ELEC.S: what changed
ELEC.S
Largest movements
- Receivables within one year +€11,608
up €11,608 (+34.3%), from €33,851 to €45,459
of which Trade receivables: +€11,774
- Tangible fixed assets -€9,637
down €9,637 (-15.0%), from €64,245 to €54,607
of which Plant, machinery and equipment: -€6,273
- Cash -€7,168
down €7,168 (-42.2%), from €16,998 to €9,830
mainly Contributions, distributions and other (-€19,721) and Tax, wage and social debts (-€16,450)
- Other debts +€29,047
up €29,047 (+39.0%), from €74,466 to €103,513
- Tax, wage and social debts -€16,450
down €16,450 (-27.1%), from €60,781 to €44,331
of which Taxes: -€19,524
- Trade debts -€11,095
down €11,095 (-12.1%), from €91,775 to €80,679
- Advances received +€5,921
up €5,921 (+154%), from €3,853 to €9,774
- Debts after one year -€3,688
down €3,688 (-30.8%), from €11,984 to €8,297
- Gross operating margin +€53,954
up €53,954 (+40.3%), from €133,870 to €187,825
- Staff costs +€37,558
up €37,558 (+37.8%), from €99,330 to €136,887
- Taxes +€4,964
up €4,964 (+97.4%), from €5,097 to €10,061
- Other operating charges +€3,421
up €3,421 (+425%), from €805 to €4,225
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €362,155 | €358,561 | -€3,594 | -1.0% |
| Fixed assets | 21/28 | €64,536 | €54,899 | -€9,637 | -14.9% |
| Tangible fixed assets | 22/27 | €64,245 | €54,607 | -€9,637 | -15.0% |
| Plant, machinery and equipment | 23 | €47,073 | €40,800 | -€6,273 | -13.3% |
| Furniture and vehicles | 24 | €1,564 | €1,237 | -€327 | -20.9% |
| Other tangible fixed assets | 26 | €15,608 | €12,570 | -€3,038 | -19.5% |
| Financial fixed assets | 28 | €291 | €291 | = | 0.0% |
| Current assets | 29/58 | €297,619 | €303,662 | +€6,044 | +2.0% |
| Stocks and contracts in progress | 3 | €246,770 | €247,799 | +€1,030 | +0.4% |
| Stocks | 30/36 | €246,770 | €247,799 | +€1,030 | +0.4% |
| Amounts receivable within one year | 40/41 | €33,851 | €45,459 | +€11,608 | +34.3% |
| Trade receivables | 40 | €33,685 | €45,459 | +€11,774 | +35.0% |
| Other amounts receivable | 41 | €166 | - | -€166 | |
| Cash at bank and in hand | 54/58 | €16,998 | €9,830 | -€7,168 | -42.2% |
| Deferred charges and accrued income | 490/1 | - | €574 | +€574 | |
| Total equity and liabilities | 10/49 | €362,155 | €358,561 | -€3,594 | -1.0% |
| Equity | 10/15 | €102,848 | €100,374 | -€2,474 | -2.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €65,246 | €62,773 | -€2,474 | -3.8% |
| Distributable reserves | 133 | €65,246 | €62,773 | -€2,474 | -3.8% |
| Profit (loss) carried forward | 14 | €17,142 | €17,142 | = | 0.0% |
| Amounts payable | 17/49 | €259,307 | €258,187 | -€1,120 | -0.4% |
| Amounts payable after more than one year | 17 | €11,984 | €8,297 | -€3,688 | -30.8% |
| Financial debts | 170/4 | €11,984 | €8,297 | -€3,688 | -30.8% |
| Amounts payable within one year | 42/48 | €247,322 | €249,890 | +€2,567 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €7,829 | €4,645 | -€3,183 | -40.7% |
| Financial debts | 43 | €8,619 | €6,947 | -€1,672 | -19.4% |
| Credit institutions | 430/8 | €8,619 | €6,947 | -€1,672 | -19.4% |
| Trade debts | 44 | €91,775 | €80,679 | -€11,095 | -12.1% |
| Suppliers | 440/4 | €91,775 | €80,679 | -€11,095 | -12.1% |
| Advances received on contracts in progress | 46 | €3,853 | €9,774 | +€5,921 | +154% |
| Taxes, remuneration and social security | 45 | €60,781 | €44,331 | -€16,450 | -27.1% |
| Taxes | 450/3 | €34,398 | €14,874 | -€19,524 | -56.8% |
| Remuneration and social security | 454/9 | €26,383 | €29,457 | +€3,074 | +11.7% |
| Other amounts payable | 47/48 | €74,466 | €103,513 | +€29,047 | +39.0% |
| Remuneration, social security and pensions | 62 | €99,330 | €136,887 | +€37,558 | +37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,052 | €11,987 | -€64 | -0.5% |
| Other operating charges | 640/8 | €805 | €4,225 | +€3,421 | +425% |
| Gross operating margin | 9900 | €133,870 | €187,825 | +€53,954 | +40.3% |
| Operating profit (loss) | 9901 | €21,684 | €34,724 | +€13,040 | +60.1% |
| Financial income | 75/76B | €1,001 | €203 | -€798 | -79.7% |
| Recurring financial income | 75 | €1,001 | €203 | -€798 | -79.7% |
| Financial charges | 65/66B | €8,355 | €7,619 | -€737 | -8.8% |
| Recurring financial charges | 65 | €8,355 | €7,619 | -€737 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €14,330 | €27,308 | +€12,978 | +90.6% |
| Income taxes | 67/77 | €5,097 | €10,061 | +€4,964 | +97.4% |
| Profit (loss) for the period | 9904 | €9,233 | €17,248 | +€8,014 | +86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,233 | €17,248 | +€8,014 | +86.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.