ELECTROLYSE: 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.
ELECTROLYSE
Largest movements
- Receivables within one year -€519,355
down €519,355 (-43.5%), from €1.2m to €675,687
of which Trade receivables: -€587,004
- Cash +€353,875
up €353,875 (+216.1%), from €163,717 to €517,592
mainly Receivables within one year (+€519,355) and Net result for the year (+€76,577)
- Stocks and contracts -€55,773
down €55,773 (-23.6%), from €236,000 to €180,227
of which Contracts in progress: -€50,283
- Trade debts -€139,556
down €139,556 (-39.6%), from €351,997 to €212,441
- Reserves -€23,423
down €23,423 (-2.5%), from €942,698 to €919,275
of which Distributable reserves: -€23,423
- Debts after one year -€21,046
down €21,046 (-54.7%), from €38,441 to €17,395
- Other debts -€20,000
down €20,000 (-16.7%), from €120,000 to €100,000
- Gross operating margin -€444,667
down €444,667 (-26.2%), from €1.7m to €1.3m
- Taxes -€122,199
down €122,199 (-82.4%), from €148,220 to €26,021
- Staff costs +€26,831
up €26,831 (+2.5%), from €1.1m to €1.1m
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 | €1,813,854 | €1,590,810 | -€223,044 | -12.3% |
| Fixed assets | 21/28 | €219,095 | €213,115 | -€5,980 | -2.7% |
| Tangible fixed assets | 22/27 | €187,855 | €181,875 | -€5,980 | -3.2% |
| Land and buildings | 22 | €52,442 | €58,957 | +€6,515 | +12.4% |
| Plant, machinery and equipment | 23 | €16,265 | €29,560 | +€13,294 | +81.7% |
| Furniture and vehicles | 24 | €57,465 | €47,704 | -€9,761 | -17.0% |
| Leasing and similar rights | 25 | €61,683 | €45,655 | -€16,028 | -26.0% |
| Financial fixed assets | 28 | €31,240 | €31,240 | = | 0.0% |
| Current assets | 29/58 | €1,594,760 | €1,377,695 | -€217,064 | -13.6% |
| Stocks and contracts in progress | 3 | €236,000 | €180,227 | -€55,773 | -23.6% |
| Stocks | 30/36 | €172,640 | €167,150 | -€5,490 | -3.2% |
| Contracts in progress | 37 | €63,360 | €13,077 | -€50,283 | -79.4% |
| Amounts receivable within one year | 40/41 | €1,195,042 | €675,687 | -€519,355 | -43.5% |
| Trade receivables | 40 | €1,131,897 | €544,893 | -€587,004 | -51.9% |
| Other amounts receivable | 41 | €63,145 | €130,794 | +€67,649 | +107.1% |
| Cash at bank and in hand | 54/58 | €163,717 | €517,592 | +€353,875 | +216.1% |
| Deferred charges and accrued income | 490/1 | - | €4,188 | +€4,188 | |
| Total equity and liabilities | 10/49 | €1,813,854 | €1,590,810 | -€223,044 | -12.3% |
| Equity | 10/15 | €998,474 | €975,051 | -€23,423 | -2.3% |
| Contributions | 10/11 | €55,776 | €55,776 | = | 0.0% |
| Reserves | 13 | €942,698 | €919,275 | -€23,423 | -2.5% |
| Tax-exempt reserves | 132 | €5,651 | €5,651 | = | 0.0% |
| Distributable reserves | 133 | €937,047 | €913,624 | -€23,423 | -2.5% |
| Amounts payable | 17/49 | €815,380 | €615,759 | -€199,621 | -24.5% |
| Amounts payable after more than one year | 17 | €38,441 | €17,395 | -€21,046 | -54.7% |
| Financial debts | 170/4 | €38,441 | €17,395 | -€21,046 | -54.7% |
| Amounts payable within one year | 42/48 | €776,939 | €598,365 | -€178,575 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €19,352 | €20,682 | +€1,330 | +6.9% |
| Financial debts | 43 | €122,607 | €106,100 | -€16,507 | -13.5% |
| Credit institutions | 430/8 | €122,607 | €106,100 | -€16,507 | -13.5% |
| Trade debts | 44 | €351,997 | €212,441 | -€139,556 | -39.6% |
| Suppliers | 440/4 | €351,997 | €212,441 | -€139,556 | -39.6% |
| Taxes, remuneration and social security | 45 | €162,983 | €159,141 | -€3,842 | -2.4% |
| Taxes | 450/3 | €22,215 | €3,877 | -€18,338 | -82.5% |
| Remuneration and social security | 454/9 | €140,769 | €155,265 | +€14,496 | +10.3% |
| Other amounts payable | 47/48 | €120,000 | €100,000 | -€20,000 | -16.7% |
| Remuneration, social security and pensions | 62 | €1,075,787 | €1,102,618 | +€26,831 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,696 | €42,570 | +€4,874 | +12.9% |
| Other operating charges | 640/8 | €8,345 | €7,045 | -€1,301 | -15.6% |
| Gross operating margin | 9900 | €1,699,588 | €1,254,921 | -€444,667 | -26.2% |
| Operating profit (loss) | 9901 | €577,760 | €102,689 | -€475,072 | -82.2% |
| Financial income | 75/76B | €12,785 | €15,473 | +€2,688 | +21.0% |
| Recurring financial income | 75 | €12,785 | €15,473 | +€2,688 | +21.0% |
| Financial charges | 65/66B | €30,560 | €15,564 | -€14,997 | -49.1% |
| Recurring financial charges | 65 | €30,560 | €15,564 | -€14,997 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €559,985 | €102,598 | -€457,387 | -81.7% |
| Income taxes | 67/77 | €148,220 | €26,021 | -€122,199 | -82.4% |
| Profit (loss) for the period | 9904 | €411,765 | €76,577 | -€335,188 | -81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €411,765 | €76,577 | -€335,188 | -81.4% |
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 3 October 2026 via checked.be.