ELEC: 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.
ELEC
Largest movements
- Stocks and contracts -€143,005
no longer reported in 2025 (was €143,005)
- Current investments +€117,760
up €117,760 (+32.6%), from €361,158 to €478,918
- Receivables within one year +€87,844
up €87,844 (+113%), from €77,830 to €165,674
of which Trade receivables: +€88,857
- Cash +€53,396
up €53,396 (+131%), from €40,642 to €94,038
mainly Stocks and contracts (+€143,005) and Net result for the year (+€89,803)
- Tangible fixed assets -€13,762
down €13,762 (-43.6%), from €31,560 to €17,798
of which Plant, machinery and equipment: -€13,762
- Reserves +€89,803
up €89,803 (+15.3%), from €586,426 to €676,229
- Tax, wage and social debts +€20,982
up €20,982 (+157%), from €13,362 to €34,344
of which Taxes: +€17,023
- Financial income +€33,211
up €33,211 (+1,267%), from €2,621 to €35,832
- Gross operating margin +€26,317
up €26,317 (+19.0%), from €138,548 to €164,865
- Financial charges +€22,815
up €22,815, from -€8,355 to €14,460
- Taxes +€15,140
up €15,140 (+70.3%), from €21,546 to €36,687
- Write-downs -€10,775
down €10,775, from €6,661 to -€4,114
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 | €654,196 | €756,428 | +€102,232 | +15.6% |
| Fixed assets | 21/28 | €31,560 | €17,798 | -€13,762 | -43.6% |
| Tangible fixed assets | 22/27 | €31,560 | €17,798 | -€13,762 | -43.6% |
| Land and buildings | 22 | €17,798 | €17,798 | = | 0.0% |
| Plant, machinery and equipment | 23 | €13,762 | - | -€13,762 | |
| Current assets | 29/58 | €622,636 | €738,630 | +€115,995 | +18.6% |
| Stocks and contracts in progress | 3 | €143,005 | - | -€143,005 | |
| Stocks | 30/36 | €143,005 | - | -€143,005 | |
| Amounts receivable within one year | 40/41 | €77,830 | €165,674 | +€87,844 | +113% |
| Trade receivables | 40 | €76,817 | €165,674 | +€88,857 | +116% |
| Other amounts receivable | 41 | €1,013 | - | -€1,013 | |
| Current investments | 50/53 | €361,158 | €478,918 | +€117,760 | +32.6% |
| Cash at bank and in hand | 54/58 | €40,642 | €94,038 | +€53,396 | +131% |
| Total equity and liabilities | 10/49 | €654,196 | €756,428 | +€102,232 | +15.6% |
| Equity | 10/15 | €614,198 | €704,001 | +€89,803 | +14.6% |
| Contributions | 10/11 | €27,772 | €27,772 | = | 0.0% |
| Reserves | 13 | €586,426 | €676,229 | +€89,803 | +15.3% |
| Distributable reserves | 133 | €586,426 | €676,229 | +€89,803 | +15.3% |
| Amounts payable | 17/49 | €39,998 | €52,427 | +€12,429 | +31.1% |
| Amounts payable within one year | 42/48 | €39,998 | €52,427 | +€12,429 | +31.1% |
| Trade debts | 44 | €22,805 | €18,083 | -€4,722 | -20.7% |
| Suppliers | 440/4 | €22,805 | €18,083 | -€4,722 | -20.7% |
| Taxes, remuneration and social security | 45 | €13,362 | €34,344 | +€20,982 | +157% |
| Taxes | 450/3 | €8,408 | €25,431 | +€17,023 | +202% |
| Remuneration and social security | 454/9 | €4,954 | €8,913 | +€3,959 | +79.9% |
| Other amounts payable | 47/48 | €3,831 | - | -€3,831 | |
| Non-recurring operating income | 76A | - | €19,140 | +€19,140 | |
| Remuneration, social security and pensions | 62 | €41,163 | €51,841 | +€10,677 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,275 | €2,902 | +€627 | +27.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,661 | -€4,114 | -€10,775 | |
| Other operating charges | 640/8 | €4,392 | €9,118 | +€4,727 | +108% |
| Non-recurring operating charges | 66A | €1,260 | - | -€1,260 | |
| Gross operating margin | 9900 | €138,548 | €164,865 | +€26,317 | +19.0% |
| Operating profit (loss) | 9901 | €82,797 | €105,118 | +€22,321 | +27.0% |
| Financial income | 75/76B | €2,621 | €35,832 | +€33,211 | +1,267% |
| Recurring financial income | 75 | €2,621 | €35,832 | +€33,211 | +1,267% |
| Financial charges | 65/66B | -€8,355 | €14,460 | +€22,815 | |
| Recurring financial charges | 65 | -€8,355 | €14,460 | +€22,815 | |
| Profit (loss) for the period before taxes | 9903 | €93,773 | €126,490 | +€32,717 | +34.9% |
| Income taxes | 67/77 | €21,546 | €36,687 | +€15,140 | +70.3% |
| Profit (loss) for the period | 9904 | €72,227 | €89,803 | +€17,577 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €72,227 | €89,803 | +€17,577 | +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 15 October 2026 via checked.be.