ELD PROJECTS: 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.
ELD PROJECTS
Largest movements
- Stocks and contracts +€193,172
up €193,172 (+8.1%), from €2.4m to €2.6m
of which Contracts in progress: +€636,527
- Receivables within one year +€97,314
up €97,314 (+22.5%), from €433,174 to €530,488
of which Other amounts receivable: +€105,025
- Advances received +€1.2m
up €1.2m (+272.5%), from €434,309 to €1.6m
- Short-term financial debts -€871,514
no longer reported in 2025 (was €871,514)
- Trade debts +€107,256
up €107,256 (+48.0%), from €223,604 to €330,860
- Profit (loss) carried forward -€82,943
new in 2025: -€82,943
- Accrued charges and deferred income -€36,628
no longer reported in 2025 (was €36,628)
- Gross operating margin -€191,387
down €191,387, from €160,762 to -€30,626
- Other operating charges -€37,513
down €37,513 (-78.4%), from €47,870 to €10,357
- Write-downs -€17,734
no longer reported in 2025 (was €17,734)
- Taxes -€11,531
down €11,531 (-89.4%), from €12,898 to €1,367
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 | €2,812,844 | €3,131,475 | +€318,631 | +11.3% |
| Fixed assets | 21/28 | €1,000 | - | -€1,000 | |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €2,811,844 | €3,131,475 | +€319,631 | +11.4% |
| Stocks and contracts in progress | 3 | €2,378,237 | €2,571,409 | +€193,172 | +8.1% |
| Stocks | 30/36 | €443,356 | - | -€443,356 | |
| Contracts in progress | 37 | €1,934,882 | €2,571,409 | +€636,527 | +32.9% |
| Amounts receivable within one year | 40/41 | €433,174 | €530,488 | +€97,314 | +22.5% |
| Trade receivables | 40 | €126,880 | €119,170 | -€7,711 | -6.1% |
| Other amounts receivable | 41 | €306,293 | €411,318 | +€105,025 | +34.3% |
| Cash at bank and in hand | 54/58 | €434 | €28,700 | +€28,266 | +6520.3% |
| Deferred charges and accrued income | 490/1 | - | €878 | +€878 | |
| Total equity and liabilities | 10/49 | €2,812,844 | €3,131,475 | +€318,631 | +11.3% |
| Equity | 10/15 | €459,375 | €376,432 | -€82,943 | -18.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €429,375 | €429,375 | = | 0.0% |
| Distributable reserves | 133 | €429,375 | €429,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€82,943 | -€82,943 | |
| Amounts payable | 17/49 | €2,353,469 | €2,755,043 | +€401,574 | +17.1% |
| Amounts payable within one year | 42/48 | €2,316,842 | €2,755,043 | +€438,201 | +18.9% |
| Financial debts | 43 | €871,514 | - | -€871,514 | |
| Credit institutions | 430/8 | €871,514 | - | -€871,514 | |
| Trade debts | 44 | €223,604 | €330,860 | +€107,256 | +48.0% |
| Suppliers | 440/4 | €223,604 | €330,860 | +€107,256 | +48.0% |
| Advances received on contracts in progress | 46 | €434,309 | €1,617,866 | +€1.2m | +272.5% |
| Taxes, remuneration and social security | 45 | €8,518 | €27,421 | +€18,903 | +221.9% |
| Taxes | 450/3 | €8,518 | €27,421 | +€18,903 | +221.9% |
| Other amounts payable | 47/48 | €778,896 | €778,896 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €36,628 | - | -€36,628 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,734 | - | -€17,734 | |
| Other operating charges | 640/8 | €47,870 | €10,357 | -€37,513 | -78.4% |
| Gross operating margin | 9900 | €160,762 | -€30,626 | -€191,387 | |
| Operating profit (loss) | 9901 | €95,158 | -€40,983 | -€136,141 | |
| Financial income | 75/76B | €294 | - | -€294 | |
| Recurring financial income | 75 | €294 | - | -€294 | |
| Financial charges | 65/66B | €40,434 | €40,593 | +€160 | +0.4% |
| Recurring financial charges | 65 | €40,434 | €40,593 | +€160 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €55,018 | -€81,576 | -€136,594 | |
| Income taxes | 67/77 | €12,898 | €1,367 | -€11,531 | -89.4% |
| Profit (loss) for the period | 9904 | €42,120 | -€82,943 | -€125,063 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,120 | -€82,943 | -€125,063 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.