1elevation: 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.
1elevation
Largest movements
- Tangible fixed assets -€5,867
down €5,867 (-5.5%), from €107,086 to €101,219
of which Land and buildings: -€3,788
- Trade debts +€49,393
up €49,393 (+69.8%), from €70,780 to €120,173
- Tax, wage and social debts -€41,602
down €41,602 (-89.9%), from €46,295 to €4,693
- Profit (loss) carried forward -€15,694
down €15,694 (-6.4%), from €246,807 to €231,113
- Gross operating margin -€83,794
down €83,794, from €78,903 to -€4,891
- Taxes -€17,396
no longer reported in 2025 (was €17,396)
- Depreciation -€2,297
down €2,297 (-27.5%), from €8,344 to €6,047
- Other operating charges +€1,420
up €1,420 (+134.6%), from €1,055 to €2,475
- Financial charges +€1,009
up €1,009 (+79.3%), from €1,272 to €2,281
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €550,392 | €543,496 | -€6,896 | -1.3% |
| Fixed assets | 21/28 | €110,761 | €104,714 | -€6,047 | -5.5% |
| Intangible fixed assets | 21 | €900 | €720 | -€180 | -20.0% |
| Tangible fixed assets | 22/27 | €107,086 | €101,219 | -€5,867 | -5.5% |
| Land and buildings | 22 | €102,273 | €98,485 | -€3,788 | -3.7% |
| Plant, machinery and equipment | 23 | €4,139 | €2,229 | -€1,910 | -46.2% |
| Furniture and vehicles | 24 | €674 | €505 | -€168 | -25.0% |
| Financial fixed assets | 28 | €2,775 | €2,775 | = | 0.0% |
| Current assets | 29/58 | €439,631 | €438,782 | -€849 | -0.2% |
| Amounts receivable within one year | 40/41 | €439,631 | €438,782 | -€849 | -0.2% |
| Trade receivables | 40 | €49,125 | €45,712 | -€3,412 | -6.9% |
| Other amounts receivable | 41 | €390,506 | €393,070 | +€2,564 | +0.7% |
| Total equity and liabilities | 10/49 | €550,392 | €543,496 | -€6,896 | -1.3% |
| Equity | 10/15 | €426,015 | €410,321 | -€15,694 | -3.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €149,207 | €149,207 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,040 | €5,040 | = | 0.0% |
| Distributable reserves | 133 | €141,167 | €141,167 | = | 0.0% |
| Profit (loss) carried forward | 14 | €246,807 | €231,113 | -€15,694 | -6.4% |
| Amounts payable | 17/49 | €124,377 | €133,175 | +€8,798 | +7.1% |
| Amounts payable within one year | 42/48 | €124,377 | €133,175 | +€8,798 | +7.1% |
| Financial debts | 43 | €7,301 | €8,309 | +€1,008 | +13.8% |
| Credit institutions | 430/8 | €7,301 | €8,309 | +€1,008 | +13.8% |
| Trade debts | 44 | €70,780 | €120,173 | +€49,393 | +69.8% |
| Suppliers | 440/4 | €70,780 | €120,173 | +€49,393 | +69.8% |
| Taxes, remuneration and social security | 45 | €46,295 | €4,693 | -€41,602 | -89.9% |
| Taxes | 450/3 | €46,295 | €4,693 | -€41,602 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,344 | €6,047 | -€2,297 | -27.5% |
| Other operating charges | 640/8 | €1,055 | €2,475 | +€1,420 | +134.6% |
| Gross operating margin | 9900 | €78,903 | -€4,891 | -€83,794 | |
| Operating profit (loss) | 9901 | €69,504 | -€13,413 | -€82,917 | |
| Financial charges | 65/66B | €1,272 | €2,281 | +€1,009 | +79.3% |
| Recurring financial charges | 65 | €1,272 | €2,281 | +€1,009 | +79.3% |
| Profit (loss) for the period before taxes | 9903 | €68,232 | -€15,694 | -€83,926 | |
| Income taxes | 67/77 | €17,396 | - | -€17,396 | |
| Profit (loss) for the period | 9904 | €50,836 | -€15,694 | -€66,530 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,836 | -€15,694 | -€66,530 |
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 9 October 2026 via checked.be.