ELA03: 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.
ELA03
Largest movements
- Tangible fixed assets +€714,399
up €714,399 (+830%), from €86,094 to €800,494
of which Land and buildings: +€654,760
- Intangible fixed assets -€22,223
down €22,223 (-66.8%), from €33,242 to €11,020
- Debts after one year +€533,850
new in 2025: €533,850
- Profit (loss) carried forward +€138,262
up €138,262 (+61.2%), from €226,015 to €364,277
- Current portion of long-term debt +€28,183
new in 2025: €28,183
- Other debts -€24,320
down €24,320 (-26.0%), from €93,580 to €69,260
- Gross operating margin +€249,507
up €249,507 (+46.9%), from €531,640 to €781,147
- Staff costs +€191,859
up €191,859 (+92.5%), from €207,428 to €399,288
- Other operating charges +€90,485
up €90,485 (+150,808%), from €60 to €90,545
- Depreciation +€60,220
up €60,220 (+214%), from €28,159 to €88,380
- Taxes -€28,550
down €28,550 (-41.0%), from €69,585 to €41,035
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 | €449,184 | €1,141,772 | +€692,587 | +154% |
| Fixed assets | 21/28 | €119,337 | €811,514 | +€692,177 | +580% |
| Intangible fixed assets | 21 | €33,242 | €11,020 | -€22,223 | -66.8% |
| Tangible fixed assets | 22/27 | €86,094 | €800,494 | +€714,399 | +830% |
| Land and buildings | 22 | - | €654,760 | +€654,760 | |
| Plant, machinery and equipment | 23 | €86,094 | €125,387 | +€39,293 | +45.6% |
| Furniture and vehicles | 24 | - | €20,346 | +€20,346 | |
| Current assets | 29/58 | €329,848 | €330,258 | +€410 | +0.1% |
| Stocks and contracts in progress | 3 | €2,080 | €2,080 | = | 0.0% |
| Stocks | 30/36 | €2,080 | €2,080 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,626 | €8,429 | -€1,197 | -12.4% |
| Other amounts receivable | 41 | €9,626 | €8,429 | -€1,197 | -12.4% |
| Cash at bank and in hand | 54/58 | €318,142 | €319,057 | +€916 | +0.3% |
| Deferred charges and accrued income | 490/1 | - | €692 | +€692 | |
| Total equity and liabilities | 10/49 | €449,184 | €1,141,772 | +€692,587 | +154% |
| Equity | 10/15 | €228,415 | €366,677 | +€138,262 | +60.5% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,015 | €364,277 | +€138,262 | +61.2% |
| Amounts payable | 17/49 | €220,769 | €775,095 | +€554,325 | +251% |
| Amounts payable after more than one year | 17 | - | €533,850 | +€533,850 | |
| Financial debts | 170/4 | - | €533,850 | +€533,850 | |
| Amounts payable within one year | 42/48 | €220,769 | €241,245 | +€20,476 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | - | €28,183 | +€28,183 | |
| Trade debts | 44 | €36,331 | €45,784 | +€9,453 | +26.0% |
| Suppliers | 440/4 | €36,331 | €45,784 | +€9,453 | +26.0% |
| Taxes, remuneration and social security | 45 | €90,859 | €98,018 | +€7,159 | +7.9% |
| Taxes | 450/3 | €69,585 | €47,949 | -€21,636 | -31.1% |
| Remuneration and social security | 454/9 | €21,274 | €50,069 | +€28,795 | +135% |
| Other amounts payable | 47/48 | €93,580 | €69,260 | -€24,320 | -26.0% |
| Remuneration, social security and pensions | 62 | €207,428 | €399,288 | +€191,859 | +92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,159 | €88,380 | +€60,220 | +214% |
| Other operating charges | 640/8 | €60 | €90,545 | +€90,485 | +150,808% |
| Gross operating margin | 9900 | €531,640 | €781,147 | +€249,507 | +46.9% |
| Operating profit (loss) | 9901 | €295,992 | €202,935 | -€93,057 | -31.4% |
| Financial income | 75/76B | €58 | €114 | +€56 | +96.5% |
| Recurring financial income | 75 | €58 | €114 | +€56 | +96.5% |
| Financial charges | 65/66B | €450 | €22,034 | +€21,584 | +4,796% |
| Recurring financial charges | 65 | €450 | €22,034 | +€21,584 | +4,796% |
| Profit (loss) for the period before taxes | 9903 | €295,600 | €181,014 | -€114,585 | -38.8% |
| Income taxes | 67/77 | €69,585 | €41,035 | -€28,550 | -41.0% |
| Profit (loss) for the period | 9904 | €226,015 | €139,980 | -€86,035 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €226,015 | €139,980 | -€86,035 | -38.1% |
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 18 October 2026 via checked.be.