E.L.T.V.: 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.T.V.
Largest movements
- Receivables within one year -€5,442
down €5,442 (-2.6%), from €206,621 to €201,179
of which Trade receivables: -€7,668
- Tangible fixed assets -€3,303
down €3,303 (-52.8%), from €6,259 to €2,955
of which Furniture and vehicles: -€4,105
- Short-term financial debts -€10,128
no longer reported in 2025 (was €10,128)
- Reserves +€6,432
up €6,432 (+9.2%), from €69,786 to €76,218
of which Non-distributable reserves: +€6,432
- Trade debts -€5,500
down €5,500 (-79.6%), from €6,905 to €1,406
- Gross operating margin +€6,018
up €6,018 (+58.6%), from €10,275 to €16,293
- Taxes +€1,969
up €1,969 (+143%), from €1,381 to €3,351
- Financial charges +€426
up €426 (+115%), from €371 to €797
- Depreciation -€284
down €284 (-5.5%), from €5,157 to €4,873
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 | €214,328 | €206,776 | -€7,552 | -3.5% |
| Fixed assets | 21/28 | €6,559 | €3,255 | -€3,303 | -50.4% |
| Tangible fixed assets | 22/27 | €6,259 | €2,955 | -€3,303 | -52.8% |
| Plant, machinery and equipment | 23 | €1,454 | €2,256 | +€802 | +55.1% |
| Furniture and vehicles | 24 | €4,804 | €699 | -€4,105 | -85.4% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €207,769 | €203,521 | -€4,248 | -2.0% |
| Amounts receivable within one year | 40/41 | €206,621 | €201,179 | -€5,442 | -2.6% |
| Trade receivables | 40 | €11,117 | €3,449 | -€7,668 | -69.0% |
| Other amounts receivable | 41 | €195,504 | €197,730 | +€2,226 | +1.1% |
| Cash at bank and in hand | 54/58 | €34 | €1,177 | +€1,142 | +3,349% |
| Deferred charges and accrued income | 490/1 | €1,114 | €1,165 | +€51 | +4.6% |
| Total equity and liabilities | 10/49 | €214,328 | €206,776 | -€7,552 | -3.5% |
| Equity | 10/15 | €194,184 | €200,616 | +€6,432 | +3.3% |
| Reserves | 13 | €69,786 | €76,218 | +€6,432 | +9.2% |
| Non-distributable reserves | 130/1 | €44,786 | €51,218 | +€6,432 | +14.4% |
| Other | 1319 | €44,786 | €51,218 | +€6,432 | +14.4% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,398 | €124,398 | = | 0.0% |
| Amounts payable | 17/49 | €20,144 | €6,160 | -€13,984 | -69.4% |
| Amounts payable within one year | 42/48 | €20,144 | €6,160 | -€13,984 | -69.4% |
| Financial debts | 43 | €10,128 | - | -€10,128 | |
| Other loans | 439 | €10,128 | - | -€10,128 | |
| Trade debts | 44 | €6,905 | €1,406 | -€5,500 | -79.6% |
| Suppliers | 440/4 | €6,905 | €1,406 | -€5,500 | -79.6% |
| Taxes, remuneration and social security | 45 | €3,110 | €4,754 | +€1,644 | +52.9% |
| Taxes | 450/3 | €3,110 | €4,754 | +€1,644 | +52.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,157 | €4,873 | -€284 | -5.5% |
| Other operating charges | 640/8 | €715 | €841 | +€127 | +17.7% |
| Gross operating margin | 9900 | €10,275 | €16,293 | +€6,018 | +58.6% |
| Operating profit (loss) | 9901 | €4,404 | €10,579 | +€6,175 | +140% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €371 | €797 | +€426 | +115% |
| Recurring financial charges | 65 | €371 | €797 | +€426 | +115% |
| Profit (loss) for the period before taxes | 9903 | €4,037 | €9,782 | +€5,745 | +142% |
| Income taxes | 67/77 | €1,381 | €3,351 | +€1,969 | +143% |
| Profit (loss) for the period | 9904 | €2,656 | €6,432 | +€3,776 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €2,656 | €6,432 | +€3,776 | +142% |
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 1 November 2026 via checked.be.