ESTRELA DO MAR: 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.
ESTRELA DO MAR
Largest movements
- Cash -€13,903
down €13,903 (-44.7%), from €31,097 to €17,194
- Receivables within one year +€8,259
up €8,259 (+1916.2%), from €431 to €8,690
of which Trade receivables: +€8,690
- Tangible fixed assets -€1,049
no longer reported in 2025 (was €1,049)
- Profit (loss) carried forward -€7,708
down €7,708 (-91.8%), from €8,398 to €690
- Trade debts +€2,897
up €2,897 (+108.8%), from €2,662 to €5,559
- Tax, wage and social debts -€1,882
no longer reported in 2025 (was €1,882)
- Turnover +€22,707
up €22,707 (+141.9%), from €16,007 to €38,714
- Purchases and services +€17,075
up €17,075 (+110.5%), from €15,457 to €32,532
- Gross operating margin +€5,632
up €5,632 (+1024.0%), from €550 to €6,182
- Depreciation -€2,825
no longer reported in 2025 (was €2,825)
- Other operating charges +€966
up €966 (+145.7%), from €663 to €1,629
From the 2021 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,542 | €29,849 | -€6,693 | -18.3% |
| Fixed assets | 21/28 | €5,014 | €3,965 | -€1,049 | -20.9% |
| Tangible fixed assets | 22/27 | €1,049 | - | -€1,049 | |
| Plant, machinery and equipment | 23 | €1,049 | - | -€1,049 | |
| Financial fixed assets | 28 | €3,965 | €3,965 | = | 0.0% |
| Current assets | 29/58 | €31,528 | €25,884 | -€5,644 | -17.9% |
| Amounts receivable within one year | 40/41 | €431 | €8,690 | +€8,259 | +1916.2% |
| Trade receivables | 40 | - | €8,690 | +€8,690 | |
| Other amounts receivable | 41 | €431 | - | -€431 | |
| Cash at bank and in hand | 54/58 | €31,097 | €17,194 | -€13,903 | -44.7% |
| Total equity and liabilities | 10/49 | €36,542 | €29,849 | -€6,693 | -18.3% |
| Equity | 10/15 | €31,998 | €24,290 | -€7,708 | -24.1% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Capital | 10 | €500 | - | -€500 | |
| Issued capital | 100 | €500 | - | -€500 | |
| Reserves | 13 | €23,100 | €23,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Legal reserve | 130 | €50 | - | -€50 | |
| Reserves not available under the articles | 1311 | - | €50 | +€50 | |
| Distributable reserves | 133 | €23,050 | €23,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,398 | €690 | -€7,708 | -91.8% |
| Amounts payable | 17/49 | €4,544 | €5,559 | +€1,015 | +22.3% |
| Amounts payable within one year | 42/48 | €4,544 | €5,559 | +€1,015 | +22.3% |
| Trade debts | 44 | €2,662 | €5,559 | +€2,897 | +108.8% |
| Suppliers | 440/4 | €2,662 | €5,559 | +€2,897 | +108.8% |
| Taxes, remuneration and social security | 45 | €1,882 | - | -€1,882 | |
| Taxes | 450/3 | €1,882 | - | -€1,882 | |
| Turnover | 70 | €16,007 | €38,714 | +€22,707 | +141.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €15,457 | €32,532 | +€17,075 | +110.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,825 | - | -€2,825 | |
| Other operating charges | 640/8 | €663 | €1,629 | +€966 | +145.7% |
| Gross operating margin | 9900 | €550 | €6,182 | +€5,632 | +1024.0% |
| Operating profit (loss) | 9901 | -€2,938 | €4,553 | +€7,491 | |
| Profit (loss) for the period before taxes | 9903 | -€2,938 | €4,553 | +€7,491 | |
| Profit (loss) for the period | 9904 | -€2,938 | €4,553 | +€7,491 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,938 | €4,553 | +€7,491 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 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.