ELA FINANCES: what changed
ELA FINANCES
Largest movements
- Cash +€60,362
up €60,362 (+92.7%), from €65,118 to €125,480
mainly Net result for the year (+€128,740) and Debts after one year (+€82,833)
- Intangible fixed assets -€16,800
down €16,800 (-33.3%), from €50,400 to €33,600
- Tangible fixed assets -€8,659
down €8,659 (-5.8%), from €148,617 to €139,957
of which Other tangible fixed assets: -€18,243
- Receivables within one year -€6,289
down €6,289 (-12.3%), from €51,064 to €44,775
of which Other amounts receivable: -€6,001
- Deferred charges and accrued income -€5,209
down €5,209 (-79.9%), from €6,517 to €1,308
- Debts after one year +€82,833
up €82,833 (+108%), from €77,054 to €159,887
of which Other amounts payable: +€85,000
- Other debts -€55,373
down €55,373 (-33.2%), from €166,980 to €111,607
- Tax, wage and social debts +€7,301
up €7,301 (+25.7%), from €28,457 to €35,758
of which Remuneration and social security: +€8,801
- Current portion of long-term debt -€5,390
down €5,390 (-22.7%), from €23,703 to €18,314
- Staff costs +€35,049
up €35,049 (+25.5%), from €137,479 to €172,528
- Gross operating margin +€14,999
up €14,999 (+3.9%), from €379,791 to €394,790
- Depreciation -€7,581
down €7,581 (-15.6%), from €48,466 to €40,884
- Other operating charges +€5,706
up €5,706 (+167%), from €3,414 to €9,120
- Taxes -€4,293
down €4,293 (-9.3%), from €46,013 to €41,720
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €321,715 | €346,003 | +€24,288 | +7.5% |
| Fixed assets | 21/28 | €199,017 | €174,440 | -€24,576 | -12.3% |
| Intangible fixed assets | 21 | €50,400 | €33,600 | -€16,800 | -33.3% |
| Tangible fixed assets | 22/27 | €148,617 | €139,957 | -€8,659 | -5.8% |
| Plant, machinery and equipment | 23 | €160 | €50 | -€110 | -68.9% |
| Furniture and vehicles | 24 | €26,652 | €36,346 | +€9,694 | +36.4% |
| Other tangible fixed assets | 26 | €121,805 | €103,561 | -€18,243 | -15.0% |
| Financial fixed assets | 28 | - | €883 | +€883 | |
| Current assets | 29/58 | €122,699 | €171,563 | +€48,864 | +39.8% |
| Amounts receivable within one year | 40/41 | €51,064 | €44,775 | -€6,289 | -12.3% |
| Trade receivables | 40 | €41,197 | €40,909 | -€288 | -0.7% |
| Other amounts receivable | 41 | €9,867 | €3,866 | -€6,001 | -60.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €65,118 | €125,480 | +€60,362 | +92.7% |
| Deferred charges and accrued income | 490/1 | €6,517 | €1,308 | -€5,209 | -79.9% |
| Total equity and liabilities | 10/49 | €321,715 | €346,003 | +€24,288 | +7.5% |
| Equity | 10/15 | €20,416 | €18,600 | -€1,816 | -8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,816 | €0 | -€1,816 | -100% |
| Amounts payable | 17/49 | €301,300 | €327,403 | +€26,103 | +8.7% |
| Amounts payable after more than one year | 17 | €77,054 | €159,887 | +€82,833 | +108% |
| Financial debts | 170/4 | €77,054 | €74,887 | -€2,167 | -2.8% |
| Other amounts payable | 178/9 | - | €85,000 | +€85,000 | |
| Amounts payable within one year | 42/48 | €223,878 | €167,516 | -€56,362 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €23,703 | €18,314 | -€5,390 | -22.7% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Trade debts | 44 | €4,737 | €1,836 | -€2,901 | -61.2% |
| Suppliers | 440/4 | €4,737 | €1,836 | -€2,901 | -61.2% |
| Taxes, remuneration and social security | 45 | €28,457 | €35,758 | +€7,301 | +25.7% |
| Taxes | 450/3 | €1,500 | €0 | -€1,500 | -100% |
| Remuneration and social security | 454/9 | €26,957 | €35,758 | +€8,801 | +32.6% |
| Other amounts payable | 47/48 | €166,980 | €111,607 | -€55,373 | -33.2% |
| Accrued charges and deferred income | 492/3 | €368 | €0 | -€368 | -100% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €137,479 | €172,528 | +€35,049 | +25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,466 | €40,884 | -€7,581 | -15.6% |
| Other operating charges | 640/8 | €3,414 | €9,120 | +€5,706 | +167% |
| Gross operating margin | 9900 | €379,791 | €394,790 | +€14,999 | +3.9% |
| Operating profit (loss) | 9901 | €190,432 | €172,258 | -€18,174 | -9.5% |
| Financial income | 75/76B | €816 | €455 | -€361 | -44.2% |
| Recurring financial income | 75 | €816 | €455 | -€361 | -44.2% |
| Financial charges | 65/66B | €3,475 | €2,252 | -€1,223 | -35.2% |
| Recurring financial charges | 65 | €3,475 | €2,252 | -€1,223 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €187,773 | €170,461 | -€17,312 | -9.2% |
| Income taxes | 67/77 | €46,013 | €41,720 | -€4,293 | -9.3% |
| Profit (loss) for the period | 9904 | €141,759 | €128,740 | -€13,019 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €141,759 | €128,740 | -€13,019 | -9.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.