ESTRELA CONCEPT: 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.
ESTRELA CONCEPT
Largest movements
- Receivables within one year +€53,396
up €53,396 (+108%), from €49,612 to €103,008
- Tangible fixed assets +€2,058
new in 2025: €2,058
- Profit (loss) carried forward +€35,578
up €35,578 (+70.7%), from €50,334 to €85,913
- Tax, wage and social debts +€15,230
up €15,230 (+74.5%), from €20,442 to €35,672
- Trade debts +€5,569
up €5,569 (+389%), from €1,431 to €7,001
- Gross operating margin -€19,559
down €19,559 (-28.0%), from €69,955 to €50,396
- Taxes -€4,865
down €4,865 (-25.8%), from €18,865 to €14,000
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 | €75,208 | €131,585 | +€56,378 | +75.0% |
| Fixed assets | 21/28 | - | €2,058 | +€2,058 | |
| Tangible fixed assets | 22/27 | - | €2,058 | +€2,058 | |
| Plant, machinery and equipment | 23 | - | €2,058 | +€2,058 | |
| Current assets | 29/58 | €75,208 | €129,528 | +€54,320 | +72.2% |
| Amounts receivable within one year | 40/41 | €49,612 | €103,008 | +€53,396 | +108% |
| Other amounts receivable | 41 | €49,612 | €103,008 | +€53,396 | +108% |
| Cash at bank and in hand | 54/58 | €24,882 | €25,059 | +€177 | +0.7% |
| Deferred charges and accrued income | 490/1 | €713 | €1,461 | +€748 | +105% |
| Total equity and liabilities | 10/49 | €75,208 | €131,585 | +€56,378 | +75.0% |
| Equity | 10/15 | €53,334 | €88,913 | +€35,578 | +66.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,334 | €85,913 | +€35,578 | +70.7% |
| Amounts payable | 17/49 | €21,874 | €42,673 | +€20,799 | +95.1% |
| Amounts payable within one year | 42/48 | €21,874 | €42,673 | +€20,799 | +95.1% |
| Trade debts | 44 | €1,431 | €7,001 | +€5,569 | +389% |
| Suppliers | 440/4 | €1,431 | €7,001 | +€5,569 | +389% |
| Taxes, remuneration and social security | 45 | €20,442 | €35,672 | +€15,230 | +74.5% |
| Taxes | 450/3 | €20,442 | €35,672 | +€15,230 | +74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €13 | +€13 | |
| Other operating charges | 640/8 | €699 | €750 | +€51 | +7.3% |
| Gross operating margin | 9900 | €69,955 | €50,396 | -€19,559 | -28.0% |
| Operating profit (loss) | 9901 | €69,256 | €49,632 | -€19,623 | -28.3% |
| Financial charges | 65/66B | €56 | €54 | -€2 | -3.9% |
| Recurring financial charges | 65 | €56 | €54 | -€2 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €69,200 | €49,578 | -€19,621 | -28.4% |
| Income taxes | 67/77 | €18,865 | €14,000 | -€4,865 | -25.8% |
| Profit (loss) for the period | 9904 | €50,334 | €35,578 | -€14,756 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,334 | €35,578 | -€14,756 | -29.3% |
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 16 October 2026 via checked.be.