ELAN: what changed
You see two financial years side by side: 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 +€458,613
up €458,613 (+87.1%), from €526,753 to €985,366
of which Land and buildings: +€460,070
- Cash -€31,979
down €31,979 (-47.7%), from €66,980 to €35,001
mainly Investment in fixed assets (net) (-€549,085) and Receivables within one year (-€17,891)
- Debts after one year +€251,858
up €251,858 (+113%), from €222,495 to €474,353
- Other debts +€125,519
up €125,519 (+31.3%), from €401,606 to €527,124
- Current portion of long-term debt +€45,190
up €45,190 (+56.0%), from €80,729 to €125,919
- Depreciation +€66,113
up €66,113 (+271%), from €24,359 to €90,472
- Taxes -€25,538
down €25,538 (-91.3%), from €27,982 to €2,444
- Financial charges +€19,383
up €19,383 (+63.5%), from €30,532 to €49,915
- Financial income -€4,312
down €4,312 (-100.0%), from €4,313 to €1
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 | €1,400,196 | €1,843,660 | +€443,464 | +31.7% |
| Fixed assets | 21/28 | €1,248,902 | €1,707,515 | +€458,613 | +36.7% |
| Tangible fixed assets | 22/27 | €526,753 | €985,366 | +€458,613 | +87.1% |
| Land and buildings | 22 | €522,310 | €982,380 | +€460,070 | +88.1% |
| Plant, machinery and equipment | 23 | €2,947 | €2,238 | -€709 | -24.0% |
| Furniture and vehicles | 24 | €1,496 | €748 | -€748 | -50.0% |
| Financial fixed assets | 28 | €722,149 | €722,149 | = | 0.0% |
| Current assets | 29/58 | €151,294 | €136,145 | -€15,149 | -10.0% |
| Amounts receivable within one year | 40/41 | €77,954 | €95,845 | +€17,891 | +23.0% |
| Trade receivables | 40 | €7,013 | €2,845 | -€4,168 | -59.4% |
| Other amounts receivable | 41 | €70,941 | €93,000 | +€22,059 | +31.1% |
| Cash at bank and in hand | 54/58 | €66,980 | €35,001 | -€31,979 | -47.7% |
| Deferred charges and accrued income | 490/1 | €6,359 | €5,299 | -€1,061 | -16.7% |
| Total equity and liabilities | 10/49 | €1,400,196 | €1,843,660 | +€443,464 | +31.7% |
| Equity | 10/15 | €661,951 | €662,219 | +€269 | 0.0% |
| Contributions | 10/11 | €269,000 | €269,000 | = | 0.0% |
| Reserves | 13 | €387,037 | €387,306 | +€269 | +0.1% |
| Tax-exempt reserves | 132 | €66,195 | €66,195 | = | 0.0% |
| Distributable reserves | 133 | €320,842 | €321,111 | +€269 | +0.1% |
| Profit (loss) carried forward | 14 | €5,914 | €5,914 | = | 0.0% |
| Amounts payable | 17/49 | €738,245 | €1,181,440 | +€443,195 | +60.0% |
| Amounts payable after more than one year | 17 | €222,495 | €474,353 | +€251,858 | +113% |
| Financial debts | 170/4 | €222,495 | €474,353 | +€251,858 | +113% |
| Amounts payable within one year | 42/48 | €485,137 | €659,122 | +€173,985 | +35.9% |
| Current portion of amounts payable after more than one year | 42 | €80,729 | €125,919 | +€45,190 | +56.0% |
| Trade debts | 44 | €524 | €1,090 | +€566 | +108% |
| Suppliers | 440/4 | €524 | €1,090 | +€566 | +108% |
| Taxes, remuneration and social security | 45 | €2,278 | €4,988 | +€2,710 | +119% |
| Taxes | 450/3 | €2,278 | €4,988 | +€2,710 | +119% |
| Other amounts payable | 47/48 | €401,606 | €527,124 | +€125,519 | +31.3% |
| Accrued charges and deferred income | 492/3 | €30,613 | €47,965 | +€17,352 | +56.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,359 | €90,472 | +€66,113 | +271% |
| Other operating charges | 640/8 | €6,084 | €5,396 | -€688 | -11.3% |
| Gross operating margin | 9900 | €147,611 | €148,495 | +€884 | +0.6% |
| Operating profit (loss) | 9901 | €117,168 | €52,627 | -€64,542 | -55.1% |
| Financial income | 75/76B | €4,313 | €1 | -€4,312 | -100.0% |
| Recurring financial income | 75 | €4,313 | €1 | -€4,312 | -100.0% |
| Financial charges | 65/66B | €30,532 | €49,915 | +€19,383 | +63.5% |
| Recurring financial charges | 65 | €30,532 | €49,915 | +€19,383 | +63.5% |
| Profit (loss) for the period before taxes | 9903 | €90,949 | €2,713 | -€88,236 | -97.0% |
| Income taxes | 67/77 | €27,982 | €2,444 | -€25,538 | -91.3% |
| Profit (loss) for the period | 9904 | €62,967 | €269 | -€62,698 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,967 | €269 | -€62,698 | -99.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.