ELCEPAR: 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.
ELCEPAR
Largest movements
- Tangible fixed assets -€27,884
down €27,884 (-6.5%), from €430,166 to €402,282
of which Land and buildings: -€26,501
- Cash +€5,394
up €5,394 (+28.2%), from €19,122 to €24,516
mainly Depreciation (+€27,884) and Other debts (+€17,722)
- Other debts +€17,722
up €17,722 (+23.7%), from €74,837 to €92,560
- Trade debts -€17,452
down €17,452 (-97.5%), from €17,902 to €450
- Debts after one year -€12,107
down €12,107 (-6.1%), from €197,677 to €185,570
- Provisions -€5,000
no longer reported in 2025 (was €5,000)
- Provisions -€5,000
new in 2025: -€5,000
- Depreciation +€4,510
up €4,510 (+19.3%), from €23,374 to €27,884
- Financial charges +€917
up €917 (+10.8%), from €8,455 to €9,372
- Gross operating margin +€622
up €622 (+2.0%), from €30,904 to €31,526
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 | €449,288 | €426,798 | -€22,490 | -5.0% |
| Fixed assets | 21/28 | €430,166 | €402,282 | -€27,884 | -6.5% |
| Tangible fixed assets | 22/27 | €430,166 | €402,282 | -€27,884 | -6.5% |
| Land and buildings | 22 | €421,978 | €395,477 | -€26,501 | -6.3% |
| Plant, machinery and equipment | 23 | €8,188 | €6,805 | -€1,383 | -16.9% |
| Current assets | 29/58 | €19,122 | €24,516 | +€5,394 | +28.2% |
| Cash at bank and in hand | 54/58 | €19,122 | €24,516 | +€5,394 | +28.2% |
| Total equity and liabilities | 10/49 | €449,288 | €426,798 | -€22,490 | -5.0% |
| Equity | 10/15 | €136,957 | €134,059 | -€2,898 | -2.1% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €15,500 | €15,500 | = | 0.0% |
| Distributable reserves | 133 | €15,500 | €15,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,543 | -€6,441 | -€2,898 | -81.8% |
| Provisions and deferred taxes | 16 | €5,000 | - | -€5,000 | |
| Provisions for liabilities and charges | 160/5 | €5,000 | - | -€5,000 | |
| Other liabilities and charges | 164/5 | €5,000 | - | -€5,000 | |
| Amounts payable | 17/49 | €307,331 | €292,739 | -€14,592 | -4.7% |
| Amounts payable after more than one year | 17 | €197,677 | €185,570 | -€12,107 | -6.1% |
| Financial debts | 170/4 | €197,677 | €185,570 | -€12,107 | -6.1% |
| Amounts payable within one year | 42/48 | €106,716 | €107,169 | +€453 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €11,925 | €12,107 | +€183 | +1.5% |
| Trade debts | 44 | €17,902 | €450 | -€17,452 | -97.5% |
| Suppliers | 440/4 | €17,902 | €450 | -€17,452 | -97.5% |
| Taxes, remuneration and social security | 45 | €2,052 | €2,052 | = | 0.0% |
| Taxes | 450/3 | €2,052 | €2,052 | = | 0.0% |
| Other amounts payable | 47/48 | €74,837 | €92,560 | +€17,722 | +23.7% |
| Accrued charges and deferred income | 492/3 | €2,937 | - | -€2,937 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,374 | €27,884 | +€4,510 | +19.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€5,000 | -€5,000 | |
| Other operating charges | 640/8 | €2,102 | €2,168 | +€66 | +3.2% |
| Gross operating margin | 9900 | €30,904 | €31,526 | +€622 | +2.0% |
| Operating profit (loss) | 9901 | €5,428 | €6,474 | +€1,045 | +19.3% |
| Financial charges | 65/66B | €8,455 | €9,372 | +€917 | +10.8% |
| Recurring financial charges | 65 | €8,455 | €9,372 | +€917 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,027 | -€2,898 | +€128 | +4.2% |
| Profit (loss) for the period | 9904 | -€3,027 | -€2,898 | +€128 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,027 | -€2,898 | +€128 | +4.2% |
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 6 October 2026 via checked.be.