ELANOR: 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.
ELANOR
Largest movements
- Tangible fixed assets +€27,546
new in 2025: €27,546
- Receivables within one year +€12,814
up €12,814 (+517.1%), from €2,478 to €15,291
of which Trade receivables: +€12,432
- Cash -€10,135
down €10,135 (-60.8%), from €16,683 to €6,548
mainly Investment in fixed assets (net) (-€31,013) and Receivables within one year (-€12,814)
- Profit (loss) carried forward +€27,020
up €27,020 (+1785.8%), from €1,513 to €28,533
- Tax, wage and social debts +€4,134
up €4,134 (+96.2%), from €4,296 to €8,430
of which Taxes: +€4,127
- Trade debts -€528
down €528 (-29.6%), from €1,786 to €1,258
- Gross operating margin +€35,916
up €35,916 (+1581.8%), from €2,271 to €38,187
- Taxes +€6,749
up €6,749 (+890.9%), from €758 to €7,507
- Depreciation +€3,467
new in 2025: €3,467
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 | €19,161 | €49,788 | +€30,627 | +159.8% |
| Fixed assets | 21/28 | - | €27,546 | +€27,546 | |
| Tangible fixed assets | 22/27 | - | €27,546 | +€27,546 | |
| Furniture and vehicles | 24 | - | €27,546 | +€27,546 | |
| Current assets | 29/58 | €19,161 | €22,242 | +€3,081 | +16.1% |
| Amounts receivable within one year | 40/41 | €2,478 | €15,291 | +€12,814 | +517.1% |
| Trade receivables | 40 | €2,366 | €14,798 | +€12,432 | +525.5% |
| Other amounts receivable | 41 | €112 | €493 | +€381 | +340.8% |
| Cash at bank and in hand | 54/58 | €16,683 | €6,548 | -€10,135 | -60.8% |
| Deferred charges and accrued income | 490/1 | - | €403 | +€403 | |
| Total equity and liabilities | 10/49 | €19,161 | €49,788 | +€30,627 | +159.8% |
| Equity | 10/15 | €11,513 | €38,533 | +€27,020 | +234.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,513 | €28,533 | +€27,020 | +1785.8% |
| Amounts payable | 17/49 | €7,648 | €11,255 | +€3,607 | +47.2% |
| Amounts payable within one year | 42/48 | €6,082 | €9,688 | +€3,606 | +59.3% |
| Trade debts | 44 | €1,786 | €1,258 | -€528 | -29.6% |
| Suppliers | 440/4 | €1,786 | €1,258 | -€528 | -29.6% |
| Taxes, remuneration and social security | 45 | €4,296 | €8,430 | +€4,134 | +96.2% |
| Taxes | 450/3 | €2,313 | €6,440 | +€4,127 | +178.4% |
| Remuneration and social security | 454/9 | €1,983 | €1,990 | +€7 | +0.3% |
| Accrued charges and deferred income | 492/3 | €1,566 | €1,567 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,467 | +€3,467 | |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | €2,271 | €38,187 | +€35,916 | +1581.8% |
| Operating profit (loss) | 9901 | €2,271 | €34,592 | +€32,322 | +1423.5% |
| Financial charges | 65/66B | - | €65 | +€65 | |
| Recurring financial charges | 65 | - | €65 | +€65 | |
| Profit (loss) for the period before taxes | 9903 | €2,271 | €34,527 | +€32,256 | +1420.6% |
| Income taxes | 67/77 | €758 | €7,507 | +€6,749 | +890.9% |
| Profit (loss) for the period | 9904 | €1,513 | €27,020 | +€25,507 | +1685.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,513 | €27,020 | +€25,507 | +1685.8% |
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.