EELEN: what changed
Two fiscal 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.
EELEN
Largest movements
- Tangible fixed assets -€18,497
down €18,497 (-14.5%), from €127,696 to €109,199
of which Plant, machinery and equipment: -€17,641
- Receivables within one year +€14,603
up €14,603 (+15.4%), from €94,916 to €109,519
of which Other amounts receivable: +€13,882
- Stocks and contracts +€10,946
up €10,946 (+5.9%), from €186,942 to €197,888
- Other debts +€82,549
up €82,549 (+481.7%), from €17,138 to €99,687
- Reserves -€55,904
down €55,904 (-9.1%), from €613,977 to €558,073
- Tax, wage and social debts -€10,954
down €10,954 (-46.9%), from €23,362 to €12,408
- Write-downs +€12,649
up €12,649, from €0 to €12,649
- Depreciation +€12,549
up €12,549 (+42.0%), from €29,849 to €42,397
- Financial charges -€7,075
down €7,075 (-81.3%), from €8,706 to €1,631
- Gross operating margin -€6,751
down €6,751 (-3.9%), from €171,992 to €165,241
- Taxes +€2,039
up €2,039 (+6.7%), from €30,369 to €32,408
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.
Cash bridge derived
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 | €663,702 | €677,374 | +€13,672 | +2.1% |
| Fixed assets | 21/28 | €127,696 | €109,199 | -€18,497 | -14.5% |
| Tangible fixed assets | 22/27 | €127,696 | €109,199 | -€18,497 | -14.5% |
| Plant, machinery and equipment | 23 | €119,990 | €102,349 | -€17,641 | -14.7% |
| Furniture and vehicles | 24 | €7,706 | €6,850 | -€856 | -11.1% |
| Current assets | 29/58 | €536,006 | €568,174 | +€32,168 | +6.0% |
| Stocks and contracts in progress | 3 | €186,942 | €197,888 | +€10,946 | +5.9% |
| Stocks | 30/36 | €186,942 | €197,888 | +€10,946 | +5.9% |
| Amounts receivable within one year | 40/41 | €94,916 | €109,519 | +€14,603 | +15.4% |
| Trade receivables | 40 | €94,916 | €95,637 | +€721 | +0.8% |
| Other amounts receivable | 41 | €0 | €13,882 | +€13,882 | |
| Cash at bank and in hand | 54/58 | €254,148 | €260,767 | +€6,619 | +2.6% |
| Total equity and liabilities | 10/49 | €663,702 | €677,374 | +€13,672 | +2.1% |
| Equity | 10/15 | €620,177 | €564,273 | -€55,904 | -9.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €613,977 | €558,073 | -€55,904 | -9.1% |
| Distributable reserves | 133 | €613,977 | €558,073 | -€55,904 | -9.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €43,524 | €113,100 | +€69,576 | +159.9% |
| Amounts payable within one year | 42/48 | €43,524 | €113,100 | +€69,576 | +159.9% |
| Trade debts | 44 | €3,024 | €1,005 | -€2,019 | -66.8% |
| Suppliers | 440/4 | €3,024 | €1,005 | -€2,019 | -66.8% |
| Taxes, remuneration and social security | 45 | €23,362 | €12,408 | -€10,954 | -46.9% |
| Taxes | 450/3 | €23,362 | €12,408 | -€10,954 | -46.9% |
| Other amounts payable | 47/48 | €17,138 | €99,687 | +€82,549 | +481.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,849 | €42,397 | +€12,549 | +42.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €12,649 | +€12,649 | |
| Other operating charges | 640/8 | €2,238 | €2,024 | -€214 | -9.6% |
| Gross operating margin | 9900 | €171,992 | €165,241 | -€6,751 | -3.9% |
| Operating profit (loss) | 9901 | €139,905 | €108,170 | -€31,735 | -22.7% |
| Financial income | 75/76B | €11,263 | €9,489 | -€1,774 | -15.7% |
| Recurring financial income | 75 | €11,263 | €9,489 | -€1,774 | -15.7% |
| Financial charges | 65/66B | €8,706 | €1,631 | -€7,075 | -81.3% |
| Recurring financial charges | 65 | €8,706 | €1,631 | -€7,075 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €142,462 | €116,029 | -€26,434 | -18.6% |
| Income taxes | 67/77 | €30,369 | €32,408 | +€2,039 | +6.7% |
| Profit (loss) for the period | 9904 | €112,093 | €83,621 | -€28,472 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €112,093 | €83,621 | -€28,472 | -25.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.