ELALCO: 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.
ELALCO
Largest movements
- Intangible fixed assets -€5,060
down €5,060 (-15.3%), from €33,090 to €28,030
- Accrued charges and deferred income -€25,662
down €25,662 (-97.7%), from €26,272 to €610
- Profit (loss) carried forward +€21,086
up €21,086 (+34.6%), from €60,912 to €81,998
- Debts after one year -€16,697
down €16,697 (-9.0%), from €185,028 to €168,331
- Other debts +€8,464
up €8,464 (+55.0%), from €15,383 to €23,847
- Current portion of long-term debt +€5,613
up €5,613 (+60.2%), from €9,330 to €14,944
- Gross operating margin +€96,079
up €96,079, from -€12,870 to €83,209
- Depreciation +€8,560
up €8,560 (+64.1%), from €13,351 to €21,911
- Financial charges +€7,945
up €7,945 (+136%), from €5,831 to €13,776
of which Financial charges: +€5,536
- Staff costs -€3,395
down €3,395 (-12.7%), from €26,782 to €23,387
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 | €396,951 | €392,213 | -€4,737 | -1.2% |
| Fixed assets | 21/28 | €110,395 | €106,139 | -€4,256 | -3.9% |
| Intangible fixed assets | 21 | €33,090 | €28,030 | -€5,060 | -15.3% |
| Tangible fixed assets | 22/27 | €77,305 | €78,108 | +€804 | +1.0% |
| Land and buildings | 22 | €55,771 | €64,274 | +€8,503 | +15.2% |
| Plant, machinery and equipment | 23 | €7,594 | €5,420 | -€2,174 | -28.6% |
| Furniture and vehicles | 24 | €13,940 | €8,415 | -€5,525 | -39.6% |
| Current assets | 29/58 | €286,556 | €286,075 | -€481 | -0.2% |
| Stocks and contracts in progress | 3 | €284,671 | €281,113 | -€3,558 | -1.2% |
| Stocks | 30/36 | €284,671 | €281,113 | -€3,558 | -1.2% |
| Amounts receivable within one year | 40/41 | €195 | €124 | -€71 | -36.3% |
| Trade receivables | 40 | €195 | €124 | -€71 | -36.3% |
| Cash at bank and in hand | 54/58 | €1,690 | €3,810 | +€2,121 | +125% |
| Deferred charges and accrued income | 490/1 | - | €1,027 | +€1,027 | |
| Total equity and liabilities | 10/49 | €396,951 | €392,213 | -€4,737 | -1.2% |
| Equity | 10/15 | €145,512 | €166,598 | +€21,086 | +14.5% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €78,000 | €78,000 | = | 0.0% |
| Distributable reserves | 133 | €78,000 | €78,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,912 | €81,998 | +€21,086 | +34.6% |
| Amounts payable | 17/49 | €251,439 | €225,615 | -€25,824 | -10.3% |
| Amounts payable after more than one year | 17 | €185,028 | €168,331 | -€16,697 | -9.0% |
| Financial debts | 170/4 | €185,028 | €168,331 | -€16,697 | -9.0% |
| Amounts payable within one year | 42/48 | €40,139 | €56,675 | +€16,536 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €9,330 | €14,944 | +€5,613 | +60.2% |
| Trade debts | 44 | €12,850 | €14,729 | +€1,879 | +14.6% |
| Suppliers | 440/4 | €12,850 | €14,729 | +€1,879 | +14.6% |
| Taxes, remuneration and social security | 45 | €2,576 | €3,156 | +€580 | +22.5% |
| Taxes | 450/3 | €0 | €586 | +€586 | |
| Remuneration and social security | 454/9 | €2,576 | €2,570 | -€6 | -0.2% |
| Other amounts payable | 47/48 | €15,383 | €23,847 | +€8,464 | +55.0% |
| Accrued charges and deferred income | 492/3 | €26,272 | €610 | -€25,662 | -97.7% |
| Remuneration, social security and pensions | 62 | €26,782 | €23,387 | -€3,395 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,351 | €21,911 | +€8,560 | +64.1% |
| Other operating charges | 640/8 | €493 | €1,296 | +€803 | +163% |
| Gross operating margin | 9900 | -€12,870 | €83,209 | +€96,079 | |
| Operating profit (loss) | 9901 | -€53,496 | €36,615 | +€90,111 | |
| Financial income | 75/76B | - | €550 | +€550 | |
| Recurring financial income | 75 | - | €550 | +€550 | |
| Non-recurring financial income | 76B | - | €550 | +€550 | |
| Financial charges | 65/66B | €5,831 | €13,776 | +€7,945 | +136% |
| Recurring financial charges | 65 | €5,831 | €11,367 | +€5,536 | +94.9% |
| Non-recurring financial charges | 66B | €5,831 | €2,409 | -€3,422 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | -€59,326 | €23,390 | +€82,716 | |
| Income taxes | 67/77 | - | €586 | +€586 | |
| Profit (loss) for the period | 9904 | -€59,326 | €22,804 | +€82,130 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,326 | €22,804 | +€82,130 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.