ELEGNAV: 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.
ELEGNAV
Largest movements
- Tangible fixed assets -€1.2m
down €1.2m (-23.4%), from €5.2m to €4.0m
of which Land and buildings: -€1.2m
- Cash -€356,879
down €356,879 (-43.1%), from €828,298 to €471,419
mainly Debts after one year (-€1.6m) and Other debts (-€485,346)
- Receivables within one year +€96,423
up €96,423 (+2,545%), from €3,789 to €100,212
of which Other amounts receivable: +€96,423
- Profit (loss) carried forward +€1.9m
up €1.9m (+93.2%), from -€2.0m to -€139,916
- Debts after one year -€1.6m
down €1.6m (-28.8%), from €5.5m to €3.9m
of which Financial debts: -€1.6m
- Contributions -€1.4m
down €1.4m (-86.7%), from €1.7m to €220,692
- Other debts -€485,346
down €485,346 (-100%), from €485,346 to €0
- Current portion of long-term debt +€132,020
up €132,020 (+146%), from €90,157 to €222,177
- Gross operating margin +€243,243
up €243,243 (+27.6%), from €880,671 to €1.1m
- Taxes -€242,040
down €242,040 (-100%), from €242,040 to €0
- Other operating charges -€57,451
down €57,451 (-80.6%), from €71,319 to €13,868
- Depreciation -€31,521
down €31,521 (-14.0%), from €225,411 to €193,890
- Financial charges -€22,741
down €22,741 (-10.4%), from €219,212 to €196,472
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.
Derived cash bridge
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 | €6,015,629 | €4,537,873 | -€1.5m | -24.6% |
| Fixed assets | 21/28 | €5,180,565 | €3,966,242 | -€1.2m | -23.4% |
| Tangible fixed assets | 22/27 | €5,180,565 | €3,966,242 | -€1.2m | -23.4% |
| Land and buildings | 22 | €5,179,202 | €3,965,170 | -€1.2m | -23.4% |
| Plant, machinery and equipment | 23 | €1,363 | €1,071 | -€292 | -21.4% |
| Current assets | 29/58 | €835,064 | €571,631 | -€263,433 | -31.5% |
| Amounts receivable within one year | 40/41 | €3,789 | €100,212 | +€96,423 | +2,545% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,789 | €100,212 | +€96,423 | +2,545% |
| Cash at bank and in hand | 54/58 | €828,298 | €471,419 | -€356,879 | -43.1% |
| Deferred charges and accrued income | 490/1 | €2,977 | €0 | -€2,977 | -100% |
| Total equity and liabilities | 10/49 | €6,015,629 | €4,537,873 | -€1.5m | -24.6% |
| Equity | 10/15 | -€385,045 | €80,776 | +€465,821 | |
| Contributions | 10/11 | €1,663,000 | €220,692 | -€1.4m | -86.7% |
| Profit (loss) carried forward | 14 | -€2,048,045 | -€139,916 | +€1.9m | +93.2% |
| Amounts payable | 17/49 | €6,400,674 | €4,457,097 | -€1.9m | -30.4% |
| Amounts payable after more than one year | 17 | €5,451,599 | €3,883,752 | -€1.6m | -28.8% |
| Financial debts | 170/4 | €5,443,189 | €3,876,011 | -€1.6m | -28.8% |
| Other amounts payable | 178/9 | €8,410 | €7,741 | -€669 | -8.0% |
| Amounts payable within one year | 42/48 | €635,101 | €294,341 | -€340,760 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €90,157 | €222,177 | +€132,020 | +146% |
| Trade debts | 44 | €55,254 | €72,164 | +€16,910 | +30.6% |
| Suppliers | 440/4 | €55,254 | €72,164 | +€16,910 | +30.6% |
| Taxes, remuneration and social security | 45 | €4,344 | €0 | -€4,344 | -100% |
| Taxes | 450/3 | €4,344 | €0 | -€4,344 | -100% |
| Other amounts payable | 47/48 | €485,346 | €0 | -€485,346 | -100% |
| Accrued charges and deferred income | 492/3 | €313,975 | €279,004 | -€34,971 | -11.1% |
| Non-recurring operating income | 76A | €956,736 | €810,657 | -€146,078 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €225,411 | €193,890 | -€31,521 | -14.0% |
| Other operating charges | 640/8 | €71,319 | €13,868 | -€57,451 | -80.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €880,671 | €1,123,914 | +€243,243 | +27.6% |
| Operating profit (loss) | 9901 | €583,941 | €916,155 | +€332,215 | +56.9% |
| Financial income | 75/76B | €20,269 | €10,088 | -€10,181 | -50.2% |
| Recurring financial income | 75 | €20,269 | €10,088 | -€10,181 | -50.2% |
| Financial charges | 65/66B | €219,212 | €196,472 | -€22,741 | -10.4% |
| Recurring financial charges | 65 | €219,212 | €196,472 | -€22,741 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €384,998 | €729,772 | +€344,774 | +89.6% |
| Income taxes | 67/77 | €242,040 | €0 | -€242,040 | -100% |
| Profit (loss) for the period | 9904 | €142,958 | €729,772 | +€586,814 | +410% |
| Profit (loss) for the period to be appropriated | 9905 | €142,958 | €729,772 | +€586,814 | +410% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.