ESTIMMO: 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.
ESTIMMO
Largest movements
- Receivables after one year +€95,000
new in 2025: €95,000
- Current investments -€78,137
down €78,137 (-17.5%), from €445,367 to €367,230
- Receivables within one year -€76,328
down €76,328 (-52.3%), from €146,060 to €69,732
- Financial fixed assets +€69,930
up €69,930 (+7.4%), from €939,342 to €1.0m
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€15,183
up €15,183 (+2203.6%), from €689 to €15,872
- Gross operating margin +€10,050
up €10,050 (+35.8%), from €28,075 to €38,125
- Financial income +€7,007
up €7,007 (+164.6%), from €4,256 to €11,263
- Other operating charges -€2,179
down €2,179 (-14.5%), from €15,006 to €12,827
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 | €2,414,475 | €2,408,916 | -€5,559 | -0.2% |
| Fixed assets | 21/28 | €1,813,742 | €1,865,434 | +€51,692 | +2.9% |
| Tangible fixed assets | 22/27 | €874,400 | €856,161 | -€18,239 | -2.1% |
| Land and buildings | 22 | €874,400 | €856,161 | -€18,239 | -2.1% |
| Financial fixed assets | 28 | €939,342 | €1,009,272 | +€69,930 | +7.4% |
| Current assets | 29/58 | €600,733 | €543,483 | -€57,250 | -9.5% |
| Amounts receivable after more than one year | 29 | - | €95,000 | +€95,000 | |
| Other amounts receivable | 291 | - | €95,000 | +€95,000 | |
| Amounts receivable within one year | 40/41 | €146,060 | €69,732 | -€76,328 | -52.3% |
| Other amounts receivable | 41 | €146,060 | €69,732 | -€76,328 | -52.3% |
| Current investments | 50/53 | €445,367 | €367,230 | -€78,137 | -17.5% |
| Cash at bank and in hand | 54/58 | €8,908 | €10,276 | +€1,368 | +15.4% |
| Deferred charges and accrued income | 490/1 | €398 | €1,245 | +€847 | +212.7% |
| Total equity and liabilities | 10/49 | €2,414,475 | €2,408,916 | -€5,559 | -0.2% |
| Equity | 10/15 | €596,784 | €598,510 | +€1,726 | +0.3% |
| Contributions | 10/11 | €425,704 | €425,704 | +€0 | 0.0% |
| Capital | 10 | €425,704 | €425,704 | +€0 | 0.0% |
| Issued capital | 100 | €425,704 | €425,704 | +€0 | 0.0% |
| Reserves | 13 | €160,504 | €160,505 | +€1 | 0.0% |
| Non-distributable reserves | 130/1 | €103,917 | €103,917 | +€0 | 0.0% |
| Legal reserve | 130 | €3,986 | €3,986 | +€0 | 0.0% |
| Own shares acquired | 1312 | €99,931 | €99,931 | +€0 | 0.0% |
| Distributable reserves | 133 | €56,587 | €56,587 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €10,576 | €12,301 | +€1,725 | +16.3% |
| Amounts payable | 17/49 | €1,817,691 | €1,810,406 | -€7,285 | -0.4% |
| Amounts payable after more than one year | 17 | €1,710,291 | €1,689,341 | -€20,950 | -1.2% |
| Other amounts payable | 178/9 | €1,710,291 | €1,689,341 | -€20,950 | -1.2% |
| Amounts payable within one year | 42/48 | €106,750 | €106,750 | = | 0.0% |
| Other amounts payable | 47/48 | €106,750 | €106,750 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €650 | €14,315 | +€13,665 | +2102.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,566 | €18,240 | -€326 | -1.8% |
| Other operating charges | 640/8 | €15,006 | €12,827 | -€2,179 | -14.5% |
| Gross operating margin | 9900 | €28,075 | €38,125 | +€10,050 | +35.8% |
| Operating profit (loss) | 9901 | -€5,497 | €7,059 | +€12,556 | |
| Financial income | 75/76B | €4,256 | €11,263 | +€7,007 | +164.6% |
| Recurring financial income | 75 | €4,256 | €11,263 | +€7,007 | +164.6% |
| Financial charges | 65/66B | €689 | €15,872 | +€15,183 | +2203.6% |
| Recurring financial charges | 65 | €689 | €15,872 | +€15,183 | +2203.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,930 | €2,450 | +€4,380 | |
| Income taxes | 67/77 | €890 | €724 | -€166 | -18.6% |
| Profit (loss) for the period | 9904 | -€2,820 | €1,726 | +€4,546 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,820 | €1,726 | +€4,546 |
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 11 October 2026 via checked.be.