ELCONSTRUCT: what changed
What changed
ELCONSTRUCT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€711,674
2024 · €636,561+€75,113
Equity
€126,565
2024 · €139,891-€13,326
Cash
€1.8m
2024 · €1.3m+€520,608
Balance sheet total
€2.0m
2024 · €1.5m+€480,546
Largest movements
Assets
- Cash +€520,608
up €520,608 (+41.1%), from €1.3m to €1.8m
mainly Net result for the year (+€711,674) and Other debts (+€502,158)
- Receivables within one year -€20,999
down €20,999 (-28.6%), from €73,512 to €52,514
of which Other amounts receivable: -€44,954
Equity and liabilities
- Other debts +€502,158
up €502,158 (+41.2%), from €1.2m to €1.7m
- Tax, wage and social debts -€27,673
down €27,673 (-32.2%), from €85,810 to €58,137
- Accrued charges and deferred income +€23,917
up €23,917 (+106%), from €22,472 to €46,389
Income statement
- Gross operating margin +€123,843
up €123,843 (+16.2%), from €766,067 to €889,909
- Taxes +€25,461
up €25,461 (+29.9%), from €85,286 to €110,747
- Financial charges +€23,927
up €23,927 (+106%), from €22,668 to €46,595
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€636,561
Gross operating margin
+€123,843
Depreciation
-€673
Provisions
-€60
Other operating charges
-€76
Other operating items
+€1,363
Financial income
+€104
Financial charges
-€23,927
Taxes
-€25,461
Result 2025
€711,674
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.3m
Investment
-€6,424
Financing
-€725,000
Cash 2024
€1.3m
From operations (derived)
+€1.3m
Net result for the year
+€711,674
Depreciation
+€21,228
Receivables within one year
+€20,999
Deferred charges and accrued income
+€4,258
Trade debts
-€4,530
Tax, wage and social debts
-€27,673
Other debts
+€502,158
Accrued charges and deferred income
+€23,917
Investment (derived)
-€6,424
Investment in fixed assets (net)
-€6,424
Financing
-€725,000
Contributions, distributions and other
-€725,000
Cash 2025
€1.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,472,833 | €1,953,380 | +€480,546 | +32.6% |
| Fixed assets | 21/28 | €104,800 | €89,995 | -€14,805 | -14.1% |
| Tangible fixed assets | 22/27 | €79,800 | €64,995 | -€14,805 | -18.6% |
| Land and buildings | 22 | €14,565 | €15,903 | +€1,339 | +9.2% |
| Furniture and vehicles | 24 | €65,236 | €49,092 | -€16,144 | -24.7% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €1,368,033 | €1,863,384 | +€495,351 | +36.2% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €73,512 | €52,514 | -€20,999 | -28.6% |
| Trade receivables | 40 | €28,339 | €52,294 | +€23,955 | +84.5% |
| Other amounts receivable | 41 | €45,174 | €220 | -€44,954 | -99.5% |
| Cash at bank and in hand | 54/58 | €1,265,263 | €1,785,870 | +€520,608 | +41.1% |
| Deferred charges and accrued income | 490/1 | €4,258 | - | -€4,258 | |
| Total equity and liabilities | 10/49 | €1,472,833 | €1,953,380 | +€480,546 | +32.6% |
| Equity | 10/15 | €139,891 | €126,565 | -€13,326 | -9.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €103,853 | €103,853 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Other | 1319 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €101,853 | €101,853 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,038 | €2,712 | -€13,326 | -83.1% |
| Amounts payable | 17/49 | €1,332,942 | €1,826,814 | +€493,872 | +37.1% |
| Amounts payable within one year | 42/48 | €1,310,470 | €1,780,425 | +€469,955 | +35.9% |
| Trade debts | 44 | €6,923 | €2,392 | -€4,530 | -65.4% |
| Suppliers | 440/4 | €6,923 | €2,392 | -€4,530 | -65.4% |
| Taxes, remuneration and social security | 45 | €85,810 | €58,137 | -€27,673 | -32.2% |
| Taxes | 450/3 | €85,810 | €58,137 | -€27,673 | -32.2% |
| Other amounts payable | 47/48 | €1,217,738 | €1,719,896 | +€502,158 | +41.2% |
| Accrued charges and deferred income | 492/3 | €22,472 | €46,389 | +€23,917 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,556 | €21,228 | +€673 | +3.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €60 | +€60 | |
| Other operating charges | 640/8 | €132 | €208 | +€76 | +57.6% |
| Non-recurring operating charges | 66A | €2,298 | €935 | -€1,363 | -59.3% |
| Gross operating margin | 9900 | €766,067 | €889,909 | +€123,843 | +16.2% |
| Operating profit (loss) | 9901 | €743,081 | €867,479 | +€124,397 | +16.7% |
| Financial income | 75/76B | €1,433 | €1,537 | +€104 | +7.3% |
| Recurring financial income | 75 | €1,433 | €1,537 | +€104 | +7.3% |
| Financial charges | 65/66B | €22,668 | €46,595 | +€23,927 | +106% |
| Recurring financial charges | 65 | €22,668 | €46,595 | +€23,927 | +106% |
| Profit (loss) for the period before taxes | 9903 | €721,847 | €822,421 | +€100,574 | +13.9% |
| Income taxes | 67/77 | €85,286 | €110,747 | +€25,461 | +29.9% |
| Profit (loss) for the period | 9904 | €636,561 | €711,674 | +€75,113 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €636,561 | €711,674 | +€75,113 | +11.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.