ESTVIN: 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.
ESTVIN
Largest movements
- Receivables within one year +€6,203
up €6,203 (+36.3%), from €17,078 to €23,281
of which Trade receivables: +€6,848
- Stocks and contracts -€6,113
down €6,113 (-4.7%), from €129,044 to €122,931
- Profit (loss) carried forward -€12,387
down €12,387 (-84.4%), from -€14,668 to -€27,055
- Trade debts +€11,606
up €11,606 (+117%), from €9,923 to €21,529
- Other debts +€5,511
up €5,511 (+29.8%), from €18,465 to €23,976
- Short-term financial debts -€4,366
down €4,366 (-4.4%), from €99,102 to €94,736
- Financial charges -€1,057
down €1,057 (-10.8%), from €9,750 to €8,693
- Gross operating margin -€853
down €853 (-60.4%), from -€1,410 to -€2,263
- Financial income -€552
down €552 (-60.5%), from €913 to €361
- Other operating charges -€439
down €439 (-31.7%), from €1,385 to €946
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 | €152,641 | €153,096 | +€455 | +0.3% |
| Fixed assets | 21/28 | €2,402 | €1,869 | -€533 | -22.2% |
| Tangible fixed assets | 22/27 | €2,402 | €1,869 | -€533 | -22.2% |
| Land and buildings | 22 | €2,402 | €1,869 | -€533 | -22.2% |
| Current assets | 29/58 | €150,239 | €151,227 | +€988 | +0.7% |
| Stocks and contracts in progress | 3 | €129,044 | €122,931 | -€6,113 | -4.7% |
| Stocks | 30/36 | €129,044 | €122,931 | -€6,113 | -4.7% |
| Amounts receivable within one year | 40/41 | €17,078 | €23,281 | +€6,203 | +36.3% |
| Trade receivables | 40 | €16,433 | €23,281 | +€6,848 | +41.7% |
| Other amounts receivable | 41 | €645 | - | -€645 | |
| Cash at bank and in hand | 54/58 | €1,417 | €2,675 | +€1,258 | +88.7% |
| Deferred charges and accrued income | 490/1 | €2,700 | €2,340 | -€360 | -13.3% |
| Total equity and liabilities | 10/49 | €152,641 | €153,096 | +€455 | +0.3% |
| Equity | 10/15 | €13,450 | €1,063 | -€12,387 | -92.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,526 | €9,526 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,667 | €7,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,668 | -€27,055 | -€12,387 | -84.4% |
| Amounts payable | 17/49 | €139,191 | €152,032 | +€12,842 | +9.2% |
| Amounts payable within one year | 42/48 | €139,191 | €152,032 | +€12,842 | +9.2% |
| Financial debts | 43 | €99,102 | €94,736 | -€4,366 | -4.4% |
| Credit institutions | 430/8 | €99,102 | €94,736 | -€4,366 | -4.4% |
| Trade debts | 44 | €9,923 | €21,529 | +€11,606 | +117% |
| Suppliers | 440/4 | €9,923 | €21,529 | +€11,606 | +117% |
| Taxes, remuneration and social security | 45 | €11,701 | €11,792 | +€91 | +0.8% |
| Taxes | 450/3 | €11,701 | €11,792 | +€91 | +0.8% |
| Other amounts payable | 47/48 | €18,465 | €23,976 | +€5,511 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €533 | €533 | = | 0.0% |
| Other operating charges | 640/8 | €1,385 | €946 | -€439 | -31.7% |
| Gross operating margin | 9900 | -€1,410 | -€2,263 | -€853 | -60.4% |
| Operating profit (loss) | 9901 | -€3,328 | -€3,742 | -€413 | -12.4% |
| Financial income | 75/76B | €913 | €361 | -€552 | -60.5% |
| Recurring financial income | 75 | €913 | €361 | -€552 | -60.5% |
| Financial charges | 65/66B | €9,750 | €8,693 | -€1,057 | -10.8% |
| Recurring financial charges | 65 | €9,750 | €8,693 | -€1,057 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | -€12,165 | -€12,074 | +€91 | +0.7% |
| Income taxes | 67/77 | €323 | €313 | -€10 | -3.2% |
| Profit (loss) for the period | 9904 | -€12,488 | -€12,387 | +€101 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,488 | -€12,387 | +€101 | +0.8% |
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 29 October 2026 via checked.be.