ELARCON: 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.
ELARCON
Largest movements
- Receivables within one year +€3.5m
up €3.5m (+502%), from €700,938 to €4.2m
of which Other amounts receivable: +€3.5m
- Financial fixed assets +€1.7m
up €1.7m (+30.6%), from €5.6m to €7.3m
- Other debts +€4.7m
up €4.7m (+887%), from €527,405 to €5.2m
- Reserves +€303,416
up €303,416 (+56.0%), from €542,162 to €845,579
- Accrued charges and deferred income +€126,274
up €126,274 (+4,943%), from €2,555 to €128,828
- Gross operating margin +€386,130
up €386,130 (+513%), from €75,325 to €461,455
- Financial income -€147,391
down €147,391 (-60.3%), from €244,328 to €96,938
- Financial charges +€124,430
up €124,430 (+2,527%), from €4,924 to €129,354
- Taxes +€91,174
up €91,174 (+581%), from €15,698 to €106,872
- Depreciation -€12,708
down €12,708 (-42.9%), from €29,652 to €16,944
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 | €6,506,292 | €11,683,486 | +€5.2m | +79.6% |
| Fixed assets | 21/28 | €5,594,791 | €7,275,847 | +€1.7m | +30.0% |
| Tangible fixed assets | 22/27 | €39,791 | €22,847 | -€16,944 | -42.6% |
| Furniture and vehicles | 24 | €39,791 | €22,847 | -€16,944 | -42.6% |
| Financial fixed assets | 28 | €5,555,000 | €7,253,000 | +€1.7m | +30.6% |
| Current assets | 29/58 | €911,501 | €4,407,639 | +€3.5m | +384% |
| Amounts receivable within one year | 40/41 | €700,938 | €4,217,641 | +€3.5m | +502% |
| Trade receivables | 40 | €12,350 | €12,350 | = | 0.0% |
| Other amounts receivable | 41 | €688,588 | €4,205,291 | +€3.5m | +511% |
| Cash at bank and in hand | 54/58 | €206,236 | €90,801 | -€115,435 | -56.0% |
| Deferred charges and accrued income | 490/1 | €4,328 | €99,198 | +€94,870 | +2,192% |
| Total equity and liabilities | 10/49 | €6,506,292 | €11,683,486 | +€5.2m | +79.6% |
| Equity | 10/15 | €554,562 | €857,979 | +€303,416 | +54.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €542,162 | €845,579 | +€303,416 | +56.0% |
| Distributable reserves | 133 | €542,162 | €845,579 | +€303,416 | +56.0% |
| Amounts payable | 17/49 | €5,951,730 | €10,825,508 | +€4.9m | +81.9% |
| Amounts payable after more than one year | 17 | €5,388,420 | €5,380,420 | -€8,000 | -0.1% |
| Financial debts | 170/4 | €5,388,420 | €5,380,420 | -€8,000 | -0.1% |
| Amounts payable within one year | 42/48 | €560,756 | €5,316,259 | +€4.8m | +848% |
| Current portion of amounts payable after more than one year | 42 | €14,588 | €0 | -€14,588 | -100% |
| Trade debts | 44 | €5,631 | €5,949 | +€318 | +5.6% |
| Suppliers | 440/4 | €5,631 | €5,949 | +€318 | +5.6% |
| Taxes, remuneration and social security | 45 | €13,132 | €106,872 | +€93,740 | +714% |
| Taxes | 450/3 | €9,681 | €106,872 | +€97,192 | +1,004% |
| Remuneration and social security | 454/9 | €3,452 | €0 | -€3,452 | -100% |
| Other amounts payable | 47/48 | €527,405 | €5,203,438 | +€4.7m | +887% |
| Accrued charges and deferred income | 492/3 | €2,555 | €128,828 | +€126,274 | +4,943% |
| Non-recurring operating income | 76A | €1,705 | €0 | -€1,705 | -100% |
| Remuneration, social security and pensions | 62 | €2,273 | €0 | -€2,273 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,652 | €16,944 | -€12,708 | -42.9% |
| Other operating charges | 640/8 | €1,744 | €769 | -€974 | -55.9% |
| Non-recurring operating charges | 66A | - | €1,036 | +€1,036 | |
| Gross operating margin | 9900 | €75,325 | €461,455 | +€386,130 | +513% |
| Operating profit (loss) | 9901 | €41,656 | €442,705 | +€401,049 | +963% |
| Financial income | 75/76B | €244,328 | €96,938 | -€147,391 | -60.3% |
| Recurring financial income | 75 | €244,328 | €96,938 | -€147,391 | -60.3% |
| Financial charges | 65/66B | €4,924 | €129,354 | +€124,430 | +2,527% |
| Recurring financial charges | 65 | €4,924 | €129,354 | +€124,430 | +2,527% |
| Profit (loss) for the period before taxes | 9903 | €281,060 | €410,289 | +€129,229 | +46.0% |
| Income taxes | 67/77 | €15,698 | €106,872 | +€91,174 | +581% |
| Profit (loss) for the period | 9904 | €265,362 | €303,416 | +€38,055 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €265,362 | €303,416 | +€38,055 | +14.3% |
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 22 October 2026 via checked.be.