elefanto: 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.
elefanto
Largest movements
- Current investments +€148,500
new in 2025: €148,500
- Cash +€65,552
up €65,552 (+202.1%), from €32,433 to €97,985
mainly Net result for the year (+€198,510) and Tax, wage and social debts (+€41,496)
- Tangible fixed assets -€26,602
down €26,602 (-21.0%), from €126,912 to €100,310
- Receivables within one year +€4,318
up €4,318 (+14.5%), from €29,766 to €34,084
of which Other amounts receivable: +€2,503
- Reserves +€196,844
up €196,844 (+189.6%), from €103,847 to €300,691
- Other debts -€46,888
down €46,888 (-96.6%), from €48,554 to €1,666
- Tax, wage and social debts +€41,496
up €41,496 (+111.7%), from €37,155 to €78,651
- Gross operating margin +€148,514
up €148,514 (+105.4%), from €140,938 to €289,452
- Taxes +€32,511
up €32,511 (+108.6%), from €29,938 to €62,449
- Depreciation +€21,258
up €21,258 (+397.8%), from €5,344 to €26,602
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 | €192,728 | €384,478 | +€191,750 | +99.5% |
| Fixed assets | 21/28 | €126,912 | €100,310 | -€26,602 | -21.0% |
| Tangible fixed assets | 22/27 | €126,912 | €100,310 | -€26,602 | -21.0% |
| Furniture and vehicles | 24 | €126,912 | €100,310 | -€26,602 | -21.0% |
| Current assets | 29/58 | €65,816 | €284,168 | +€218,352 | +331.8% |
| Amounts receivable within one year | 40/41 | €29,766 | €34,084 | +€4,318 | +14.5% |
| Trade receivables | 40 | €29,766 | €31,581 | +€1,815 | +6.1% |
| Other amounts receivable | 41 | €0 | €2,503 | +€2,503 | +1390722.2% |
| Current investments | 50/53 | - | €148,500 | +€148,500 | |
| Cash at bank and in hand | 54/58 | €32,433 | €97,985 | +€65,552 | +202.1% |
| Deferred charges and accrued income | 490/1 | €3,617 | €3,598 | -€18 | -0.5% |
| Total equity and liabilities | 10/49 | €192,728 | €384,478 | +€191,750 | +99.5% |
| Equity | 10/15 | €106,847 | €303,691 | +€196,844 | +184.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €103,847 | €300,691 | +€196,844 | +189.6% |
| Distributable reserves | 133 | €103,847 | €300,691 | +€196,844 | +189.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €85,882 | €80,788 | -€5,094 | -5.9% |
| Amounts payable within one year | 42/48 | €85,882 | €80,788 | -€5,094 | -5.9% |
| Trade debts | 44 | €172 | €470 | +€298 | +172.8% |
| Suppliers | 440/4 | €172 | €470 | +€298 | +172.8% |
| Taxes, remuneration and social security | 45 | €37,155 | €78,651 | +€41,496 | +111.7% |
| Taxes | 450/3 | €37,155 | €78,651 | +€41,496 | +111.7% |
| Other amounts payable | 47/48 | €48,554 | €1,666 | -€46,888 | -96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,344 | €26,602 | +€21,258 | +397.8% |
| Other operating charges | 640/8 | €105 | €350 | +€245 | +233.6% |
| Gross operating margin | 9900 | €140,938 | €289,452 | +€148,514 | +105.4% |
| Operating profit (loss) | 9901 | €135,489 | €262,500 | +€127,011 | +93.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €39 | €1,541 | +€1,502 | +3879.3% |
| Recurring financial charges | 65 | €39 | €1,541 | +€1,502 | +3879.3% |
| Profit (loss) for the period before taxes | 9903 | €135,450 | €260,959 | +€125,509 | +92.7% |
| Income taxes | 67/77 | €29,938 | €62,449 | +€32,511 | +108.6% |
| Profit (loss) for the period | 9904 | €105,513 | €198,510 | +€92,997 | +88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €105,513 | €198,510 | +€92,997 | +88.1% |
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.