E.L.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.S.
Largest movements
- Receivables within one year +€148,341
up €148,341 (+255%), from €58,159 to €206,500
of which Other amounts receivable: +€193,146
- Cash -€127,767
down €127,767 (-33.2%), from €384,821 to €257,053
mainly Receivables within one year (-€148,341) and Accrued charges and deferred income (-€59,872)
- Deferred charges and accrued income +€48,897
up €48,897 (+151%), from €32,450 to €81,347
- Trade debts +€134,207
new in 2025: €134,207
- Accrued charges and deferred income -€59,872
down €59,872 (-19.8%), from €302,680 to €242,808
- Profit (loss) carried forward +€12,656
new in 2025: €12,656
- Reserves -€7,475
down €7,475 (-6.8%), from €109,820 to €102,345
of which Distributable reserves: -€7,475
- Tax, wage and social debts -€7,160
down €7,160 (-29.8%), from €24,045 to €16,885
- Turnover +€894,339
new in 2025: €894,339
- Purchases and services +€881,385
new in 2025: €881,385
- Gross operating margin -€41,439
down €41,439 (-76.2%), from €54,393 to €12,954
- Taxes -€19,050
no longer reported in 2025 (was €19,050)
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 | €475,429 | €544,901 | +€69,472 | +14.6% |
| Current assets | 29/58 | €475,429 | €544,901 | +€69,472 | +14.6% |
| Amounts receivable within one year | 40/41 | €58,159 | €206,500 | +€148,341 | +255% |
| Trade receivables | 40 | €51,305 | €6,500 | -€44,805 | -87.3% |
| Other amounts receivable | 41 | €6,854 | €200,000 | +€193,146 | +2,818% |
| Cash at bank and in hand | 54/58 | €384,821 | €257,053 | -€127,767 | -33.2% |
| Deferred charges and accrued income | 490/1 | €32,450 | €81,347 | +€48,897 | +151% |
| Total equity and liabilities | 10/49 | €475,429 | €544,901 | +€69,472 | +14.6% |
| Equity | 10/15 | €145,820 | €151,001 | +€5,181 | +3.6% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €109,820 | €102,345 | -€7,475 | -6.8% |
| Tax-exempt reserves | 132 | €150 | €150 | = | 0.0% |
| Distributable reserves | 133 | €109,669 | €102,195 | -€7,475 | -6.8% |
| Profit (loss) carried forward | 14 | - | €12,656 | +€12,656 | |
| Amounts payable | 17/49 | €329,609 | €393,900 | +€64,290 | +19.5% |
| Amounts payable within one year | 42/48 | €26,930 | €151,092 | +€124,163 | +461% |
| Trade debts | 44 | - | €134,207 | +€134,207 | |
| Suppliers | 440/4 | - | €134,207 | +€134,207 | |
| Taxes, remuneration and social security | 45 | €24,045 | €16,885 | -€7,160 | -29.8% |
| Taxes | 450/3 | €24,045 | €16,885 | -€7,160 | -29.8% |
| Other amounts payable | 47/48 | €2,885 | - | -€2,885 | |
| Accrued charges and deferred income | 492/3 | €302,680 | €242,808 | -€59,872 | -19.8% |
| Turnover | 70 | - | €894,339 | +€894,339 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €881,385 | +€881,385 | |
| Other operating charges | 640/8 | €204 | €632 | +€427 | +209% |
| Gross operating margin | 9900 | €54,393 | €12,954 | -€41,439 | -76.2% |
| Operating profit (loss) | 9901 | €54,188 | €12,322 | -€41,866 | -77.3% |
| Financial income | 75/76B | €2,490 | €3,780 | +€1,290 | +51.8% |
| Recurring financial income | 75 | €2,490 | €3,780 | +€1,290 | +51.8% |
| Financial charges | 65/66B | €1,883 | €3,446 | +€1,563 | +83.0% |
| Recurring financial charges | 65 | €1,883 | €3,446 | +€1,563 | +83.0% |
| Profit (loss) for the period before taxes | 9903 | €54,794 | €12,656 | -€42,138 | -76.9% |
| Income taxes | 67/77 | €19,050 | - | -€19,050 | |
| Profit (loss) for the period | 9904 | €35,744 | €12,656 | -€23,088 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,744 | €12,656 | -€23,088 | -64.6% |
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 15 October 2026 via checked.be.