Elde: 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.
Elde
Largest movements
- Tangible fixed assets +€442,523
up €442,523 (+104.0%), from €425,616 to €868,139
of which Other tangible fixed assets: +€416,313
- Cash -€166,816
down €166,816 (-24.7%), from €675,203 to €508,388
mainly Investment in fixed assets (net) (-€465,716) and Tax, wage and social debts (-€82,646)
- Debts after one year +€184,844
up €184,844 (+231.0%), from €80,025 to €264,869
of which Financial debts: +€184,744
- Reserves +€163,043
up €163,043 (+43.1%), from €378,260 to €541,304
of which Distributable reserves: +€163,043
- Tax, wage and social debts -€82,646
down €82,646 (-87.2%), from €94,821 to €12,175
of which Taxes: -€84,395
- Current portion of long-term debt +€20,053
up €20,053 (+79.6%), from €25,203 to €45,256
- Gross operating margin +€211,175
up €211,175 (+118.6%), from €178,100 to €389,275
- Taxes +€62,886
up €62,886, from -€3,457 to €59,429
- Staff costs +€11,611
up €11,611 (+13.2%), from €87,738 to €99,349
- Other operating charges +€10,526
up €10,526 (+27.8%), from €37,807 to €48,333
- Write-downs -€5,500
down €5,500 (-542.4%), from -€1,014 to -€6,513
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 | €1,553,112 | €1,837,949 | +€284,838 | +18.3% |
| Fixed assets | 21/28 | €428,213 | €870,493 | +€442,280 | +103.3% |
| Tangible fixed assets | 22/27 | €425,616 | €868,139 | +€442,523 | +104.0% |
| Land and buildings | 22 | €167,961 | €194,170 | +€26,210 | +15.6% |
| Other tangible fixed assets | 26 | €257,656 | €673,969 | +€416,313 | +161.6% |
| Financial fixed assets | 28 | €2,597 | €2,353 | -€243 | -9.4% |
| Current assets | 29/58 | €1,124,899 | €967,457 | -€157,442 | -14.0% |
| Stocks and contracts in progress | 3 | €432,587 | €432,587 | = | 0.0% |
| Stocks | 30/36 | €432,587 | €432,587 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,108 | €24,040 | +€6,932 | +40.5% |
| Trade receivables | 40 | €4,486 | €120 | -€4,366 | -97.3% |
| Other amounts receivable | 41 | €12,623 | €23,921 | +€11,298 | +89.5% |
| Cash at bank and in hand | 54/58 | €675,203 | €508,388 | -€166,816 | -24.7% |
| Deferred charges and accrued income | 490/1 | - | €2,441 | +€2,441 | |
| Total equity and liabilities | 10/49 | €1,553,112 | €1,837,949 | +€284,838 | +18.3% |
| Equity | 10/15 | €1,320,256 | €1,483,299 | +€163,043 | +12.3% |
| Contributions | 10/11 | €941,995 | €941,995 | = | 0.0% |
| Capital | 10 | €941,995 | €941,995 | = | 0.0% |
| Issued capital | 100 | €941,995 | €941,995 | = | 0.0% |
| Reserves | 13 | €378,260 | €541,304 | +€163,043 | +43.1% |
| Non-distributable reserves | 130/1 | €94,200 | €94,200 | = | 0.0% |
| Legal reserve | 130 | €94,200 | €94,200 | = | 0.0% |
| Distributable reserves | 133 | €284,061 | €447,104 | +€163,043 | +57.4% |
| Amounts payable | 17/49 | €232,856 | €354,650 | +€121,794 | +52.3% |
| Amounts payable after more than one year | 17 | €80,025 | €264,869 | +€184,844 | +231.0% |
| Financial debts | 170/4 | €64,641 | €249,385 | +€184,744 | +285.8% |
| Other amounts payable | 178/9 | €15,384 | €15,484 | +€100 | +0.7% |
| Amounts payable within one year | 42/48 | €147,965 | €87,308 | -€60,657 | -41.0% |
| Current portion of amounts payable after more than one year | 42 | €25,203 | €45,256 | +€20,053 | +79.6% |
| Trade debts | 44 | €27,941 | €29,877 | +€1,936 | +6.9% |
| Suppliers | 440/4 | €27,941 | €29,877 | +€1,936 | +6.9% |
| Taxes, remuneration and social security | 45 | €94,821 | €12,175 | -€82,646 | -87.2% |
| Taxes | 450/3 | €84,695 | €300 | -€84,395 | -99.6% |
| Remuneration and social security | 454/9 | €10,126 | €11,875 | +€1,749 | +17.3% |
| Accrued charges and deferred income | 492/3 | €4,866 | €2,473 | -€2,393 | -49.2% |
| Remuneration, social security and pensions | 62 | €87,738 | €99,349 | +€11,611 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,263 | €23,436 | -€2,827 | -10.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,014 | -€6,513 | -€5,500 | -542.4% |
| Other operating charges | 640/8 | €37,807 | €48,333 | +€10,526 | +27.8% |
| Gross operating margin | 9900 | €178,100 | €389,275 | +€211,175 | +118.6% |
| Operating profit (loss) | 9901 | €27,305 | €224,670 | +€197,365 | +722.8% |
| Financial income | 75/76B | €154 | €0 | -€154 | -99.9% |
| Recurring financial income | 75 | €154 | €0 | -€154 | -99.9% |
| Financial charges | 65/66B | €2,531 | €2,199 | -€332 | -13.1% |
| Recurring financial charges | 65 | €2,531 | €2,199 | -€332 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €24,929 | €222,472 | +€197,543 | +792.4% |
| Income taxes | 67/77 | -€3,457 | €59,429 | +€62,886 | |
| Profit (loss) for the period | 9904 | €28,386 | €163,043 | +€134,657 | +474.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,386 | €163,043 | +€134,657 | +474.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.