ELAN: 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.
ELAN
Largest movements
- Tangible fixed assets -€11,545
down €11,545 (-31.8%), from €36,295 to €24,750
of which Plant, machinery and equipment: -€5,895
- Cash -€6,768
down €6,768 (-10.9%), from €62,002 to €55,234
mainly Debts after one year (-€6,171) and Net result for the year (-€5,714)
- Receivables within one year +€3,436
up €3,436 (+5.9%), from €57,872 to €61,308
of which Other amounts receivable: +€3,436
- Debts after one year -€6,171
down €6,171 (-54.0%), from €11,436 to €5,265
- Reserves -€3,858
down €3,858 (-3.5%), from €111,024 to €107,167
of which Distributable reserves: -€3,858
- Trade debts -€3,312
down €3,312 (-44.6%), from €7,423 to €4,111
- Gross operating margin -€16,788
down €16,788 (-73.4%), from €22,879 to €6,091
- Taxes -€4,381
down €4,381 (-96.1%), from €4,560 to €178
- Depreciation +€3,160
up €3,160 (+37.7%), from €8,385 to €11,545
- Financial income -€591
down €591 (-13.4%), from €4,404 to €3,812
- Financial charges -€267
down €267 (-22.6%), from €1,182 to €915
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 | €194,443 | €179,011 | -€15,432 | -7.9% |
| Fixed assets | 21/28 | €36,295 | €24,750 | -€11,545 | -31.8% |
| Tangible fixed assets | 22/27 | €36,295 | €24,750 | -€11,545 | -31.8% |
| Land and buildings | 22 | €11,300 | €5,650 | -€5,650 | -50.0% |
| Plant, machinery and equipment | 23 | €24,995 | €19,100 | -€5,895 | -23.6% |
| Current assets | 29/58 | €158,148 | €154,261 | -€3,887 | -2.5% |
| Amounts receivable after more than one year | 29 | €18,000 | €18,000 | = | 0.0% |
| Other amounts receivable | 291 | €18,000 | €18,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €57,872 | €61,308 | +€3,436 | +5.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €57,872 | €61,308 | +€3,436 | +5.9% |
| Cash at bank and in hand | 54/58 | €62,002 | €55,234 | -€6,768 | -10.9% |
| Deferred charges and accrued income | 490/1 | €20,275 | €19,719 | -€556 | -2.7% |
| Total equity and liabilities | 10/49 | €194,443 | €179,011 | -€15,432 | -7.9% |
| Equity | 10/15 | €125,276 | €119,561 | -€5,714 | -4.6% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €111,024 | €107,167 | -€3,858 | -3.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €109,164 | €105,307 | -€3,858 | -3.5% |
| Profit (loss) carried forward | 14 | €1,857 | €0 | -€1,857 | -100.0% |
| Provisions and deferred taxes | 16 | €32,709 | €32,709 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €32,709 | €32,709 | = | 0.0% |
| Pensions and similar obligations | 160 | €32,709 | €32,709 | = | 0.0% |
| Amounts payable | 17/49 | €36,458 | €26,741 | -€9,717 | -26.7% |
| Amounts payable after more than one year | 17 | €11,436 | €5,265 | -€6,171 | -54.0% |
| Financial debts | 170/4 | €11,436 | €5,265 | -€6,171 | -54.0% |
| Amounts payable within one year | 42/48 | €19,099 | €14,915 | -€4,184 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €8,559 | €8,703 | +€145 | +1.7% |
| Trade debts | 44 | €7,423 | €4,111 | -€3,312 | -44.6% |
| Suppliers | 440/4 | €7,423 | €4,111 | -€3,312 | -44.6% |
| Taxes, remuneration and social security | 45 | €3,118 | €2,100 | -€1,018 | -32.6% |
| Taxes | 450/3 | €3,118 | €2,100 | -€1,018 | -32.6% |
| Accrued charges and deferred income | 492/3 | €5,923 | €6,561 | +€638 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,385 | €11,545 | +€3,160 | +37.7% |
| Other operating charges | 640/8 | €2,981 | €2,980 | -€1 | 0.0% |
| Gross operating margin | 9900 | €22,879 | €6,091 | -€16,788 | -73.4% |
| Operating profit (loss) | 9901 | €11,513 | -€8,433 | -€19,947 | |
| Financial income | 75/76B | €4,404 | €3,812 | -€591 | -13.4% |
| Recurring financial income | 75 | €4,404 | €3,812 | -€591 | -13.4% |
| Financial charges | 65/66B | €1,182 | €915 | -€267 | -22.6% |
| Recurring financial charges | 65 | €1,182 | €915 | -€267 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €14,735 | -€5,536 | -€20,271 | |
| Income taxes | 67/77 | €4,560 | €178 | -€4,381 | -96.1% |
| Profit (loss) for the period | 9904 | €10,176 | -€5,714 | -€15,890 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,176 | -€5,714 | -€15,890 |
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 9 October 2026 via checked.be.