ELEKTRO G.S.E.: 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.
ELEKTRO G.S.E.
Largest movements
- Cash +€20,255
new in 2025: €20,255
mainly Stocks and contracts (+€18,638) and Net result for the year (+€18,527)
- Receivables within one year +€19,299
up €19,299 (+108%), from €17,920 to €37,218
of which Trade receivables: +€17,568
- Stocks and contracts -€18,638
down €18,638 (-31.6%), from €59,059 to €40,421
- Tangible fixed assets -€4,641
down €4,641 (-60.2%), from €7,705 to €3,064
- Reserves +€12,636
up €12,636 (+33.8%), from €37,379 to €50,015
- Other debts +€5,492
up €5,492 (+910%), from €604 to €6,095
- Short-term financial debts -€5,070
down €5,070 (-100%), from €5,070 to €0
- Current portion of long-term debt -€4,010
down €4,010 (-100%), from €4,010 to €0
- Accrued charges and deferred income +€3,847
up €3,847 (+1,607%), from €239 to €4,086
- Gross operating margin +€36,195
up €36,195, from -€3,164 to €33,031
- Financial charges +€4,058
up €4,058 (+665%), from €610 to €4,668
- Taxes +€3,876
up €3,876 (+2,713%), from €143 to €4,019
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 | €87,077 | €103,173 | +€16,096 | +18.5% |
| Fixed assets | 21/28 | €7,705 | €3,064 | -€4,641 | -60.2% |
| Tangible fixed assets | 22/27 | €7,705 | €3,064 | -€4,641 | -60.2% |
| Furniture and vehicles | 24 | €7,705 | €3,064 | -€4,641 | -60.2% |
| Current assets | 29/58 | €79,372 | €100,109 | +€20,737 | +26.1% |
| Stocks and contracts in progress | 3 | €59,059 | €40,421 | -€18,638 | -31.6% |
| Stocks | 30/36 | €59,059 | €40,421 | -€18,638 | -31.6% |
| Amounts receivable within one year | 40/41 | €17,920 | €37,218 | +€19,299 | +108% |
| Trade receivables | 40 | €15,355 | €32,923 | +€17,568 | +114% |
| Other amounts receivable | 41 | €2,564 | €4,295 | +€1,730 | +67.5% |
| Cash at bank and in hand | 54/58 | - | €20,255 | +€20,255 | |
| Deferred charges and accrued income | 490/1 | €2,393 | €2,213 | -€179 | -7.5% |
| Total equity and liabilities | 10/49 | €87,077 | €103,173 | +€16,096 | +18.5% |
| Equity | 10/15 | €46,039 | €58,675 | +€12,636 | +27.4% |
| Contributions | 10/11 | €8,660 | €8,660 | = | 0.0% |
| Reserves | 13 | €37,379 | €50,015 | +€12,636 | +33.8% |
| Distributable reserves | 133 | €37,379 | €50,015 | +€12,636 | +33.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,037 | €44,498 | +€3,461 | +8.4% |
| Amounts payable after more than one year | 17 | €26,000 | €26,000 | = | 0.0% |
| Financial debts | 170/4 | €26,000 | €26,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,798 | €14,412 | -€386 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €4,010 | €0 | -€4,010 | -100% |
| Financial debts | 43 | €5,070 | €0 | -€5,070 | -100% |
| Credit institutions | 430/8 | €5,070 | €0 | -€5,070 | -100% |
| Trade debts | 44 | €3,696 | €3,618 | -€79 | -2.1% |
| Suppliers | 440/4 | €3,696 | €3,618 | -€79 | -2.1% |
| Taxes, remuneration and social security | 45 | €1,418 | €4,699 | +€3,281 | +231% |
| Taxes | 450/3 | €1,418 | €4,699 | +€3,281 | +231% |
| Other amounts payable | 47/48 | €604 | €6,095 | +€5,492 | +910% |
| Accrued charges and deferred income | 492/3 | €239 | €4,086 | +€3,847 | +1,607% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,641 | €4,641 | = | 0.0% |
| Other operating charges | 640/8 | €916 | €1,176 | +€260 | +28.4% |
| Gross operating margin | 9900 | -€3,164 | €33,031 | +€36,195 | |
| Operating profit (loss) | 9901 | -€8,720 | €27,215 | +€35,935 | |
| Financial income | 75/76B | €70 | €0 | -€70 | -100% |
| Recurring financial income | 75 | €70 | €0 | -€70 | -100% |
| Financial charges | 65/66B | €610 | €4,668 | +€4,058 | +665% |
| Recurring financial charges | 65 | €610 | €4,668 | +€4,058 | +665% |
| Profit (loss) for the period before taxes | 9903 | -€9,261 | €22,547 | +€31,807 | |
| Income taxes | 67/77 | €143 | €4,019 | +€3,876 | +2,713% |
| Profit (loss) for the period | 9904 | -€9,404 | €18,527 | +€27,931 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,404 | €18,527 | +€27,931 |
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 25 October 2026 via checked.be.