ELEM: 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.
What changed
ELEM
NACE 46.900, Non-specialised wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€376,239
2024 · €245,169-€621,408
Equity
€4.2m
2024 · €4.5m-€376,239
Cash
€851,198
2024 · €1.9m-€1.1m
Balance sheet total
€12.0m
2024 · €14.8m-€2.7m
Largest movements
Assets
- Receivables within one year -€2.6m
down €2.6m (-40.6%), from €6.3m to €3.7m
of which Trade receivables: -€2.5m
- Cash -€1.1m
down €1.1m (-55.6%), from €1.9m to €851,198
mainly Trade debts (-€2.3m) and Stocks and contracts (-€740,915)
- Stocks and contracts +€740,915
up €740,915 (+13.3%), from €5.6m to €6.3m
Equity and liabilities
- Trade debts -€2.3m
down €2.3m (-67.6%), from €3.4m to €1.1m
- Profit (loss) carried forward -€376,239
down €376,239 (-11.3%), from €3.3m to €2.9m
Income statement
- Turnover -€10.5m
down €10.5m (-38.4%), from €27.4m to €16.9m
- Goods and materials -€6.6m
down €6.6m (-36.7%), from €17.9m to €11.3m
of which Purchases: -€3.3m
- Services and other goods -€1.9m
down €1.9m (-32.5%), from €5.7m to €3.9m
- Staff costs -€663,794
down €663,794 (-24.7%), from €2.7m to €2.0m
- Other operating income +€458,354
up €458,354 (+244.4%), from €187,519 to €645,873
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.
Result 2024
€245,169
Turnover
-€10.5m
Other operating income
+€458,354
Goods and materials
+€6.6m
Services and other goods
+€1.9m
Staff costs
+€663,794
Depreciation
+€60,013
Write-downs
+€33,951
Provisions
+€22,312
Other operating charges
+€12,329
Other operating items
-€3,136
Financial income
+€35,173
Financial charges
+€78,946
Taxes
+€121,291
Result 2025
-€376,239
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.
From operations
-€813,742
Investment
-€288,404
Financing
+€34,170
Cash 2024
€1.9m
From operations (derived)
-€813,742
Net result for the year
-€376,239
Depreciation
+€178,024
Stocks and contracts
-€740,915
Receivables within one year
+€2.6m
Deferred charges and accrued income
-€40,293
Smaller working-capital items
-€5,061
Trade debts
-€2.3m
Tax, wage and social debts
-€34,735
Other debts
-€62,245
Investment (derived)
-€288,404
Investment in fixed assets (net)
-€288,404
Financing
+€34,170
Debts after one year
-€100,793
Current portion of long-term debt
+€9,259
Short-term financial debts
+€125,705
Cash 2025
€851,198
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,770,167 | €12,042,699 | -€2.7m | -18.5% |
| Fixed assets | 21/28 | €862,102 | €972,482 | +€110,380 | +12.8% |
| Intangible fixed assets | 21 | €425,161 | €519,533 | +€94,372 | +22.2% |
| Tangible fixed assets | 22/27 | €414,441 | €430,449 | +€16,008 | +3.9% |
| Land and buildings | 22 | €156,817 | €172,727 | +€15,909 | +10.1% |
| Plant, machinery and equipment | 23 | €47,523 | €69,070 | +€21,547 | +45.3% |
| Furniture and vehicles | 24 | €75,860 | €77,094 | +€1,235 | +1.6% |
| Leasing and similar rights | 25 | €132,916 | €111,176 | -€21,740 | -16.4% |
| Other tangible fixed assets | 26 | €1,324 | €381 | -€943 | -71.2% |
| Financial fixed assets | 28 | €22,500 | €22,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €22,500 | €22,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €22,500 | €22,500 | = | 0.0% |
| Current assets | 29/58 | €13,908,065 | €11,070,217 | -€2.8m | -20.4% |
| Stocks and contracts in progress | 3 | €5,585,227 | €6,326,142 | +€740,915 | +13.3% |
| Stocks | 30/36 | €5,585,227 | €6,326,142 | +€740,915 | +13.3% |
| Goods purchased for resale | 34 | €5,585,227 | €6,326,142 | +€740,915 | +13.3% |
| Amounts receivable within one year | 40/41 | €6,277,833 | €3,726,753 | -€2.6m | -40.6% |
| Trade receivables | 40 | €6,249,029 | €3,700,365 | -€2.5m | -40.8% |
| Other amounts receivable | 41 | €28,805 | €26,387 | -€2,417 | -8.4% |
| Cash at bank and in hand | 54/58 | €1,919,173 | €851,198 | -€1.1m | -55.6% |
| Deferred charges and accrued income | 490/1 | €125,832 | €166,125 | +€40,293 | +32.0% |
| Total equity and liabilities | 10/49 | €14,770,167 | €12,042,699 | -€2.7m | -18.5% |
| Equity | 10/15 | €4,537,143 | €4,160,904 | -€376,239 | -8.3% |
| Contributions | 10/11 | €570,155 | €570,155 | = | 0.0% |
| Capital | 10 | €570,155 | €570,155 | = | 0.0% |
| Issued capital | 100 | €570,155 | €570,155 | = | 0.0% |
