ELBONET: 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.
ELBONET
Largest movements
- Receivables within one year +€69,597
up €69,597 (+273%), from €25,507 to €95,104
of which Other amounts receivable: +€58,233
- Tangible fixed assets -€19,731
down €19,731 (-16.7%), from €118,285 to €98,554
of which Land and buildings: -€17,728
- Cash -€14,856
down €14,856 (-34.8%), from €42,694 to €27,839
mainly Receivables within one year (-€69,597) and Current portion of long-term debt (-€25,592)
- Reserves +€41,508
up €41,508 (+64.0%), from €64,906 to €106,414
- Provisions +€31,575
up €31,575 (+61.2%), from €51,584 to €83,159
- Current portion of long-term debt -€25,592
no longer reported in 2025 (was €25,592)
- Tax, wage and social debts -€7,255
down €7,255 (-37.3%), from €19,464 to €12,210
- Trade debts -€4,508
down €4,508 (-46.0%), from €9,803 to €5,295
- Provisions +€32,345
up €32,345, from -€770 to €31,575
- Gross operating margin +€16,082
up €16,082 (+16.1%), from €99,977 to €116,058
- Taxes -€6,964
down €6,964 (-35.6%), from €19,553 to €12,589
- Other operating charges -€5,357
down €5,357 (-56.6%), from €9,469 to €4,112
- Financial charges -€1,539
down €1,539 (-18.3%), from €8,402 to €6,863
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 | €189,949 | €225,678 | +€35,728 | +18.8% |
| Fixed assets | 21/28 | €118,841 | €99,110 | -€19,731 | -16.6% |
| Tangible fixed assets | 22/27 | €118,285 | €98,554 | -€19,731 | -16.7% |
| Land and buildings | 22 | €113,820 | €96,092 | -€17,728 | -15.6% |
| Plant, machinery and equipment | 23 | €2,880 | €1,841 | -€1,038 | -36.1% |
| Furniture and vehicles | 24 | €1,584 | €621 | -€964 | -60.8% |
| Financial fixed assets | 28 | €556 | €556 | = | 0.0% |
| Current assets | 29/58 | €71,109 | €126,568 | +€55,459 | +78.0% |
| Amounts receivable within one year | 40/41 | €25,507 | €95,104 | +€69,597 | +273% |
| Trade receivables | 40 | €21,367 | €32,731 | +€11,364 | +53.2% |
| Other amounts receivable | 41 | €4,140 | €62,373 | +€58,233 | +1,407% |
| Cash at bank and in hand | 54/58 | €42,694 | €27,839 | -€14,856 | -34.8% |
| Deferred charges and accrued income | 490/1 | €2,907 | €3,625 | +€717 | +24.7% |
| Total equity and liabilities | 10/49 | €189,949 | €225,678 | +€35,728 | +18.8% |
| Equity | 10/15 | €83,506 | €125,014 | +€41,508 | +49.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,906 | €106,414 | +€41,508 | +64.0% |
| Distributable reserves | 133 | €64,906 | €106,414 | +€41,508 | +64.0% |
| Provisions and deferred taxes | 16 | €51,584 | €83,159 | +€31,575 | +61.2% |
| Provisions for liabilities and charges | 160/5 | €51,584 | €83,159 | +€31,575 | +61.2% |
| Environmental obligations | 163 | €51,584 | €83,159 | +€31,575 | +61.2% |
| Amounts payable | 17/49 | €54,859 | €17,505 | -€37,354 | -68.1% |
| Amounts payable within one year | 42/48 | €54,859 | €17,505 | -€37,354 | -68.1% |
| Current portion of amounts payable after more than one year | 42 | €25,592 | - | -€25,592 | |
| Trade debts | 44 | €9,803 | €5,295 | -€4,508 | -46.0% |
| Suppliers | 440/4 | €9,803 | €5,295 | -€4,508 | -46.0% |
| Taxes, remuneration and social security | 45 | €19,464 | €12,210 | -€7,255 | -37.3% |
| Taxes | 450/3 | €19,464 | €12,210 | -€7,255 | -37.3% |
| Non-recurring operating income | 76A | - | €59,355 | +€59,355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,574 | €19,731 | +€157 | +0.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€770 | €31,575 | +€32,345 | |
| Other operating charges | 640/8 | €9,469 | €4,112 | -€5,357 | -56.6% |
| Gross operating margin | 9900 | €99,977 | €116,058 | +€16,082 | +16.1% |
| Operating profit (loss) | 9901 | €71,704 | €60,641 | -€11,063 | -15.4% |
| Financial income | 75/76B | €123 | €319 | +€196 | +160% |
| Recurring financial income | 75 | €123 | €319 | +€196 | +160% |
| Financial charges | 65/66B | €8,402 | €6,863 | -€1,539 | -18.3% |
| Recurring financial charges | 65 | €8,402 | €6,863 | -€1,539 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €63,425 | €54,097 | -€9,328 | -14.7% |
| Income taxes | 67/77 | €19,553 | €12,589 | -€6,964 | -35.6% |
| Profit (loss) for the period | 9904 | €43,872 | €41,508 | -€2,364 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,872 | €41,508 | -€2,364 | -5.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.