ELAR: what changed
Two fiscal 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.
ELAR
Largest movements
- Receivables within one year +€29,426
up €29,426 (+48.4%), from €60,788 to €90,214
of which Trade receivables: +€24,644
- Cash +€12,942
up €12,942 (+48.8%), from €26,544 to €39,486
mainly Net result for the year (+€34,536) and Tax, wage and social debts (+€6,659)
- Deferred charges and accrued income +€2,135
up €2,135 (+322.9%), from €661 to €2,796
- Tangible fixed assets +€2,077
up €2,077 (+16.0%), from €13,019 to €15,096
of which Furniture and vehicles: +€3,402
- Reserves +€34,536
up €34,536 (+64.6%), from €53,472 to €88,008
of which Distributable reserves: +€34,536
- Tax, wage and social debts +€6,659
up €6,659 (+23.2%), from €28,700 to €35,359
- Trade debts +€4,388
up €4,388 (+75.1%), from €5,846 to €10,234
- Gross operating margin +€36,924
up €36,924 (+223.6%), from €16,513 to €53,437
- Taxes +€10,382
up €10,382 (+182.6%), from €5,685 to €16,066
- Financial income +€2,228
new in 2025: €2,228
- Other operating charges -€654
down €654 (-28.7%), from €2,279 to €1,625
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 | €101,012 | €147,591 | +€46,579 | +46.1% |
| Fixed assets | 21/28 | €13,019 | €15,096 | +€2,077 | +16.0% |
| Tangible fixed assets | 22/27 | €13,019 | €15,096 | +€2,077 | +16.0% |
| Land and buildings | 22 | €5,285 | €4,496 | -€789 | -14.9% |
| Plant, machinery and equipment | 23 | €1,877 | €1,340 | -€537 | -28.6% |
| Furniture and vehicles | 24 | €5,857 | €9,260 | +€3,402 | +58.1% |
| Current assets | 29/58 | €87,993 | €132,496 | +€44,502 | +50.6% |
| Amounts receivable within one year | 40/41 | €60,788 | €90,214 | +€29,426 | +48.4% |
| Trade receivables | 40 | €22,066 | €46,710 | +€24,644 | +111.7% |
| Other amounts receivable | 41 | €38,723 | €43,504 | +€4,782 | +12.3% |
| Cash at bank and in hand | 54/58 | €26,544 | €39,486 | +€12,942 | +48.8% |
| Deferred charges and accrued income | 490/1 | €661 | €2,796 | +€2,135 | +322.9% |
| Total equity and liabilities | 10/49 | €101,012 | €147,591 | +€46,579 | +46.1% |
| Equity | 10/15 | €65,880 | €100,416 | +€34,536 | +52.4% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €53,472 | €88,008 | +€34,536 | +64.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €51,612 | €86,148 | +€34,536 | +66.9% |
| Amounts payable | 17/49 | €35,132 | €47,175 | +€12,043 | +34.3% |
| Amounts payable within one year | 42/48 | €34,546 | €45,593 | +€11,048 | +32.0% |
| Trade debts | 44 | €5,846 | €10,234 | +€4,388 | +75.1% |
| Suppliers | 440/4 | €5,846 | €10,234 | +€4,388 | +75.1% |
| Taxes, remuneration and social security | 45 | €28,700 | €35,359 | +€6,659 | +23.2% |
| Taxes | 450/3 | €28,700 | €35,359 | +€6,659 | +23.2% |
| Accrued charges and deferred income | 492/3 | €586 | €1,582 | +€996 | +169.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,624 | €2,716 | +€92 | +3.5% |
| Other operating charges | 640/8 | €2,279 | €1,625 | -€654 | -28.7% |
| Gross operating margin | 9900 | €16,513 | €53,437 | +€36,924 | +223.6% |
| Operating profit (loss) | 9901 | €11,610 | €49,095 | +€37,486 | +322.9% |
| Financial income | 75/76B | - | €2,228 | +€2,228 | |
| Recurring financial income | 75 | - | €2,228 | +€2,228 | |
| Financial charges | 65/66B | €826 | €721 | -€105 | -12.7% |
| Recurring financial charges | 65 | €826 | €721 | -€105 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €10,784 | €50,602 | +€39,818 | +369.2% |
| Income taxes | 67/77 | €5,685 | €16,066 | +€10,382 | +182.6% |
| Profit (loss) for the period | 9904 | €5,099 | €34,536 | +€29,437 | +577.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,099 | €34,536 | +€29,437 | +577.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.