ELAD: 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.
ELAD
Largest movements
- Tangible fixed assets +€151,684
up €151,684 (+13.6%), from €1.1m to €1.3m
of which Land and buildings: +€153,615
- Debts after one year +€168,280
up €168,280 (+29.6%), from €569,101 to €737,381
of which Other amounts payable: +€200,000
- Profit (loss) carried forward +€48,018
up €48,018 (+39.8%), from €120,571 to €168,589
- Current portion of long-term debt -€41,816
down €41,816 (-56.9%), from €73,536 to €31,720
- Gross operating margin +€20,904
up €20,904 (+18.0%), from €116,074 to €136,978
- Depreciation -€18,817
down €18,817 (-28.0%), from €67,133 to €48,316
- Financial charges -€13,765
down €13,765 (-63.9%), from €21,527 to €7,762
- Other operating charges +€4,834
up €4,834 (+13.0%), from €37,299 to €42,133
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,135,093 | €1,292,058 | +€156,965 | +13.8% |
| Fixed assets | 21/28 | €1,118,553 | €1,270,237 | +€151,684 | +13.6% |
| Tangible fixed assets | 22/27 | €1,118,553 | €1,270,237 | +€151,684 | +13.6% |
| Land and buildings | 22 | €1,116,622 | €1,270,237 | +€153,615 | +13.8% |
| Furniture and vehicles | 24 | €1,931 | - | -€1,931 | |
| Current assets | 29/58 | €16,540 | €21,821 | +€5,281 | +31.9% |
| Amounts receivable within one year | 40/41 | €13,149 | €13,149 | = | 0.0% |
| Other amounts receivable | 41 | €13,149 | €13,149 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,649 | €561 | -€2,088 | -78.8% |
| Deferred charges and accrued income | 490/1 | €742 | €8,111 | +€7,369 | +993.4% |
| Total equity and liabilities | 10/49 | €1,135,093 | €1,292,058 | +€156,965 | +13.8% |
| Equity | 10/15 | €300,920 | €336,448 | +€35,528 | +11.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €118,349 | €105,859 | -€12,490 | -10.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €112,149 | €99,659 | -€12,490 | -11.1% |
| Profit (loss) carried forward | 14 | €120,571 | €168,589 | +€48,018 | +39.8% |
| Provisions and deferred taxes | 16 | €57,748 | €51,317 | -€6,431 | -11.1% |
| Deferred taxes | 168 | €57,748 | €51,317 | -€6,431 | -11.1% |
| Amounts payable | 17/49 | €776,426 | €904,294 | +€127,868 | +16.5% |
| Amounts payable after more than one year | 17 | €569,101 | €737,381 | +€168,280 | +29.6% |
| Financial debts | 170/4 | €95,360 | €63,640 | -€31,720 | -33.3% |
| Other amounts payable | 178/9 | €473,741 | €673,741 | +€200,000 | +42.2% |
| Amounts payable within one year | 42/48 | €197,325 | €163,561 | -€33,764 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €73,536 | €31,720 | -€41,816 | -56.9% |
| Trade debts | 44 | €44,840 | €53,672 | +€8,832 | +19.7% |
| Suppliers | 440/4 | €44,840 | €53,672 | +€8,832 | +19.7% |
| Taxes, remuneration and social security | 45 | €5,680 | €3,680 | -€2,000 | -35.2% |
| Taxes | 450/3 | €5,680 | €3,680 | -€2,000 | -35.2% |
| Other amounts payable | 47/48 | €73,270 | €74,490 | +€1,220 | +1.7% |
| Accrued charges and deferred income | 492/3 | €10,000 | €3,352 | -€6,648 | -66.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,133 | €48,316 | -€18,817 | -28.0% |
| Other operating charges | 640/8 | €37,299 | €42,133 | +€4,834 | +13.0% |
| Gross operating margin | 9900 | €116,074 | €136,978 | +€20,904 | +18.0% |
| Operating profit (loss) | 9901 | €11,642 | €46,529 | +€34,887 | +299.7% |
| Financial charges | 65/66B | €21,527 | €7,762 | -€13,765 | -63.9% |
| Recurring financial charges | 65 | €21,527 | €7,762 | -€13,765 | -63.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,885 | €38,768 | +€48,652 | |
| Transfer from deferred taxes | 780 | €6,431 | €6,431 | = | 0.0% |
| Income taxes | 67/77 | €8,343 | €9,671 | +€1,328 | +15.9% |
| Profit (loss) for the period | 9904 | -€11,796 | €35,528 | +€47,324 | |
| Transfer from tax-exempt reserves | 789 | €12,490 | €12,490 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €694 | €48,018 | +€47,324 | +6817.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.