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
- Receivables within one year -€22,910
down €22,910 (-46.5%), from €49,237 to €26,327
of which Trade receivables: -€22,797
- Tangible fixed assets -€2,405
down €2,405 (-7.2%), from €33,618 to €31,213
of which Land and buildings: -€1,909
- Cash +€2,365
up €2,365 (+88.2%), from €2,682 to €5,046
mainly Receivables within one year (+€22,910) and Depreciation (+€7,405)
- Deferred charges and accrued income -€1,005
no longer reported in 2025 (was €1,005)
- Current portion of long-term debt -€17,346
down €17,346 (-72.7%), from €23,867 to €6,521
- Tax, wage and social debts -€6,939
down €6,939 (-45.6%), from €15,210 to €8,272
- Debts after one year -€6,521
no longer reported in 2025 (was €6,521)
- Reserves +€4,665
up €4,665 (+20.9%), from €22,344 to €27,009
of which Distributable reserves: +€4,665
- Trade debts +€2,186
new in 2025: €2,186
- Gross operating margin -€15,039
down €15,039 (-40.6%), from €37,070 to €22,030
- Depreciation -€4,126
down €4,126 (-35.8%), from €11,531 to €7,405
- Other operating charges -€3,568
down €3,568 (-35.0%), from €10,182 to €6,613
- Financial charges +€450
up €450 (+15.5%), from €2,897 to €3,347
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 | €86,542 | €62,587 | -€23,954 | -27.7% |
| Fixed assets | 21/28 | €33,618 | €31,213 | -€2,405 | -7.2% |
| Tangible fixed assets | 22/27 | €33,618 | €31,213 | -€2,405 | -7.2% |
| Land and buildings | 22 | €30,669 | €28,760 | -€1,909 | -6.2% |
| Furniture and vehicles | 24 | €2,949 | €2,453 | -€496 | -16.8% |
| Current assets | 29/58 | €52,923 | €31,374 | -€21,549 | -40.7% |
| Amounts receivable within one year | 40/41 | €49,237 | €26,327 | -€22,910 | -46.5% |
| Trade receivables | 40 | €49,124 | €26,327 | -€22,797 | -46.4% |
| Other amounts receivable | 41 | €113 | - | -€113 | |
| Cash at bank and in hand | 54/58 | €2,682 | €5,046 | +€2,365 | +88.2% |
| Deferred charges and accrued income | 490/1 | €1,005 | - | -€1,005 | |
| Total equity and liabilities | 10/49 | €86,542 | €62,587 | -€23,954 | -27.7% |
| Equity | 10/15 | €40,944 | €45,609 | +€4,665 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,344 | €27,009 | +€4,665 | +20.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,484 | €25,149 | +€4,665 | +22.8% |
| Amounts payable | 17/49 | €45,598 | €16,978 | -€28,620 | -62.8% |
| Amounts payable after more than one year | 17 | €6,521 | - | -€6,521 | |
| Financial debts | 170/4 | €6,521 | - | -€6,521 | |
| Amounts payable within one year | 42/48 | €39,077 | €16,978 | -€22,099 | -56.6% |
| Current portion of amounts payable after more than one year | 42 | €23,867 | €6,521 | -€17,346 | -72.7% |
| Trade debts | 44 | - | €2,186 | +€2,186 | |
| Suppliers | 440/4 | - | €2,186 | +€2,186 | |
| Taxes, remuneration and social security | 45 | €15,210 | €8,272 | -€6,939 | -45.6% |
| Taxes | 450/3 | €15,210 | €8,272 | -€6,939 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,531 | €7,405 | -€4,126 | -35.8% |
| Other operating charges | 640/8 | €10,182 | €6,613 | -€3,568 | -35.0% |
| Gross operating margin | 9900 | €37,070 | €22,030 | -€15,039 | -40.6% |
| Operating profit (loss) | 9901 | €15,357 | €8,012 | -€7,345 | -47.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -85.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -85.7% |
| Financial charges | 65/66B | €2,897 | €3,347 | +€450 | +15.5% |
| Recurring financial charges | 65 | €2,897 | €3,347 | +€450 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | €12,461 | €4,665 | -€7,795 | -62.6% |
| Profit (loss) for the period | 9904 | €12,461 | €4,665 | -€7,795 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,461 | €4,665 | -€7,795 | -62.6% |
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 3 October 2026 via checked.be.