ELEFIN: what changed
Two financial 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.
ELEFIN
Largest movements
- Cash +€156,290
up €156,290 (+1099.2%), from €14,219 to €170,509
mainly Investment in fixed assets (net) (+€85,800) and Net result for the year (+€52,932)
- Tangible fixed assets -€85,800
no longer reported in 2025 (was €85,800)
- Receivables within one year -€7,587
down €7,587 (-99.3%), from €7,642 to €55
of which Other amounts receivable: -€7,602
- Reserves +€52,932
up €52,932 (+59.2%), from €89,431 to €142,363
of which Distributable reserves: +€52,932
- Tax, wage and social debts +€21,056
up €21,056 (+6116.1%), from €344 to €21,400
- Other debts -€11,609
no longer reported in 2025 (was €11,609)
- Gross operating margin +€51,763
up €51,763 (+167.4%), from €30,918 to €82,682
- Taxes +€22,465
up €22,465 (+343.8%), from €6,535 to €29,000
- Depreciation -€10,400
no longer reported in 2025 (was €10,400)
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 | €107,661 | €170,564 | +€62,904 | +58.4% |
| Fixed assets | 21/28 | €85,800 | - | -€85,800 | |
| Tangible fixed assets | 22/27 | €85,800 | - | -€85,800 | |
| Land and buildings | 22 | €85,800 | - | -€85,800 | |
| Current assets | 29/58 | €21,861 | €170,564 | +€148,704 | +680.2% |
| Amounts receivable within one year | 40/41 | €7,642 | €55 | -€7,587 | -99.3% |
| Trade receivables | 40 | - | €15 | +€15 | |
| Other amounts receivable | 41 | €7,642 | €40 | -€7,602 | -99.5% |
| Cash at bank and in hand | 54/58 | €14,219 | €170,509 | +€156,290 | +1099.2% |
| Total equity and liabilities | 10/49 | €107,661 | €170,564 | +€62,904 | +58.4% |
| Equity | 10/15 | €95,631 | €148,563 | +€52,932 | +55.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,431 | €142,363 | +€52,932 | +59.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €87,571 | €140,503 | +€52,932 | +60.4% |
| Amounts payable | 17/49 | €12,029 | €22,001 | +€9,972 | +82.9% |
| Amounts payable within one year | 42/48 | €12,029 | €22,001 | +€9,972 | +82.9% |
| Trade debts | 44 | €76 | €601 | +€525 | +692.6% |
| Suppliers | 440/4 | €76 | €601 | +€525 | +692.6% |
| Taxes, remuneration and social security | 45 | €344 | €21,400 | +€21,056 | +6116.1% |
| Taxes | 450/3 | €344 | €21,400 | +€21,056 | +6116.1% |
| Other amounts payable | 47/48 | €11,609 | - | -€11,609 | |
| Non-recurring operating income | 76A | - | €65,479 | +€65,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,400 | - | -€10,400 | |
| Other operating charges | 640/8 | €806 | €751 | -€55 | -6.8% |
| Gross operating margin | 9900 | €30,918 | €82,682 | +€51,763 | +167.4% |
| Operating profit (loss) | 9901 | €19,712 | €81,930 | +€62,218 | +315.6% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | - | €0 | +€0 | |
| Recurring financial charges | 65 | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €19,712 | €81,932 | +€62,220 | +315.6% |
| Income taxes | 67/77 | €6,535 | €29,000 | +€22,465 | +343.8% |
| Profit (loss) for the period | 9904 | €13,177 | €52,932 | +€39,755 | +301.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,177 | €52,932 | +€39,755 | +301.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.