ELEL: 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.
ELEL
Largest movements
- Tangible fixed assets +€87,564
up €87,564 (+23.5%), from €372,373 to €459,937
of which Land and buildings: +€94,358
- Receivables within one year -€44,076
down €44,076 (-14.8%), from €297,909 to €253,833
of which Trade receivables: -€58,978
- Trade debts +€43,214
up €43,214 (+755.2%), from €5,722 to €48,937
- Debts after one year -€36,822
down €36,822 (-18.9%), from €195,175 to €158,353
- Current portion of long-term debt +€20,162
up €20,162 (+50.0%), from €40,296 to €60,458
- Tax, wage and social debts +€19,358
up €19,358 (+87.8%), from €22,057 to €41,416
- Advances received -€9,843
no longer reported in 2025 (was €9,843)
- Gross operating margin +€154,484
up €154,484 (+420.2%), from €36,766 to €191,250
- Other operating charges +€100,552
up €100,552 (+1246.0%), from €8,070 to €108,622
- Staff costs +€38,870
up €38,870 (+5237.8%), from €742 to €39,612
- Taxes +€35,771
up €35,771 (+710.4%), from €5,035 to €40,806
- Financial income +€8,382
up €8,382 (+126.5%), from €6,624 to €15,006
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 | €713,976 | €751,449 | +€37,472 | +5.2% |
| Fixed assets | 21/28 | €375,042 | €459,972 | +€84,930 | +22.6% |
| Intangible fixed assets | 21 | €2,634 | €0 | -€2,634 | -100.0% |
| Tangible fixed assets | 22/27 | €372,373 | €459,937 | +€87,564 | +23.5% |
| Land and buildings | 22 | €345,851 | €440,209 | +€94,358 | +27.3% |
| Plant, machinery and equipment | 23 | €10,522 | €4,728 | -€5,794 | -55.1% |
| Furniture and vehicles | 24 | €16,000 | €15,000 | -€1,000 | -6.3% |
| Financial fixed assets | 28 | €35 | €35 | = | 0.0% |
| Current assets | 29/58 | €338,934 | €291,477 | -€47,457 | -14.0% |
| Stocks and contracts in progress | 3 | €40,224 | €35,000 | -€5,224 | -13.0% |
| Stocks | 30/36 | €40,224 | €35,000 | -€5,224 | -13.0% |
| Amounts receivable within one year | 40/41 | €297,909 | €253,833 | -€44,076 | -14.8% |
| Trade receivables | 40 | €179,509 | €120,531 | -€58,978 | -32.9% |
| Other amounts receivable | 41 | €118,399 | €133,301 | +€14,902 | +12.6% |
| Cash at bank and in hand | 54/58 | €801 | €2,644 | +€1,843 | +230.0% |
| Total equity and liabilities | 10/49 | €713,976 | €751,449 | +€37,472 | +5.2% |
| Equity | 10/15 | €113,353 | €106,458 | -€6,895 | -6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,893 | €85,998 | -€6,895 | -7.4% |
| Amounts payable | 17/49 | €600,623 | €644,991 | +€44,368 | +7.4% |
| Amounts payable after more than one year | 17 | €195,175 | €158,353 | -€36,822 | -18.9% |
| Financial debts | 170/4 | €195,175 | €158,353 | -€36,822 | -18.9% |
| Amounts payable within one year | 42/48 | €405,448 | €486,637 | +€81,189 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €40,296 | €60,458 | +€20,162 | +50.0% |
| Trade debts | 44 | €5,722 | €48,937 | +€43,214 | +755.2% |
| Suppliers | 440/4 | €5,722 | €48,937 | +€43,214 | +755.2% |
| Advances received on contracts in progress | 46 | €9,843 | - | -€9,843 | |
| Taxes, remuneration and social security | 45 | €22,057 | €41,416 | +€19,358 | +87.8% |
| Taxes | 450/3 | €22,057 | €41,416 | +€19,358 | +87.8% |
| Other amounts payable | 47/48 | €327,530 | €335,827 | +€8,298 | +2.5% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Remuneration, social security and pensions | 62 | €742 | €39,612 | +€38,870 | +5237.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,244 | €14,362 | -€2,882 | -16.7% |
| Other operating charges | 640/8 | €8,070 | €108,622 | +€100,552 | +1246.0% |
| Non-recurring operating charges | 66A | €1,500 | - | -€1,500 | |
| Gross operating margin | 9900 | €36,766 | €191,250 | +€154,484 | +420.2% |
| Operating profit (loss) | 9901 | €9,209 | €28,653 | +€19,444 | +211.1% |
| Financial income | 75/76B | €6,624 | €15,006 | +€8,382 | +126.5% |
| Recurring financial income | 75 | €6,624 | €15,006 | +€8,382 | +126.5% |
| Financial charges | 65/66B | €7,608 | €9,748 | +€2,140 | +28.1% |
| Recurring financial charges | 65 | €7,608 | €9,748 | +€2,140 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €8,225 | €33,911 | +€25,686 | +312.3% |
| Income taxes | 67/77 | €5,035 | €40,806 | +€35,771 | +710.4% |
| Profit (loss) for the period | 9904 | €3,190 | -€6,895 | -€10,085 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,190 | -€6,895 | -€10,085 |
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 5 October 2026 via checked.be.