EL CORE: 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.
EL CORE
Largest movements
- Cash +€41,897
up €41,897 (+254.8%), from €16,441 to €58,338
mainly Depreciation (+€41,254) and Net result for the year (+€13,277)
- Tangible fixed assets -€36,723
down €36,723 (-16.6%), from €220,664 to €183,941
of which Land and buildings: -€21,023
- Deferred charges and accrued income -€8,577
down €8,577 (-36.0%), from €23,825 to €15,248
- Other debts -€23,392
down €23,392 (-18.0%), from €129,979 to €106,587
- Profit (loss) carried forward +€13,277
up €13,277, from -€11,348 to €1,929
- Accrued charges and deferred income +€5,220
up €5,220 (+552.4%), from €945 to €6,165
- Gross operating margin +€15,605
up €15,605 (+32.3%), from €48,254 to €63,859
- Depreciation -€4,353
down €4,353 (-9.5%), from €45,606 to €41,254
- Financial charges +€2,128
up €2,128 (+145.0%), from €1,467 to €3,595
- Taxes +€2,036
up €2,036 (+406.9%), from €500 to €2,536
- Other operating charges -€1,342
down €1,342 (-29.5%), from €4,545 to €3,202
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 | €266,844 | €260,979 | -€5,865 | -2.2% |
| Fixed assets | 21/28 | €223,164 | €186,441 | -€36,723 | -16.5% |
| Tangible fixed assets | 22/27 | €220,664 | €183,941 | -€36,723 | -16.6% |
| Land and buildings | 22 | €160,571 | €139,548 | -€21,023 | -13.1% |
| Furniture and vehicles | 24 | €26,007 | €15,646 | -€10,361 | -39.8% |
| Other tangible fixed assets | 26 | €34,086 | €28,746 | -€5,339 | -15.7% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €43,681 | €74,538 | +€30,857 | +70.6% |
| Amounts receivable within one year | 40/41 | €3,415 | €952 | -€2,462 | -72.1% |
| Other amounts receivable | 41 | €3,415 | €952 | -€2,462 | -72.1% |
| Cash at bank and in hand | 54/58 | €16,441 | €58,338 | +€41,897 | +254.8% |
| Deferred charges and accrued income | 490/1 | €23,825 | €15,248 | -€8,577 | -36.0% |
| Total equity and liabilities | 10/49 | €266,844 | €260,979 | -€5,865 | -2.2% |
| Equity | 10/15 | €11,977 | €25,254 | +€13,277 | +110.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,325 | €3,325 | = | 0.0% |
| Distributable reserves | 133 | €3,325 | €3,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,348 | €1,929 | +€13,277 | |
| Amounts payable | 17/49 | €254,867 | €235,725 | -€19,142 | -7.5% |
| Amounts payable after more than one year | 17 | €120,000 | €120,000 | = | 0.0% |
| Financial debts | 170/4 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €133,922 | €109,560 | -€24,362 | -18.2% |
| Financial debts | 43 | €853 | €215 | -€638 | -74.8% |
| Credit institutions | 430/8 | €853 | €215 | -€638 | -74.8% |
| Trade debts | 44 | €2,685 | €1,723 | -€962 | -35.8% |
| Suppliers | 440/4 | €2,685 | €1,723 | -€962 | -35.8% |
| Taxes, remuneration and social security | 45 | €405 | €1,035 | +€630 | +155.6% |
| Taxes | 450/3 | €405 | €1,035 | +€630 | +155.6% |
| Other amounts payable | 47/48 | €129,979 | €106,587 | -€23,392 | -18.0% |
| Accrued charges and deferred income | 492/3 | €945 | €6,165 | +€5,220 | +552.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,606 | €41,254 | -€4,353 | -9.5% |
| Other operating charges | 640/8 | €4,545 | €3,202 | -€1,342 | -29.5% |
| Gross operating margin | 9900 | €48,254 | €63,859 | +€15,605 | +32.3% |
| Operating profit (loss) | 9901 | -€1,897 | €19,403 | +€21,300 | |
| Financial income | 75/76B | €1 | €4 | +€3 | +289.7% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +289.7% |
| Financial charges | 65/66B | €1,467 | €3,595 | +€2,128 | +145.0% |
| Recurring financial charges | 65 | €1,467 | €3,595 | +€2,128 | +145.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,363 | €15,813 | +€19,176 | |
| Income taxes | 67/77 | €500 | €2,536 | +€2,036 | +406.9% |
| Profit (loss) for the period | 9904 | -€3,863 | €13,277 | +€17,140 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,863 | €13,277 | +€17,140 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.