| Reserves | 13 | €652,082 | €652,082 | = | 0.0% |
| Non-distributable reserves | 130/1 | €57,016 | €57,016 | = | 0.0% |
| Legal reserve | 130 | €57,016 | €57,016 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,423 | €4,423 | = | 0.0% |
| Distributable reserves | 133 | €590,643 | €590,643 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,314,906 | €2,938,667 | -€376,239 | -11.3% |
| Provisions and deferred taxes | 16 | €71,423 | €66,401 | -€5,021 | -7.0% |
| Provisions for liabilities and charges | 160/5 | €71,423 | €66,401 | -€5,021 | -7.0% |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Environmental obligations | 163 | - | €66,401 | +€66,401 | |
| Other liabilities and charges | 164/5 | €71,423 | - | -€71,423 | |
| Amounts payable | 17/49 | €10,161,601 | €7,815,394 | -€2.3m | -23.1% |
| Amounts payable after more than one year | 17 | €399,804 | €299,011 | -€100,793 | -25.2% |
| Financial debts | 170/4 | €399,804 | €299,011 | -€100,793 | -25.2% |
| Leasing and similar obligations | 172 | €99,947 | €72,221 | -€27,727 | -27.7% |
| Credit institutions | 173 | €299,857 | €226,790 | -€73,066 | -24.4% |
| Amounts payable within one year | 42/48 | €9,747,319 | €7,501,944 | -€2.2m | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €113,750 | €123,008 | +€9,259 | +8.1% |
| Financial debts | 43 | €5,400,250 | €5,525,955 | +€125,705 | +2.3% |
| Credit institutions | 430/8 | €5,400,250 | €5,525,955 | +€125,705 | +2.3% |
| Trade debts | 44 | €3,378,878 | €1,095,521 | -€2.3m | -67.6% |
| Suppliers | 440/4 | €3,378,878 | €1,095,521 | -€2.3m | -67.6% |
| Taxes, remuneration and social security | 45 | €612,235 | €577,500 | -€34,735 | -5.7% |
| Taxes | 450/3 | €414,112 | €375,598 | -€38,514 | -9.3% |
| Remuneration and social security | 454/9 | €198,123 | €201,902 | +€3,779 | +1.9% |
| Other amounts payable | 47/48 | €242,205 | €179,960 | -€62,245 | -25.7% |
| Accrued charges and deferred income | 492/3 | €14,479 | €14,439 | -€40 | -0.3% |
| Operating income | 70/76A | €27,601,919 | €17,532,908 | -€10.1m | -36.5% |
| Turnover | 70 | €27,411,264 | €16,887,036 | -€10.5m | -38.4% |
| Other operating income | 74 | €187,519 | €645,873 | +€458,354 | +244.4% |
| Non-recurring operating income | 76A | €3,136 | €0 | -€3,136 | -100.0% |
| Operating charges | 60/66A | €26,680,713 | €17,468,521 | -€9.2m | -34.5% |
| Goods for resale, raw materials and consumables | 60 | €17,855,239 | €11,294,354 | -€6.6m | -36.7% |
| Purchases | 600/8 | €15,341,736 | €12,035,269 | -€3.3m | -21.6% |
| Change in stocks: decrease (increase) | 609 | €2,513,503 | -€740,915 | -€3.3m | |
| Services and other goods | 61 | €5,725,402 | €3,866,494 | -€1.9m | -32.5% |
| Remuneration, social security and pensions | 62 | €2,685,741 | €2,021,947 | -€663,794 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,037 | €178,024 | -€60,013 | -25.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €41,684 | €7,732 | -€33,951 | -81.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €17,291 | -€5,021 | -€22,312 | |
| Other operating charges | 640/8 | €117,319 | €104,990 | -€12,329 | -10.5% |
| Operating profit (loss) | 9901 | €921,206 | €64,387 | -€856,818 | -93.0% |
| Financial income | 75/76B | €13,446 | €48,619 | +€35,173 | +261.6% |
| Recurring financial income | 75 | €13,446 | €48,619 | +€35,173 | +261.6% |
| Income from current assets | 751 | €2,386 | €894 | -€1,491 | -62.5% |
| Other financial income | 752/9 | €11,060 | €47,725 | +€36,665 | +331.5% |
| Financial charges | 65/66B | €568,800 | €489,853 | -€78,946 | -13.9% |
| Recurring financial charges | 65 | €568,800 | €489,853 | -€78,946 | -13.9% |
| Debt charges | 650 | €336,661 | €172,958 | -€163,703 | -48.6% |
| Other financial charges | 652/9 | €232,138 | €316,895 | +€84,757 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €365,852 | -€376,847 | -€742,699 | |
| Income taxes | 67/77 | €120,683 | -€608 | -€121,291 | |
| Taxes | 670/3 | €120,711 | €2,551 | -€118,160 | -97.9% |
| Tax adjustments and reversals of tax provisions | 77 | €27 | €3,158 | +€3,131 | +11397.8% |
| Profit (loss) for the period | 9904 | €245,169 | -€376,239 | -€621,408 | |
| Profit (loss) for the period to be appropriated | 9905 | €245,169 | -€376,239 | -€621,408 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.