E-Lac: 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.
What changed
E-Lac
NACE 43.211, General electrical installation work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€4,639
2024 · -€124,650+€120,011
Equity
€846,221
2024 · €911,634-€65,413
Cash
€576,984
2024 · €625,637-€48,653
Balance sheet total
€1.0m
2024 · €1.1m-€83,376
Largest movements
Assets
- Cash -€48,653
down €48,653 (-7.8%), from €625,637 to €576,984
mainly Contributions, distributions and other (-€60,774) and Accrued charges and deferred income (-€54,512)
- Receivables within one year -€39,210
down €39,210 (-36.9%), from €106,359 to €67,149
of which Trade receivables: -€37,899
Equity and liabilities
- Reserves -€60,774
down €60,774 (-6.6%), from €920,577 to €859,803
of which Distributable reserves: -€60,774
- Accrued charges and deferred income -€54,512
no longer reported in 2025 (was €54,512)
- Trade debts +€33,222
up €33,222 (+160%), from €20,795 to €54,017
Income statement
- Gross operating margin +€94,885
up €94,885 (+25.7%), from €369,633 to €464,518
- Staff costs -€25,675
down €25,675 (-5.7%), from €454,225 to €428,550
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.
Result 2024
-€124,650
Gross operating margin
+€94,885
Staff costs
+€25,675
Depreciation
-€3,567
Other operating charges
+€1,931
Other operating items
+€250
Financial income
-€889
Financial charges
+€1,744
Taxes
-€18
Result 2025
-€4,639
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€55,334
Investment
-€33,490
Financing
-€70,497
Cash 2024
€625,637
From operations (derived)
+€55,334
Net result for the year
-€4,639
Depreciation
+€33,609
Stocks and contracts
-€2,303
Receivables within one year
+€39,210
Deferred charges and accrued income
-€2,303
Trade debts
+€33,222
Tax, wage and social debts
+€9,037
Other debts
+€4,013
Accrued charges and deferred income
-€54,512
Investment (derived)
-€33,490
Investment in fixed assets (net)
-€33,490
Financing
-€70,497
Debts after one year
-€10,142
Current portion of long-term debt
+€419
Contributions, distributions and other
-€60,774
Cash 2025
€576,984
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,123,489 | €1,040,113 | -€83,376 | -7.4% |
| Fixed assets | 21/28 | €201,764 | €201,645 | -€119 | -0.1% |
| Tangible fixed assets | 22/27 | €198,874 | €198,769 | -€105 | -0.1% |
| Land and buildings | 22 | €1,194 | €1,111 | -€83 | -7.0% |
| Plant, machinery and equipment | 23 | €126,925 | €111,589 | -€15,336 | -12.1% |
| Furniture and vehicles | 24 | €70,755 | €86,069 | +€15,314 | +21.6% |
| Financial fixed assets | 28 | €2,890 | €2,876 | -€14 | -0.5% |
| Current assets | 29/58 | €921,725 | €838,468 | -€83,257 | -9.0% |
| Stocks and contracts in progress | 3 | €184,309 | €186,612 | +€2,303 | +1.2% |
| Stocks | 30/36 | €184,309 | €186,612 | +€2,303 | +1.2% |
| Amounts receivable within one year | 40/41 | €106,359 | €67,149 | -€39,210 | -36.9% |
| Trade receivables | 40 | €80,350 | €42,451 | -€37,899 | -47.2% |
| Other amounts receivable | 41 | €26,009 | €24,698 | -€1,311 | -5.0% |
| Cash at bank and in hand | 54/58 | €625,637 | €576,984 | -€48,653 | -7.8% |
| Deferred charges and accrued income | 490/1 | €5,420 | €7,723 | +€2,303 | +42.5% |
| Total equity and liabilities | 10/49 | €1,123,489 | €1,040,113 | -€83,376 | -7.4% |
| Equity | 10/15 | €911,634 | €846,221 | -€65,413 | -7.2% |
| Contributions | 10/11 | €113,783 | €113,783 | = | 0.0% |
| Capital | 10 | €113,783 | €113,783 | = | 0.0% |
| Issued capital | 100 | €113,783 | €113,783 | = | 0.0% |
| Reserves | 13 | €920,577 | €859,803 | -€60,774 | -6.6% |
| Non-distributable reserves | 130/1 | €11,378 | €11,378 | = | 0.0% |
| Legal reserve | 130 | - | €11,378 | +€11,378 | |
| Reserves not available under the articles | 1311 | €11,378 | - | -€11,378 | |
| Tax-exempt reserves | 132 | €16,304 | €16,304 | = | 0.0% |
| Distributable reserves | 133 | €892,895 | €832,121 | -€60,774 | -6.8% |
| Profit (loss) carried forward | 14 | -€122,726 | -€127,365 | -€4,639 | -3.8% |
| Amounts payable | 17/49 | €211,855 | €193,892 | -€17,963 | -8.5% |
| Amounts payable after more than one year | 17 | €84,218 | €74,076 | -€10,142 | -12.0% |
| Financial debts | 170/4 | €84,218 | €74,076 | -€10,142 | -12.0% |
| Amounts payable within one year | 42/48 | €73,125 | €119,816 | +€46,691 | +63.9% |
| Current portion of amounts payable after more than one year | 42 | €9,723 | €10,142 | +€419 | +4.3% |
| Trade debts | 44 | €20,795 | €54,017 | +€33,222 | +160% |
| Suppliers | 440/4 | €20,795 | €54,017 | +€33,222 | +160% |
| Taxes, remuneration and social security | 45 | €42,607 | €51,644 | +€9,037 | +21.2% |
| Taxes | 450/3 | €5,770 | €2,448 | -€3,322 | -57.6% |
| Remuneration and social security | 454/9 | €36,837 | €49,196 | +€12,359 | +33.6% |
| Other amounts payable | 47/48 | - | €4,013 | +€4,013 | |
| Accrued charges and deferred income | 492/3 | €54,512 | - | -€54,512 | |
| Remuneration, social security and pensions | 62 | €454,225 | €428,550 | -€25,675 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,042 | €33,609 | +€3,567 | +11.9% |
| Other operating charges | 640/8 | €5,199 | €3,268 | -€1,931 | -37.1% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €369,633 | €464,518 | +€94,885 | +25.7% |
| Operating profit (loss) | 9901 | -€120,083 | -€909 | +€119,174 | +99.2% |
| Financial income | 75/76B | €1,228 | €339 | -€889 | -72.4% |
| Recurring financial income | 75 | €1,228 | €339 | -€889 | -72.4% |
| Financial charges | 65/66B | €5,102 | €3,358 | -€1,744 | -34.2% |
| Recurring financial charges | 65 | €5,102 | €3,358 | -€1,744 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | -€123,957 | -€3,928 | +€120,029 | +96.8% |
| Income taxes | 67/77 | €693 | €711 | +€18 | +2.6% |
| Profit (loss) for the period | 9904 | -€124,650 | -€4,639 | +€120,011 | +96.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,650 | -€4,639 | +€120,011 | +96.3% |
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.