ELB Projects: 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 Projects
Largest movements
- Cash +€67,000
up €67,000 (+214.9%), from €31,184 to €98,184
mainly Net result for the year (+€77,580) and Stocks and contracts (+€25,000)
- Stocks and contracts -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Receivables within one year +€16,166
up €16,166 (+27.6%), from €58,637 to €74,803
of which Trade receivables: +€12,706
- Tangible fixed assets -€9,154
down €9,154 (-15.3%), from €59,663 to €50,508
of which Land and buildings: -€6,731
- Reserves +€62,895
up €62,895 (+76.4%), from €82,332 to €145,228
of which Distributable reserves: +€62,895
- Trade debts -€24,411
down €24,411 (-30.8%), from €79,185 to €54,774
- Other debts +€7,572
up €7,572 (+106.5%), from €7,113 to €14,685
- Tax, wage and social debts +€3,025
up €3,025 (+328.7%), from €920 to €3,945
- Gross operating margin +€67,332
up €67,332 (+118.2%), from €56,945 to €124,278
- Taxes +€19,324
up €19,324 (+147.9%), from €13,063 to €32,387
- Depreciation +€2,563
up €2,563 (+26.2%), from €9,771 to €12,334
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 | €175,750 | €224,831 | +€49,081 | +27.9% |
| Fixed assets | 21/28 | €59,663 | €50,508 | -€9,154 | -15.3% |
| Tangible fixed assets | 22/27 | €59,663 | €50,508 | -€9,154 | -15.3% |
| Land and buildings | 22 | €37,995 | €31,265 | -€6,731 | -17.7% |
| Plant, machinery and equipment | 23 | €7,798 | €5,674 | -€2,124 | -27.2% |
| Furniture and vehicles | 24 | €13,870 | €13,570 | -€300 | -2.2% |
| Current assets | 29/58 | €116,087 | €174,322 | +€58,235 | +50.2% |
| Stocks and contracts in progress | 3 | €25,000 | €0 | -€25,000 | -100.0% |
| Contracts in progress | 37 | €25,000 | €0 | -€25,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €58,637 | €74,803 | +€16,166 | +27.6% |
| Trade receivables | 40 | €43,444 | €56,149 | +€12,706 | +29.2% |
| Other amounts receivable | 41 | €15,194 | €18,654 | +€3,460 | +22.8% |
| Cash at bank and in hand | 54/58 | €31,184 | €98,184 | +€67,000 | +214.9% |
| Deferred charges and accrued income | 490/1 | €1,266 | €1,335 | +€70 | +5.5% |
| Total equity and liabilities | 10/49 | €175,750 | €224,831 | +€49,081 | +27.9% |
| Equity | 10/15 | €88,532 | €151,428 | +€62,895 | +71.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €82,332 | €145,228 | +€62,895 | +76.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €82,332 | €145,228 | +€62,895 | +76.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €87,218 | €73,403 | -€13,815 | -15.8% |
| Amounts payable within one year | 42/48 | €87,218 | €73,403 | -€13,815 | -15.8% |
| Trade debts | 44 | €79,185 | €54,774 | -€24,411 | -30.8% |
| Suppliers | 440/4 | €79,185 | €54,774 | -€24,411 | -30.8% |
| Taxes, remuneration and social security | 45 | €920 | €3,945 | +€3,025 | +328.7% |
| Taxes | 450/3 | €920 | €3,945 | +€3,025 | +328.7% |
| Other amounts payable | 47/48 | €7,113 | €14,685 | +€7,572 | +106.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,771 | €12,334 | +€2,563 | +26.2% |
| Other operating charges | 640/8 | €1,914 | €1,888 | -€25 | -1.3% |
| Gross operating margin | 9900 | €56,945 | €124,278 | +€67,332 | +118.2% |
| Operating profit (loss) | 9901 | €45,261 | €110,055 | +€64,795 | +143.2% |
| Financial income | 75/76B | €261 | €187 | -€74 | -28.2% |
| Recurring financial income | 75 | €261 | €187 | -€74 | -28.2% |
| Financial charges | 65/66B | €247 | €275 | +€28 | +11.3% |
| Recurring financial charges | 65 | €247 | €275 | +€28 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €45,274 | €109,967 | +€64,693 | +142.9% |
| Income taxes | 67/77 | €13,063 | €32,387 | +€19,324 | +147.9% |
| Profit (loss) for the period | 9904 | €32,211 | €77,580 | +€45,369 | +140.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,211 | €77,580 | +€45,369 | +140.8% |
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 10 October 2026 via checked.be.