ELAN IMMO: 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 IMMO
Largest movements
- Tangible fixed assets +€128,436
up €128,436 (+12.8%), from €1.0m to €1.1m
of which Furniture and vehicles: +€168,940
- Stocks and contracts +€102,673
up €102,673 (+59.4%), from €172,807 to €275,480
- Debts after one year +€284,803
up €284,803 (+23.5%), from €1.2m to €1.5m
of which Other amounts payable: +€300,000
- Advances received -€80,000
no longer reported in 2025 (was €80,000)
- Trade debts +€47,372
new in 2025: €47,372
- Gross operating margin +€73,500
up €73,500 (+93.3%), from €78,810 to €152,310
- Depreciation +€4,060
up €4,060 (+6.5%), from €62,504 to €66,564
- Financial charges +€3,886
up €3,886 (+5.6%), from €69,016 to €72,902
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 | €1,607,992 | €1,853,649 | +€245,658 | +15.3% |
| Fixed assets | 21/28 | €1,430,330 | €1,558,766 | +€128,436 | +9.0% |
| Tangible fixed assets | 22/27 | €1,005,330 | €1,133,766 | +€128,436 | +12.8% |
| Land and buildings | 22 | €939,330 | €898,827 | -€40,504 | -4.3% |
| Furniture and vehicles | 24 | €66,000 | €234,940 | +€168,940 | +256.0% |
| Financial fixed assets | 28 | €425,000 | €425,000 | = | 0.0% |
| Current assets | 29/58 | €177,661 | €294,883 | +€117,222 | +66.0% |
| Stocks and contracts in progress | 3 | €172,807 | €275,480 | +€102,673 | +59.4% |
| Stocks | 30/36 | €172,807 | €275,480 | +€102,673 | +59.4% |
| Amounts receivable within one year | 40/41 | - | €17,181 | +€17,181 | |
| Other amounts receivable | 41 | - | €17,181 | +€17,181 | |
| Cash at bank and in hand | 54/58 | €4,854 | €2,222 | -€2,632 | -54.2% |
| Total equity and liabilities | 10/49 | €1,607,992 | €1,853,649 | +€245,658 | +15.3% |
| Equity | 10/15 | €202,691 | €209,415 | +€6,724 | +3.3% |
| Contributions | 10/11 | €72,188 | €72,188 | = | 0.0% |
| Revaluation surpluses | 12 | €23,998 | €23,998 | = | 0.0% |
| Reserves | 13 | €106,505 | €113,229 | +€6,724 | +6.3% |
| Tax-exempt reserves | 132 | €157 | €157 | = | 0.0% |
| Distributable reserves | 133 | €106,348 | €113,072 | +€6,724 | +6.3% |
| Amounts payable | 17/49 | €1,405,301 | €1,644,234 | +€238,933 | +17.0% |
| Amounts payable after more than one year | 17 | €1,209,423 | €1,494,225 | +€284,803 | +23.5% |
| Financial debts | 170/4 | €509,423 | €494,225 | -€15,197 | -3.0% |
| Other amounts payable | 178/9 | €700,000 | €1,000,000 | +€300,000 | +42.9% |
| Amounts payable within one year | 42/48 | €194,878 | €148,759 | -€46,119 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €48,708 | €48,531 | -€178 | -0.4% |
| Trade debts | 44 | - | €47,372 | +€47,372 | |
| Suppliers | 440/4 | - | €47,372 | +€47,372 | |
| Advances received on contracts in progress | 46 | €80,000 | - | -€80,000 | |
| Taxes, remuneration and social security | 45 | €17,797 | €19,114 | +€1,317 | +7.4% |
| Taxes | 450/3 | €17,797 | €19,114 | +€1,317 | +7.4% |
| Other amounts payable | 47/48 | €48,373 | €33,743 | -€14,630 | -30.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,250 | +€250 | +25.0% |
| Non-recurring operating income | 76A | €2,415 | - | -€2,415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,504 | €66,564 | +€4,060 | +6.5% |
| Other operating charges | 640/8 | €5,352 | €5,474 | +€122 | +2.3% |
| Non-recurring operating charges | 66A | €2,415 | - | -€2,415 | |
| Gross operating margin | 9900 | €78,810 | €152,310 | +€73,500 | +93.3% |
| Operating profit (loss) | 9901 | €8,540 | €80,272 | +€71,732 | +840.0% |
| Financial charges | 65/66B | €69,016 | €72,902 | +€3,886 | +5.6% |
| Recurring financial charges | 65 | €69,016 | €72,902 | +€3,886 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | -€60,477 | €7,370 | +€67,846 | |
| Income taxes | 67/77 | €664 | €645 | -€19 | -2.9% |
| Profit (loss) for the period | 9904 | -€61,141 | €6,724 | +€67,865 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,141 | €6,724 | +€67,865 |
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 10 October 2026 via checked.be.