El-Decon: 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-Decon
Largest movements
- Tangible fixed assets +€53,725
up €53,725 (+12.0%), from €448,738 to €502,463
of which Land and buildings: +€45,095
- Receivables within one year -€25,872
down €25,872 (-4.0%), from €647,169 to €621,297
- Current investments -€23,467
no longer reported in 2025 (was €23,467)
- Cash -€14,068
down €14,068 (-34.8%), from €40,464 to €26,396
mainly Investment in fixed assets (net) (-€94,324) and Net result for the year (-€35,740)
- Profit (loss) carried forward -€21,340
down €21,340 (-2.6%), from €813,323 to €791,983
- Trade debts +€16,598
up €16,598 (+9938.9%), from €167 to €16,765
- Reserves -€14,400
down €14,400 (-7.2%), from €201,349 to €186,949
of which Tax-exempt reserves: -€14,400
- Other debts +€12,008
new in 2025: €12,008
- Financial income -€13,282
down €13,282 (-47.5%), from €27,944 to €14,662
- Depreciation +€10,970
up €10,970 (+37.0%), from €29,629 to €40,599
- Gross operating margin +€834
up €834 (+7.5%), from -€11,129 to -€10,295
- Other operating charges +€147
up €147 (+5.2%), from €2,839 to €2,986
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 | €1,160,006 | €1,150,323 | -€9,683 | -0.8% |
| Fixed assets | 21/28 | €448,905 | €502,630 | +€53,725 | +12.0% |
| Intangible fixed assets | 21 | €167 | €167 | = | 0.0% |
| Tangible fixed assets | 22/27 | €448,738 | €502,463 | +€53,725 | +12.0% |
| Land and buildings | 22 | €434,295 | €479,390 | +€45,095 | +10.4% |
| Plant, machinery and equipment | 23 | €13,864 | €22,684 | +€8,820 | +63.6% |
| Furniture and vehicles | 24 | €579 | €389 | -€190 | -32.8% |
| Current assets | 29/58 | €711,101 | €647,693 | -€63,408 | -8.9% |
| Amounts receivable within one year | 40/41 | €647,169 | €621,297 | -€25,872 | -4.0% |
| Other amounts receivable | 41 | €647,169 | €621,297 | -€25,872 | -4.0% |
| Current investments | 50/53 | €23,467 | - | -€23,467 | |
| Cash at bank and in hand | 54/58 | €40,464 | €26,396 | -€14,068 | -34.8% |
| Deferred charges and accrued income | 490/1 | €1 | - | -€1 | |
| Total equity and liabilities | 10/49 | €1,160,006 | €1,150,323 | -€9,683 | -0.8% |
| Equity | 10/15 | €1,144,672 | €1,108,932 | -€35,740 | -3.1% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €201,349 | €186,949 | -€14,400 | -7.2% |
| Tax-exempt reserves | 132 | €76,350 | €61,950 | -€14,400 | -18.9% |
| Distributable reserves | 133 | €124,999 | €124,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | €813,323 | €791,983 | -€21,340 | -2.6% |
| Provisions and deferred taxes | 16 | €14,400 | €10,800 | -€3,600 | -25.0% |
| Deferred taxes | 168 | €14,400 | €10,800 | -€3,600 | -25.0% |
| Amounts payable | 17/49 | €934 | €30,591 | +€29,657 | +3175.3% |
| Amounts payable within one year | 42/48 | €167 | €30,591 | +€30,424 | +18218.0% |
| Trade debts | 44 | €167 | €16,765 | +€16,598 | +9938.9% |
| Suppliers | 440/4 | €167 | €16,765 | +€16,598 | +9938.9% |
| Taxes, remuneration and social security | 45 | - | €1,818 | +€1,818 | |
| Taxes | 450/3 | - | €1,818 | +€1,818 | |
| Other amounts payable | 47/48 | - | €12,008 | +€12,008 | |
| Accrued charges and deferred income | 492/3 | €767 | - | -€767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,629 | €40,599 | +€10,970 | +37.0% |
| Other operating charges | 640/8 | €2,839 | €2,986 | +€147 | +5.2% |
| Gross operating margin | 9900 | -€11,129 | -€10,295 | +€834 | +7.5% |
| Operating profit (loss) | 9901 | -€43,597 | -€53,880 | -€10,283 | -23.6% |
| Financial income | 75/76B | €27,944 | €14,662 | -€13,282 | -47.5% |
| Recurring financial income | 75 | €27,944 | €14,662 | -€13,282 | -47.5% |
| Financial charges | 65/66B | €40 | €122 | +€82 | +205.0% |
| Recurring financial charges | 65 | €40 | €122 | +€82 | +205.0% |
| Non-recurring financial charges | 66B | €40 | - | -€40 | |
| Profit (loss) for the period before taxes | 9903 | -€15,693 | -€39,340 | -€23,647 | -150.7% |
| Transfer from deferred taxes | 780 | €3,600 | €3,600 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€12,093 | -€35,740 | -€23,647 | -195.5% |
| Transfer from tax-exempt reserves | 789 | €14,400 | €14,400 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,307 | -€21,340 | -€23,647 |
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 5 October 2026 via checked.be.