Eldece: 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.
Eldece
Largest movements
- Tangible fixed assets -€33,475
down €33,475 (-14.1%), from €237,193 to €203,717
of which Land and buildings: -€30,931
- Receivables within one year +€18,176
up €18,176 (+73.3%), from €24,798 to €42,975
of which Other amounts receivable: +€17,868
- Current investments -€18,021
down €18,021 (-44.9%), from €40,131 to €22,110
- Receivables after one year -€12,040
down €12,040 (-13.4%), from €89,600 to €77,560
- Cash +€10,604
up €10,604 (+42.1%), from €25,185 to €35,789
mainly Depreciation (+€38,691) and Other debts (+€28,724)
- Reserves -€39,192
down €39,192 (-17.7%), from €221,486 to €182,295
- Other debts +€28,724
new in 2025: €28,724
- Debts after one year -€21,135
down €21,135 (-14.6%), from €145,071 to €123,936
- Current portion of long-term debt -€5,804
down €5,804 (-21.5%), from €26,939 to €21,135
- Gross operating margin -€15,522
down €15,522 (-25.3%), from €61,303 to €45,781
- Taxes -€4,833
down €4,833 (-73.2%), from €6,606 to €1,773
- Financial charges -€1,778
down €1,778 (-52.4%), from €3,395 to €1,617
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €421,798 | €387,093 | -€34,705 | -8.2% |
| Fixed assets | 21/28 | €237,368 | €203,892 | -€33,475 | -14.1% |
| Tangible fixed assets | 22/27 | €237,193 | €203,717 | -€33,475 | -14.1% |
| Land and buildings | 22 | €207,688 | €176,758 | -€30,931 | -14.9% |
| Plant, machinery and equipment | 23 | €10,551 | €11,257 | +€706 | +6.7% |
| Furniture and vehicles | 24 | €9,454 | €6,203 | -€3,251 | -34.4% |
| Other tangible fixed assets | 26 | €9,500 | €9,500 | = | 0.0% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €184,430 | €183,200 | -€1,230 | -0.7% |
| Amounts receivable after more than one year | 29 | €89,600 | €77,560 | -€12,040 | -13.4% |
| Other amounts receivable | 291 | €89,600 | €77,560 | -€12,040 | -13.4% |
| Amounts receivable within one year | 40/41 | €24,798 | €42,975 | +€18,176 | +73.3% |
| Trade receivables | 40 | €19,058 | €19,366 | +€309 | +1.6% |
| Other amounts receivable | 41 | €5,741 | €23,608 | +€17,868 | +311% |
| Current investments | 50/53 | €40,131 | €22,110 | -€18,021 | -44.9% |
| Cash at bank and in hand | 54/58 | €25,185 | €35,789 | +€10,604 | +42.1% |
| Deferred charges and accrued income | 490/1 | €4,716 | €4,767 | +€51 | +1.1% |
| Total equity and liabilities | 10/49 | €421,798 | €387,093 | -€34,705 | -8.2% |
| Equity | 10/15 | €233,886 | €194,695 | -€39,192 | -16.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €221,486 | €182,295 | -€39,192 | -17.7% |
| Distributable reserves | 133 | €221,486 | €182,295 | -€39,192 | -17.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €187,912 | €192,398 | +€4,486 | +2.4% |
| Amounts payable after more than one year | 17 | €145,071 | €123,936 | -€21,135 | -14.6% |
| Financial debts | 170/4 | €145,071 | €123,936 | -€21,135 | -14.6% |
| Amounts payable within one year | 42/48 | €42,841 | €65,862 | +€23,021 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | €26,939 | €21,135 | -€5,804 | -21.5% |
| Financial debts | 43 | €79 | €212 | +€133 | +168% |
| Credit institutions | 430/8 | €79 | €212 | +€133 | +168% |
| Trade debts | 44 | €5,803 | €6,761 | +€959 | +16.5% |
| Suppliers | 440/4 | €5,803 | €6,761 | +€959 | +16.5% |
| Taxes, remuneration and social security | 45 | €10,020 | €9,030 | -€990 | -9.9% |
| Taxes | 450/3 | €10,020 | €9,030 | -€990 | -9.9% |
| Other amounts payable | 47/48 | - | €28,724 | +€28,724 | |
| Accrued charges and deferred income | 492/3 | - | €2,600 | +€2,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,528 | €38,691 | +€164 | +0.4% |
| Other operating charges | 640/8 | €4,430 | €4,572 | +€142 | +3.2% |
| Gross operating margin | 9900 | €61,303 | €45,781 | -€15,522 | -25.3% |
| Operating profit (loss) | 9901 | €18,345 | €2,518 | -€15,827 | -86.3% |
| Financial income | 75/76B | €3,181 | €3,079 | -€102 | -3.2% |
| Recurring financial income | 75 | €3,181 | €3,079 | -€102 | -3.2% |
| Financial charges | 65/66B | €3,395 | €1,617 | -€1,778 | -52.4% |
| Recurring financial charges | 65 | €3,395 | €1,617 | -€1,778 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €18,130 | €3,979 | -€14,151 | -78.1% |
| Income taxes | 67/77 | €6,606 | €1,773 | -€4,833 | -73.2% |
| Profit (loss) for the period | 9904 | €11,524 | €2,206 | -€9,318 | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,524 | €2,206 | -€9,318 | -80.9% |
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 27 October 2026 via checked.be.