ESTIMA STABLES: 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.
ESTIMA STABLES
Largest movements
- Cash +€2,313
up €2,313 (+71.3%), from €3,243 to €5,556
mainly Trade debts (+€20,791) and Tax, wage and social debts (+€1,172)
- Receivables within one year +€956
up €956 (+17.2%), from €5,545 to €6,500
of which Trade receivables: +€796
- Trade debts +€20,791
up €20,791 (+771%), from €2,695 to €23,486
- Profit (loss) carried forward -€18,542
down €18,542 (-412%), from -€4,505 to -€23,047
- Tax, wage and social debts +€1,172
up €1,172 (+343%), from €342 to €1,514
- Other debts -€1,006
down €1,006 (-3.1%), from €32,517 to €31,511
- Gross operating margin -€13,047
down €13,047 (-535%), from -€2,438 to -€15,485
- Write-downs +€1,000
new in 2025: €1,000
- Depreciation +€264
up €264 (+380%), from €69 to €333
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 | €50,618 | €53,034 | +€2,416 | +4.8% |
| Fixed assets | 21/28 | €931 | €597 | -€333 | -35.8% |
| Tangible fixed assets | 22/27 | €931 | €597 | -€333 | -35.8% |
| Furniture and vehicles | 24 | €931 | €597 | -€333 | -35.8% |
| Current assets | 29/58 | €49,688 | €52,436 | +€2,749 | +5.5% |
| Stocks and contracts in progress | 3 | €40,900 | €40,380 | -€520 | -1.3% |
| Stocks | 30/36 | €40,900 | €40,380 | -€520 | -1.3% |
| Amounts receivable within one year | 40/41 | €5,545 | €6,500 | +€956 | +17.2% |
| Trade receivables | 40 | €5,448 | €6,243 | +€796 | +14.6% |
| Other amounts receivable | 41 | €97 | €257 | +€160 | +164% |
| Cash at bank and in hand | 54/58 | €3,243 | €5,556 | +€2,313 | +71.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €50,618 | €53,034 | +€2,416 | +4.8% |
| Equity | 10/15 | €15,064 | -€3,477 | -€18,542 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €970 | €970 | = | 0.0% |
| Non-distributable reserves | 130/1 | €970 | €970 | = | 0.0% |
| Reserves not available under the articles | 1311 | €970 | €970 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,505 | -€23,047 | -€18,542 | -412% |
| Amounts payable | 17/49 | €35,554 | €56,511 | +€20,958 | +58.9% |
| Amounts payable within one year | 42/48 | €35,554 | €56,511 | +€20,958 | +58.9% |
| Trade debts | 44 | €2,695 | €23,486 | +€20,791 | +771% |
| Suppliers | 440/4 | €2,695 | €23,486 | +€20,791 | +771% |
| Taxes, remuneration and social security | 45 | €342 | €1,514 | +€1,172 | +343% |
| Taxes | 450/3 | €342 | €1,514 | +€1,172 | +343% |
| Other amounts payable | 47/48 | €32,517 | €31,511 | -€1,006 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69 | €333 | +€264 | +380% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,000 | +€1,000 | |
| Other operating charges | 640/8 | €757 | €674 | -€83 | -11.0% |
| Gross operating margin | 9900 | -€2,438 | -€15,485 | -€13,047 | -535% |
| Operating profit (loss) | 9901 | -€3,265 | -€17,493 | -€14,228 | -436% |
| Financial charges | 65/66B | €740 | €757 | +€17 | +2.3% |
| Recurring financial charges | 65 | €740 | €757 | +€17 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,005 | -€18,250 | -€14,245 | -356% |
| Income taxes | 67/77 | €342 | €292 | -€50 | -14.5% |
| Profit (loss) for the period | 9904 | -€4,347 | -€18,542 | -€14,195 | -327% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,347 | -€18,542 | -€14,195 | -327% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.