EL-ER: 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-ER
Largest movements
- Receivables within one year -€10,000
down €10,000 (-12.1%), from €82,650 to €72,650
- Tangible fixed assets +€4,984
up €4,984 (+6.9%), from €72,510 to €77,494
of which Land and buildings: +€5,399
- Profit (loss) carried forward -€3,547
down €3,547 (-2.6%), from -€138,148 to -€141,696
- Gross operating margin -€6,992
down €6,992 (-67.8%), from €10,311 to €3,319
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 | €167,435 | €162,969 | -€4,466 | -2.7% |
| Fixed assets | 21/28 | €72,510 | €77,494 | +€4,984 | +6.9% |
| Tangible fixed assets | 22/27 | €72,510 | €77,494 | +€4,984 | +6.9% |
| Land and buildings | 22 | €72,061 | €77,459 | +€5,399 | +7.5% |
| Plant, machinery and equipment | 23 | €449 | €34 | -€415 | -92.4% |
| Current assets | 29/58 | €94,925 | €85,476 | -€9,450 | -10.0% |
| Stocks and contracts in progress | 3 | €11,918 | €11,918 | = | 0.0% |
| Stocks | 30/36 | €11,918 | €11,918 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €82,650 | €72,650 | -€10,000 | -12.1% |
| Trade receivables | 40 | €82,650 | €72,650 | -€10,000 | -12.1% |
| Cash at bank and in hand | 54/58 | €357 | €907 | +€550 | +154.2% |
| Total equity and liabilities | 10/49 | €167,435 | €162,969 | -€4,466 | -2.7% |
| Equity | 10/15 | €41,852 | €38,304 | -€3,547 | -8.5% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Outside capital | 11 | €180,000 | - | -€180,000 | |
| Other | 1109/19 | €180,000 | - | -€180,000 | |
| Profit (loss) carried forward | 14 | -€138,148 | -€141,696 | -€3,547 | -2.6% |
| Amounts payable | 17/49 | €125,583 | €124,665 | -€918 | -0.7% |
| Amounts payable after more than one year | 17 | €122,136 | €122,136 | = | 0.0% |
| Other amounts payable | 178/9 | €122,136 | €122,136 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,447 | €2,529 | -€918 | -26.6% |
| Other amounts payable | 47/48 | €3,447 | €2,529 | -€918 | -26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,207 | €6,202 | -€5 | -0.1% |
| Other operating charges | 640/8 | €607 | €620 | +€12 | +2.0% |
| Gross operating margin | 9900 | €10,311 | €3,319 | -€6,992 | -67.8% |
| Operating profit (loss) | 9901 | €3,496 | -€3,502 | -€6,998 | |
| Financial charges | 65/66B | €40 | €45 | +€5 | +11.8% |
| Recurring financial charges | 65 | €40 | €45 | +€5 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €3,456 | -€3,547 | -€7,003 | |
| Profit (loss) for the period | 9904 | €3,456 | -€3,547 | -€7,003 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,456 | -€3,547 | -€7,003 |
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 1 October 2026 via checked.be.