ELB: 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.
ELB
Largest movements
- Cash +€13,982
up €13,982 (+3362.4%), from €416 to €14,398
mainly Net result for the year (+€36,732) and Depreciation (+€7,849)
- Stocks and contracts +€8,828
new in 2025: €8,828
- Tangible fixed assets -€7,849
down €7,849 (-30.3%), from €25,940 to €18,090
of which Furniture and vehicles: -€7,450
- Receivables within one year -€1,590
down €1,590 (-16.5%), from €9,634 to €8,044
of which Trade receivables: -€856
- Profit (loss) carried forward +€36,606
up €36,606, from -€36,606 to €0
- Other debts -€18,892
down €18,892 (-39.4%), from €47,967 to €29,075
- Tax, wage and social debts -€3,174
down €3,174 (-31.0%), from €10,233 to €7,059
of which Remuneration and social security: -€3,182
- Trade debts -€1,295
no longer reported in 2025 (was €1,295)
- Gross operating margin +€73,803
up €73,803, from -€28,252 to €45,551
- Other operating charges -€644
down €644 (-63.6%), from €1,012 to €368
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 | €36,389 | €49,760 | +€13,371 | +36.7% |
| Fixed assets | 21/28 | €26,340 | €18,490 | -€7,849 | -29.8% |
| Tangible fixed assets | 22/27 | €25,940 | €18,090 | -€7,849 | -30.3% |
| Plant, machinery and equipment | 23 | €1,434 | €1,034 | -€399 | -27.9% |
| Furniture and vehicles | 24 | €24,506 | €17,056 | -€7,450 | -30.4% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €10,050 | €31,270 | +€21,220 | +211.2% |
| Stocks and contracts in progress | 3 | - | €8,828 | +€8,828 | |
| Stocks | 30/36 | - | €8,828 | +€8,828 | |
| Amounts receivable within one year | 40/41 | €9,634 | €8,044 | -€1,590 | -16.5% |
| Trade receivables | 40 | €8,899 | €8,044 | -€856 | -9.6% |
| Other amounts receivable | 41 | €735 | - | -€735 | |
| Cash at bank and in hand | 54/58 | €416 | €14,398 | +€13,982 | +3362.4% |
| Total equity and liabilities | 10/49 | €36,389 | €49,760 | +€13,371 | +36.7% |
| Equity | 10/15 | -€23,106 | €13,626 | +€36,732 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €11,500 | €11,626 | +€126 | +1.1% |
| Distributable reserves | 133 | €11,500 | €11,626 | +€126 | +1.1% |
| Profit (loss) carried forward | 14 | -€36,606 | €0 | +€36,606 | |
| Amounts payable | 17/49 | €59,495 | €36,134 | -€23,361 | -39.3% |
| Amounts payable within one year | 42/48 | €59,495 | €36,134 | -€23,361 | -39.3% |
| Trade debts | 44 | €1,295 | - | -€1,295 | |
| Suppliers | 440/4 | €1,295 | - | -€1,295 | |
| Taxes, remuneration and social security | 45 | €10,233 | €7,059 | -€3,174 | -31.0% |
| Taxes | 450/3 | €7,050 | €7,059 | +€9 | +0.1% |
| Remuneration and social security | 454/9 | €3,182 | - | -€3,182 | |
| Other amounts payable | 47/48 | €47,967 | €29,075 | -€18,892 | -39.4% |
| Non-recurring operating income | 76A | €17 | - | -€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,849 | €7,849 | = | 0.0% |
| Other operating charges | 640/8 | €1,012 | €368 | -€644 | -63.6% |
| Gross operating margin | 9900 | -€28,252 | €45,551 | +€73,803 | |
| Operating profit (loss) | 9901 | -€37,114 | €37,333 | +€74,448 | |
| Financial income | 75/76B | €159 | €128 | -€31 | -19.2% |
| Recurring financial income | 75 | €159 | €128 | -€31 | -19.2% |
| Financial charges | 65/66B | €67 | €391 | +€323 | +481.6% |
| Recurring financial charges | 65 | €67 | €391 | +€323 | +481.6% |
| Profit (loss) for the period before taxes | 9903 | -€37,022 | €37,071 | +€74,093 | |
| Income taxes | 67/77 | - | €339 | +€339 | |
| Profit (loss) for the period | 9904 | -€37,022 | €36,732 | +€73,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,022 | €36,732 | +€73,754 |
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 10 October 2026 via checked.be.