R&S ESTELIA: what changed
R&S ESTELIA
Largest movements
- Tangible fixed assets -€6,632
no longer reported in 2025 (was €6,632)
- Stocks and contracts -€1,468
no longer reported in 2025 (was €1,468)
- Receivables within one year +€191
new in 2025: €191
- Cash -€124
down €124 (-32.5%), from €382 to €257
mainly Other debts (-€3,681) and Net result for the year (-€2,823)
- Other debts -€3,681
down €3,681 (-18.8%), from €19,587 to €15,906
- Profit (loss) carried forward -€2,823
down €2,823 (-17.9%), from -€15,746 to -€18,569
- Trade debts -€1,604
down €1,604 (-99.0%), from €1,621 to €16
- Depreciation -€3,400
no longer reported in 2025 (was €3,400)
- Other operating charges -€212
down €212 (-49.0%), from €432 to €220
- Gross operating margin +€135
up €135 (+14.0%), from -€966 to -€831
- Financial charges -€14
down €14 (-8.9%), from €154 to €140
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,482 | €449 | -€8,033 | -94.7% |
| Fixed assets | 21/28 | €6,632 | - | -€6,632 | |
| Tangible fixed assets | 22/27 | €6,632 | - | -€6,632 | |
| Plant, machinery and equipment | 23 | €6,632 | - | -€6,632 | |
| Current assets | 29/58 | €1,850 | €449 | -€1,401 | -75.7% |
| Stocks and contracts in progress | 3 | €1,468 | - | -€1,468 | |
| Stocks | 30/36 | €1,468 | - | -€1,468 | |
| Amounts receivable within one year | 40/41 | - | €191 | +€191 | |
| Other amounts receivable | 41 | - | €191 | +€191 | |
| Cash at bank and in hand | 54/58 | €382 | €257 | -€124 | -32.5% |
| Total equity and liabilities | 10/49 | €8,482 | €449 | -€8,033 | -94.7% |
| Equity | 10/15 | -€12,746 | -€15,569 | -€2,823 | -22.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,746 | -€18,569 | -€2,823 | -17.9% |
| Amounts payable | 17/49 | €21,228 | €16,018 | -€5,210 | -24.5% |
| Amounts payable within one year | 42/48 | €21,228 | €16,018 | -€5,210 | -24.5% |
| Trade debts | 44 | €1,621 | €16 | -€1,604 | -99.0% |
| Suppliers | 440/4 | €1,621 | €16 | -€1,604 | -99.0% |
| Taxes, remuneration and social security | 45 | €20 | €95 | +€75 | +378% |
| Taxes | 450/3 | €20 | €95 | +€75 | +378% |
| Other amounts payable | 47/48 | €19,587 | €15,906 | -€3,681 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,400 | - | -€3,400 | |
| Other operating charges | 640/8 | €432 | €220 | -€212 | -49.0% |
| Non-recurring operating charges | 66A | - | €1,632 | +€1,632 | |
| Gross operating margin | 9900 | -€966 | -€831 | +€135 | +14.0% |
| Operating profit (loss) | 9901 | -€4,798 | -€2,683 | +€2,115 | +44.1% |
| Financial charges | 65/66B | €154 | €140 | -€14 | -8.9% |
| Recurring financial charges | 65 | €154 | €140 | -€14 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,952 | -€2,823 | +€2,128 | +43.0% |
| Profit (loss) for the period | 9904 | -€4,952 | -€2,823 | +€2,128 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,952 | -€2,823 | +€2,128 | +43.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.