ELC: 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.
ELC
Largest movements
- Stocks and contracts +€29,648
new in 2025: €29,648
- Cash +€29,327
up €29,327 (+438.8%), from €6,683 to €36,009
mainly Net result for the year (+€29,604) and Receivables within one year (+€17,674)
- Receivables within one year -€17,674
down €17,674 (-12.4%), from €142,799 to €125,124
of which Trade receivables: -€16,858
- Deferred charges and accrued income -€2,395
no longer reported in 2025 (was €2,395)
- Reserves +€29,604
up €29,604 (+40.9%), from €72,362 to €101,966
of which Distributable reserves: +€29,604
- Short-term financial debts +€17,500
up €17,500 (+175.0%), from €10,000 to €27,500
- Trade debts -€11,034
down €11,034 (-56.0%), from €19,692 to €8,658
- Tax, wage and social debts +€3,841
up €3,841 (+47.5%), from €8,079 to €11,920
- Gross operating margin +€27,261
up €27,261 (+116.2%), from €23,465 to €50,726
- Other operating charges -€5,420
down €5,420 (-68.0%), from €7,969 to €2,549
- Staff costs +€2,730
up €2,730 (+1333.2%), from €205 to €2,935
- Taxes +€1,274
up €1,274 (+12.0%), from €10,647 to €11,920
- Financial income -€742
down €742 (-99.9%), from €742 to €1
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 | €154,671 | €193,243 | +€38,571 | +24.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €2,796 | €2,461 | -€335 | -12.0% |
| Tangible fixed assets | 22/27 | €2,796 | €2,461 | -€335 | -12.0% |
| Plant, machinery and equipment | 23 | €2,796 | €2,461 | -€335 | -12.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €151,876 | €190,782 | +€38,906 | +25.6% |
| Stocks and contracts in progress | 3 | - | €29,648 | +€29,648 | |
| Stocks | 30/36 | - | €29,648 | +€29,648 | |
| Amounts receivable within one year | 40/41 | €142,799 | €125,124 | -€17,674 | -12.4% |
| Trade receivables | 40 | €113,456 | €96,598 | -€16,858 | -14.9% |
| Other amounts receivable | 41 | €29,342 | €28,526 | -€816 | -2.8% |
| Cash at bank and in hand | 54/58 | €6,683 | €36,009 | +€29,327 | +438.8% |
| Deferred charges and accrued income | 490/1 | €2,395 | - | -€2,395 | |
| Total equity and liabilities | 10/49 | €154,671 | €193,243 | +€38,571 | +24.9% |
| Equity | 10/15 | €90,962 | €120,566 | +€29,604 | +32.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €72,362 | €101,966 | +€29,604 | +40.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,502 | €100,106 | +€29,604 | +42.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €63,709 | €72,677 | +€8,967 | +14.1% |
| Amounts payable within one year | 42/48 | €63,709 | €72,677 | +€8,967 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €272 | - | -€272 | |
| Financial debts | 43 | €10,000 | €27,500 | +€17,500 | +175.0% |
| Credit institutions | 430/8 | €10,000 | €27,500 | +€17,500 | +175.0% |
| Trade debts | 44 | €19,692 | €8,658 | -€11,034 | -56.0% |
| Suppliers | 440/4 | €19,692 | €8,658 | -€11,034 | -56.0% |
| Taxes, remuneration and social security | 45 | €8,079 | €11,920 | +€3,841 | +47.5% |
| Taxes | 450/3 | €8,079 | €11,920 | +€3,841 | +47.5% |
| Other amounts payable | 47/48 | €25,666 | €24,598 | -€1,068 | -4.2% |
| Remuneration, social security and pensions | 62 | €205 | €2,935 | +€2,730 | +1333.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,895 | €2,085 | +€190 | +10.0% |
| Other operating charges | 640/8 | €7,969 | €2,549 | -€5,420 | -68.0% |
| Gross operating margin | 9900 | €23,465 | €50,726 | +€27,261 | +116.2% |
| Operating profit (loss) | 9901 | €13,396 | €43,158 | +€29,761 | +222.2% |
| Financial income | 75/76B | €742 | €1 | -€742 | -99.9% |
| Recurring financial income | 75 | €742 | €1 | -€742 | -99.9% |
| Financial charges | 65/66B | €1,142 | €1,634 | +€492 | +43.0% |
| Recurring financial charges | 65 | €1,142 | €1,634 | +€492 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €12,996 | €41,524 | +€28,528 | +219.5% |
| Income taxes | 67/77 | €10,647 | €11,920 | +€1,274 | +12.0% |
| Profit (loss) for the period | 9904 | €2,350 | €29,604 | +€27,254 | +1159.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,350 | €29,604 | +€27,254 | +1159.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.