ELBEFAR: 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.
ELBEFAR
Largest movements
- Tangible fixed assets +€594,345
up €594,345 (+71.8%), from €827,722 to €1.4m
of which Land and buildings: +€649,172
- Receivables within one year -€114,764
down €114,764 (-28.3%), from €405,445 to €290,681
of which Trade receivables: -€155,186
- Cash +€74,256
up €74,256 (+42.7%), from €173,737 to €247,993
mainly Debts after one year (+€527,782) and Depreciation (+€171,905)
- Current investments +€63,085
up €63,085 (+18.8%), from €335,845 to €398,930
- Debts after one year +€527,782
up €527,782 (+1999.0%), from €26,403 to €554,185
- Current portion of long-term debt +€92,340
new in 2025: €92,340
- Trade debts +€51,435
up €51,435 (+25.9%), from €198,753 to €250,188
- Profit (loss) carried forward -€38,559
new in 2025: -€38,559
- Depreciation +€102,349
up €102,349 (+147.1%), from €69,556 to €171,905
- Taxes -€24,298
down €24,298 (-99.4%), from €24,452 to €154
- Financial charges +€17,371
up €17,371 (+330.5%), from €5,256 to €22,626
- Gross operating margin +€13,245
up €13,245 (+2.1%), from €644,637 to €657,882
- Staff costs +€10,872
up €10,872 (+2.2%), from €503,732 to €514,604
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 | €2,003,534 | €2,634,968 | +€631,434 | +31.5% |
| Fixed assets | 21/28 | €827,722 | €1,422,067 | +€594,345 | +71.8% |
| Tangible fixed assets | 22/27 | €827,722 | €1,422,067 | +€594,345 | +71.8% |
| Land and buildings | 22 | €631,748 | €1,280,920 | +€649,172 | +102.8% |
| Plant, machinery and equipment | 23 | €116,135 | €77,642 | -€38,494 | -33.1% |
| Furniture and vehicles | 24 | €79,838 | €63,505 | -€16,333 | -20.5% |
| Current assets | 29/58 | €1,175,812 | €1,212,901 | +€37,089 | +3.2% |
| Stocks and contracts in progress | 3 | €251,010 | €264,635 | +€13,625 | +5.4% |
| Stocks | 30/36 | €251,010 | €264,635 | +€13,625 | +5.4% |
| Amounts receivable within one year | 40/41 | €405,445 | €290,681 | -€114,764 | -28.3% |
| Trade receivables | 40 | €383,052 | €227,866 | -€155,186 | -40.5% |
| Other amounts receivable | 41 | €22,393 | €62,815 | +€40,421 | +180.5% |
| Current investments | 50/53 | €335,845 | €398,930 | +€63,085 | +18.8% |
| Cash at bank and in hand | 54/58 | €173,737 | €247,993 | +€74,256 | +42.7% |
| Deferred charges and accrued income | 490/1 | €9,775 | €10,661 | +€887 | +9.1% |
| Total equity and liabilities | 10/49 | €2,003,534 | €2,634,968 | +€631,434 | +31.5% |
| Equity | 10/15 | €1,745,149 | €1,706,589 | -€38,560 | -2.2% |
| Contributions | 10/11 | €761,187 | €761,187 | = | 0.0% |
| Capital | 10 | €761,187 | €761,187 | = | 0.0% |
| Issued capital | 100 | €761,187 | €761,187 | = | 0.0% |
| Reserves | 13 | €983,962 | €983,962 | -€1 | 0.0% |
| Non-distributable reserves | 130/1 | €42,200 | €42,200 | = | 0.0% |
| Legal reserve | 130 | €42,200 | €42,200 | = | 0.0% |
| Distributable reserves | 133 | €941,762 | €941,762 | -€1 | 0.0% |
| Profit (loss) carried forward | 14 | - | -€38,559 | -€38,559 | |
| Amounts payable | 17/49 | €258,385 | €928,378 | +€669,994 | +259.3% |
| Amounts payable after more than one year | 17 | €26,403 | €554,185 | +€527,782 | +1999.0% |
| Financial debts | 170/4 | €26,403 | €554,185 | +€527,782 | +1999.0% |
| Amounts payable within one year | 42/48 | €231,982 | €374,193 | +€142,212 | +61.3% |
| Current portion of amounts payable after more than one year | 42 | - | €92,340 | +€92,340 | |
| Trade debts | 44 | €198,753 | €250,188 | +€51,435 | +25.9% |
| Suppliers | 440/4 | €198,753 | €250,188 | +€51,435 | +25.9% |
| Taxes, remuneration and social security | 45 | €32,655 | €31,666 | -€989 | -3.0% |
| Taxes | 450/3 | €1,764 | €1,823 | +€59 | +3.3% |
| Remuneration and social security | 454/9 | €30,891 | €29,843 | -€1,048 | -3.4% |
| Other amounts payable | 47/48 | €574 | - | -€574 | |
| Non-recurring operating income | 76A | €10,182 | - | -€10,182 | |
| Remuneration, social security and pensions | 62 | €503,732 | €514,604 | +€10,872 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,556 | €171,905 | +€102,349 | +147.1% |
| Other operating charges | 640/8 | €7,016 | €8,137 | +€1,122 | +16.0% |
| Non-recurring operating charges | 66A | €1,207 | - | -€1,207 | |
| Gross operating margin | 9900 | €644,637 | €657,882 | +€13,245 | +2.1% |
| Operating profit (loss) | 9901 | €63,127 | -€36,764 | -€99,891 | |
| Financial income | 75/76B | €21,732 | €20,984 | -€747 | -3.4% |
| Recurring financial income | 75 | €7,141 | €7,646 | +€505 | +7.1% |
| Non-recurring financial income | 76B | €14,591 | €13,339 | -€1,252 | -8.6% |
| Financial charges | 65/66B | €5,256 | €22,626 | +€17,371 | +330.5% |
| Recurring financial charges | 65 | €5,256 | €22,626 | +€17,371 | +330.5% |
| Profit (loss) for the period before taxes | 9903 | €79,603 | -€38,406 | -€118,009 | |
| Income taxes | 67/77 | €24,452 | €154 | -€24,298 | -99.4% |
| Profit (loss) for the period | 9904 | €55,151 | -€38,560 | -€93,710 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,151 | -€38,560 | -€93,710 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.