El - Co: 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 - Co
Largest movements
- Receivables within one year -€28,076
down €28,076 (-34.8%), from €80,681 to €52,605
of which Other amounts receivable: -€50,195
- Financial fixed assets +€7,150
up €7,150 (+13.7%), from €52,250 to €59,400
- Cash -€6,650
down €6,650 (-37.9%), from €17,566 to €10,916
mainly Other debts (-€45,297) and Contributions, distributions and other (-€36,660)
- Other debts -€45,297
down €45,297 (-97.7%), from €46,356 to €1,059
- Profit (loss) carried forward +€35,048
up €35,048 (+95.6%), from €36,663 to €71,711
- Current portion of long-term debt -€10,018
down €10,018 (-100%), from €10,018 to €0
- Short-term financial debts -€8,375
down €8,375 (-41.6%), from €20,139 to €11,764
- Tax, wage and social debts +€1,783
up €1,783 (+10.0%), from €17,860 to €19,642
- Gross operating margin +€50,003
up €50,003 (+109%), from €46,079 to €96,083
- Taxes +€12,667
up €12,667 (+104%), from €12,162 to €24,829
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 | €151,277 | €123,514 | -€27,763 | -18.4% |
| Fixed assets | 21/28 | €52,994 | €59,915 | +€6,921 | +13.1% |
| Tangible fixed assets | 22/27 | €744 | €515 | -€229 | -30.8% |
| Furniture and vehicles | 24 | €744 | €515 | -€229 | -30.8% |
| Financial fixed assets | 28 | €52,250 | €59,400 | +€7,150 | +13.7% |
| Current assets | 29/58 | €98,283 | €63,599 | -€34,684 | -35.3% |
| Amounts receivable within one year | 40/41 | €80,681 | €52,605 | -€28,076 | -34.8% |
| Trade receivables | 40 | €16,088 | €38,206 | +€22,118 | +137% |
| Other amounts receivable | 41 | €64,594 | €14,399 | -€50,195 | -77.7% |
| Cash at bank and in hand | 54/58 | €17,566 | €10,916 | -€6,650 | -37.9% |
| Deferred charges and accrued income | 490/1 | €35 | €78 | +€43 | +122% |
| Total equity and liabilities | 10/49 | €151,277 | €123,514 | -€27,763 | -18.4% |
| Equity | 10/15 | €51,663 | €86,711 | +€35,048 | +67.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,663 | €71,711 | +€35,048 | +95.6% |
| Amounts payable | 17/49 | €99,614 | €36,803 | -€62,810 | -63.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €99,226 | €36,803 | -€62,423 | -62.9% |
| Current portion of amounts payable after more than one year | 42 | €10,018 | €0 | -€10,018 | -100% |
| Financial debts | 43 | €20,139 | €11,764 | -€8,375 | -41.6% |
| Credit institutions | 430/8 | €20,139 | €11,764 | -€8,375 | -41.6% |
| Trade debts | 44 | €4,854 | €4,338 | -€516 | -10.6% |
| Suppliers | 440/4 | €4,854 | €4,338 | -€516 | -10.6% |
| Taxes, remuneration and social security | 45 | €17,860 | €19,642 | +€1,783 | +10.0% |
| Taxes | 450/3 | €17,860 | €19,642 | +€1,783 | +10.0% |
| Other amounts payable | 47/48 | €46,356 | €1,059 | -€45,297 | -97.7% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €742 | €229 | -€513 | -69.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €46,079 | €96,083 | +€50,003 | +109% |
| Operating profit (loss) | 9901 | €44,950 | €95,454 | +€50,504 | +112% |
| Financial income | 75/76B | €2,168 | €2,209 | +€41 | +1.9% |
| Recurring financial income | 75 | €2,168 | €2,209 | +€41 | +1.9% |
| Financial charges | 65/66B | €1,408 | €1,126 | -€282 | -20.0% |
| Recurring financial charges | 65 | €1,408 | €1,126 | -€282 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €45,710 | €96,537 | +€50,827 | +111% |
| Income taxes | 67/77 | €12,162 | €24,829 | +€12,667 | +104% |
| Profit (loss) for the period | 9904 | €33,547 | €71,708 | +€38,160 | +114% |
| Profit (loss) for the period to be appropriated | 9905 | €33,547 | €71,708 | +€38,160 | +114% |
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 16 October 2026 via checked.be.