ELEA: 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.
ELEA
Largest movements
- Receivables within one year -€277,101
down €277,101 (-85.8%), from €322,994 to €45,892
of which Other amounts receivable: -€274,255
- Tangible fixed assets -€254,978
down €254,978 (-12.8%), from €2.0m to €1.7m
- Cash +€92,226
up €92,226, from €0 to €92,226
mainly Receivables within one year (+€277,101) and Investment in fixed assets (net) (+€178,900)
- Short-term financial debts -€159,154
down €159,154 (-100.0%), from €159,154 to €0
- Debts after one year -€149,327
down €149,327 (-100.0%), from €149,327 to €0
- Trade debts -€96,207
down €96,207 (-56.0%), from €171,703 to €75,496
- Current portion of long-term debt -€48,825
down €48,825 (-100.0%), from €48,825 to €0
- Reserves +€29,550
up €29,550 (+2.3%), from €1.3m to €1.3m
of which Distributable reserves: +€93,791
- Gross operating margin +€517,129
up €517,129, from -€90,330 to €426,800
- Financial charges +€271,887
up €271,887 (+1267.8%), from €21,446 to €293,332
- Taxes +€36,100
up €36,100, from €0 to €36,100
- Depreciation -€23,347
down €23,347 (-23.5%), from €99,425 to €76,078
- Other operating charges -€7,138
down €7,138 (-25.1%), from €28,423 to €21,285
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 | €2,563,715 | €2,129,519 | -€434,196 | -16.9% |
| Fixed assets | 21/28 | €1,989,798 | €1,734,819 | -€254,978 | -12.8% |
| Tangible fixed assets | 22/27 | €1,989,798 | €1,734,819 | -€254,978 | -12.8% |
| Land and buildings | 22 | €1,989,798 | €1,734,819 | -€254,978 | -12.8% |
| Current assets | 29/58 | €573,917 | €394,700 | -€179,218 | -31.2% |
| Amounts receivable after more than one year | 29 | €249,193 | €256,320 | +€7,127 | +2.9% |
| Other amounts receivable | 291 | €249,193 | €256,320 | +€7,127 | +2.9% |
| Amounts receivable within one year | 40/41 | €322,994 | €45,892 | -€277,101 | -85.8% |
| Trade receivables | 40 | €2,847 | €0 | -€2,847 | -100.0% |
| Other amounts receivable | 41 | €320,147 | €45,892 | -€274,255 | -85.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €0 | €92,226 | +€92,226 | |
| Deferred charges and accrued income | 490/1 | €1,730 | €261 | -€1,469 | -84.9% |
| Total equity and liabilities | 10/49 | €2,563,715 | €2,129,519 | -€434,196 | -16.9% |
| Equity | 10/15 | €1,524,351 | €1,553,901 | +€29,550 | +1.9% |
| Contributions | 10/11 | €259,946 | €259,946 | = | 0.0% |
| Reserves | 13 | €1,264,405 | €1,293,955 | +€29,550 | +2.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,103,573 | €1,039,332 | -€64,241 | -5.8% |
| Distributable reserves | 133 | €160,832 | €254,622 | +€93,791 | +58.3% |
| Provisions and deferred taxes | 16 | €367,858 | €346,444 | -€21,414 | -5.8% |
| Deferred taxes | 168 | €367,858 | €346,444 | -€21,414 | -5.8% |
| Amounts payable | 17/49 | €671,507 | €229,174 | -€442,333 | -65.9% |
| Amounts payable after more than one year | 17 | €149,327 | €0 | -€149,327 | -100.0% |
| Financial debts | 170/4 | €149,327 | €0 | -€149,327 | -100.0% |
| Amounts payable within one year | 42/48 | €516,454 | €229,174 | -€287,280 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €48,825 | €0 | -€48,825 | -100.0% |
| Financial debts | 43 | €159,154 | €0 | -€159,154 | -100.0% |
| Credit institutions | 430/8 | €159,154 | €0 | -€159,154 | -100.0% |
| Trade debts | 44 | €171,703 | €75,496 | -€96,207 | -56.0% |
| Suppliers | 440/4 | €171,703 | €75,496 | -€96,207 | -56.0% |
| Taxes, remuneration and social security | 45 | €17,722 | €36,100 | +€18,378 | +103.7% |
| Taxes | 450/3 | €17,722 | €36,100 | +€18,378 | +103.7% |
| Other amounts payable | 47/48 | €119,051 | €117,578 | -€1,473 | -1.2% |
| Accrued charges and deferred income | 492/3 | €5,725 | €0 | -€5,725 | -100.0% |
| Non-recurring operating income | 76A | €0 | €571,100 | +€571,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,425 | €76,078 | -€23,347 | -23.5% |
| Other operating charges | 640/8 | €28,423 | €21,285 | -€7,138 | -25.1% |
| Gross operating margin | 9900 | -€90,330 | €426,800 | +€517,129 | |
| Operating profit (loss) | 9901 | -€218,178 | €329,437 | +€547,614 | |
| Financial income | 75/76B | €6,558 | €8,132 | +€1,575 | +24.0% |
| Recurring financial income | 75 | €6,558 | €8,132 | +€1,575 | +24.0% |
| Financial charges | 65/66B | €21,446 | €293,332 | +€271,887 | +1267.8% |
| Recurring financial charges | 65 | €21,446 | €293,332 | +€271,887 | +1267.8% |
| Profit (loss) for the period before taxes | 9903 | -€233,066 | €44,237 | +€277,302 | |
| Transfer from deferred taxes | 780 | €12,950 | €21,414 | +€8,463 | +65.4% |
| Income taxes | 67/77 | €0 | €36,100 | +€36,100 | |
| Profit (loss) for the period | 9904 | -€220,115 | €29,550 | +€249,665 | |
| Transfer from tax-exempt reserves | 789 | €38,851 | €64,241 | +€25,390 | +65.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€181,264 | €93,791 | +€275,055 |
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.