ELANO: 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.
ELANO
Largest movements
- Receivables within one year -€161,977
down €161,977 (-36.2%), from €447,535 to €285,558
of which Other amounts receivable: -€165,666
- Cash +€115,539
up €115,539 (+29.1%), from €397,155 to €512,694
mainly Receivables within one year (+€161,977) and Depreciation (+€64,911)
- Tangible fixed assets -€63,276
down €63,276 (-5.9%), from €1.1m to €1.0m
of which Land and buildings: -€51,478
- Deferred charges and accrued income +€45,000
new in 2025: €45,000
- Debts after one year -€59,981
down €59,981 (-8.3%), from €724,907 to €664,926
- Reserves +€21,944
up €21,944 (+2.1%), from €1.1m to €1.1m
of which Distributable reserves: +€33,441
- Other operating charges -€34,386
down €34,386 (-82.6%), from €41,629 to €7,243
- Financial income +€16,736
up €16,736 (+245%), from €6,821 to €23,557
of which Financial income: +€16,736
- Depreciation -€15,864
down €15,864 (-19.6%), from €80,775 to €64,911
- Taxes +€10,056
up €10,056 (+560%), from €1,796 to €11,852
- Gross operating margin -€6,420
down €6,420 (-6.6%), from €97,326 to €90,905
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 | €2,044,066 | €1,992,946 | -€51,120 | -2.5% |
| Fixed assets | 21/28 | €1,074,376 | €1,011,100 | -€63,276 | -5.9% |
| Tangible fixed assets | 22/27 | €1,074,376 | €1,011,100 | -€63,276 | -5.9% |
| Land and buildings | 22 | €1,061,172 | €1,009,694 | -€51,478 | -4.9% |
| Plant, machinery and equipment | 23 | €921 | €581 | -€340 | -36.9% |
| Furniture and vehicles | 24 | €12,283 | €825 | -€11,458 | -93.3% |
| Current assets | 29/58 | €969,690 | €981,846 | +€12,156 | +1.3% |
| Amounts receivable within one year | 40/41 | €447,535 | €285,558 | -€161,977 | -36.2% |
| Trade receivables | 40 | €120,000 | €123,689 | +€3,689 | +3.1% |
| Other amounts receivable | 41 | €327,535 | €161,869 | -€165,666 | -50.6% |
| Current investments | 50/53 | €125,000 | €138,595 | +€13,595 | +10.9% |
| Cash at bank and in hand | 54/58 | €397,155 | €512,694 | +€115,539 | +29.1% |
| Deferred charges and accrued income | 490/1 | - | €45,000 | +€45,000 | |
| Total equity and liabilities | 10/49 | €2,044,066 | €1,992,946 | -€51,120 | -2.5% |
| Equity | 10/15 | €1,130,672 | €1,152,615 | +€21,944 | +1.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,068,698 | €1,090,642 | +€21,944 | +2.1% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €206,946 | €195,449 | -€11,497 | -5.6% |
| Distributable reserves | 133 | €855,555 | €888,995 | +€33,441 | +3.9% |
| Provisions and deferred taxes | 16 | €106,609 | €100,686 | -€5,923 | -5.6% |
| Deferred taxes | 168 | €106,609 | €100,686 | -€5,923 | -5.6% |
| Amounts payable | 17/49 | €806,785 | €739,644 | -€67,141 | -8.3% |
| Amounts payable after more than one year | 17 | €724,907 | €664,926 | -€59,981 | -8.3% |
| Financial debts | 170/4 | €724,907 | €664,926 | -€59,981 | -8.3% |
| Amounts payable within one year | 42/48 | €81,878 | €74,718 | -€7,160 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €74,323 | €63,107 | -€11,216 | -15.1% |
| Trade debts | 44 | €243 | €11,611 | +€11,367 | +4,670% |
| Suppliers | 440/4 | €243 | €11,611 | +€11,367 | +4,670% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,311 | €0 | -€7,311 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,775 | €64,911 | -€15,864 | -19.6% |
| Other operating charges | 640/8 | €41,629 | €7,243 | -€34,386 | -82.6% |
| Gross operating margin | 9900 | €97,326 | €90,905 | -€6,420 | -6.6% |
| Operating profit (loss) | 9901 | -€25,078 | €18,752 | +€43,830 | |
| Financial income | 75/76B | €6,821 | €23,557 | +€16,736 | +245% |
| Recurring financial income | 75 | €6,821 | €23,557 | +€16,736 | +245% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €13,585 | €14,436 | +€852 | +6.3% |
| Recurring financial charges | 65 | €13,585 | €14,436 | +€852 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€31,842 | €27,873 | +€59,714 | |
| Transfer from deferred taxes | 780 | €5,923 | €5,923 | = | 0.0% |
| Income taxes | 67/77 | €1,796 | €11,852 | +€10,056 | +560% |
| Profit (loss) for the period | 9904 | -€27,715 | €21,944 | +€49,658 | |
| Transfer from tax-exempt reserves | 789 | €11,497 | €11,497 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,218 | €33,441 | +€49,658 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.