E-Luse: 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-Luse
Largest movements
- Cash +€126,931
up €126,931 (+46.8%), from €271,433 to €398,364
mainly Net result for the year (+€196,279) and Receivables within one year (+€80,586)
- Receivables within one year -€80,586
down €80,586 (-33.8%), from €238,573 to €157,987
of which Trade receivables: -€65,172
- Tangible fixed assets -€24,632
down €24,632 (-22.6%), from €108,774 to €84,142
- Deferred charges and accrued income +€14,188
up €14,188 (+119%), from €11,874 to €26,062
- Reserves +€196,279
up €196,279 (+70.0%), from €280,453 to €476,732
- Other debts -€109,410
down €109,410 (-70.0%), from €156,266 to €46,856
- Tax, wage and social debts -€26,082
down €26,082 (-36.6%), from €71,168 to €45,085
of which Remuneration and social security: -€21,405
- Debts after one year -€22,907
down €22,907 (-38.1%), from €60,081 to €37,174
- Current portion of long-term debt -€6,893
down €6,893 (-23.1%), from €29,800 to €22,907
- Gross operating margin -€32,490
down €32,490 (-6.1%), from €533,052 to €500,562
- Staff costs +€31,675
up €31,675 (+19.1%), from €165,650 to €197,325
- Taxes -€18,341
down €18,341 (-21.4%), from €85,557 to €67,216
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 | €630,903 | €666,805 | +€35,901 | +5.7% |
| Fixed assets | 21/28 | €109,024 | €84,392 | -€24,632 | -22.6% |
| Tangible fixed assets | 22/27 | €108,774 | €84,142 | -€24,632 | -22.6% |
| Furniture and vehicles | 24 | €108,774 | €84,142 | -€24,632 | -22.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €521,879 | €582,413 | +€60,533 | +11.6% |
| Amounts receivable within one year | 40/41 | €238,573 | €157,987 | -€80,586 | -33.8% |
| Trade receivables | 40 | €223,142 | €157,970 | -€65,172 | -29.2% |
| Other amounts receivable | 41 | €15,430 | €16 | -€15,414 | -99.9% |
| Cash at bank and in hand | 54/58 | €271,433 | €398,364 | +€126,931 | +46.8% |
| Deferred charges and accrued income | 490/1 | €11,874 | €26,062 | +€14,188 | +119% |
| Total equity and liabilities | 10/49 | €630,903 | €666,805 | +€35,901 | +5.7% |
| Equity | 10/15 | €299,053 | €495,332 | +€196,279 | +65.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €280,453 | €476,732 | +€196,279 | +70.0% |
| Distributable reserves | 133 | €280,453 | €476,732 | +€196,279 | +70.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €331,850 | €171,472 | -€160,378 | -48.3% |
| Amounts payable after more than one year | 17 | €60,081 | €37,174 | -€22,907 | -38.1% |
| Financial debts | 170/4 | €60,081 | €37,174 | -€22,907 | -38.1% |
| Amounts payable within one year | 42/48 | €269,767 | €129,175 | -€140,592 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €29,800 | €22,907 | -€6,893 | -23.1% |
| Trade debts | 44 | €12,533 | €14,326 | +€1,794 | +14.3% |
| Suppliers | 440/4 | €12,533 | €14,326 | +€1,794 | +14.3% |
| Taxes, remuneration and social security | 45 | €71,168 | €45,085 | -€26,082 | -36.6% |
| Taxes | 450/3 | €39,144 | €34,467 | -€4,677 | -11.9% |
| Remuneration and social security | 454/9 | €32,024 | €10,618 | -€21,405 | -66.8% |
| Other amounts payable | 47/48 | €156,266 | €46,856 | -€109,410 | -70.0% |
| Accrued charges and deferred income | 492/3 | €2,002 | €5,123 | +€3,121 | +156% |
| Remuneration, social security and pensions | 62 | €165,650 | €197,325 | +€31,675 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,973 | €28,550 | +€2,577 | +9.9% |
| Other operating charges | 640/8 | €1,125 | €3,703 | +€2,579 | +229% |
| Gross operating margin | 9900 | €533,052 | €500,562 | -€32,490 | -6.1% |
| Operating profit (loss) | 9901 | €340,305 | €270,985 | -€69,320 | -20.4% |
| Financial income | 75/76B | €2 | €253 | +€251 | +12,487% |
| Recurring financial income | 75 | €2 | €253 | +€251 | +12,487% |
| Financial charges | 65/66B | €4,448 | €7,742 | +€3,294 | +74.1% |
| Recurring financial charges | 65 | €4,448 | €7,742 | +€3,294 | +74.1% |
| Profit (loss) for the period before taxes | 9903 | €335,858 | €263,495 | -€72,363 | -21.5% |
| Income taxes | 67/77 | €85,557 | €67,216 | -€18,341 | -21.4% |
| Profit (loss) for the period | 9904 | €250,301 | €196,279 | -€54,022 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €250,301 | €196,279 | -€54,022 | -21.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.