DR. CLAES ELKE: what changed
DR. CLAES ELKE
Largest movements
- Cash +€51,902
up €51,902 (+70.9%), from €73,165 to €125,068
mainly Receivables within one year (+€23,222) and Net result for the year (+€22,916)
- Receivables within one year -€23,222
down €23,222 (-54.4%), from €42,672 to €19,449
of which Other amounts receivable: -€14,722
- Tangible fixed assets -€18,694
down €18,694 (-40.7%), from €45,949 to €27,255
of which Furniture and vehicles: -€18,395
- Deferred charges and accrued income +€5,400
up €5,400 (+228%), from €2,368 to €7,769
- Reserves +€23,054
up €23,054 (+16.6%), from €138,620 to €161,673
of which Distributable reserves: +€23,054
- Trade debts -€6,985
down €6,985 (-71.1%), from €9,825 to €2,840
- Depreciation -€853
down €853 (-4.4%), from €19,547 to €18,694
- Gross operating margin -€532
down €532 (-1.0%), from €52,516 to €51,985
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 | €164,155 | €179,541 | +€15,386 | +9.4% |
| Fixed assets | 21/28 | €45,949 | €27,255 | -€18,694 | -40.7% |
| Tangible fixed assets | 22/27 | €45,949 | €27,255 | -€18,694 | -40.7% |
| Land and buildings | 22 | €299 | €0 | -€299 | -100% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €45,650 | €27,255 | -€18,395 | -40.3% |
| Current assets | 29/58 | €118,206 | €152,286 | +€34,080 | +28.8% |
| Amounts receivable within one year | 40/41 | €42,672 | €19,449 | -€23,222 | -54.4% |
| Trade receivables | 40 | €22,617 | €14,117 | -€8,500 | -37.6% |
| Other amounts receivable | 41 | €20,054 | €5,332 | -€14,722 | -73.4% |
| Cash at bank and in hand | 54/58 | €73,165 | €125,068 | +€51,902 | +70.9% |
| Deferred charges and accrued income | 490/1 | €2,368 | €7,769 | +€5,400 | +228% |
| Total equity and liabilities | 10/49 | €164,155 | €179,541 | +€15,386 | +9.4% |
| Equity | 10/15 | €151,172 | €174,073 | +€22,901 | +15.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €138,620 | €161,673 | +€23,054 | +16.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €136,760 | €159,813 | +€23,054 | +16.9% |
| Profit (loss) carried forward | 14 | €152 | €0 | -€152 | -100% |
| Amounts payable | 17/49 | €12,982 | €5,468 | -€7,515 | -57.9% |
| Amounts payable within one year | 42/48 | €12,982 | €5,403 | -€7,580 | -58.4% |
| Trade debts | 44 | €9,825 | €2,840 | -€6,985 | -71.1% |
| Suppliers | 440/4 | €9,825 | €2,840 | -€6,985 | -71.1% |
| Other amounts payable | 47/48 | €3,157 | €2,563 | -€595 | -18.8% |
| Accrued charges and deferred income | 492/3 | - | €65 | +€65 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,547 | €18,694 | -€853 | -4.4% |
| Other operating charges | 640/8 | €608 | €573 | -€36 | -5.9% |
| Gross operating margin | 9900 | €52,516 | €51,985 | -€532 | -1.0% |
| Operating profit (loss) | 9901 | €32,361 | €32,718 | +€357 | +1.1% |
| Financial income | 75/76B | €473 | - | -€473 | |
| Recurring financial income | 75 | €473 | - | -€473 | |
| Financial charges | 65/66B | €221 | €134 | -€87 | -39.3% |
| Recurring financial charges | 65 | €221 | €134 | -€87 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €32,612 | €32,584 | -€29 | -0.1% |
| Income taxes | 67/77 | €9,804 | €9,668 | -€136 | -1.4% |
| Profit (loss) for the period | 9904 | €22,808 | €22,916 | +€108 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,808 | €22,916 | +€108 | +0.5% |
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 3 November 2026 via checked.be.