ELBACO: 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.
ELBACO
Largest movements
- Cash +€137,301
up €137,301 (+189.9%), from €72,310 to €209,610
mainly Current investments (+€130,000) and Net result for the year (+€16,073)
- Current investments -€130,000
down €130,000 (-84.6%), from €153,677 to €23,677
- Receivables within one year +€12,643
up €12,643 (+98.3%), from €12,867 to €25,510
of which Other amounts receivable: +€18,819
- Financial fixed assets -€9,907
down €9,907 (-100.0%), from €9,907 to €0
- Reserves +€16,073
up €16,073 (+5.2%), from €308,788 to €324,861
of which Distributable reserves: +€60,368
- Trade debts -€9,871
down €9,871 (-63.7%), from €15,491 to €5,621
- Other debts +€7,319
up €7,319 (+165.6%), from €4,419 to €11,738
- Tax, wage and social debts -€5,939
down €5,939 (-25.2%), from €23,549 to €17,610
- Gross operating margin -€25,526
down €25,526 (-49.2%), from €51,928 to €26,402
- Taxes -€9,417
down €9,417 (-53.7%), from €17,548 to €8,131
- Financial income -€1,764
down €1,764 (-47.4%), from €3,724 to €1,959
- Staff costs +€702
up €702 (+919.1%), from €76 to €779
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 | €274,941 | €282,524 | +€7,583 | +2.8% |
| Fixed assets | 21/28 | €36,088 | €23,727 | -€12,361 | -34.3% |
| Tangible fixed assets | 22/27 | €26,181 | €23,727 | -€2,454 | -9.4% |
| Land and buildings | 22 | €22,538 | €21,659 | -€879 | -3.9% |
| Plant, machinery and equipment | 23 | €3,643 | €2,068 | -€1,575 | -43.2% |
| Financial fixed assets | 28 | €9,907 | €0 | -€9,907 | -100.0% |
| Current assets | 29/58 | €238,853 | €258,797 | +€19,944 | +8.3% |
| Amounts receivable within one year | 40/41 | €12,867 | €25,510 | +€12,643 | +98.3% |
| Trade receivables | 40 | €7,318 | €1,142 | -€6,176 | -84.4% |
| Other amounts receivable | 41 | €5,548 | €24,367 | +€18,819 | +339.2% |
| Current investments | 50/53 | €153,677 | €23,677 | -€130,000 | -84.6% |
| Cash at bank and in hand | 54/58 | €72,310 | €209,610 | +€137,301 | +189.9% |
| Total equity and liabilities | 10/49 | €274,941 | €282,524 | +€7,583 | +2.8% |
| Equity | 10/15 | €231,482 | €247,556 | +€16,073 | +6.9% |
| Contributions | 10/11 | €21,032 | €21,032 | = | 0.0% |
| Contributions outside capital | 11 | €21,032 | - | -€21,032 | |
| Other | 1109/19 | €21,032 | - | -€21,032 | |
| Reserves | 13 | €308,788 | €324,861 | +€16,073 | +5.2% |
| Non-distributable reserves | 130/1 | €44,295 | - | -€44,295 | |
| Reserves not available under the articles | 1311 | €44,295 | - | -€44,295 | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €245,743 | €306,111 | +€60,368 | +24.6% |
| Profit (loss) carried forward | 14 | -€98,338 | -€98,338 | = | 0.0% |
| Amounts payable | 17/49 | €43,458 | €34,968 | -€8,490 | -19.5% |
| Amounts payable within one year | 42/48 | €43,458 | €34,968 | -€8,490 | -19.5% |
| Trade debts | 44 | €15,491 | €5,621 | -€9,871 | -63.7% |
| Suppliers | 440/4 | €15,491 | €5,621 | -€9,871 | -63.7% |
| Taxes, remuneration and social security | 45 | €23,549 | €17,610 | -€5,939 | -25.2% |
| Taxes | 450/3 | €23,549 | €17,610 | -€5,939 | -25.2% |
| Other amounts payable | 47/48 | €4,419 | €11,738 | +€7,319 | +165.6% |
| Remuneration, social security and pensions | 62 | €76 | €779 | +€702 | +919.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,454 | €2,454 | = | 0.0% |
| Other operating charges | 640/8 | €655 | €463 | -€192 | -29.3% |
| Gross operating margin | 9900 | €51,928 | €26,402 | -€25,526 | -49.2% |
| Operating profit (loss) | 9901 | €48,743 | €22,706 | -€26,037 | -53.4% |
| Financial income | 75/76B | €3,724 | €1,959 | -€1,764 | -47.4% |
| Recurring financial income | 75 | €3,724 | €1,959 | -€1,764 | -47.4% |
| Financial charges | 65/66B | €578 | €461 | -€117 | -20.2% |
| Recurring financial charges | 65 | €578 | €461 | -€117 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €51,888 | €24,204 | -€27,684 | -53.4% |
| Income taxes | 67/77 | €17,548 | €8,131 | -€9,417 | -53.7% |
| Profit (loss) for the period | 9904 | €34,340 | €16,073 | -€18,267 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,340 | €16,073 | -€18,267 | -53.2% |
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 11 October 2026 via checked.be.