ELCON - LIMBURG: what changed
Two financial 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.
ELCON - LIMBURG
Largest movements
- Receivables after one year +€401,849
new in 2025: €401,849
- Receivables within one year +€120,651
up €120,651 (+140.0%), from €86,177 to €206,827
of which Trade receivables: +€84,462
- Stocks and contracts -€101,707
down €101,707 (-92.8%), from €109,629 to €7,921
of which Contracts in progress: -€103,331
- Cash -€100,061
down €100,061 (-8.0%), from €1.2m to €1.1m
mainly Receivables after one year (-€401,849) and Investment in fixed assets (net) (-€236,841)
- Tangible fixed assets +€24,776
up €24,776 (+4.8%), from €513,502 to €538,278
of which Other tangible fixed assets: +€62,674
- Reserves +€389,863
up €389,863 (+22.8%), from €1.7m to €2.1m
of which Distributable reserves: +€395,869
- Other debts -€124,586
down €124,586 (-100.0%), from €124,586 to €0
- Tax, wage and social debts +€84,760
up €84,760 (+78.8%), from €107,588 to €192,348
of which Taxes: +€77,462
- Depreciation +€37,728
up €37,728 (+21.6%), from €174,337 to €212,065
- Gross operating margin +€23,864
up €23,864 (+2.2%), from €1.1m to €1.1m
- Staff costs +€14,370
up €14,370 (+4.6%), from €314,668 to €329,037
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 | €1,976,222 | €2,323,368 | +€347,146 | +17.6% |
| Fixed assets | 21/28 | €513,502 | €538,278 | +€24,776 | +4.8% |
| Tangible fixed assets | 22/27 | €513,502 | €538,278 | +€24,776 | +4.8% |
| Plant, machinery and equipment | 23 | €280,037 | €302,992 | +€22,956 | +8.2% |
| Furniture and vehicles | 24 | €233,465 | €172,612 | -€60,853 | -26.1% |
| Other tangible fixed assets | 26 | - | €62,674 | +€62,674 | |
| Current assets | 29/58 | €1,462,720 | €1,785,090 | +€322,370 | +22.0% |
| Amounts receivable after more than one year | 29 | - | €401,849 | +€401,849 | |
| Other amounts receivable | 291 | - | €401,849 | +€401,849 | |
| Stocks and contracts in progress | 3 | €109,629 | €7,921 | -€101,707 | -92.8% |
| Stocks | 30/36 | €6,297 | €7,921 | +€1,624 | +25.8% |
| Contracts in progress | 37 | €103,331 | €0 | -€103,331 | -100.0% |
| Amounts receivable within one year | 40/41 | €86,177 | €206,827 | +€120,651 | +140.0% |
| Trade receivables | 40 | €68,917 | €153,379 | +€84,462 | +122.6% |
| Other amounts receivable | 41 | €17,259 | €53,449 | +€36,189 | +209.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,249,379 | €1,149,319 | -€100,061 | -8.0% |
| Deferred charges and accrued income | 490/1 | €17,536 | €19,173 | +€1,638 | +9.3% |
| Total equity and liabilities | 10/49 | €1,976,222 | €2,323,368 | +€347,146 | +17.6% |
| Equity | 10/15 | €1,732,538 | €2,122,401 | +€389,863 | +22.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,707,538 | €2,097,401 | +€389,863 | +22.8% |
| Tax-exempt reserves | 132 | €16,566 | €10,560 | -€6,006 | -36.3% |
| Distributable reserves | 133 | €1,690,973 | €2,086,842 | +€395,869 | +23.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €5,522 | €3,520 | -€2,002 | -36.3% |
| Deferred taxes | 168 | €5,522 | €3,520 | -€2,002 | -36.3% |
| Amounts payable | 17/49 | €238,162 | €197,447 | -€40,715 | -17.1% |
| Amounts payable within one year | 42/48 | €238,162 | €197,447 | -€40,715 | -17.1% |
| Trade debts | 44 | €5,988 | €5,099 | -€889 | -14.8% |
| Suppliers | 440/4 | €5,988 | €5,099 | -€889 | -14.8% |
| Taxes, remuneration and social security | 45 | €107,588 | €192,348 | +€84,760 | +78.8% |
| Taxes | 450/3 | €95,378 | €172,840 | +€77,462 | +81.2% |
| Remuneration and social security | 454/9 | €12,210 | €19,507 | +€7,297 | +59.8% |
| Other amounts payable | 47/48 | €124,586 | €0 | -€124,586 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €15,413 | €25,448 | +€10,035 | +65.1% |
| Remuneration, social security and pensions | 62 | €314,668 | €329,037 | +€14,370 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,337 | €212,065 | +€37,728 | +21.6% |
| Other operating charges | 640/8 | €7,154 | €4,506 | -€2,649 | -37.0% |
| Non-recurring operating charges | 66A | €580 | - | -€580 | |
| Gross operating margin | 9900 | €1,089,604 | €1,113,468 | +€23,864 | +2.2% |
| Operating profit (loss) | 9901 | €592,865 | €567,860 | -€25,005 | -4.2% |
| Financial income | 75/76B | €3,471 | €7,175 | +€3,704 | +106.7% |
| Recurring financial income | 75 | €3,471 | €7,175 | +€3,704 | +106.7% |
| Financial charges | 65/66B | €2,168 | €2,557 | +€389 | +17.9% |
| Recurring financial charges | 65 | €2,168 | €2,557 | +€389 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €594,168 | €572,478 | -€21,690 | -3.7% |
| Transfer from deferred taxes | 780 | €1,494 | €2,002 | +€508 | +34.0% |
| Transfer to deferred taxes | 680 | €3,750 | €0 | -€3,750 | -100.0% |
| Income taxes | 67/77 | €186,108 | €184,617 | -€1,491 | -0.8% |
| Profit (loss) for the period | 9904 | €405,804 | €389,863 | -€15,941 | -3.9% |
| Transfer from tax-exempt reserves | 789 | €4,482 | €6,006 | +€1,525 | +34.0% |
| Transfer to tax-exempt reserves | 689 | €11,250 | €0 | -€11,250 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €399,035 | €395,869 | -€3,166 | -0.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.