ELECTRO M.D.: 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.
ELECTRO M.D.
Largest movements
- Cash -€36,358
down €36,358 (-74.1%), from €49,066 to €12,708
mainly Net result for the year (-€32,851) and Receivables within one year (-€3,857)
- Receivables within one year +€3,857
up €3,857 (+5.6%), from €69,331 to €73,187
of which Other amounts receivable: +€4,640
- Tangible fixed assets -€1,314
down €1,314 (-18.0%), from €7,288 to €5,974
of which Plant, machinery and equipment: -€929
- Profit (loss) carried forward -€32,851
down €32,851 (-34.4%), from €95,515 to €62,665
- Current portion of long-term debt +€3,365
new in 2025: €3,365
- Tax, wage and social debts -€2,494
down €2,494 (-17.0%), from €14,640 to €12,146
- Trade debts -€1,637
no longer reported in 2025 (was €1,637)
- Gross operating margin -€46,396
down €46,396, from €19,487 to -€26,910
- Taxes -€2,683
down €2,683 (-91.4%), from €2,936 to €253
- Depreciation -€673
down €673 (-13.7%), from €4,929 to €4,256
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 | €127,092 | €93,470 | -€33,622 | -26.5% |
| Fixed assets | 21/28 | €7,288 | €5,974 | -€1,314 | -18.0% |
| Tangible fixed assets | 22/27 | €7,288 | €5,974 | -€1,314 | -18.0% |
| Plant, machinery and equipment | 23 | €2,725 | €1,796 | -€929 | -34.1% |
| Furniture and vehicles | 24 | €4,563 | €4,178 | -€385 | -8.4% |
| Current assets | 29/58 | €119,804 | €87,496 | -€32,308 | -27.0% |
| Amounts receivable within one year | 40/41 | €69,331 | €73,187 | +€3,857 | +5.6% |
| Trade receivables | 40 | €43,141 | €42,358 | -€784 | -1.8% |
| Other amounts receivable | 41 | €26,189 | €30,829 | +€4,640 | +17.7% |
| Cash at bank and in hand | 54/58 | €49,066 | €12,708 | -€36,358 | -74.1% |
| Deferred charges and accrued income | 490/1 | €1,407 | €1,601 | +€194 | +13.7% |
| Total equity and liabilities | 10/49 | €127,092 | €93,470 | -€33,622 | -26.5% |
| Equity | 10/15 | €110,810 | €77,959 | -€32,851 | -29.6% |
| Contributions | 10/11 | €15,294 | €15,294 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,515 | €62,665 | -€32,851 | -34.4% |
| Amounts payable | 17/49 | €16,283 | €15,511 | -€771 | -4.7% |
| Amounts payable within one year | 42/48 | €16,283 | €15,511 | -€771 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | - | €3,365 | +€3,365 | |
| Trade debts | 44 | €1,637 | - | -€1,637 | |
| Suppliers | 440/4 | €1,637 | - | -€1,637 | |
| Taxes, remuneration and social security | 45 | €14,640 | €12,146 | -€2,494 | -17.0% |
| Taxes | 450/3 | €14,640 | €12,146 | -€2,494 | -17.0% |
| Other amounts payable | 47/48 | €5 | - | -€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,929 | €4,256 | -€673 | -13.7% |
| Other operating charges | 640/8 | €1,098 | €1,143 | +€45 | +4.1% |
| Gross operating margin | 9900 | €19,487 | -€26,910 | -€46,396 | |
| Operating profit (loss) | 9901 | €13,459 | -€32,309 | -€45,768 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +100.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100.0% |
| Financial charges | 65/66B | €535 | €289 | -€246 | -46.0% |
| Recurring financial charges | 65 | €535 | €289 | -€246 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €12,924 | -€32,598 | -€45,522 | |
| Income taxes | 67/77 | €2,936 | €253 | -€2,683 | -91.4% |
| Profit (loss) for the period | 9904 | €9,988 | -€32,851 | -€42,839 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,988 | -€32,851 | -€42,839 |
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 1 October 2026 via checked.be.