ELAQ: 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.
ELAQ
Largest movements
- Tangible fixed assets -€819,402
down €819,402 (-61.7%), from €1.3m to €507,924
of which Land and buildings: -€818,045
- Current investments +€475,000
new in 2025: €475,000
- Receivables within one year +€185,399
up €185,399 (+568.0%), from €32,642 to €218,041
of which Other amounts receivable: +€179,236
- Cash +€179,774
up €179,774 (+143.5%), from €125,257 to €305,031
mainly Investment in fixed assets (net) (+€793,898) and Net result for the year (+€692,863)
- Reserves +€433,240
up €433,240 (+76.7%), from €564,909 to €998,149
- Other debts -€404,239
no longer reported in 2025 (was €404,239)
- Tax, wage and social debts +€130,960
up €130,960 (+3171.1%), from €4,130 to €135,090
- Debts after one year -€71,010
down €71,010 (-20.2%), from €350,829 to €279,819
- Current portion of long-term debt -€31,588
down €31,588 (-30.8%), from €102,598 to €71,010
- Gross operating margin +€843,797
up €843,797 (+404.5%), from €208,608 to €1.1m
- Taxes +€289,831
up €289,831 (+771.7%), from €37,559 to €327,390
- Depreciation -€23,162
down €23,162 (-47.6%), from €48,666 to €25,504
- Financial charges -€16,570
down €16,570 (-55.1%), from €30,063 to €13,492
- Financial income +€12,384
up €12,384 (+44771.3%), from €28 to €12,411
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 | €1,490,390 | €1,507,862 | +€17,472 | +1.2% |
| Fixed assets | 21/28 | €1,327,326 | €507,924 | -€819,402 | -61.7% |
| Tangible fixed assets | 22/27 | €1,327,326 | €507,924 | -€819,402 | -61.7% |
| Land and buildings | 22 | €1,322,201 | €504,156 | -€818,045 | -61.9% |
| Furniture and vehicles | 24 | €4,326 | €3,169 | -€1,157 | -26.8% |
| Other tangible fixed assets | 26 | €799 | €600 | -€199 | -24.9% |
| Current assets | 29/58 | €163,064 | €999,938 | +€836,874 | +513.2% |
| Amounts receivable within one year | 40/41 | €32,642 | €218,041 | +€185,399 | +568.0% |
| Trade receivables | 40 | €30,660 | €36,823 | +€6,163 | +20.1% |
| Other amounts receivable | 41 | €1,981 | €181,218 | +€179,236 | +9046.1% |
| Current investments | 50/53 | - | €475,000 | +€475,000 | |
| Cash at bank and in hand | 54/58 | €125,257 | €305,031 | +€179,774 | +143.5% |
| Deferred charges and accrued income | 490/1 | €5,165 | €1,866 | -€3,300 | -63.9% |
| Total equity and liabilities | 10/49 | €1,490,390 | €1,507,862 | +€17,472 | +1.2% |
| Equity | 10/15 | €583,509 | €1,016,749 | +€433,240 | +74.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €564,909 | €998,149 | +€433,240 | +76.7% |
| Distributable reserves | 133 | €564,909 | €998,149 | +€433,240 | +76.7% |
| Amounts payable | 17/49 | €906,881 | €491,113 | -€415,768 | -45.8% |
| Amounts payable after more than one year | 17 | €350,829 | €279,819 | -€71,010 | -20.2% |
| Financial debts | 170/4 | €350,829 | €279,819 | -€71,010 | -20.2% |
| Amounts payable within one year | 42/48 | €532,408 | €211,294 | -€321,114 | -60.3% |
| Current portion of amounts payable after more than one year | 42 | €102,598 | €71,010 | -€31,588 | -30.8% |
| Trade debts | 44 | €21,441 | €5,193 | -€16,248 | -75.8% |
| Suppliers | 440/4 | €21,441 | €5,193 | -€16,248 | -75.8% |
| Taxes, remuneration and social security | 45 | €4,130 | €135,090 | +€130,960 | +3171.1% |
| Taxes | 450/3 | €4,130 | €135,090 | +€130,960 | +3171.1% |
| Other amounts payable | 47/48 | €404,239 | - | -€404,239 | |
| Accrued charges and deferred income | 492/3 | €23,644 | - | -€23,644 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,666 | €25,504 | -€23,162 | -47.6% |
| Other operating charges | 640/8 | €8,452 | €5,567 | -€2,885 | -34.1% |
| Gross operating margin | 9900 | €208,608 | €1,052,405 | +€843,797 | +404.5% |
| Operating profit (loss) | 9901 | €151,490 | €1,021,334 | +€869,844 | +574.2% |
| Financial income | 75/76B | €28 | €12,411 | +€12,384 | +44771.3% |
| Recurring financial income | 75 | €28 | €12,411 | +€12,384 | +44771.3% |
| Financial charges | 65/66B | €30,063 | €13,492 | -€16,570 | -55.1% |
| Recurring financial charges | 65 | €30,063 | €13,492 | -€16,570 | -55.1% |
| Profit (loss) for the period before taxes | 9903 | €121,455 | €1,020,253 | +€898,798 | +740.0% |
| Income taxes | 67/77 | €37,559 | €327,390 | +€289,831 | +771.7% |
| Profit (loss) for the period | 9904 | €83,896 | €692,863 | +€608,967 | +725.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,896 | €692,863 | +€608,967 | +725.9% |
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 11 October 2026 via checked.be.