ELARA 12: 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.
ELARA 12
Largest movements
- Cash +€179,707
up €179,707 (+842%), from €21,340 to €201,047
mainly Net result for the year (+€193,150) and Tax, wage and social debts (+€42,773)
- Deferred charges and accrued income +€53,987
up €53,987 (+139%), from €38,830 to €92,817
- Tangible fixed assets -€10,663
down €10,663 (-70.8%), from €15,061 to €4,397
- Profit (loss) carried forward +€193,150
up €193,150 (+425%), from €45,478 to €238,628
- Tax, wage and social debts +€42,773
up €42,773 (+319%), from €13,429 to €56,201
- Other debts -€13,075
down €13,075 (-97.7%), from €13,378 to €302
- Gross operating margin +€205,906
up €205,906 (+351%), from €58,607 to €264,514
- Taxes +€48,020
up €48,020 (+406%), from €11,829 to €59,848
- Financial charges +€10,781
up €10,781 (+69,555%), from €16 to €10,796
of which Non-recurring financial charges: +€10,380
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 | €75,231 | €298,261 | +€223,031 | +296% |
| Fixed assets | 21/28 | €15,061 | €4,397 | -€10,663 | -70.8% |
| Tangible fixed assets | 22/27 | €15,061 | €4,397 | -€10,663 | -70.8% |
| Furniture and vehicles | 24 | €15,061 | €4,397 | -€10,663 | -70.8% |
| Current assets | 29/58 | €60,170 | €293,864 | +€233,694 | +388% |
| Cash at bank and in hand | 54/58 | €21,340 | €201,047 | +€179,707 | +842% |
| Deferred charges and accrued income | 490/1 | €38,830 | €92,817 | +€53,987 | +139% |
| Total equity and liabilities | 10/49 | €75,231 | €298,261 | +€223,031 | +296% |
| Equity | 10/15 | €47,978 | €241,128 | +€193,150 | +403% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,478 | €238,628 | +€193,150 | +425% |
| Amounts payable | 17/49 | €27,253 | €57,133 | +€29,880 | +110% |
| Amounts payable within one year | 42/48 | €26,806 | €57,133 | +€30,327 | +113% |
| Trade debts | 44 | - | €630 | +€630 | |
| Suppliers | 440/4 | - | €630 | +€630 | |
| Taxes, remuneration and social security | 45 | €13,429 | €56,201 | +€42,773 | +319% |
| Taxes | 450/3 | €13,429 | €56,201 | +€42,773 | +319% |
| Other amounts payable | 47/48 | €13,378 | €302 | -€13,075 | -97.7% |
| Accrued charges and deferred income | 492/3 | €447 | - | -€447 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,128 | €1,323 | +€195 | +17.3% |
| Other operating charges | 640/8 | €157 | €259 | +€102 | +65.1% |
| Gross operating margin | 9900 | €58,607 | €264,514 | +€205,906 | +351% |
| Operating profit (loss) | 9901 | €57,322 | €262,931 | +€205,609 | +359% |
| Financial income | 75/76B | - | €864 | +€864 | |
| Recurring financial income | 75 | - | €864 | +€864 | |
| Financial charges | 65/66B | €16 | €10,796 | +€10,781 | +69,555% |
| Recurring financial charges | 65 | €16 | €417 | +€401 | +2,588% |
| Non-recurring financial charges | 66B | - | €10,380 | +€10,380 | |
| Profit (loss) for the period before taxes | 9903 | €57,306 | €252,999 | +€195,692 | +341% |
| Income taxes | 67/77 | €11,829 | €59,848 | +€48,020 | +406% |
| Profit (loss) for the period | 9904 | €45,478 | €193,150 | +€147,673 | +325% |
| Profit (loss) for the period to be appropriated | 9905 | €45,478 | €193,150 | +€147,673 | +325% |
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 14 October 2026 via checked.be.