ELCEGO: 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.
ELCEGO
Largest movements
- Cash -€130,796
down €130,796 (-99.3%), from €131,732 to €936
mainly Contributions, distributions and other (-€281,772) and Investment in fixed assets (net) (-€72,078)
- Current investments -€73,007
down €73,007 (-100.0%), from €73,007 to €0
- Tangible fixed assets +€64,761
up €64,761 (+613.2%), from €10,562 to €75,322
- Receivables within one year +€18,496
up €18,496 (+89.9%), from €20,570 to €39,066
- Reserves -€185,504
down €185,504 (-100.0%), from €185,504 to €0
- Other debts +€83,290
up €83,290 (+45586.1%), from €183 to €83,473
- Tax, wage and social debts -€21,110
down €21,110 (-43.3%), from €48,775 to €27,664
- Gross operating margin +€11,237
up €11,237 (+9.8%), from €114,317 to €125,553
- Financial income +€4,363
up €4,363 (+267.8%), from €1,629 to €5,992
- Taxes +€2,759
up €2,759 (+11.5%), from €23,953 to €26,712
- Depreciation +€1,771
up €1,771 (+31.9%), from €5,546 to €7,317
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 | €237,300 | €116,372 | -€120,928 | -51.0% |
| Fixed assets | 21/28 | €10,562 | €75,322 | +€64,761 | +613.2% |
| Tangible fixed assets | 22/27 | €10,562 | €75,322 | +€64,761 | +613.2% |
| Furniture and vehicles | 24 | €10,562 | €75,322 | +€64,761 | +613.2% |
| Current assets | 29/58 | €226,738 | €41,049 | -€185,689 | -81.9% |
| Amounts receivable within one year | 40/41 | €20,570 | €39,066 | +€18,496 | +89.9% |
| Trade receivables | 40 | €20,570 | €39,066 | +€18,496 | +89.9% |
| Current investments | 50/53 | €73,007 | €0 | -€73,007 | -100.0% |
| Cash at bank and in hand | 54/58 | €131,732 | €936 | -€130,796 | -99.3% |
| Deferred charges and accrued income | 490/1 | €1,430 | €1,047 | -€383 | -26.8% |
| Total equity and liabilities | 10/49 | €237,300 | €116,372 | -€120,928 | -51.0% |
| Equity | 10/15 | €187,504 | €2,000 | -€185,504 | -98.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €185,504 | €0 | -€185,504 | -100.0% |
| Distributable reserves | 133 | €185,504 | €0 | -€185,504 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €49,796 | €114,372 | +€64,575 | +129.7% |
| Amounts payable within one year | 42/48 | €49,796 | €114,130 | +€64,334 | +129.2% |
| Trade debts | 44 | €839 | €2,993 | +€2,154 | +256.7% |
| Suppliers | 440/4 | €839 | €2,993 | +€2,154 | +256.7% |
| Taxes, remuneration and social security | 45 | €48,775 | €27,664 | -€21,110 | -43.3% |
| Taxes | 450/3 | €48,775 | €27,664 | -€21,110 | -43.3% |
| Other amounts payable | 47/48 | €183 | €83,473 | +€83,290 | +45586.1% |
| Accrued charges and deferred income | 492/3 | - | €241 | +€241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,546 | €7,317 | +€1,771 | +31.9% |
| Other operating charges | 640/8 | €182 | €585 | +€404 | +222.0% |
| Gross operating margin | 9900 | €114,317 | €125,553 | +€11,237 | +9.8% |
| Operating profit (loss) | 9901 | €108,588 | €117,651 | +€9,062 | +8.3% |
| Financial income | 75/76B | €1,629 | €5,992 | +€4,363 | +267.8% |
| Recurring financial income | 75 | €1,629 | €5,992 | +€4,363 | +267.8% |
| Financial charges | 65/66B | €984 | €662 | -€322 | -32.8% |
| Recurring financial charges | 65 | €984 | €662 | -€322 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €109,233 | €122,981 | +€13,747 | +12.6% |
| Income taxes | 67/77 | €23,953 | €26,712 | +€2,759 | +11.5% |
| Profit (loss) for the period | 9904 | €85,280 | €96,268 | +€10,988 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €85,280 | €96,268 | +€10,988 | +12.9% |
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 4 October 2026 via checked.be.