ELDEMU: 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.
ELDEMU
Largest movements
- Tangible fixed assets +€106,221
up €106,221 (+18.9%), from €561,538 to €667,759
of which Land and buildings: +€117,287
- Receivables within one year -€66,181
down €66,181 (-27.6%), from €239,998 to €173,817
of which Other amounts receivable: -€58,954
- Current investments -€30,725
down €30,725 (-12.1%), from €254,918 to €224,193
- Profit (loss) carried forward -€421,673
no longer reported in 2025 (was €421,673)
- Other debts +€277,896
up €277,896 (+21,437%), from €1,296 to €279,192
- Reserves +€173,431
up €173,431 (+39.7%), from €437,395 to €610,826
of which Distributable reserves: +€173,431
- Debts after one year -€38,267
down €38,267 (-9.9%), from €386,803 to €348,536
- Financial charges +€63,556
up €63,556 (+3,141%), from €2,024 to €65,580
- Financial income -€23,718
down €23,718 (-41.9%), from €56,615 to €32,897
- Taxes -€11,700
down €11,700 (-11.8%), from €99,266 to €87,566
- Depreciation +€8,156
up €8,156 (+19.8%), from €41,109 to €49,265
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 | €1,322,717 | €1,323,420 | +€703 | +0.1% |
| Fixed assets | 21/28 | €561,538 | €667,759 | +€106,221 | +18.9% |
| Tangible fixed assets | 22/27 | €561,538 | €667,759 | +€106,221 | +18.9% |
| Land and buildings | 22 | €474,541 | €591,828 | +€117,287 | +24.7% |
| Plant, machinery and equipment | 23 | €3,356 | €1,463 | -€1,893 | -56.4% |
| Furniture and vehicles | 24 | €83,640 | €74,469 | -€9,172 | -11.0% |
| Current assets | 29/58 | €761,180 | €655,661 | -€105,519 | -13.9% |
| Amounts receivable within one year | 40/41 | €239,998 | €173,817 | -€66,181 | -27.6% |
| Trade receivables | 40 | €173,323 | €166,096 | -€7,227 | -4.2% |
| Other amounts receivable | 41 | €66,675 | €7,721 | -€58,954 | -88.4% |
| Current investments | 50/53 | €254,918 | €224,193 | -€30,725 | -12.1% |
| Cash at bank and in hand | 54/58 | €260,763 | €254,205 | -€6,558 | -2.5% |
| Deferred charges and accrued income | 490/1 | €5,501 | €3,446 | -€2,055 | -37.4% |
| Total equity and liabilities | 10/49 | €1,322,717 | €1,323,420 | +€703 | +0.1% |
| Equity | 10/15 | €864,067 | €615,826 | -€248,241 | -28.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €437,395 | €610,826 | +€173,431 | +39.7% |
| Tax-exempt reserves | 132 | €1,574 | €1,574 | = | 0.0% |
| Distributable reserves | 133 | €435,821 | €609,252 | +€173,431 | +39.8% |
| Profit (loss) carried forward | 14 | €421,673 | - | -€421,673 | |
| Amounts payable | 17/49 | €458,650 | €707,594 | +€248,944 | +54.3% |
| Amounts payable after more than one year | 17 | €386,803 | €348,536 | -€38,267 | -9.9% |
| Financial debts | 170/4 | €386,803 | €348,536 | -€38,267 | -9.9% |
| Amounts payable within one year | 42/48 | €71,847 | €359,058 | +€287,211 | +400% |
| Current portion of amounts payable after more than one year | 42 | €37,197 | €38,267 | +€1,070 | +2.9% |
| Trade debts | 44 | €3,006 | €823 | -€2,182 | -72.6% |
| Suppliers | 440/4 | €3,006 | €823 | -€2,182 | -72.6% |
| Taxes, remuneration and social security | 45 | €30,348 | €40,776 | +€10,427 | +34.4% |
| Taxes | 450/3 | €30,348 | €40,776 | +€10,427 | +34.4% |
| Other amounts payable | 47/48 | €1,296 | €279,192 | +€277,896 | +21,437% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,109 | €49,265 | +€8,156 | +19.8% |
| Other operating charges | 640/8 | €535 | €840 | +€304 | +56.8% |
| Gross operating margin | 9900 | €346,869 | €343,785 | -€3,084 | -0.9% |
| Operating profit (loss) | 9901 | €305,224 | €293,680 | -€11,544 | -3.8% |
| Financial income | 75/76B | €56,615 | €32,897 | -€23,718 | -41.9% |
| Recurring financial income | 75 | €56,615 | €32,897 | -€23,718 | -41.9% |
| Financial charges | 65/66B | €2,024 | €65,580 | +€63,556 | +3,141% |
| Recurring financial charges | 65 | €2,024 | €65,580 | +€63,556 | +3,141% |
| Profit (loss) for the period before taxes | 9903 | €359,816 | €260,998 | -€98,818 | -27.5% |
| Income taxes | 67/77 | €99,266 | €87,566 | -€11,700 | -11.8% |
| Profit (loss) for the period | 9904 | €260,550 | €173,431 | -€87,118 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €260,550 | €173,431 | -€87,118 | -33.4% |
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 14 October 2026 via checked.be.