ELCEY: 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.
ELCEY
Largest movements
- Cash +€77,384
up €77,384 (+30.2%), from €256,477 to €333,861
mainly Net result for the year (+€27,819) and Receivables within one year (+€23,880)
- Tangible fixed assets -€34,909
down €34,909 (-59.5%), from €58,644 to €23,735
of which Other tangible fixed assets: -€17,737
- Receivables within one year -€23,880
down €23,880 (-30.3%), from €78,721 to €54,842
of which Other amounts receivable: -€23,964
- Reserves +€27,819
up €27,819 (+8.8%), from €314,878 to €342,697
- Debts after one year -€14,460
down €14,460 (-100.0%), from €14,460 to €0
- Tax, wage and social debts +€4,771
up €4,771 (+26.8%), from €17,786 to €22,557
- Gross operating margin +€31,271
up €31,271 (+12.8%), from €244,867 to €276,138
- Staff costs +€28,273
up €28,273 (+16.5%), from €171,552 to €199,825
- Depreciation -€4,089
down €4,089 (-15.2%), from €26,904 to €22,816
- Taxes +€3,142
up €3,142 (+26.8%), from €11,744 to €14,887
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 | €446,874 | €465,839 | +€18,965 | +4.2% |
| Fixed assets | 21/28 | €58,869 | €23,960 | -€34,909 | -59.3% |
| Tangible fixed assets | 22/27 | €58,644 | €23,735 | -€34,909 | -59.5% |
| Furniture and vehicles | 24 | €18,762 | €1,590 | -€17,172 | -91.5% |
| Other tangible fixed assets | 26 | €39,883 | €22,146 | -€17,737 | -44.5% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €388,005 | €441,879 | +€53,874 | +13.9% |
| Amounts receivable within one year | 40/41 | €78,721 | €54,842 | -€23,880 | -30.3% |
| Trade receivables | 40 | €40,432 | €40,517 | +€85 | +0.2% |
| Other amounts receivable | 41 | €38,289 | €14,325 | -€23,964 | -62.6% |
| Current investments | 50/53 | €51,101 | €51,101 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €256,477 | €333,861 | +€77,384 | +30.2% |
| Deferred charges and accrued income | 490/1 | €1,706 | €2,075 | +€370 | +21.7% |
| Total equity and liabilities | 10/49 | €446,874 | €465,839 | +€18,965 | +4.2% |
| Equity | 10/15 | €388,918 | €416,737 | +€27,819 | +7.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €314,878 | €342,697 | +€27,819 | +8.8% |
| Distributable reserves | 133 | €314,878 | €342,697 | +€27,819 | +8.8% |
| Profit (loss) carried forward | 14 | €67,840 | €67,840 | = | 0.0% |
| Amounts payable | 17/49 | €57,956 | €49,102 | -€8,854 | -15.3% |
| Amounts payable after more than one year | 17 | €14,460 | €0 | -€14,460 | -100.0% |
| Financial debts | 170/4 | €14,460 | €0 | -€14,460 | -100.0% |
| Amounts payable within one year | 42/48 | €42,810 | €49,102 | +€6,292 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €11,491 | €15,374 | +€3,883 | +33.8% |
| Trade debts | 44 | €4,375 | €595 | -€3,780 | -86.4% |
| Suppliers | 440/4 | €4,375 | €595 | -€3,780 | -86.4% |
| Taxes, remuneration and social security | 45 | €17,786 | €22,557 | +€4,771 | +26.8% |
| Remuneration and social security | 454/9 | €17,786 | €22,557 | +€4,771 | +26.8% |
| Other amounts payable | 47/48 | €9,158 | €10,576 | +€1,418 | +15.5% |
| Accrued charges and deferred income | 492/3 | €686 | €0 | -€686 | -100.0% |
| Non-recurring operating income | 76A | €0 | €10,778 | +€10,778 | |
| Remuneration, social security and pensions | 62 | €171,552 | €199,825 | +€28,273 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,904 | €22,816 | -€4,089 | -15.2% |
| Other operating charges | 640/8 | €1,106 | €1,557 | +€451 | +40.8% |
| Non-recurring operating charges | 66A | €0 | €6,213 | +€6,213 | |
| Gross operating margin | 9900 | €244,867 | €276,138 | +€31,271 | +12.8% |
| Operating profit (loss) | 9901 | €45,304 | €45,726 | +€422 | +0.9% |
| Financial income | 75/76B | €1,075 | €2,111 | +€1,036 | +96.4% |
| Recurring financial income | 75 | €1,075 | €2,111 | +€1,036 | +96.4% |
| Financial charges | 65/66B | €6,482 | €5,131 | -€1,351 | -20.8% |
| Recurring financial charges | 65 | €6,482 | €5,131 | -€1,351 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €39,897 | €42,706 | +€2,809 | +7.0% |
| Income taxes | 67/77 | €11,744 | €14,887 | +€3,142 | +26.8% |
| Profit (loss) for the period | 9904 | €28,153 | €27,819 | -€333 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,153 | €27,819 | -€333 | -1.2% |
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 4 October 2026 via checked.be.