ELEAS: 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.
ELEAS
Largest movements
- Cash +€165,213
up €165,213 (+338.9%), from €48,756 to €213,969
mainly Net result for the year (+€169,464) and Depreciation (+€40,537)
- Intangible fixed assets -€34,193
down €34,193 (-36.8%), from €92,824 to €58,631
- Tangible fixed assets -€5,925
down €5,925 (-28.0%), from €21,188 to €15,263
- Formation expenses -€4,539
no longer reported in 2025 (was €4,539)
- Deferred charges and accrued income -€4,038
down €4,038 (-52.2%), from €7,729 to €3,691
- Profit (loss) carried forward +€163,279
up €163,279 (+40.1%), from -€406,897 to -€243,618
- Other debts -€38,728
down €38,728 (-86.2%), from €44,913 to €6,185
- Trade debts -€11,868
no longer reported in 2025 (was €11,868)
- Tax, wage and social debts +€5,671
up €5,671 (+22.2%), from €25,601 to €31,272
of which Taxes: +€4,881
- Gross operating margin +€26,976
up €26,976 (+11.2%), from €240,702 to €267,678
- Financial income +€7,547
up €7,547 (+25156.7%), from €30 to €7,577
of which Non-recurring financial income: +€7,565
- Financial charges -€6,993
down €6,993 (-92.7%), from €7,541 to €548
- Staff costs +€6,866
up €6,866 (+12.4%), from €55,175 to €62,041
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 | €268,585 | €386,939 | +€118,354 | +44.1% |
| Formation expenses | 20 | €4,539 | - | -€4,539 | |
| Fixed assets | 21/28 | €115,962 | €75,844 | -€40,118 | -34.6% |
| Intangible fixed assets | 21 | €92,824 | €58,631 | -€34,193 | -36.8% |
| Tangible fixed assets | 22/27 | €21,188 | €15,263 | -€5,925 | -28.0% |
| Plant, machinery and equipment | 23 | €3,394 | €1,761 | -€1,633 | -48.1% |
| Furniture and vehicles | 24 | €3,082 | €612 | -€2,470 | -80.1% |
| Other tangible fixed assets | 26 | €14,712 | €12,890 | -€1,822 | -12.4% |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €148,084 | €311,095 | +€163,011 | +110.1% |
| Amounts receivable within one year | 40/41 | €91,599 | €93,435 | +€1,836 | +2.0% |
| Trade receivables | 40 | €91,388 | €90,660 | -€728 | -0.8% |
| Other amounts receivable | 41 | €211 | €2,775 | +€2,564 | +1215.2% |
| Cash at bank and in hand | 54/58 | €48,756 | €213,969 | +€165,213 | +338.9% |
| Deferred charges and accrued income | 490/1 | €7,729 | €3,691 | -€4,038 | -52.2% |
| Total equity and liabilities | 10/49 | €268,585 | €386,939 | +€118,354 | +44.1% |
| Equity | 10/15 | €186,203 | €349,482 | +€163,279 | +87.7% |
| Contributions | 10/11 | €593,100 | €593,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€406,897 | -€243,618 | +€163,279 | +40.1% |
| Amounts payable | 17/49 | €82,382 | €37,457 | -€44,925 | -54.5% |
| Amounts payable within one year | 42/48 | €82,382 | €37,457 | -€44,925 | -54.5% |
| Trade debts | 44 | €11,868 | - | -€11,868 | |
| Suppliers | 440/4 | €11,868 | - | -€11,868 | |
| Taxes, remuneration and social security | 45 | €25,601 | €31,272 | +€5,671 | +22.2% |
| Taxes | 450/3 | €18,908 | €23,789 | +€4,881 | +25.8% |
| Remuneration and social security | 454/9 | €6,693 | €7,483 | +€790 | +11.8% |
| Other amounts payable | 47/48 | €44,913 | €6,185 | -€38,728 | -86.2% |
| Remuneration, social security and pensions | 62 | €55,175 | €62,041 | +€6,866 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,731 | €40,537 | -€194 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,548 | +€1,548 | |
| Other operating charges | 640/8 | €827 | €1,117 | +€290 | +35.1% |
| Gross operating margin | 9900 | €240,702 | €267,678 | +€26,976 | +11.2% |
| Operating profit (loss) | 9901 | €143,969 | €162,435 | +€18,466 | +12.8% |
| Financial income | 75/76B | €30 | €7,577 | +€7,547 | +25156.7% |
| Recurring financial income | 75 | €30 | €12 | -€18 | -60.0% |
| Non-recurring financial income | 76B | - | €7,565 | +€7,565 | |
| Financial charges | 65/66B | €7,541 | €548 | -€6,993 | -92.7% |
| Recurring financial charges | 65 | €7,541 | €548 | -€6,993 | -92.7% |
| Profit (loss) for the period before taxes | 9903 | €136,458 | €169,464 | +€33,006 | +24.2% |
| Income taxes | 67/77 | €128 | - | -€128 | |
| Profit (loss) for the period | 9904 | €136,330 | €169,464 | +€33,134 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €136,330 | €169,464 | +€33,134 | +24.3% |
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 11 October 2026 via checked.be.