EL-ART: 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.
EL-ART
Largest movements
- Cash +€15,922
up €15,922 (+11,276%), from €141 to €16,063
mainly Receivables within one year (+€11,662) and Net result for the year (+€4,440)
- Receivables within one year -€11,662
down €11,662 (-99.3%), from €11,745 to €83
of which Trade receivables: -€10,800
- Reserves +€4,440
up €4,440 (+56.4%), from €7,868 to €12,307
- Tax, wage and social debts -€261
down €261 (-12.9%), from €2,019 to €1,757
- Gross operating margin -€821
down €821 (-10.5%), from €7,828 to €7,007
- Taxes +€109
up €109 (+5.4%), from €2,019 to €2,127
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 | €11,886 | €16,146 | +€4,260 | +35.8% |
| Current assets | 29/58 | €11,886 | €16,146 | +€4,260 | +35.8% |
| Amounts receivable within one year | 40/41 | €11,745 | €83 | -€11,662 | -99.3% |
| Trade receivables | 40 | €10,800 | - | -€10,800 | |
| Other amounts receivable | 41 | €945 | €83 | -€862 | -91.2% |
| Cash at bank and in hand | 54/58 | €141 | €16,063 | +€15,922 | +11,276% |
| Total equity and liabilities | 10/49 | €11,886 | €16,146 | +€4,260 | +35.8% |
| Equity | 10/15 | €9,868 | €14,307 | +€4,440 | +45.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €7,868 | €12,307 | +€4,440 | +56.4% |
| Distributable reserves | 133 | €7,868 | €12,307 | +€4,440 | +56.4% |
| Amounts payable | 17/49 | €2,019 | €1,839 | -€180 | -8.9% |
| Amounts payable within one year | 42/48 | €2,019 | €1,839 | -€180 | -8.9% |
| Taxes, remuneration and social security | 45 | €2,019 | €1,757 | -€261 | -12.9% |
| Taxes | 450/3 | €2,019 | €1,757 | -€261 | -12.9% |
| Other amounts payable | 47/48 | - | €82 | +€82 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €7,828 | €7,007 | -€821 | -10.5% |
| Operating profit (loss) | 9901 | €7,441 | €6,608 | -€833 | -11.2% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €7,402 | €6,567 | -€835 | -11.3% |
| Income taxes | 67/77 | €2,019 | €2,127 | +€109 | +5.4% |
| Profit (loss) for the period | 9904 | €5,383 | €4,440 | -€943 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,383 | €4,440 | -€943 | -17.5% |
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 28 October 2026 via checked.be.