ELEKTROM: 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.
ELEKTROM
Largest movements
- Receivables within one year +€204,386
up €204,386 (+223%), from €91,803 to €296,189
of which Trade receivables: +€198,533
- Stocks and contracts +€14,269
up €14,269 (+35.5%), from €40,201 to €54,469
of which Contracts in progress: +€17,744
- Cash -€11,268
down €11,268 (-97.0%), from €11,618 to €351
mainly Receivables within one year (-€204,386) and Investment in fixed assets (net) (-€50,571)
- Tangible fixed assets +€7,738
up €7,738 (+2.7%), from €282,093 to €289,832
of which Land and buildings: +€8,180
- Reserves +€130,539
up €130,539 (+174%), from €74,924 to €205,463
- Tax, wage and social debts +€54,106
up €54,106 (+5,427%), from €997 to €55,103
- Trade debts +€15,232
up €15,232 (+26.2%), from €58,189 to €73,421
- Current portion of long-term debt +€10,480
new in 2025: €10,480
- Other debts +€8,814
up €8,814 (+6.8%), from €129,543 to €138,357
- Gross operating margin +€180,161
up €180,161 (+228%), from €79,066 to €259,227
- Taxes +€52,470
up €52,470 (+693%), from €7,569 to €60,039
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 | €429,629 | €644,837 | +€215,208 | +50.1% |
| Formation expenses | 20 | €3,913 | €2,914 | -€999 | -25.5% |
| Fixed assets | 21/28 | €282,093 | €289,832 | +€7,738 | +2.7% |
| Tangible fixed assets | 22/27 | €282,093 | €289,832 | +€7,738 | +2.7% |
| Land and buildings | 22 | €210,223 | €218,403 | +€8,180 | +3.9% |
| Plant, machinery and equipment | 23 | €62,009 | €66,821 | +€4,812 | +7.8% |
| Furniture and vehicles | 24 | €9,861 | €4,608 | -€5,254 | -53.3% |
| Current assets | 29/58 | €143,622 | €352,091 | +€208,469 | +145% |
| Stocks and contracts in progress | 3 | €40,201 | €54,469 | +€14,269 | +35.5% |
| Stocks | 30/36 | €40,201 | €36,725 | -€3,475 | -8.6% |
| Contracts in progress | 37 | - | €17,744 | +€17,744 | |
| Amounts receivable within one year | 40/41 | €91,803 | €296,189 | +€204,386 | +223% |
| Trade receivables | 40 | €64,856 | €263,389 | +€198,533 | +306% |
| Other amounts receivable | 41 | €26,947 | €32,800 | +€5,853 | +21.7% |
| Cash at bank and in hand | 54/58 | €11,618 | €351 | -€11,268 | -97.0% |
| Deferred charges and accrued income | 490/1 | - | €1,082 | +€1,082 | |
| Total equity and liabilities | 10/49 | €429,629 | €644,837 | +€215,208 | +50.1% |
| Equity | 10/15 | €75,924 | €206,463 | +€130,539 | +172% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €74,924 | €205,463 | +€130,539 | +174% |
| Distributable reserves | 133 | €74,924 | €205,463 | +€130,539 | +174% |
| Amounts payable | 17/49 | €353,705 | €438,374 | +€84,669 | +23.9% |
| Amounts payable after more than one year | 17 | €164,976 | €161,014 | -€3,963 | -2.4% |
| Financial debts | 170/4 | €164,976 | €161,014 | -€3,963 | -2.4% |
| Amounts payable within one year | 42/48 | €188,729 | €277,361 | +€88,632 | +47.0% |
| Current portion of amounts payable after more than one year | 42 | - | €10,480 | +€10,480 | |
| Trade debts | 44 | €58,189 | €73,421 | +€15,232 | +26.2% |
| Suppliers | 440/4 | €58,189 | €73,421 | +€15,232 | +26.2% |
| Taxes, remuneration and social security | 45 | €997 | €55,103 | +€54,106 | +5,427% |
| Taxes | 450/3 | €997 | €55,103 | +€54,106 | +5,427% |
| Other amounts payable | 47/48 | €129,543 | €138,357 | +€8,814 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,405 | €43,831 | +€1,427 | +3.4% |
| Other operating charges | 640/8 | €1,660 | €2,791 | +€1,130 | +68.1% |
| Gross operating margin | 9900 | €79,066 | €259,227 | +€180,161 | +228% |
| Operating profit (loss) | 9901 | €35,000 | €212,604 | +€177,604 | +507% |
| Financial income | 75/76B | €889 | €18 | -€871 | -98.0% |
| Recurring financial income | 75 | €889 | €18 | -€871 | -98.0% |
| Financial charges | 65/66B | €8,218 | €8,138 | -€79 | -1.0% |
| Recurring financial charges | 65 | €8,218 | €8,138 | -€79 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €27,671 | €204,484 | +€176,813 | +639% |
| Income taxes | 67/77 | €7,569 | €60,039 | +€52,470 | +693% |
| Profit (loss) for the period | 9904 | €20,102 | €144,445 | +€124,343 | +619% |
| Profit (loss) for the period to be appropriated | 9905 | €20,102 | €144,445 | +€124,343 | +619% |
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 13 October 2026 via checked.be.