ELECTROGEL: 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.
ELECTROGEL
Largest movements
- Receivables within one year +€406,523
up €406,523 (+227.6%), from €178,583 to €585,106
of which Trade receivables: +€230,257
- Cash -€225,214
down €225,214 (-67.3%), from €334,611 to €109,397
mainly Receivables within one year (-€406,523) and Investment in fixed assets (net) (-€196,413)
- Tangible fixed assets +€171,185
up €171,185 (+3168.5%), from €5,403 to €176,587
of which Land and buildings: +€144,766
- Stocks and contracts +€77,747
up €77,747 (+525.8%), from €14,787 to €92,534
- Debts after one year +€260,084
new in 2025: €260,084
- Other debts +€104,838
new in 2025: €104,838
- Trade debts +€99,575
up €99,575 (+99.6%), from €99,984 to €199,559
- Profit (loss) carried forward -€95,262
no longer reported in 2025 (was €95,262)
- Reserves +€50,062
up €50,062 (+21.2%), from €236,426 to €286,488
- Depreciation +€11,461
up €11,461 (+246.8%), from €4,645 to €16,106
- Financial charges +€11,178
up €11,178 (+255.8%), from €4,371 to €15,549
- Gross operating margin +€7,371
up €7,371 (+4.6%), from €161,405 to €168,776
- Other operating charges -€3,618
down €3,618 (-58.7%), from €6,161 to €2,543
- Financial income +€3,067
up €3,067 (+46.4%), from €6,612 to €9,679
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 | €545,078 | €981,741 | +€436,663 | +80.1% |
| Fixed assets | 21/28 | €11,608 | €191,915 | +€180,307 | +1553.3% |
| Intangible fixed assets | 21 | €0 | €9,122 | +€9,122 | |
| Tangible fixed assets | 22/27 | €5,403 | €176,587 | +€171,185 | +3168.5% |
| Land and buildings | 22 | €1,318 | €146,084 | +€144,766 | +10981.6% |
| Plant, machinery and equipment | 23 | €2,176 | €2,386 | +€211 | +9.7% |
| Furniture and vehicles | 24 | €1,909 | €28,116 | +€26,208 | +1372.9% |
| Financial fixed assets | 28 | €6,205 | €6,205 | = | 0.0% |
| Current assets | 29/58 | €533,470 | €789,827 | +€256,356 | +48.1% |
| Stocks and contracts in progress | 3 | €14,787 | €92,534 | +€77,747 | +525.8% |
| Stocks | 30/36 | €14,787 | €92,534 | +€77,747 | +525.8% |
| Amounts receivable within one year | 40/41 | €178,583 | €585,106 | +€406,523 | +227.6% |
| Trade receivables | 40 | €149,502 | €379,759 | +€230,257 | +154.0% |
| Other amounts receivable | 41 | €29,081 | €205,347 | +€176,266 | +606.1% |
| Cash at bank and in hand | 54/58 | €334,611 | €109,397 | -€225,214 | -67.3% |
| Deferred charges and accrued income | 490/1 | €5,490 | €2,790 | -€2,700 | -49.2% |
| Total equity and liabilities | 10/49 | €545,078 | €981,741 | +€436,663 | +80.1% |
| Equity | 10/15 | €399,888 | €354,688 | -€45,200 | -11.3% |
| Contributions | 10/11 | €68,200 | €68,200 | = | 0.0% |
| Reserves | 13 | €236,426 | €286,488 | +€50,062 | +21.2% |
| Distributable reserves | 133 | €236,426 | €286,488 | +€50,062 | +21.2% |
| Profit (loss) carried forward | 14 | €95,262 | - | -€95,262 | |
| Provisions and deferred taxes | 16 | €9,609 | €19,886 | +€10,278 | +107.0% |
| Provisions for liabilities and charges | 160/5 | €9,609 | €19,886 | +€10,278 | +107.0% |
| Other liabilities and charges | 164/5 | €9,609 | €19,886 | +€10,278 | +107.0% |
| Amounts payable | 17/49 | €135,581 | €607,167 | +€471,586 | +347.8% |
| Amounts payable after more than one year | 17 | - | €260,084 | +€260,084 | |
| Financial debts | 170/4 | - | €260,084 | +€260,084 | |
| Amounts payable within one year | 42/48 | €135,581 | €347,083 | +€211,502 | +156.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,083 | +€11,083 | |
| Trade debts | 44 | €99,984 | €199,559 | +€99,575 | +99.6% |
| Suppliers | 440/4 | €99,984 | €199,559 | +€99,575 | +99.6% |
| Taxes, remuneration and social security | 45 | €35,597 | €31,604 | -€3,993 | -11.2% |
| Taxes | 450/3 | €35,597 | €31,604 | -€3,993 | -11.2% |
| Other amounts payable | 47/48 | - | €104,838 | +€104,838 | |
| Remuneration, social security and pensions | 62 | €2,531 | -€146 | -€2,676 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,645 | €16,106 | +€11,461 | +246.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €9,609 | €10,278 | +€669 | +7.0% |
| Other operating charges | 640/8 | €6,161 | €2,543 | -€3,618 | -58.7% |
| Gross operating margin | 9900 | €161,405 | €168,776 | +€7,371 | +4.6% |
| Operating profit (loss) | 9901 | €138,460 | €139,995 | +€1,535 | +1.1% |
| Financial income | 75/76B | €6,612 | €9,679 | +€3,067 | +46.4% |
| Recurring financial income | 75 | €6,612 | €9,679 | +€3,067 | +46.4% |
| Financial charges | 65/66B | €4,371 | €15,549 | +€11,178 | +255.8% |
| Recurring financial charges | 65 | €4,371 | €15,549 | +€11,178 | +255.8% |
| Profit (loss) for the period before taxes | 9903 | €140,702 | €134,125 | -€6,577 | -4.7% |
| Income taxes | 67/77 | €44,438 | €43,901 | -€537 | -1.2% |
| Profit (loss) for the period | 9904 | €96,264 | €90,225 | -€6,039 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €96,264 | €90,225 | -€6,039 | -6.3% |
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 2 October 2026 via checked.be.