ELCAS: 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.
ELCAS
Largest movements
- Cash +€16,694
up €16,694 (+101.3%), from €16,474 to €33,168
mainly Net result for the year (+€24,363) and Depreciation (+€4,828)
- Reserves +€24,363
up €24,363 (+317.9%), from €7,665 to €32,027
- Debts after one year -€4,955
down €4,955 (-11.8%), from €41,901 to €36,946
- Gross operating margin +€22,635
up €22,635 (+109.9%), from €20,593 to €43,228
- Taxes +€7,769
up €7,769 (+208.8%), from €3,720 to €11,489
- Depreciation +€659
up €659 (+15.8%), from €4,169 to €4,828
- Other operating charges +€581
up €581 (+575.4%), from €101 to €682
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 | €362,389 | €385,024 | +€22,635 | +6.2% |
| Fixed assets | 21/28 | €345,165 | €347,285 | +€2,119 | +0.6% |
| Tangible fixed assets | 22/27 | €50,501 | €52,620 | +€2,119 | +4.2% |
| Land and buildings | 22 | €46,633 | €43,306 | -€3,328 | -7.1% |
| Plant, machinery and equipment | 23 | €3,099 | €7,133 | +€4,034 | +130.2% |
| Furniture and vehicles | 24 | €768 | €2,182 | +€1,413 | +183.9% |
| Financial fixed assets | 28 | €294,665 | €294,665 | = | 0.0% |
| Current assets | 29/58 | €17,223 | €37,739 | +€20,516 | +119.1% |
| Amounts receivable within one year | 40/41 | - | €1,394 | +€1,394 | |
| Other amounts receivable | 41 | - | €1,394 | +€1,394 | |
| Current investments | 50/53 | €749 | €2,689 | +€1,940 | +259.0% |
| Cash at bank and in hand | 54/58 | €16,474 | €33,168 | +€16,694 | +101.3% |
| Deferred charges and accrued income | 490/1 | - | €489 | +€489 | |
| Total equity and liabilities | 10/49 | €362,389 | €385,024 | +€22,635 | +6.2% |
| Equity | 10/15 | €304,329 | €328,692 | +€24,363 | +8.0% |
| Contributions | 10/11 | €296,665 | €296,665 | = | 0.0% |
| Reserves | 13 | €7,665 | €32,027 | +€24,363 | +317.9% |
| Distributable reserves | 133 | €7,665 | €32,027 | +€24,363 | +317.9% |
| Amounts payable | 17/49 | €58,060 | €56,332 | -€1,728 | -3.0% |
| Amounts payable after more than one year | 17 | €41,901 | €36,946 | -€4,955 | -11.8% |
| Financial debts | 170/4 | €41,901 | €36,946 | -€4,955 | -11.8% |
| Amounts payable within one year | 42/48 | €16,159 | €19,385 | +€3,227 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €4,261 | €4,444 | +€183 | +4.3% |
| Trade debts | 44 | €174 | €3,774 | +€3,599 | +2064.6% |
| Suppliers | 440/4 | €174 | €3,774 | +€3,599 | +2064.6% |
| Advances received on contracts in progress | 46 | - | €1,345 | +€1,345 | |
| Taxes, remuneration and social security | 45 | €3,720 | €4,570 | +€850 | +22.8% |
| Taxes | 450/3 | €3,720 | €4,570 | +€850 | +22.8% |
| Other amounts payable | 47/48 | €8,004 | €5,253 | -€2,750 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,169 | €4,828 | +€659 | +15.8% |
| Other operating charges | 640/8 | €101 | €682 | +€581 | +575.4% |
| Gross operating margin | 9900 | €20,593 | €43,228 | +€22,635 | +109.9% |
| Operating profit (loss) | 9901 | €16,323 | €37,718 | +€21,395 | +131.1% |
| Financial income | 75/76B | €1 | €115 | +€113 | +7742.5% |
| Recurring financial income | 75 | €1 | €110 | +€108 | +7400.0% |
| Non-recurring financial income | 76B | - | €5 | +€5 | |
| Financial charges | 65/66B | €2,120 | €1,980 | -€140 | -6.6% |
| Recurring financial charges | 65 | €2,120 | €1,972 | -€148 | -7.0% |
| Non-recurring financial charges | 66B | €0 | €8 | +€8 | +8360.0% |
| Profit (loss) for the period before taxes | 9903 | €14,204 | €35,852 | +€21,648 | +152.4% |
| Income taxes | 67/77 | €3,720 | €11,489 | +€7,769 | +208.8% |
| Profit (loss) for the period | 9904 | €10,484 | €24,363 | +€13,879 | +132.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,484 | €24,363 | +€13,879 | +132.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.