ELECSAN: 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.
ELECSAN
Largest movements
- Receivables within one year +€40,632
up €40,632 (+58.1%), from €69,975 to €110,606
of which Trade receivables: +€39,116
- Tangible fixed assets -€14,371
down €14,371 (-30.9%), from €46,526 to €32,155
of which Furniture and vehicles: -€12,909
- Receivables after one year -€14,274
down €14,274 (-74.6%), from €19,145 to €4,871
- Profit (loss) carried forward +€18,268
up €18,268 (+20.7%), from €88,273 to €106,542
- Debts after one year -€9,582
down €9,582 (-31.6%), from €30,302 to €20,720
- Trade debts +€6,303
up €6,303 (+484.6%), from €1,301 to €7,603
- Tax, wage and social debts -€5,741
down €5,741 (-14.9%), from €38,512 to €32,771
of which Remuneration and social security: -€12,281
- Staff costs +€132,740
up €132,740 (+98.9%), from €134,197 to €266,937
- Gross operating margin +€76,288
up €76,288 (+31.7%), from €240,596 to €316,884
- Depreciation +€14,500
up €14,500 (+541.2%), from €2,679 to €17,179
- Taxes -€12,308
down €12,308 (-58.0%), from €21,208 to €8,900
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 | €169,486 | €181,018 | +€11,532 | +6.8% |
| Fixed assets | 21/28 | €46,526 | €32,155 | -€14,371 | -30.9% |
| Tangible fixed assets | 22/27 | €46,526 | €32,155 | -€14,371 | -30.9% |
| Plant, machinery and equipment | 23 | €6,253 | €4,791 | -€1,462 | -23.4% |
| Furniture and vehicles | 24 | €40,274 | €27,364 | -€12,909 | -32.1% |
| Current assets | 29/58 | €122,960 | €148,863 | +€25,903 | +21.1% |
| Amounts receivable after more than one year | 29 | €19,145 | €4,871 | -€14,274 | -74.6% |
| Other amounts receivable | 291 | €19,145 | €4,871 | -€14,274 | -74.6% |
| Amounts receivable within one year | 40/41 | €69,975 | €110,606 | +€40,632 | +58.1% |
| Trade receivables | 40 | €68,021 | €107,137 | +€39,116 | +57.5% |
| Other amounts receivable | 41 | €1,954 | €3,470 | +€1,516 | +77.6% |
| Cash at bank and in hand | 54/58 | €33,840 | €33,237 | -€603 | -1.8% |
| Deferred charges and accrued income | 490/1 | - | €149 | +€149 | |
| Total equity and liabilities | 10/49 | €169,486 | €181,018 | +€11,532 | +6.8% |
| Equity | 10/15 | €90,273 | €108,542 | +€18,268 | +20.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,273 | €106,542 | +€18,268 | +20.7% |
| Amounts payable | 17/49 | €79,213 | €72,476 | -€6,737 | -8.5% |
| Amounts payable after more than one year | 17 | €30,302 | €20,720 | -€9,582 | -31.6% |
| Financial debts | 170/4 | €30,302 | €20,720 | -€9,582 | -31.6% |
| Amounts payable within one year | 42/48 | €48,911 | €51,756 | +€2,845 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €9,098 | €9,582 | +€484 | +5.3% |
| Trade debts | 44 | €1,301 | €7,603 | +€6,303 | +484.6% |
| Suppliers | 440/4 | €1,301 | €7,603 | +€6,303 | +484.6% |
| Taxes, remuneration and social security | 45 | €38,512 | €32,771 | -€5,741 | -14.9% |
| Taxes | 450/3 | €23,568 | €30,108 | +€6,540 | +27.7% |
| Remuneration and social security | 454/9 | €14,944 | €2,663 | -€12,281 | -82.2% |
| Other amounts payable | 47/48 | - | €1,800 | +€1,800 | |
| Remuneration, social security and pensions | 62 | €134,197 | €266,937 | +€132,740 | +98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,679 | €17,179 | +€14,500 | +541.2% |
| Other operating charges | 640/8 | €232 | €3,234 | +€3,002 | +1292.1% |
| Gross operating margin | 9900 | €240,596 | €316,884 | +€76,288 | +31.7% |
| Operating profit (loss) | 9901 | €103,488 | €29,533 | -€73,954 | -71.5% |
| Financial income | 75/76B | €382 | €479 | +€97 | +25.4% |
| Recurring financial income | 75 | €382 | €479 | +€97 | +25.4% |
| Financial charges | 65/66B | €751 | €2,844 | +€2,093 | +278.7% |
| Recurring financial charges | 65 | €751 | €2,844 | +€2,093 | +278.7% |
| Profit (loss) for the period before taxes | 9903 | €103,118 | €27,168 | -€75,950 | -73.7% |
| Income taxes | 67/77 | €21,208 | €8,900 | -€12,308 | -58.0% |
| Profit (loss) for the period | 9904 | €81,911 | €18,268 | -€63,642 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,911 | €18,268 | -€63,642 | -77.7% |
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.