ESTILO: 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.
ESTILO
Largest movements
- Receivables within one year +€18,886
up €18,886 (+63.4%), from €29,768 to €48,653
of which Other amounts receivable: +€15,231
- Tangible fixed assets -€10,697
down €10,697 (-48.2%), from €22,214 to €11,517
of which Other tangible fixed assets: -€5,934
- Cash +€9,955
up €9,955 (+25.8%), from €38,531 to €48,486
mainly Net result for the year (+€14,095) and Depreciation (+€10,697)
- Profit (loss) carried forward +€14,095
up €14,095 (+2662.9%), from €529 to €14,624
- Tax, wage and social debts +€4,382
up €4,382 (+9.7%), from €45,362 to €49,744
of which Remuneration and social security: +€3,518
- Gross operating margin +€30,491
up €30,491 (+26.1%), from €116,782 to €147,272
- Staff costs +€28,221
up €28,221 (+34.9%), from €80,814 to €109,035
- Financial charges -€7,052
down €7,052 (-72.1%), from €9,776 to €2,724
- Other operating charges +€2,886
up €2,886 (+84.9%), from €3,397 to €6,283
- Taxes +€2,021
up €2,021 (+45.8%), from €4,415 to €6,436
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 | €91,561 | €109,444 | +€17,884 | +19.5% |
| Fixed assets | 21/28 | €22,357 | €11,660 | -€10,697 | -47.8% |
| Tangible fixed assets | 22/27 | €22,214 | €11,517 | -€10,697 | -48.2% |
| Furniture and vehicles | 24 | €10,452 | €5,689 | -€4,763 | -45.6% |
| Other tangible fixed assets | 26 | €11,762 | €5,828 | -€5,934 | -50.4% |
| Financial fixed assets | 28 | €143 | €143 | = | 0.0% |
| Current assets | 29/58 | €69,204 | €97,784 | +€28,581 | +41.3% |
| Stocks and contracts in progress | 3 | €906 | €645 | -€261 | -28.8% |
| Stocks | 30/36 | €906 | €645 | -€261 | -28.8% |
| Amounts receivable within one year | 40/41 | €29,768 | €48,653 | +€18,886 | +63.4% |
| Trade receivables | 40 | - | €3,654 | +€3,654 | |
| Other amounts receivable | 41 | €29,768 | €44,999 | +€15,231 | +51.2% |
| Cash at bank and in hand | 54/58 | €38,531 | €48,486 | +€9,955 | +25.8% |
| Total equity and liabilities | 10/49 | €91,561 | €109,444 | +€17,884 | +19.5% |
| Equity | 10/15 | €20,975 | €35,070 | +€14,095 | +67.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,846 | €1,846 | = | 0.0% |
| Distributable reserves | 133 | €1,846 | €1,846 | = | 0.0% |
| Profit (loss) carried forward | 14 | €529 | €14,624 | +€14,095 | +2662.9% |
| Amounts payable | 17/49 | €70,586 | €74,375 | +€3,789 | +5.4% |
| Amounts payable within one year | 42/48 | €70,586 | €74,375 | +€3,789 | +5.4% |
| Trade debts | 44 | €25,224 | €24,631 | -€593 | -2.4% |
| Suppliers | 440/4 | €25,224 | €24,631 | -€593 | -2.4% |
| Taxes, remuneration and social security | 45 | €45,362 | €49,744 | +€4,382 | +9.7% |
| Taxes | 450/3 | €29,537 | €30,400 | +€863 | +2.9% |
| Remuneration and social security | 454/9 | €15,826 | €19,344 | +€3,518 | +22.2% |
| Remuneration, social security and pensions | 62 | €80,814 | €109,035 | +€28,221 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,237 | €10,697 | +€460 | +4.5% |
| Other operating charges | 640/8 | €3,397 | €6,283 | +€2,886 | +84.9% |
| Gross operating margin | 9900 | €116,782 | €147,272 | +€30,491 | +26.1% |
| Operating profit (loss) | 9901 | €22,333 | €21,258 | -€1,076 | -4.8% |
| Financial income | 75/76B | €974 | €1,997 | +€1,023 | +105.1% |
| Recurring financial income | 75 | €974 | €1,997 | +€1,023 | +105.1% |
| Financial charges | 65/66B | €9,776 | €2,724 | -€7,052 | -72.1% |
| Recurring financial charges | 65 | €9,776 | €2,724 | -€7,052 | -72.1% |
| Profit (loss) for the period before taxes | 9903 | €13,530 | €20,531 | +€7,000 | +51.7% |
| Income taxes | 67/77 | €4,415 | €6,436 | +€2,021 | +45.8% |
| Profit (loss) for the period | 9904 | €9,116 | €14,095 | +€4,979 | +54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,116 | €14,095 | +€4,979 | +54.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.