ELCO: 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.
ELCO
Largest movements
- Tangible fixed assets -€314,547
down €314,547 (-7.2%), from €4.4m to €4.1m
of which Land and buildings: -€314,500
- Receivables within one year -€56,667
down €56,667 (-22.7%), from €249,745 to €193,078
- Short-term financial debts -€263,177
down €263,177 (-14.0%), from €1.9m to €1.6m
- Profit (loss) carried forward -€53,169
down €53,169 (-3.1%), from -€1.7m to -€1.7m
- Reserves -€47,891
down €47,891 (-7.2%), from €668,362 to €620,472
of which Tax-exempt reserves: -€47,891
- Gross operating margin -€137,964
down €137,964 (-30.7%), from €449,818 to €311,854
- Depreciation -€16,059
down €16,059 (-4.8%), from €331,853 to €315,794
- Financial charges -€9,094
down €9,094 (-13.1%), from €69,255 to €60,161
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,639,357 | €4,263,367 | -€375,990 | -8.1% |
| Fixed assets | 21/28 | €4,384,836 | €4,070,289 | -€314,547 | -7.2% |
| Tangible fixed assets | 22/27 | €4,384,836 | €4,070,289 | -€314,547 | -7.2% |
| Land and buildings | 22 | €4,384,789 | €4,070,289 | -€314,500 | -7.2% |
| Furniture and vehicles | 24 | €47 | - | -€47 | |
| Current assets | 29/58 | €254,521 | €193,078 | -€61,443 | -24.1% |
| Amounts receivable within one year | 40/41 | €249,745 | €193,078 | -€56,667 | -22.7% |
| Other amounts receivable | 41 | €249,745 | €193,078 | -€56,667 | -22.7% |
| Cash at bank and in hand | 54/58 | €1,338 | - | -€1,338 | |
| Deferred charges and accrued income | 490/1 | €3,438 | - | -€3,438 | |
| Total equity and liabilities | 10/49 | €4,639,357 | €4,263,367 | -€375,990 | -8.1% |
| Equity | 10/15 | -€961,179 | -€1,062,239 | -€101,060 | -10.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €668,362 | €620,472 | -€47,891 | -7.2% |
| Non-distributable reserves | 130/1 | €1,884 | €1,884 | = | 0.0% |
| Legal reserve | 130 | €1,884 | €1,884 | = | 0.0% |
| Tax-exempt reserves | 132 | €666,478 | €618,588 | -€47,891 | -7.2% |
| Profit (loss) carried forward | 14 | -€1,691,515 | -€1,744,684 | -€53,169 | -3.1% |
| Provisions and deferred taxes | 16 | €343,337 | €318,666 | -€24,671 | -7.2% |
| Deferred taxes | 168 | €343,337 | €318,666 | -€24,671 | -7.2% |
| Amounts payable | 17/49 | €5,257,199 | €5,006,939 | -€250,260 | -4.8% |
| Amounts payable within one year | 42/48 | €5,257,199 | €5,006,939 | -€250,260 | -4.8% |
| Financial debts | 43 | €1,873,347 | €1,610,170 | -€263,177 | -14.0% |
| Credit institutions | 430/8 | €1,873,347 | €1,610,170 | -€263,177 | -14.0% |
| Trade debts | 44 | €131,821 | €137,207 | +€5,386 | +4.1% |
| Suppliers | 440/4 | €131,821 | €137,207 | +€5,386 | +4.1% |
| Taxes, remuneration and social security | 45 | €963 | €1,422 | +€459 | +47.7% |
| Taxes | 450/3 | €963 | €1,422 | +€459 | +47.7% |
| Other amounts payable | 47/48 | €3,251,068 | €3,258,140 | +€7,072 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331,853 | €315,794 | -€16,059 | -4.8% |
| Other operating charges | 640/8 | €57,710 | €61,170 | +€3,460 | +6.0% |
| Gross operating margin | 9900 | €449,818 | €311,854 | -€137,964 | -30.7% |
| Operating profit (loss) | 9901 | €60,255 | -€65,111 | -€125,365 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €69,255 | €60,161 | -€9,094 | -13.1% |
| Recurring financial charges | 65 | €69,255 | €60,161 | -€9,094 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,995 | -€125,271 | -€116,276 | -1292.7% |
| Transfer from deferred taxes | 780 | €72,562 | €72,562 | = | 0.0% |
| Income taxes | 67/77 | €476 | €459 | -€17 | -3.6% |
| Profit (loss) for the period | 9904 | €63,090 | -€53,169 | -€116,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,090 | -€53,169 | -€116,259 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.