ELBER: what changed
Two fiscal 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.
ELBER
Largest movements
- Cash +€11,868
up €11,868 (+21.8%), from €54,535 to €66,403
mainly Net result for the year (+€40,992) and Other debts (+€17,580)
- Receivables within one year -€3,935
down €3,935 (-5.0%), from €78,060 to €74,125
of which Trade receivables: -€3,935
- Deferred charges and accrued income +€2,211
new in 2025: €2,211
- Other debts +€17,580
up €17,580 (+25.0%), from €70,183 to €87,763
- Reserves -€6,856
down €6,856 (-14.3%), from €47,849 to €40,992
- Trade debts -€2,173
down €2,173 (-98.6%), from €2,203 to €30
- Gross operating margin -€12,082
down €12,082 (-17.4%), from €69,620 to €57,539
- Taxes -€6,278
down €6,278 (-35.3%), from €17,797 to €11,518
- Financial charges +€1,099
up €1,099 (+35.6%), from €3,086 to €4,185
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 | €132,595 | €142,739 | +€10,144 | +7.7% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €132,595 | €142,739 | +€10,144 | +7.7% |
| Amounts receivable within one year | 40/41 | €78,060 | €74,125 | -€3,935 | -5.0% |
| Trade receivables | 40 | €60,856 | €56,921 | -€3,935 | -6.5% |
| Other amounts receivable | 41 | €17,203 | €17,203 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,535 | €66,403 | +€11,868 | +21.8% |
| Deferred charges and accrued income | 490/1 | - | €2,211 | +€2,211 | |
| Total equity and liabilities | 10/49 | €132,595 | €142,739 | +€10,144 | +7.7% |
| Equity | 10/15 | €55,349 | €48,492 | -€6,856 | -12.4% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €47,849 | €40,992 | -€6,856 | -14.3% |
| Distributable reserves | 133 | €47,849 | €40,992 | -€6,856 | -14.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €77,246 | €94,247 | +€17,000 | +22.0% |
| Amounts payable within one year | 42/48 | €74,419 | €90,328 | +€15,909 | +21.4% |
| Trade debts | 44 | €2,203 | €30 | -€2,173 | -98.6% |
| Suppliers | 440/4 | €2,203 | €30 | -€2,173 | -98.6% |
| Taxes, remuneration and social security | 45 | €2,032 | €2,535 | +€502 | +24.7% |
| Taxes | 450/3 | €2,032 | €2,535 | +€502 | +24.7% |
| Other amounts payable | 47/48 | €70,183 | €87,763 | +€17,580 | +25.0% |
| Accrued charges and deferred income | 492/3 | €2,827 | €3,919 | +€1,091 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167 | €0 | -€167 | -100.0% |
| Other operating charges | 640/8 | €722 | €866 | +€144 | +19.9% |
| Gross operating margin | 9900 | €69,620 | €57,539 | -€12,082 | -17.4% |
| Operating profit (loss) | 9901 | €68,732 | €56,673 | -€12,059 | -17.5% |
| Financial income | 75/76B | €0 | €23 | +€23 | +77800.0% |
| Recurring financial income | 75 | €0 | €23 | +€23 | +77800.0% |
| Financial charges | 65/66B | €3,086 | €4,185 | +€1,099 | +35.6% |
| Recurring financial charges | 65 | €3,086 | €4,185 | +€1,099 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | €65,645 | €52,511 | -€13,135 | -20.0% |
| Income taxes | 67/77 | €17,797 | €11,518 | -€6,278 | -35.3% |
| Profit (loss) for the period | 9904 | €47,849 | €40,992 | -€6,856 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,849 | €40,992 | -€6,856 | -14.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.