ELAWA: 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.
ELAWA
Largest movements
- Cash +€27,459
up €27,459 (+163%), from €16,862 to €44,321
mainly Receivables within one year (+€10,340) and Net result for the year (+€5,608)
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€9,641
up €9,641 (+11,679%), from €83 to €9,724
- Gross operating margin +€8,661
up €8,661 (+62.7%), from €13,812 to €22,473
- Financial income -€2,054
down €2,054 (-54.2%), from €3,786 to €1,732
- Taxes -€683
down €683 (-21.8%), from €3,139 to €2,456
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 | €1,487,186 | €1,501,355 | +€14,169 | +1.0% |
| Fixed assets | 21/28 | €1,344,926 | €1,340,951 | -€3,975 | -0.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €37,926 | €33,951 | -€3,975 | -10.5% |
| Land and buildings | 22 | €35,938 | €32,229 | -€3,709 | -10.3% |
| Plant, machinery and equipment | 23 | €498 | €249 | -€249 | -50.0% |
| Furniture and vehicles | 24 | €1,491 | €1,473 | -€18 | -1.2% |
| Financial fixed assets | 28 | €1,307,000 | €1,307,000 | = | 0.0% |
| Current assets | 29/58 | €142,260 | €160,404 | +€18,144 | +12.8% |
| Amounts receivable within one year | 40/41 | €25,080 | €14,740 | -€10,340 | -41.2% |
| Trade receivables | 40 | €23,542 | €11,677 | -€11,865 | -50.4% |
| Other amounts receivable | 41 | €1,539 | €3,064 | +€1,525 | +99.1% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,862 | €44,321 | +€27,459 | +163% |
| Deferred charges and accrued income | 490/1 | €317 | €1,342 | +€1,025 | +323% |
| Total equity and liabilities | 10/49 | €1,487,186 | €1,501,355 | +€14,169 | +1.0% |
| Equity | 10/15 | €1,362,560 | €1,368,168 | +€5,608 | +0.4% |
| Contributions | 10/11 | €888,176 | €888,176 | = | 0.0% |
| Reserves | 13 | €474,384 | €479,992 | +€5,608 | +1.2% |
| Tax-exempt reserves | 132 | €2,709 | €2,709 | = | 0.0% |
| Distributable reserves | 133 | €471,675 | €477,283 | +€5,608 | +1.2% |
| Amounts payable | 17/49 | €124,626 | €133,187 | +€8,560 | +6.9% |
| Amounts payable after more than one year | 17 | €112,000 | €112,000 | = | 0.0% |
| Other amounts payable | 178/9 | €112,000 | €112,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €12,626 | €21,187 | +€8,560 | +67.8% |
| Trade debts | 44 | €4,137 | €3,585 | -€552 | -13.3% |
| Suppliers | 440/4 | €4,137 | €3,585 | -€552 | -13.3% |
| Taxes, remuneration and social security | 45 | €1,016 | €5,353 | +€4,337 | +427% |
| Taxes | 450/3 | €1,016 | €5,353 | +€4,337 | +427% |
| Other amounts payable | 47/48 | €7,473 | €12,248 | +€4,775 | +63.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,437 | €4,650 | +€213 | +4.8% |
| Other operating charges | 640/8 | €1,911 | €1,767 | -€144 | -7.5% |
| Gross operating margin | 9900 | €13,812 | €22,473 | +€8,661 | +62.7% |
| Operating profit (loss) | 9901 | €7,463 | €16,056 | +€8,592 | +115% |
| Financial income | 75/76B | €3,786 | €1,732 | -€2,054 | -54.2% |
| Recurring financial income | 75 | €3,786 | €1,732 | -€2,054 | -54.2% |
| Financial charges | 65/66B | €83 | €9,724 | +€9,641 | +11,679% |
| Recurring financial charges | 65 | €83 | €9,724 | +€9,641 | +11,679% |
| Profit (loss) for the period before taxes | 9903 | €11,167 | €8,064 | -€3,103 | -27.8% |
| Income taxes | 67/77 | €3,139 | €2,456 | -€683 | -21.8% |
| Profit (loss) for the period | 9904 | €8,028 | €5,608 | -€2,420 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,028 | €5,608 | -€2,420 | -30.1% |
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 14 October 2026 via checked.be.