E.L.C.: what changed
Two fiscal 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.
E.L.C.
Largest movements
- Cash +€12,838
up €12,838 (+121.3%), from €10,580 to €23,419
mainly Net result for the year (+€46,212) and Trade debts (+€20,300)
- Deferred charges and accrued income +€12,000
up €12,000 (+120.0%), from €10,000 to €22,000
- Receivables within one year +€9,481
up €9,481 (+34.1%), from €27,839 to €37,320
of which Trade receivables: +€11,338
- Tangible fixed assets -€9,194
down €9,194 (-2.3%), from €405,448 to €396,254
of which Land and buildings: -€6,394
- Reserves +€46,212
up €46,212 (+34.7%), from €133,312 to €179,524
- Other debts -€33,909
down €33,909 (-73.5%), from €46,137 to €12,228
- Trade debts +€20,300
up €20,300 (+714.4%), from €2,841 to €23,141
- Debts after one year -€8,033
down €8,033 (-3.7%), from €214,500 to €206,467
- Gross operating margin +€45,842
up €45,842 (+132.0%), from €34,724 to €80,566
- Depreciation -€31,108
down €31,108 (-77.2%), from €40,302 to €9,194
- Taxes +€7,525
new in 2025: €7,525
- Financial charges -€1,001
down €1,001 (-9.5%), from €10,571 to €9,570
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 | €454,107 | €479,233 | +€25,126 | +5.5% |
| Fixed assets | 21/28 | €405,688 | €396,494 | -€9,194 | -2.3% |
| Tangible fixed assets | 22/27 | €405,448 | €396,254 | -€9,194 | -2.3% |
| Land and buildings | 22 | €283,114 | €276,721 | -€6,394 | -2.3% |
| Plant, machinery and equipment | 23 | €11,333 | €8,533 | -€2,800 | -24.7% |
| Other tangible fixed assets | 26 | €111,000 | €111,000 | = | 0.0% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €48,419 | €82,739 | +€34,320 | +70.9% |
| Amounts receivable within one year | 40/41 | €27,839 | €37,320 | +€9,481 | +34.1% |
| Trade receivables | 40 | - | €11,338 | +€11,338 | |
| Other amounts receivable | 41 | €27,839 | €25,982 | -€1,857 | -6.7% |
| Cash at bank and in hand | 54/58 | €10,580 | €23,419 | +€12,838 | +121.3% |
| Deferred charges and accrued income | 490/1 | €10,000 | €22,000 | +€12,000 | +120.0% |
| Total equity and liabilities | 10/49 | €454,107 | €479,233 | +€25,126 | +5.5% |
| Equity | 10/15 | €182,890 | €229,103 | +€46,212 | +25.3% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €133,312 | €179,524 | +€46,212 | +34.7% |
| Distributable reserves | 133 | €133,312 | €179,524 | +€46,212 | +34.7% |
| Amounts payable | 17/49 | €271,217 | €250,130 | -€21,087 | -7.8% |
| Amounts payable after more than one year | 17 | €214,500 | €206,467 | -€8,033 | -3.7% |
| Financial debts | 170/4 | €214,500 | €206,467 | -€8,033 | -3.7% |
| Amounts payable within one year | 42/48 | €56,717 | €43,663 | -€13,053 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €7,738 | €8,033 | +€295 | +3.8% |
| Financial debts | 43 | - | €260 | +€260 | |
| Credit institutions | 430/8 | - | €260 | +€260 | |
| Trade debts | 44 | €2,841 | €23,141 | +€20,300 | +714.4% |
| Suppliers | 440/4 | €2,841 | €23,141 | +€20,300 | +714.4% |
| Other amounts payable | 47/48 | €46,137 | €12,228 | -€33,909 | -73.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,302 | €9,194 | -€31,108 | -77.2% |
| Other operating charges | 640/8 | €7,490 | €8,065 | +€575 | +7.7% |
| Gross operating margin | 9900 | €34,724 | €80,566 | +€45,842 | +132.0% |
| Operating profit (loss) | 9901 | -€13,068 | €63,307 | +€76,375 | |
| Financial charges | 65/66B | €10,571 | €9,570 | -€1,001 | -9.5% |
| Recurring financial charges | 65 | €10,571 | €9,570 | -€1,001 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,639 | €53,737 | +€77,376 | |
| Income taxes | 67/77 | - | €7,525 | +€7,525 | |
| Profit (loss) for the period | 9904 | -€23,639 | €46,212 | +€69,851 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,639 | €46,212 | +€69,851 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.