E.L.I.A.S.: 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.
E.L.I.A.S.
Largest movements
- Cash +€78,453
up €78,453 (+57.4%), from €136,795 to €215,247
mainly Net result for the year (+€213,830) and Depreciation (+€29,057)
- Tangible fixed assets +€47,314
up €47,314 (+11.0%), from €431,780 to €479,094
of which Land and buildings: +€49,148
- Reserves +€186,830
up €186,830 (+16.9%), from €1.1m to €1.3m
of which Distributable reserves: +€102,630
- Debts after one year -€29,817
down €29,817 (-10.8%), from €277,205 to €247,388
- Financial income -€334,280
down €334,280 (-82.1%), from €407,045 to €72,765
- Gross operating margin +€37,879
up €37,879 (+17.4%), from €217,359 to €255,238
- Depreciation +€8,529
up €8,529 (+41.5%), from €20,529 to €29,057
- Taxes +€7,789
up €7,789 (+13.2%), from €59,227 to €67,016
- Financial charges +€7,437
up €7,437 (+89.6%), from €8,302 to €15,739
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 | €1,549,002 | €1,696,946 | +€147,943 | +9.6% |
| Fixed assets | 21/28 | €933,355 | €980,669 | +€47,314 | +5.1% |
| Tangible fixed assets | 22/27 | €431,780 | €479,094 | +€47,314 | +11.0% |
| Land and buildings | 22 | €420,953 | €470,101 | +€49,148 | +11.7% |
| Plant, machinery and equipment | 23 | €10,586 | €7,926 | -€2,660 | -25.1% |
| Furniture and vehicles | 24 | €241 | €1,066 | +€825 | +342% |
| Financial fixed assets | 28 | €501,575 | €501,575 | = | 0.0% |
| Current assets | 29/58 | €615,648 | €716,277 | +€100,629 | +16.3% |
| Amounts receivable within one year | 40/41 | €17,187 | €32,035 | +€14,848 | +86.4% |
| Trade receivables | 40 | €3,179 | - | -€3,179 | |
| Other amounts receivable | 41 | €14,008 | €32,035 | +€18,027 | +129% |
| Current investments | 50/53 | €461,666 | €461,049 | -€616 | -0.1% |
| Cash at bank and in hand | 54/58 | €136,795 | €215,247 | +€78,453 | +57.4% |
| Deferred charges and accrued income | 490/1 | - | €7,945 | +€7,945 | |
| Total equity and liabilities | 10/49 | €1,549,002 | €1,696,946 | +€147,943 | +9.6% |
| Equity | 10/15 | €1,216,939 | €1,403,769 | +€186,830 | +15.4% |
| Contributions | 10/11 | €112,528 | €112,528 | = | 0.0% |
| Reserves | 13 | €1,104,411 | €1,291,241 | +€186,830 | +16.9% |
| Tax-exempt reserves | 132 | - | €84,200 | +€84,200 | |
| Distributable reserves | 133 | €1,104,411 | €1,207,041 | +€102,630 | +9.3% |
| Amounts payable | 17/49 | €332,063 | €293,177 | -€38,887 | -11.7% |
| Amounts payable after more than one year | 17 | €277,205 | €247,388 | -€29,817 | -10.8% |
| Financial debts | 170/4 | €277,205 | €247,388 | -€29,817 | -10.8% |
| Amounts payable within one year | 42/48 | €54,858 | €45,788 | -€9,070 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €38,419 | €29,817 | -€8,602 | -22.4% |
| Trade debts | 44 | €1,550 | €2,426 | +€875 | +56.5% |
| Suppliers | 440/4 | €1,550 | €2,426 | +€875 | +56.5% |
| Taxes, remuneration and social security | 45 | €13,536 | €12,963 | -€573 | -4.2% |
| Taxes | 450/3 | €13,536 | €12,963 | -€573 | -4.2% |
| Other amounts payable | 47/48 | €1,353 | €583 | -€771 | -56.9% |
| Remuneration, social security and pensions | 62 | €611 | €350 | -€261 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,529 | €29,057 | +€8,529 | +41.5% |
| Other operating charges | 640/8 | €2,378 | €2,010 | -€368 | -15.5% |
| Gross operating margin | 9900 | €217,359 | €255,238 | +€37,879 | +17.4% |
| Operating profit (loss) | 9901 | €193,841 | €223,821 | +€29,979 | +15.5% |
| Financial income | 75/76B | €407,045 | €72,765 | -€334,280 | -82.1% |
| Recurring financial income | 75 | €407,045 | €72,765 | -€334,280 | -82.1% |
| Financial charges | 65/66B | €8,302 | €15,739 | +€7,437 | +89.6% |
| Recurring financial charges | 65 | €8,302 | €15,739 | +€7,437 | +89.6% |
| Profit (loss) for the period before taxes | 9903 | €592,584 | €280,846 | -€311,737 | -52.6% |
| Income taxes | 67/77 | €59,227 | €67,016 | +€7,789 | +13.2% |
| Profit (loss) for the period | 9904 | €533,357 | €213,830 | -€319,527 | -59.9% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €533,357 | €129,630 | -€403,727 | -75.7% |
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 22 October 2026 via checked.be.