Elbomax: 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.
Elbomax
Largest movements
- Receivables within one year -€25,699
down €25,699 (-50.5%), from €50,898 to €25,198
of which Trade receivables: -€33,804
- Tangible fixed assets +€11,993
up €11,993 (+1,328%), from €903 to €12,897
- Cash +€6,019
up €6,019 (+19.4%), from €31,000 to €37,019
mainly Net result for the year (+€28,661) and Receivables within one year (+€25,699)
- Deferred charges and accrued income +€2,716
new in 2025: €2,716
- Reserves +€28,661
up €28,661 (+86.0%), from €33,316 to €61,977
- Accrued charges and deferred income -€24,496
no longer reported in 2025 (was €24,496)
- Tax, wage and social debts -€17,348
no longer reported in 2025 (was €17,348)
- Trade debts +€6,180
up €6,180 (+1,499%), from €412 to €6,593
- Other debts +€2,032
up €2,032 (+91.2%), from €2,228 to €4,260
- Depreciation +€2,536
up €2,536 (+3,610%), from €70 to €2,606
- Other operating charges +€1,879
up €1,879 (+914%), from €206 to €2,084
- Taxes +€784
up €784 (+9.1%), from €8,604 to €9,387
- Gross operating margin +€719
up €719 (+1.7%), from €42,215 to €42,934
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 | €82,800 | €77,830 | -€4,971 | -6.0% |
| Fixed assets | 21/28 | €903 | €12,897 | +€11,993 | +1,328% |
| Tangible fixed assets | 22/27 | €903 | €12,897 | +€11,993 | +1,328% |
| Furniture and vehicles | 24 | €903 | €12,897 | +€11,993 | +1,328% |
| Current assets | 29/58 | €81,897 | €64,933 | -€16,964 | -20.7% |
| Amounts receivable within one year | 40/41 | €50,898 | €25,198 | -€25,699 | -50.5% |
| Trade receivables | 40 | €50,898 | €17,094 | -€33,804 | -66.4% |
| Other amounts receivable | 41 | - | €8,105 | +€8,105 | |
| Cash at bank and in hand | 54/58 | €31,000 | €37,019 | +€6,019 | +19.4% |
| Deferred charges and accrued income | 490/1 | - | €2,716 | +€2,716 | |
| Total equity and liabilities | 10/49 | €82,800 | €77,830 | -€4,971 | -6.0% |
| Equity | 10/15 | €38,316 | €66,977 | +€28,661 | +74.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,316 | €61,977 | +€28,661 | +86.0% |
| Distributable reserves | 133 | €33,316 | €61,977 | +€28,661 | +86.0% |
| Amounts payable | 17/49 | €44,485 | €10,853 | -€33,632 | -75.6% |
| Amounts payable within one year | 42/48 | €19,989 | €10,853 | -€9,136 | -45.7% |
| Trade debts | 44 | €412 | €6,593 | +€6,180 | +1,499% |
| Suppliers | 440/4 | €412 | €6,593 | +€6,180 | +1,499% |
| Taxes, remuneration and social security | 45 | €17,348 | - | -€17,348 | |
| Taxes | 450/3 | €17,348 | - | -€17,348 | |
| Other amounts payable | 47/48 | €2,228 | €4,260 | +€2,032 | +91.2% |
| Accrued charges and deferred income | 492/3 | €24,496 | - | -€24,496 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70 | €2,606 | +€2,536 | +3,610% |
| Other operating charges | 640/8 | €206 | €2,084 | +€1,879 | +914% |
| Gross operating margin | 9900 | €42,215 | €42,934 | +€719 | +1.7% |
| Operating profit (loss) | 9901 | €41,940 | €38,244 | -€3,695 | -8.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €20 | €195 | +€175 | +872% |
| Recurring financial charges | 65 | €20 | €195 | +€175 | +872% |
| Profit (loss) for the period before taxes | 9903 | €41,919 | €38,049 | -€3,871 | -9.2% |
| Income taxes | 67/77 | €8,604 | €9,387 | +€784 | +9.1% |
| Profit (loss) for the period | 9904 | €33,316 | €28,661 | -€4,655 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,316 | €28,661 | -€4,655 | -14.0% |
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 17 October 2026 via checked.be.