L'ESTEREL: 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.
L'ESTEREL
Largest movements
- Receivables after one year -€110,331
down €110,331 (-33.9%), from €325,000 to €214,669
- Tangible fixed assets -€41,599
down €41,599 (-4.4%), from €950,476 to €908,877
of which Land and buildings: -€42,540
- Deferred charges and accrued income +€24,389
up €24,389 (+134%), from €18,247 to €42,636
- Reserves -€458,336
down €458,336 (-50.3%), from €911,574 to €453,238
of which Distributable reserves: -€442,300
- Other debts +€305,260
new in 2025: €305,260
- Tax, wage and social debts +€16,827
up €16,827 (+183%), from €9,180 to €26,007
- Financial income +€3,661
up €3,661 (+27.4%), from €13,353 to €17,014
- Taxes +€2,872
up €2,872 (+20.6%), from €13,954 to €16,827
- Gross operating margin -€1,899
down €1,899 (-2.8%), from €67,045 to €65,146
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 | €1,480,868 | €1,339,025 | -€141,843 | -9.6% |
| Fixed assets | 21/28 | €950,476 | €908,877 | -€41,599 | -4.4% |
| Tangible fixed assets | 22/27 | €950,476 | €908,877 | -€41,599 | -4.4% |
| Land and buildings | 22 | €941,776 | €899,236 | -€42,540 | -4.5% |
| Plant, machinery and equipment | 23 | €8,700 | €9,642 | +€942 | +10.8% |
| Current assets | 29/58 | €530,392 | €430,148 | -€100,244 | -18.9% |
| Amounts receivable after more than one year | 29 | €325,000 | €214,669 | -€110,331 | -33.9% |
| Other amounts receivable | 291 | €325,000 | €214,669 | -€110,331 | -33.9% |
| Amounts receivable within one year | 40/41 | €182,143 | €170,011 | -€12,132 | -6.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €182,143 | €170,011 | -€12,132 | -6.7% |
| Cash at bank and in hand | 54/58 | €5,002 | €2,832 | -€2,170 | -43.4% |
| Deferred charges and accrued income | 490/1 | €18,247 | €42,636 | +€24,389 | +134% |
| Total equity and liabilities | 10/49 | €1,480,868 | €1,339,025 | -€141,843 | -9.6% |
| Equity | 10/15 | €1,340,224 | €881,931 | -€458,293 | -34.2% |
| Contributions | 10/11 | €164,400 | €164,400 | = | 0.0% |
| Capital | 10 | €164,400 | €164,400 | = | 0.0% |
| Issued capital | 100 | €164,400 | €164,400 | = | 0.0% |
| Reserves | 13 | €911,574 | €453,238 | -€458,336 | -50.3% |
| Non-distributable reserves | 130/1 | €16,440 | €16,440 | = | 0.0% |
| Legal reserve | 130 | €16,440 | €16,440 | = | 0.0% |
| Tax-exempt reserves | 132 | €386,334 | €370,298 | -€16,036 | -4.2% |
| Distributable reserves | 133 | €508,800 | €66,500 | -€442,300 | -86.9% |
| Profit (loss) carried forward | 14 | €264,249 | €264,293 | +€43 | 0.0% |
| Provisions and deferred taxes | 16 | €128,791 | €123,446 | -€5,345 | -4.2% |
| Deferred taxes | 168 | €128,791 | €123,446 | -€5,345 | -4.2% |
| Amounts payable | 17/49 | €11,853 | €333,648 | +€321,795 | +2,715% |
| Amounts payable within one year | 42/48 | €9,494 | €332,771 | +€323,277 | +3,405% |
| Trade debts | 44 | €314 | €1,505 | +€1,191 | +379% |
| Suppliers | 440/4 | €314 | €1,505 | +€1,191 | +379% |
| Taxes, remuneration and social security | 45 | €9,180 | €26,007 | +€16,827 | +183% |
| Taxes | 450/3 | €9,180 | €26,007 | +€16,827 | +183% |
| Other amounts payable | 47/48 | - | €305,260 | +€305,260 | |
| Accrued charges and deferred income | 492/3 | €2,359 | €877 | -€1,482 | -62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,810 | €42,548 | -€262 | -0.6% |
| Other operating charges | 640/8 | €10,775 | €10,834 | +€60 | +0.6% |
| Gross operating margin | 9900 | €67,045 | €65,146 | -€1,899 | -2.8% |
| Operating profit (loss) | 9901 | €13,460 | €11,764 | -€1,696 | -12.6% |
| Financial income | 75/76B | €13,353 | €17,014 | +€3,661 | +27.4% |
| Recurring financial income | 75 | €13,353 | €17,014 | +€3,661 | +27.4% |
| Financial charges | 65/66B | €535 | €489 | -€45 | -8.5% |
| Recurring financial charges | 65 | €535 | €489 | -€45 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €26,278 | €28,288 | +€2,010 | +7.6% |
| Transfer from deferred taxes | 780 | €5,345 | €5,345 | = | 0.0% |
| Income taxes | 67/77 | €13,954 | €16,827 | +€2,872 | +20.6% |
| Profit (loss) for the period | 9904 | €17,669 | €16,807 | -€862 | -4.9% |
| Transfer from tax-exempt reserves | 789 | €16,036 | €16,036 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,705 | €32,843 | -€862 | -2.6% |
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 18 October 2026 via checked.be.