ELAT EM ENGINEERING: 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.
ELAT EM ENGINEERING
Largest movements
- Receivables within one year -€22,478
down €22,478 (-88.5%), from €25,399 to €2,921
of which Trade receivables: -€20,947
- Tangible fixed assets +€12,578
up €12,578 (+90.6%), from €13,880 to €26,458
of which Furniture and vehicles: +€10,511
- Cash +€11,754
up €11,754 (+693.8%), from €1,694 to €13,448
mainly Receivables within one year (+€22,478) and Depreciation (+€14,550)
- Intangible fixed assets +€9,293
new in 2025: €9,293
- Reserves +€9,809
up €9,809 (+37.9%), from €25,890 to €35,699
- Tax, wage and social debts +€6,844
up €6,844 (+86.9%), from €7,879 to €14,722
- Trade debts -€5,365
down €5,365 (-86.5%), from €6,205 to €841
- Depreciation +€10,341
up €10,341 (+245.7%), from €4,209 to €14,550
- Staff costs +€9,422
new in 2025: €9,422
- Taxes -€3,486
down €3,486 (-44.3%), from €7,875 to €4,388
- Gross operating margin +€1,472
up €1,472 (+3.8%), from €38,420 to €39,892
- Other operating charges +€1,304
up €1,304 (+359.0%), from €363 to €1,667
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 | €40,973 | €52,262 | +€11,288 | +27.6% |
| Fixed assets | 21/28 | €13,880 | €35,751 | +€21,871 | +157.6% |
| Intangible fixed assets | 21 | - | €9,293 | +€9,293 | |
| Tangible fixed assets | 22/27 | €13,880 | €26,458 | +€12,578 | +90.6% |
| Plant, machinery and equipment | 23 | - | €2,067 | +€2,067 | |
| Furniture and vehicles | 24 | €13,880 | €24,391 | +€10,511 | +75.7% |
| Current assets | 29/58 | €27,093 | €16,511 | -€10,583 | -39.1% |
| Amounts receivable within one year | 40/41 | €25,399 | €2,921 | -€22,478 | -88.5% |
| Trade receivables | 40 | €22,361 | €1,414 | -€20,947 | -93.7% |
| Other amounts receivable | 41 | €3,038 | €1,508 | -€1,531 | -50.4% |
| Cash at bank and in hand | 54/58 | €1,694 | €13,448 | +€11,754 | +693.8% |
| Deferred charges and accrued income | 490/1 | - | €141 | +€141 | |
| Total equity and liabilities | 10/49 | €40,973 | €52,262 | +€11,288 | +27.6% |
| Equity | 10/15 | €26,890 | €36,699 | +€9,809 | +36.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €25,890 | €35,699 | +€9,809 | +37.9% |
| Distributable reserves | 133 | €25,890 | €35,699 | +€9,809 | +37.9% |
| Amounts payable | 17/49 | €14,084 | €15,563 | +€1,479 | +10.5% |
| Amounts payable within one year | 42/48 | €14,084 | €15,563 | +€1,479 | +10.5% |
| Trade debts | 44 | €6,205 | €841 | -€5,365 | -86.5% |
| Suppliers | 440/4 | €6,205 | €841 | -€5,365 | -86.5% |
| Taxes, remuneration and social security | 45 | €7,879 | €14,722 | +€6,844 | +86.9% |
| Taxes | 450/3 | €7,879 | €14,722 | +€6,844 | +86.9% |
| Remuneration, social security and pensions | 62 | - | €9,422 | +€9,422 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,209 | €14,550 | +€10,341 | +245.7% |
| Other operating charges | 640/8 | €363 | €1,667 | +€1,304 | +359.0% |
| Gross operating margin | 9900 | €38,420 | €39,892 | +€1,472 | +3.8% |
| Operating profit (loss) | 9901 | €33,847 | €14,252 | -€19,595 | -57.9% |
| Financial income | 75/76B | €32 | €60 | +€28 | +87.1% |
| Recurring financial income | 75 | €32 | €60 | +€28 | +87.1% |
| Financial charges | 65/66B | €115 | €115 | -€0 | -0.1% |
| Recurring financial charges | 65 | €115 | €115 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €33,764 | €14,197 | -€19,567 | -58.0% |
| Income taxes | 67/77 | €7,875 | €4,388 | -€3,486 | -44.3% |
| Profit (loss) for the period | 9904 | €25,890 | €9,809 | -€16,080 | -62.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,890 | €9,809 | -€16,080 | -62.1% |
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 12 October 2026 via checked.be.