ELAND: 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.
ELAND
Largest movements
- Receivables after one year +€58,768
up €58,768 (+92.7%), from €63,408 to €122,176
- Tangible fixed assets +€7,463
up €7,463 (+39.8%), from €18,745 to €26,208
of which Plant, machinery and equipment: +€6,823
- Receivables within one year +€2,559
new in 2025: €2,559
- Trade debts +€56,956
up €56,956 (+52.8%), from €107,778 to €164,734
- Reserves +€14,016
up €14,016 (+103%), from €13,646 to €27,662
- Gross operating margin +€27,304
up €27,304 (+480%), from €5,686 to €32,990
- Taxes +€7,012
new in 2025: €7,012
- Staff costs +€4,819
new in 2025: €4,819
- Depreciation +€2,717
up €2,717 (+67.4%), from €4,032 to €6,750
- Other operating charges -€555
no longer reported in 2025 (was €555)
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 | €137,469 | €206,381 | +€68,912 | +50.1% |
| Fixed assets | 21/28 | €18,745 | €26,208 | +€7,463 | +39.8% |
| Tangible fixed assets | 22/27 | €18,745 | €26,208 | +€7,463 | +39.8% |
| Plant, machinery and equipment | 23 | €13,423 | €20,246 | +€6,823 | +50.8% |
| Furniture and vehicles | 24 | €3,871 | €4,827 | +€957 | +24.7% |
| Other tangible fixed assets | 26 | €1,452 | €1,135 | -€317 | -21.8% |
| Current assets | 29/58 | €118,724 | €180,173 | +€61,448 | +51.8% |
| Amounts receivable after more than one year | 29 | €63,408 | €122,176 | +€58,768 | +92.7% |
| Trade receivables | 290 | €63,408 | €122,176 | +€58,768 | +92.7% |
| Amounts receivable within one year | 40/41 | - | €2,559 | +€2,559 | |
| Other amounts receivable | 41 | - | €2,559 | +€2,559 | |
| Cash at bank and in hand | 54/58 | €55,317 | €55,438 | +€121 | +0.2% |
| Total equity and liabilities | 10/49 | €137,469 | €206,381 | +€68,912 | +50.1% |
| Equity | 10/15 | €19,146 | €33,162 | +€14,016 | +73.2% |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Reserves | 13 | €13,646 | €27,662 | +€14,016 | +103% |
| Distributable reserves | 133 | €13,646 | €27,662 | +€14,016 | +103% |
| Amounts payable | 17/49 | €118,323 | €173,219 | +€54,896 | +46.4% |
| Amounts payable within one year | 42/48 | €118,323 | €173,219 | +€54,896 | +46.4% |
| Trade debts | 44 | €107,778 | €164,734 | +€56,956 | +52.8% |
| Suppliers | 440/4 | €107,778 | €164,734 | +€56,956 | +52.8% |
| Taxes, remuneration and social security | 45 | €10,235 | €8,485 | -€1,750 | -17.1% |
| Taxes | 450/3 | €10,235 | €8,485 | -€1,750 | -17.1% |
| Other amounts payable | 47/48 | €310 | - | -€310 | |
| Remuneration, social security and pensions | 62 | - | €4,819 | +€4,819 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,032 | €6,750 | +€2,717 | +67.4% |
| Other operating charges | 640/8 | €555 | - | -€555 | |
| Gross operating margin | 9900 | €5,686 | €32,990 | +€27,304 | +480% |
| Operating profit (loss) | 9901 | €1,099 | €21,422 | +€20,323 | +1,849% |
| Financial charges | 65/66B | €307 | €394 | +€88 | +28.6% |
| Recurring financial charges | 65 | €307 | €394 | +€88 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €792 | €21,027 | +€20,235 | +2,554% |
| Income taxes | 67/77 | - | €7,012 | +€7,012 | |
| Profit (loss) for the period | 9904 | €792 | €14,016 | +€13,223 | +1,669% |
| Profit (loss) for the period to be appropriated | 9905 | €792 | €14,016 | +€13,223 | +1,669% |
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 13 October 2026 via checked.be.