S'ESTATE: 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.
S'ESTATE
Largest movements
- Cash +€16,933
up €16,933 (+52.0%), from €32,584 to €49,517
mainly Net result for the year (+€6,636) and Receivables within one year (+€3,451)
- Receivables within one year -€3,451
down €3,451 (-24.6%), from €14,041 to €10,591
of which Trade receivables: -€2,866
- Deferred charges and accrued income -€3,037
down €3,037 (-97.2%), from €3,126 to €89
- Tangible fixed assets -€2,112
down €2,112 (-51.1%), from €4,136 to €2,024
of which Furniture and vehicles: -€1,635
- Profit (loss) carried forward +€6,636
up €6,636 (+152.8%), from €4,343 to €10,979
- Tax, wage and social debts +€1,824
up €1,824 (+44.5%), from €4,100 to €5,924
- Gross operating margin -€18,960
down €18,960 (-58.9%), from €32,192 to €13,232
- Taxes -€1,625
down €1,625 (-41.1%), from €3,951 to €2,326
- Other operating charges -€802
down €802 (-40.2%), from €1,995 to €1,193
- Depreciation -€498
down €498 (-14.9%), from €3,354 to €2,856
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 | €53,888 | €62,221 | +€8,333 | +15.5% |
| Fixed assets | 21/28 | €4,136 | €2,024 | -€2,112 | -51.1% |
| Tangible fixed assets | 22/27 | €4,136 | €2,024 | -€2,112 | -51.1% |
| Plant, machinery and equipment | 23 | €1,329 | €853 | -€477 | -35.8% |
| Furniture and vehicles | 24 | €2,807 | €1,171 | -€1,635 | -58.3% |
| Current assets | 29/58 | €49,751 | €60,196 | +€10,445 | +21.0% |
| Amounts receivable within one year | 40/41 | €14,041 | €10,591 | -€3,451 | -24.6% |
| Trade receivables | 40 | €13,277 | €10,411 | -€2,866 | -21.6% |
| Other amounts receivable | 41 | €764 | €179 | -€585 | -76.5% |
| Cash at bank and in hand | 54/58 | €32,584 | €49,517 | +€16,933 | +52.0% |
| Deferred charges and accrued income | 490/1 | €3,126 | €89 | -€3,037 | -97.2% |
| Total equity and liabilities | 10/49 | €53,888 | €62,221 | +€8,333 | +15.5% |
| Equity | 10/15 | €48,452 | €55,088 | +€6,636 | +13.7% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €37,809 | €37,809 | = | 0.0% |
| Distributable reserves | 133 | €37,809 | €37,809 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,343 | €10,979 | +€6,636 | +152.8% |
| Amounts payable | 17/49 | €5,436 | €7,132 | +€1,696 | +31.2% |
| Amounts payable within one year | 42/48 | €5,436 | €7,132 | +€1,696 | +31.2% |
| Trade debts | 44 | €1,335 | €1,208 | -€127 | -9.5% |
| Suppliers | 440/4 | €1,335 | €1,208 | -€127 | -9.5% |
| Taxes, remuneration and social security | 45 | €4,100 | €5,924 | +€1,824 | +44.5% |
| Taxes | 450/3 | €4,100 | €5,924 | +€1,824 | +44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,354 | €2,856 | -€498 | -14.9% |
| Other operating charges | 640/8 | €1,995 | €1,193 | -€802 | -40.2% |
| Gross operating margin | 9900 | €32,192 | €13,232 | -€18,960 | -58.9% |
| Operating profit (loss) | 9901 | €26,843 | €9,183 | -€17,660 | -65.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €237 | €221 | -€16 | -6.8% |
| Recurring financial charges | 65 | €237 | €221 | -€16 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €26,606 | €8,962 | -€17,644 | -66.3% |
| Income taxes | 67/77 | €3,951 | €2,326 | -€1,625 | -41.1% |
| Profit (loss) for the period | 9904 | €22,656 | €6,636 | -€16,019 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,656 | €6,636 | -€16,019 | -70.7% |
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.