ELDAJO: 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.
What changed
ELDAJO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€15,494
2024 · €388,722-€404,216
Equity
€434,568
2024 · €450,062-€15,494
Cash
€1,020
2024 · €336+€684
Balance sheet total
€642,764
2024 · €657,889-€15,125
Largest movements
Assets
- Receivables within one year -€180,942
down €180,942 (-82.2%), from €220,084 to €39,141
of which Other amounts receivable: -€174,945
- Financial fixed assets +€154,424
new in 2025: €154,424
- Tangible fixed assets +€25,758
up €25,758 (+6.2%), from €417,125 to €442,883
of which Assets under construction and advance payments: +€15,000
- Current investments -€15,105
down €15,105 (-75.9%), from €19,893 to €4,788
Equity and liabilities
- Trade debts -€28,247
down €28,247 (-98.9%), from €28,575 to €328
- Other debts +€24,240
up €24,240 (+60.3%), from €40,174 to €64,414
- Profit (loss) carried forward -€16,324
down €16,324 (-10.6%), from -€154,202 to -€170,526
Income statement
- Gross operating margin -€542,984
down €542,984 (-98.6%), from €550,487 to €7,504
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.
Result 2024
€388,722
Gross operating margin
-€542,984
Depreciation
-€1,693
Other operating charges
-€2,430
Other operating items
+€2,442
Financial income
+€530
Financial charges
+€5,011
Taxes
-€3,895
Deferred taxes and other
+€138,802
Result 2025
-€15,494
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€173,644
Investment
-€175,559
Financing
+€2,599
Cash 2024
€336
From operations (derived)
+€173,644
Net result for the year
-€15,494
Depreciation
+€10,481
Receivables within one year
+€180,942
Smaller working-capital items
+€221
Trade debts
-€28,247
Other debts
+€24,240
Accrued charges and deferred income
+€1,500
Investment (derived)
-€175,559
Investment in fixed assets (net)
-€190,663
Current investments
+€15,105
Financing
+€2,599
Short-term financial debts
+€2,599
Cash 2025
€1,020
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €657,889 | €642,764 | -€15,125 | -2.3% |
| Fixed assets | 21/28 | €417,125 | €597,307 | +€180,182 | +43.2% |
| Tangible fixed assets | 22/27 | €417,125 | €442,883 | +€25,758 | +6.2% |
| Land and buildings | 22 | €417,125 | €427,883 | +€10,758 | +2.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Assets under construction and advance payments | 27 | - | €15,000 | +€15,000 | |
| Financial fixed assets | 28 | - | €154,424 | +€154,424 | |
| Current assets | 29/58 | €240,765 | €45,458 | -€195,307 | -81.1% |
| Amounts receivable within one year | 40/41 | €220,084 | €39,141 | -€180,942 | -82.2% |
| Trade receivables | 40 | €5,997 | €0 | -€5,997 | -100% |
| Other amounts receivable | 41 | €214,087 | €39,141 | -€174,945 | -81.7% |
| Current investments | 50/53 | €19,893 | €4,788 | -€15,105 | -75.9% |
| Cash at bank and in hand | 54/58 | €336 | €1,020 | +€684 | +204% |
| Deferred charges and accrued income | 490/1 | €452 | €508 | +€56 | +12.3% |
| Total equity and liabilities | 10/49 | €657,889 | €642,764 | -€15,125 | -2.3% |
| Equity | 10/15 | €450,062 | €434,568 | -€15,494 | -3.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €82,500 | €82,500 | = | 0.0% |
| Uncalled capital | 101 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €541,764 | €542,594 | +€830 | +0.2% |
| Non-distributable reserves | 130/1 | €8,250 | €8,250 | = | 0.0% |
| Legal reserve | 130 | €8,250 | €8,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €417,237 | €418,067 | +€830 | +0.2% |
| Distributable reserves | 133 | €116,277 | €116,277 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,202 | -€170,526 | -€16,324 | -10.6% |
| Provisions and deferred taxes | 16 | €139,079 | €139,356 | +€277 | +0.2% |
| Deferred taxes | 168 | €139,079 | €139,356 | +€277 | +0.2% |
| Amounts payable | 17/49 | €68,749 | €68,841 | +€92 | +0.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €68,749 | €67,341 | -€1,408 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | €2,599 | +€2,599 | |
| Credit institutions | 430/8 | €0 | €2,599 | +€2,599 | |
| Trade debts | 44 | €28,575 | €328 | -€28,247 | -98.9% |
| Suppliers | 440/4 | €28,575 | €328 | -€28,247 | -98.9% |
| Other amounts payable | 47/48 | €40,174 | €64,414 | +€24,240 | +60.3% |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Non-recurring operating income | 76A | €559,731 | €0 | -€559,731 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,788 | €10,481 | +€1,693 | +19.3% |
| Other operating charges | 640/8 | €2,603 | €5,033 | +€2,430 | +93.3% |
| Non-recurring operating charges | 66A | €2,442 | €0 | -€2,442 | -100% |
| Gross operating margin | 9900 | €550,487 | €7,504 | -€542,984 | -98.6% |
| Operating profit (loss) | 9901 | €536,655 | -€8,010 | -€544,665 | |
| Financial income | 75/76B | €1,294 | €1,824 | +€530 | +41.0% |
| Recurring financial income | 75 | €1,294 | €1,824 | +€530 | +41.0% |
| Financial charges | 65/66B | €11,043 | €6,031 | -€5,011 | -45.4% |
| Recurring financial charges | 65 | €11,043 | €841 | -€10,201 | -92.4% |
| Non-recurring financial charges | 66B | - | €5,190 | +€5,190 | |
| Profit (loss) for the period before taxes | 9903 | €526,906 | -€12,217 | -€539,123 | |
| Transfer from deferred taxes | 780 | €243 | €334 | +€90 | +37.2% |
| Transfer to deferred taxes | 680 | €139,322 | €611 | -€138,712 | -99.6% |
| Income taxes | 67/77 | -€895 | €3,000 | +€3,895 | |
| Profit (loss) for the period | 9904 | €388,722 | -€15,494 | -€404,216 | |
| Transfer from tax-exempt reserves | 789 | €730 | €1,001 | +€271 | +37.2% |
| Transfer to tax-exempt reserves | 689 | €417,966 | €1,832 | -€416,135 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,514 | -€16,324 | +€12,190 | +42.8% |
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 18 October 2026 via checked.be.