ELCE INVEST: what changed
ELCE INVEST
Largest movements
- Cash -€5,935
down €5,935 (-64.8%), from €9,153 to €3,218
mainly Investment in fixed assets (net) (-€6,361) and Debts after one year (-€3,826)
- Tangible fixed assets +€5,196
up €5,196 (+102%), from €5,071 to €10,268
of which Furniture and vehicles: +€6,096
- Receivables within one year +€3,666
up €3,666 (+42.0%), from €8,727 to €12,393
of which Other amounts receivable: +€3,607
- Reserves +€8,058
up €8,058 (+141%), from €5,699 to €13,757
- Debts after one year -€3,826
down €3,826 (-87.3%), from €4,382 to €556
- Tax, wage and social debts -€3,003
down €3,003 (-39.4%), from €7,616 to €4,614
of which Taxes: -€4,738
- Trade debts +€1,866
up €1,866 (+228%), from €818 to €2,684
- Gross operating margin +€3,643
up €3,643 (+34.8%), from €10,471 to €14,114
- Financial charges +€1,016
up €1,016 (+839%), from €121 to €1,138
- Taxes +€207
up €207 (+7.7%), from €2,672 to €2,879
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,515 | €26,611 | +€3,096 | +13.2% |
| Fixed assets | 21/28 | €5,071 | €10,268 | +€5,196 | +102% |
| Tangible fixed assets | 22/27 | €5,071 | €10,268 | +€5,196 | +102% |
| Plant, machinery and equipment | 23 | €3,892 | €2,992 | -€900 | -23.1% |
| Furniture and vehicles | 24 | €1,180 | €7,276 | +€6,096 | +517% |
| Current assets | 29/58 | €18,444 | €16,343 | -€2,101 | -11.4% |
| Amounts receivable within one year | 40/41 | €8,727 | €12,393 | +€3,666 | +42.0% |
| Trade receivables | 40 | €8,619 | €8,678 | +€59 | +0.7% |
| Other amounts receivable | 41 | €108 | €3,715 | +€3,607 | +3,340% |
| Cash at bank and in hand | 54/58 | €9,153 | €3,218 | -€5,935 | -64.8% |
| Deferred charges and accrued income | 490/1 | €564 | €733 | +€169 | +29.9% |
| Total equity and liabilities | 10/49 | €23,515 | €26,611 | +€3,096 | +13.2% |
| Equity | 10/15 | €10,699 | €18,757 | +€8,058 | +75.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,699 | €13,757 | +€8,058 | +141% |
| Distributable reserves | 133 | €5,699 | €13,757 | +€8,058 | +141% |
| Amounts payable | 17/49 | €12,816 | €7,854 | -€4,962 | -38.7% |
| Amounts payable after more than one year | 17 | €4,382 | €556 | -€3,826 | -87.3% |
| Other amounts payable | 178/9 | €4,382 | €556 | -€3,826 | -87.3% |
| Amounts payable within one year | 42/48 | €8,435 | €7,298 | -€1,136 | -13.5% |
| Trade debts | 44 | €818 | €2,684 | +€1,866 | +228% |
| Suppliers | 440/4 | €818 | €2,684 | +€1,866 | +228% |
| Taxes, remuneration and social security | 45 | €7,616 | €4,614 | -€3,003 | -39.4% |
| Taxes | 450/3 | €7,616 | €2,879 | -€4,738 | -62.2% |
| Remuneration and social security | 454/9 | - | €1,735 | +€1,735 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,128 | €1,165 | +€37 | +3.3% |
| Other operating charges | 640/8 | €862 | €968 | +€106 | +12.3% |
| Gross operating margin | 9900 | €10,471 | €14,114 | +€3,643 | +34.8% |
| Operating profit (loss) | 9901 | €8,481 | €11,982 | +€3,500 | +41.3% |
| Financial income | 75/76B | €11 | €93 | +€82 | +751% |
| Recurring financial income | 75 | €11 | €93 | +€82 | +751% |
| Financial charges | 65/66B | €121 | €1,138 | +€1,016 | +839% |
| Recurring financial charges | 65 | €121 | €1,138 | +€1,016 | +839% |
| Profit (loss) for the period before taxes | 9903 | €8,371 | €10,937 | +€2,566 | +30.7% |
| Income taxes | 67/77 | €2,672 | €2,879 | +€207 | +7.7% |
| Profit (loss) for the period | 9904 | €5,699 | €8,058 | +€2,359 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,699 | €8,058 | +€2,359 | +41.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.