E-light: what changed
E-light
Largest movements
- Receivables within one year +€166,865
up €166,865 (+1,172%), from €14,236 to €181,101
of which Trade receivables: +€104,650
- Cash -€65,785
down €65,785 (-61.7%), from €106,582 to €40,796
mainly Receivables within one year (-€166,865) and Tax, wage and social debts (-€23,655)
- Tangible fixed assets -€26,859
down €26,859 (-63.8%), from €42,069 to €15,210
- Stocks and contracts +€15,391
up €15,391 (+71.7%), from €21,463 to €36,854
- Financial fixed assets +€8,100
up €8,100 (+4,050%), from €200 to €8,300
- Reserves +€56,098
up €56,098 (+49.8%), from €112,616 to €168,714
- Trade debts +€53,994
up €53,994 (+299%), from €18,075 to €72,068
- Short-term financial debts +€25,000
new in 2025: €25,000
- Tax, wage and social debts -€23,655
down €23,655 (-92.2%), from €25,646 to €1,992
- Other debts -€9,225
down €9,225 (-12.2%), from €75,811 to €66,586
- Gross operating margin +€13,444
up €13,444 (+15.3%), from €87,635 to €101,079
- Taxes +€6,207
up €6,207 (+32.9%), from €18,850 to €25,057
- Depreciation -€6,155
down €6,155 (-44.5%), from €13,840 to €7,686
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €244,549 | €346,760 | +€102,212 | +41.8% |
| Fixed assets | 21/28 | €42,269 | €23,510 | -€18,759 | -44.4% |
| Tangible fixed assets | 22/27 | €42,069 | €15,210 | -€26,859 | -63.8% |
| Plant, machinery and equipment | 23 | €42,069 | €15,210 | -€26,859 | -63.8% |
| Financial fixed assets | 28 | €200 | €8,300 | +€8,100 | +4,050% |
| Current assets | 29/58 | €202,280 | €323,250 | +€120,970 | +59.8% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €21,463 | €36,854 | +€15,391 | +71.7% |
| Stocks | 30/36 | €21,463 | €36,854 | +€15,391 | +71.7% |
| Amounts receivable within one year | 40/41 | €14,236 | €181,101 | +€166,865 | +1,172% |
| Trade receivables | 40 | €11,436 | €116,086 | +€104,650 | +915% |
| Other amounts receivable | 41 | €2,800 | €65,015 | +€62,215 | +2,222% |
| Cash at bank and in hand | 54/58 | €106,582 | €40,796 | -€65,785 | -61.7% |
| Deferred charges and accrued income | 490/1 | - | €4,499 | +€4,499 | |
| Total equity and liabilities | 10/49 | €244,549 | €346,760 | +€102,212 | +41.8% |
| Equity | 10/15 | €125,016 | €181,114 | +€56,098 | +44.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €112,616 | €168,714 | +€56,098 | +49.8% |
| Distributable reserves | 133 | €112,616 | €168,714 | +€56,098 | +49.8% |
| Amounts payable | 17/49 | €119,532 | €165,646 | +€46,113 | +38.6% |
| Amounts payable within one year | 42/48 | €119,532 | €165,646 | +€46,113 | +38.6% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €18,075 | €72,068 | +€53,994 | +299% |
| Suppliers | 440/4 | €18,075 | €72,068 | +€53,994 | +299% |
| Taxes, remuneration and social security | 45 | €25,646 | €1,992 | -€23,655 | -92.2% |
| Taxes | 450/3 | €25,646 | €1,992 | -€23,655 | -92.2% |
| Other amounts payable | 47/48 | €75,811 | €66,586 | -€9,225 | -12.2% |
| Non-recurring operating income | 76A | - | €1,611 | +€1,611 | |
| Remuneration, social security and pensions | 62 | €474 | - | -€474 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,840 | €7,686 | -€6,155 | -44.5% |
| Other operating charges | 640/8 | €2,316 | €2,846 | +€530 | +22.9% |
| Gross operating margin | 9900 | €87,635 | €101,079 | +€13,444 | +15.3% |
| Operating profit (loss) | 9901 | €71,004 | €90,547 | +€19,543 | +27.5% |
| Financial income | 75/76B | €971 | - | -€971 | |
| Recurring financial income | 75 | €971 | - | -€971 | |
| Financial charges | 65/66B | €8,412 | €9,392 | +€980 | +11.6% |
| Recurring financial charges | 65 | €8,412 | €9,392 | +€980 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €63,563 | €81,155 | +€17,592 | +27.7% |
| Income taxes | 67/77 | €18,850 | €25,057 | +€6,207 | +32.9% |
| Profit (loss) for the period | 9904 | €44,713 | €56,098 | +€11,385 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,713 | €56,098 | +€11,385 | +25.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.