ESTIM: 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.
ESTIM
Largest movements
- Cash -€506,136
down €506,136 (-98.9%), from €511,748 to €5,611
mainly Current investments (-€219,081) and Other debts (-€124,367)
- Current investments +€219,081
up €219,081 (+21.9%), from €1.0m to €1.2m
- Receivables within one year +€103,928
up €103,928 (+340.6%), from €30,515 to €134,443
of which Other amounts receivable: +€103,180
- Receivables after one year +€102,711
new in 2025: €102,711
- Other debts -€124,367
down €124,367 (-41.9%), from €297,023 to €172,656
- Reserves +€64,842
up €64,842 (+6.1%), from €1.1m to €1.1m
of which Distributable reserves: +€64,842
- Tax, wage and social debts -€19,843
down €19,843 (-75.4%), from €26,328 to €6,484
- Gross operating margin -€304,154
down €304,154, from €279,370 to -€24,783
- Taxes -€79,162
down €79,162 (-71.4%), from €110,808 to €31,646
- Financial income +€42,998
up €42,998 (+46.2%), from €93,155 to €136,153
- Financial charges +€17,667
up €17,667, from -€6,948 to €10,719
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 | €1,737,503 | €1,657,086 | -€80,417 | -4.6% |
| Fixed assets | 21/28 | €193,230 | €193,230 | = | 0.0% |
| Tangible fixed assets | 22/27 | €193,230 | €193,230 | = | 0.0% |
| Land and buildings | 22 | €193,230 | €193,230 | = | 0.0% |
| Current assets | 29/58 | €1,544,274 | €1,463,856 | -€80,417 | -5.2% |
| Amounts receivable after more than one year | 29 | - | €102,711 | +€102,711 | |
| Other amounts receivable | 291 | - | €102,711 | +€102,711 | |
| Amounts receivable within one year | 40/41 | €30,515 | €134,443 | +€103,928 | +340.6% |
| Trade receivables | 40 | - | €748 | +€748 | |
| Other amounts receivable | 41 | €30,515 | €133,695 | +€103,180 | +338.1% |
| Current investments | 50/53 | €1,002,010 | €1,221,091 | +€219,081 | +21.9% |
| Cash at bank and in hand | 54/58 | €511,748 | €5,611 | -€506,136 | -98.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,737,503 | €1,657,086 | -€80,417 | -4.6% |
| Equity | 10/15 | €1,413,105 | €1,477,946 | +€64,842 | +4.6% |
| Contributions | 10/11 | €347,000 | €347,000 | = | 0.0% |
| Capital | 10 | €347,000 | €347,000 | = | 0.0% |
| Issued capital | 100 | €347,000 | €347,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €1,066,105 | €1,130,946 | +€64,842 | +6.1% |
| Non-distributable reserves | 130/1 | €34,700 | €34,700 | = | 0.0% |
| Legal reserve | 130 | €34,700 | €34,700 | = | 0.0% |
| Distributable reserves | 133 | €1,031,405 | €1,096,246 | +€64,842 | +6.3% |
| Amounts payable | 17/49 | €324,399 | €179,140 | -€145,259 | -44.8% |
| Amounts payable within one year | 42/48 | €323,431 | €179,140 | -€144,291 | -44.6% |
| Trade debts | 44 | €81 | €0 | -€81 | -100.0% |
| Suppliers | 440/4 | €81 | €0 | -€81 | -100.0% |
| Taxes, remuneration and social security | 45 | €26,328 | €6,484 | -€19,843 | -75.4% |
| Taxes | 450/3 | €26,328 | €6,484 | -€19,843 | -75.4% |
| Other amounts payable | 47/48 | €297,023 | €172,656 | -€124,367 | -41.9% |
| Accrued charges and deferred income | 492/3 | €968 | €0 | -€968 | -100.0% |
| Other operating charges | 640/8 | €5,389 | €4,163 | -€1,226 | -22.8% |
| Gross operating margin | 9900 | €279,370 | -€24,783 | -€304,154 | |
| Operating profit (loss) | 9901 | €273,981 | -€28,947 | -€302,927 | |
| Financial income | 75/76B | €93,155 | €136,153 | +€42,998 | +46.2% |
| Recurring financial income | 75 | €93,155 | €136,153 | +€42,998 | +46.2% |
| Financial charges | 65/66B | -€6,948 | €10,719 | +€17,667 | |
| Recurring financial charges | 65 | -€6,948 | €10,719 | +€17,667 | |
| Profit (loss) for the period before taxes | 9903 | €374,084 | €96,487 | -€277,596 | -74.2% |
| Income taxes | 67/77 | €110,808 | €31,646 | -€79,162 | -71.4% |
| Profit (loss) for the period | 9904 | €263,276 | €64,842 | -€198,434 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €263,276 | €64,842 | -€198,434 | -75.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.