ELBO: 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.
ELBO
Largest movements
- Receivables within one year -€85,000
down €85,000 (-69.2%), from €122,818 to €37,817
of which Trade receivables: -€85,007
- Debts after one year -€75,438
down €75,438 (-20.6%), from €365,392 to €289,955
- Profit (loss) carried forward -€12,694
down €12,694 (-46.2%), from -€27,472 to -€40,166
- Trade debts +€5,497
up €5,497 (+149%), from €3,688 to €9,185
- Gross operating margin +€18,023
up €18,023 (+60.7%), from -€29,684 to -€11,661
- Other operating charges +€685
up €685 (+95.0%), from €721 to €1,406
- Financial income +€475
up €475, from €0 to €475
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.
Derived cash bridge
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 | €393,908 | €309,148 | -€84,760 | -21.5% |
| Current assets | 29/58 | €393,908 | €309,148 | -€84,760 | -21.5% |
| Stocks and contracts in progress | 3 | €260,390 | €260,390 | = | 0.0% |
| Stocks | 30/36 | €260,390 | €260,390 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €122,818 | €37,817 | -€85,000 | -69.2% |
| Trade receivables | 40 | €122,693 | €37,687 | -€85,007 | -69.3% |
| Other amounts receivable | 41 | €125 | €131 | +€6 | +4.9% |
| Cash at bank and in hand | 54/58 | €10,700 | €10,940 | +€240 | +2.2% |
| Total equity and liabilities | 10/49 | €393,908 | €309,148 | -€84,760 | -21.5% |
| Equity | 10/15 | €22,703 | €10,009 | -€12,694 | -55.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €31,583 | €31,583 | = | 0.0% |
| Non-distributable reserves | 130/1 | €31,583 | €31,583 | = | 0.0% |
| Reserves not available under the articles | 1311 | €31,583 | €31,583 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€27,472 | -€40,166 | -€12,694 | -46.2% |
| Amounts payable | 17/49 | €371,206 | €299,139 | -€72,066 | -19.4% |
| Amounts payable after more than one year | 17 | €365,392 | €289,955 | -€75,438 | -20.6% |
| Other amounts payable | 178/9 | €365,392 | €289,955 | -€75,438 | -20.6% |
| Amounts payable within one year | 42/48 | €3,688 | €9,185 | +€5,497 | +149% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,688 | €9,185 | +€5,497 | +149% |
| Suppliers | 440/4 | €3,688 | €9,185 | +€5,497 | +149% |
| Accrued charges and deferred income | 492/3 | €2,125 | €0 | -€2,125 | -100% |
| Other operating charges | 640/8 | €721 | €1,406 | +€685 | +95.0% |
| Gross operating margin | 9900 | -€29,684 | -€11,661 | +€18,023 | +60.7% |
| Operating profit (loss) | 9901 | -€30,405 | -€13,067 | +€17,338 | +57.0% |
| Financial income | 75/76B | €0 | €475 | +€475 | |
| Recurring financial income | 75 | €0 | €475 | +€475 | |
| Financial charges | 65/66B | €147 | €102 | -€45 | -30.7% |
| Recurring financial charges | 65 | €147 | €102 | -€45 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | -€30,552 | -€12,694 | +€17,858 | +58.5% |
| Profit (loss) for the period | 9904 | -€30,552 | -€12,694 | +€17,858 | +58.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,552 | -€12,694 | +€17,858 | +58.5% |
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 19 October 2026 via checked.be.