross operating margin -€1,736
down €1,736 (-2.3%), from €75,820 to €74,084
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 | €175,831 | €160,714 | -€15,117 | -8.6% |
| Fixed assets | 21/28 | €20,659 | €15,050 | -€5,609 | -27.2% |
| Tangible fixed assets | 22/27 | €20,659 | €15,050 | -€5,609 | -27.2% |
| Plant, machinery and equipment | 23 | €95 | €887 | +€792 | +835.3% |
| Furniture and vehicles | 24 | €20,564 | €14,163 | -€6,402 | -31.1% |
| Current assets | 29/58 | €155,172 | €145,665 | -€9,507 | -6.1% |
| Stocks and contracts in progress | 3 | €8,846 | €11,905 | +€3,059 | +34.6% |
| Stocks | 30/36 | €8,846 | €11,905 | +€3,059 | +34.6% |
| Amounts receivable within one year | 40/41 | €16,562 | €28,952 | +€12,390 | +74.8% |
| Trade receivables | 40 | €15,841 | €28,149 | +€12,309 | +77.7% |
| Other amounts receivable | 41 | €722 | €803 | +€81 | +11.3% |
| Cash at bank and in hand | 54/58 | €129,764 | €104,808 | -€24,956 | -19.2% |
| Total equity and liabilities | 10/49 | €175,831 | €160,714 | -€15,117 | -8.6% |
| Equity | 10/15 | €17,989 | €73,353 | +€55,364 | +307.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | - | €11,353 | +€11,353 | |
| Non-distributable reserves | 130/1 | - | €621 | +€621 | |
| Legal reserve | 130 | - | €621 | +€621 | |
| Distributable reserves | 133 | - | €10,732 | +€10,732 | |
| Profit (loss) carried forward | 14 | -€44,011 | - | +€44,011 | |
| Amounts payable | 17/49 | €157,842 | €87,361 | -€70,480 | -44.7% |
| Amounts payable after more than one year | 17 | €140,000 | €60,000 | -€80,000 | -57.1% |
| Financial debts | 170/4 | €15,000 | - | -€15,000 | |
| Other amounts payable | 178/9 | €125,000 | €60,000 | -€65,000 | -52.0% |
| Amounts payable within one year | 42/48 | €17,842 | €27,361 | +€9,520 | +53.4% |
| Trade debts | 44 | €100 | - | -€100 | |
| Suppliers | 440/4 | €100 | - | -€100 | |
| Taxes, remuneration and social security | 45 | €11,452 | €20,345 | +€8,893 | +77.7% |
| Taxes | 450/3 | €7,452 | €20,345 | +€12,893 | +173.0% |
| Remuneration and social security | 454/9 | €4,000 | - | -€4,000 | |
| Other amounts payable | 47/48 | €6,290 | €7,017 | +€726 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,497 | €6,522 | +€25 | +0.4% |
| Other operating charges | 640/8 | €749 | €770 | +€21 | +2.8% |
| Gross operating margin | 9900 | €75,820 | €74,084 | -€1,736 | -2.3% |
| Operating profit (loss) | 9901 | €68,575 | €66,792 | -€1,783 | -2.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €347 | €349 | +€2 | +0.6% |
| Recurring financial charges | 65 | €347 | €349 | +€2 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €68,229 | €66,444 | -€1,785 | -2.6% |
| Income taxes | 67/77 | - | €11,080 | +€11,080 | |
| Profit (loss) for the period | 9904 | €68,229 | €55,364 | -€12,866 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,229 | €55,364 | -€12,866 | -18.9% |
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 12 October 2026 via checked.be.