ELECT-SA: 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.
ELECT-SA
Largest movements
- Cash +€8,837
up €8,837 (+147.8%), from €5,979 to €14,816
mainly Receivables within one year (+€6,675) and Tax, wage and social debts (+€4,788)
- Receivables within one year -€6,675
down €6,675 (-29.1%), from €22,932 to €16,257
of which Other amounts receivable: -€5,573
- Deferred charges and accrued income +€2,064
up €2,064 (+2231.6%), from €92 to €2,156
- Tax, wage and social debts +€4,788
up €4,788 (+74.7%), from €6,408 to €11,196
of which Remuneration and social security: +€4,056
- Other debts -€3,958
down €3,958 (-56.3%), from €7,035 to €3,077
- Debts after one year +€2,904
new in 2025: €2,904
- Trade debts +€2,230
new in 2025: €2,230
- Current portion of long-term debt -€1,769
down €1,769 (-52.8%), from €3,349 to €1,579
- Staff costs +€46,447
up €46,447 (+772.0%), from €6,017 to €52,464
- Gross operating margin +€27,559
up €27,559 (+87.3%), from €31,553 to €59,112
- Taxes -€3,911
down €3,911 (-90.9%), from €4,301 to €391
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 | €33,947 | €38,049 | +€4,102 | +12.1% |
| Fixed assets | 21/28 | €4,944 | €4,820 | -€124 | -2.5% |
| Tangible fixed assets | 22/27 | €4,944 | €4,820 | -€124 | -2.5% |
| Plant, machinery and equipment | 23 | €3,115 | €3,240 | +€125 | +4.0% |
| Furniture and vehicles | 24 | €1,829 | €1,580 | -€249 | -13.6% |
| Current assets | 29/58 | €29,003 | €33,229 | +€4,226 | +14.6% |
| Amounts receivable within one year | 40/41 | €22,932 | €16,257 | -€6,675 | -29.1% |
| Trade receivables | 40 | €15,592 | €14,490 | -€1,102 | -7.1% |
| Other amounts receivable | 41 | €7,340 | €1,767 | -€5,573 | -75.9% |
| Cash at bank and in hand | 54/58 | €5,979 | €14,816 | +€8,837 | +147.8% |
| Deferred charges and accrued income | 490/1 | €92 | €2,156 | +€2,064 | +2231.6% |
| Total equity and liabilities | 10/49 | €33,947 | €38,049 | +€4,102 | +12.1% |
| Equity | 10/15 | €17,155 | €17,063 | -€93 | -0.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €16,155 | €16,063 | -€93 | -0.6% |
| Distributable reserves | 133 | €16,155 | €16,063 | -€93 | -0.6% |
| Amounts payable | 17/49 | €16,791 | €20,986 | +€4,195 | +25.0% |
| Amounts payable after more than one year | 17 | - | €2,904 | +€2,904 | |
| Financial debts | 170/4 | - | €2,904 | +€2,904 | |
| Amounts payable within one year | 42/48 | €16,791 | €18,082 | +€1,291 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €3,349 | €1,579 | -€1,769 | -52.8% |
| Trade debts | 44 | - | €2,230 | +€2,230 | |
| Suppliers | 440/4 | - | €2,230 | +€2,230 | |
| Taxes, remuneration and social security | 45 | €6,408 | €11,196 | +€4,788 | +74.7% |
| Taxes | 450/3 | €4,301 | €5,033 | +€732 | +17.0% |
| Remuneration and social security | 454/9 | €2,107 | €6,162 | +€4,056 | +192.5% |
| Other amounts payable | 47/48 | €7,035 | €3,077 | -€3,958 | -56.3% |
| Remuneration, social security and pensions | 62 | €6,017 | €52,464 | +€46,447 | +772.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,383 | €2,749 | +€366 | +15.4% |
| Other operating charges | 640/8 | €221 | €726 | +€505 | +228.4% |
| Gross operating margin | 9900 | €31,553 | €59,112 | +€27,559 | +87.3% |
| Operating profit (loss) | 9901 | €22,931 | €3,172 | -€19,759 | -86.2% |
| Financial income | 75/76B | €222 | €22 | -€200 | -90.0% |
| Recurring financial income | 75 | €222 | €22 | -€200 | -90.0% |
| Financial charges | 65/66B | €2,697 | €2,896 | +€200 | +7.4% |
| Recurring financial charges | 65 | €2,697 | €2,896 | +€200 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €20,457 | €298 | -€20,159 | -98.5% |
| Income taxes | 67/77 | €4,301 | €391 | -€3,911 | -90.9% |
| Profit (loss) for the period | 9904 | €16,155 | -€93 | -€16,248 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,155 | -€93 | -€16,248 |
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 4 October 2026 via checked.be.