ELBUMO: 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.
ELBUMO
Largest movements
- Stocks and contracts -€497,541
down €497,541 (-28.1%), from €1.8m to €1.3m
of which Stocks: -€365,771
- Cash +€264,219
up €264,219 (+203%), from €130,110 to €394,329
mainly Stocks and contracts (+€497,541) and Net result for the year (+€370,102)
- Debts after one year -€666,687
down €666,687 (-18.9%), from €3.5m to €2.9m
- Reserves +€310,102
up €310,102 (+37.7%), from €821,898 to €1.1m
of which Distributable reserves: +€310,102
- Tax, wage and social debts +€76,756
up €76,756 (+150%), from €51,028 to €127,784
of which Taxes: +€89,505
- Other debts +€58,636
up €58,636 (+37.6%), from €155,923 to €214,560
- Gross operating margin +€144,558
up €144,558 (+26.3%), from €550,093 to €694,651
- Financial income +€121,167
up €121,167 (+5,811%), from €2,085 to €123,252
of which Non-recurring financial income: +€120,396
- Taxes +€94,775
up €94,775 (+190%), from €49,942 to €144,717
- Staff costs -€44,726
down €44,726 (-20.0%), from €223,621 to €178,894
- Depreciation -€20,443
down €20,443 (-29.5%), from €69,218 to €48,775
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 | €5,153,739 | €4,946,268 | -€207,471 | -4.0% |
| Fixed assets | 21/28 | €2,899,725 | €2,900,894 | +€1,169 | 0.0% |
| Tangible fixed assets | 22/27 | €196,508 | €197,678 | +€1,169 | +0.6% |
| Land and buildings | 22 | €6,230 | €0 | -€6,230 | -100% |
| Plant, machinery and equipment | 23 | - | €13,939 | +€13,939 | |
| Furniture and vehicles | 24 | €139,723 | €140,405 | +€682 | +0.5% |
| Other tangible fixed assets | 26 | €50,556 | €43,333 | -€7,222 | -14.3% |
| Financial fixed assets | 28 | €2,703,216 | €2,703,216 | = | 0.0% |
| Current assets | 29/58 | €2,254,014 | €2,045,374 | -€208,640 | -9.3% |
| Amounts receivable after more than one year | 29 | €170,225 | €175,046 | +€4,821 | +2.8% |
| Other amounts receivable | 291 | €170,225 | €175,046 | +€4,821 | +2.8% |
| Stocks and contracts in progress | 3 | €1,769,943 | €1,272,402 | -€497,541 | -28.1% |
| Stocks | 30/36 | €626,783 | €261,011 | -€365,771 | -58.4% |
| Contracts in progress | 37 | €1,143,160 | €1,011,391 | -€131,769 | -11.5% |
| Amounts receivable within one year | 40/41 | €174,429 | €193,323 | +€18,893 | +10.8% |
| Trade receivables | 40 | €139,732 | €180,291 | +€40,559 | +29.0% |
| Other amounts receivable | 41 | €34,697 | €13,031 | -€21,666 | -62.4% |
| Cash at bank and in hand | 54/58 | €130,110 | €394,329 | +€264,219 | +203% |
| Deferred charges and accrued income | 490/1 | €9,307 | €10,274 | +€967 | +10.4% |
| Total equity and liabilities | 10/49 | €5,153,739 | €4,946,268 | -€207,471 | -4.0% |
| Equity | 10/15 | €985,908 | €1,296,010 | +€310,102 | +31.5% |
| Contributions | 10/11 | €164,010 | €164,010 | = | 0.0% |
| Reserves | 13 | €821,898 | €1,132,000 | +€310,102 | +37.7% |
| Tax-exempt reserves | 132 | €178,164 | €178,164 | = | 0.0% |
| Distributable reserves | 133 | €643,734 | €953,836 | +€310,102 | +48.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €59,388 | €59,388 | = | 0.0% |
| Deferred taxes | 168 | €59,388 | €59,388 | = | 0.0% |
| Amounts payable | 17/49 | €4,108,443 | €3,590,870 | -€517,573 | -12.6% |
| Amounts payable after more than one year | 17 | €3,536,220 | €2,869,533 | -€666,687 | -18.9% |
| Financial debts | 170/4 | €3,536,220 | €2,869,533 | -€666,687 | -18.9% |
| Amounts payable within one year | 42/48 | €540,733 | €685,937 | +€145,204 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €82,568 | €76,851 | -€5,717 | -6.9% |
| Trade debts | 44 | €251,213 | €266,743 | +€15,529 | +6.2% |
| Suppliers | 440/4 | €251,213 | €266,743 | +€15,529 | +6.2% |
| Taxes, remuneration and social security | 45 | €51,028 | €127,784 | +€76,756 | +150% |
| Taxes | 450/3 | €26,445 | €115,949 | +€89,505 | +338% |
| Remuneration and social security | 454/9 | €24,583 | €11,834 | -€12,749 | -51.9% |
| Other amounts payable | 47/48 | €155,923 | €214,560 | +€58,636 | +37.6% |
| Accrued charges and deferred income | 492/3 | €31,491 | €35,400 | +€3,910 | +12.4% |
| Non-recurring operating income | 76A | - | €40,901 | +€40,901 | |
| Remuneration, social security and pensions | 62 | €223,621 | €178,894 | -€44,726 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,218 | €48,775 | -€20,443 | -29.5% |
| Other operating charges | 640/8 | €3,223 | €6,529 | +€3,306 | +103% |
| Gross operating margin | 9900 | €550,093 | €694,651 | +€144,558 | +26.3% |
| Operating profit (loss) | 9901 | €254,031 | €460,452 | +€206,422 | +81.3% |
| Financial income | 75/76B | €2,085 | €123,252 | +€121,167 | +5,811% |
| Recurring financial income | 75 | €2,085 | €2,856 | +€771 | +37.0% |
| Non-recurring financial income | 76B | - | €120,396 | +€120,396 | |
| Financial charges | 65/66B | €73,908 | €68,885 | -€5,023 | -6.8% |
| Recurring financial charges | 65 | €73,908 | €66,612 | -€7,296 | -9.9% |
| Non-recurring financial charges | 66B | - | €2,273 | +€2,273 | |
| Profit (loss) for the period before taxes | 9903 | €182,208 | €514,819 | +€332,612 | +183% |
| Income taxes | 67/77 | €49,942 | €144,717 | +€94,775 | +190% |
| Profit (loss) for the period | 9904 | €132,266 | €370,102 | +€237,836 | +180% |
| Profit (loss) for the period to be appropriated | 9905 | €132,266 | €370,102 | +€237,836 | +180% |
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 14 October 2026 via checked.be.