Eldex Projects: 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.
Eldex Projects
Largest movements
- Tangible fixed assets +€18,279
new in 2025: €18,279
- Receivables within one year +€3,403
up €3,403 (+26.3%), from €12,946 to €16,349
of which Other amounts receivable: +€10,868
- Cash -€2,765
down €2,765 (-71.9%), from €3,846 to €1,081
mainly Investment in fixed assets (net) (-€22,328) and Net result for the year (-€5,736)
- Stocks and contracts +€1,701
new in 2025: €1,701
- Formation expenses -€508
down €508 (-100.0%), from €508 to €0
- Debts after one year +€11,284
new in 2025: €11,284
- Trade debts +€9,554
up €9,554 (+93.9%), from €10,179 to €19,733
- Profit (loss) carried forward -€5,736
new in 2025: -€5,736
- Current portion of long-term debt +€4,988
new in 2025: €4,988
- Other debts -€709
down €709 (-100.0%), from €709 to €0
- Gross operating margin -€6,124
down €6,124 (-94.2%), from €6,502 to €379
- Depreciation +€3,050
up €3,050 (+202.2%), from €1,508 to €4,558
- Financial charges +€1,413
up €1,413 (+2496.2%), from €57 to €1,469
- Taxes -€1,167
down €1,167 (-79.0%), from €1,478 to €311
- Financial income +€349
up €349 (+10093.1%), from €3 to €353
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 | €18,113 | €37,807 | +€19,693 | +108.7% |
| Formation expenses | 20 | €508 | €0 | -€508 | -100.0% |
| Fixed assets | 21/28 | - | €18,279 | +€18,279 | |
| Tangible fixed assets | 22/27 | - | €18,279 | +€18,279 | |
| Furniture and vehicles | 24 | - | €18,279 | +€18,279 | |
| Current assets | 29/58 | €17,605 | €19,528 | +€1,923 | +10.9% |
| Stocks and contracts in progress | 3 | - | €1,701 | +€1,701 | |
| Stocks | 30/36 | - | €1,701 | +€1,701 | |
| Amounts receivable within one year | 40/41 | €12,946 | €16,349 | +€3,403 | +26.3% |
| Trade receivables | 40 | €9,122 | €1,657 | -€7,465 | -81.8% |
| Other amounts receivable | 41 | €3,824 | €14,692 | +€10,868 | +284.2% |
| Cash at bank and in hand | 54/58 | €3,846 | €1,081 | -€2,765 | -71.9% |
| Deferred charges and accrued income | 490/1 | €813 | €397 | -€416 | -51.2% |
| Total equity and liabilities | 10/49 | €18,113 | €37,807 | +€19,693 | +108.7% |
| Equity | 10/15 | €5,748 | €12 | -€5,736 | -99.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €3,248 | €3,248 | = | 0.0% |
| Distributable reserves | 133 | €3,248 | €3,248 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,736 | -€5,736 | |
| Amounts payable | 17/49 | €12,366 | €37,795 | +€25,429 | +205.6% |
| Amounts payable after more than one year | 17 | - | €11,284 | +€11,284 | |
| Financial debts | 170/4 | - | €11,284 | +€11,284 | |
| Amounts payable within one year | 42/48 | €12,366 | €26,510 | +€14,145 | +114.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,988 | +€4,988 | |
| Trade debts | 44 | €10,179 | €19,733 | +€9,554 | +93.9% |
| Suppliers | 440/4 | €10,179 | €19,733 | +€9,554 | +93.9% |
| Taxes, remuneration and social security | 45 | €1,478 | €1,789 | +€311 | +21.0% |
| Taxes | 450/3 | €1,478 | €1,789 | +€311 | +21.0% |
| Other amounts payable | 47/48 | €709 | €0 | -€709 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,508 | €4,558 | +€3,050 | +202.2% |
| Other operating charges | 640/8 | €215 | €129 | -€86 | -39.9% |
| Gross operating margin | 9900 | €6,502 | €379 | -€6,124 | -94.2% |
| Operating profit (loss) | 9901 | €4,779 | -€4,309 | -€9,088 | |
| Financial income | 75/76B | €3 | €353 | +€349 | +10093.1% |
| Recurring financial income | 75 | €3 | €353 | +€349 | +10093.1% |
| Financial charges | 65/66B | €57 | €1,469 | +€1,413 | +2496.2% |
| Recurring financial charges | 65 | €57 | €1,469 | +€1,413 | +2496.2% |
| Profit (loss) for the period before taxes | 9903 | €4,726 | -€5,425 | -€10,151 | |
| Income taxes | 67/77 | €1,478 | €311 | -€1,167 | -79.0% |
| Profit (loss) for the period | 9904 | €3,248 | -€5,736 | -€8,983 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,248 | -€5,736 | -€8,983 |
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.