ELEM PROJECTEN: 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.
ELEM PROJECTEN
Largest movements
- Tangible fixed assets +€45,840
up €45,840 (+3,616%), from €1,268 to €47,108
of which Furniture and vehicles: +€37,123
- Cash +€10,194
up €10,194 (+71.3%), from €14,298 to €24,491
mainly Debts after one year (+€19,959) and Net result for the year (+€16,739)
- Receivables within one year +€2,429
up €2,429 (+57.8%), from €4,203 to €6,632
of which Trade receivables: +€3,074
- Debts after one year +€19,959
new in 2025: €19,959
- Profit (loss) carried forward +€16,739
up €16,739 (+293%), from €5,719 to €22,458
- Tax, wage and social debts +€9,967
up €9,967 (+184%), from €5,403 to €15,370
of which Taxes: +€9,746
- Current portion of long-term debt +€8,321
new in 2025: €8,321
- Other debts +€1,561
up €1,561 (+32.4%), from €4,815 to €6,376
- Gross operating margin +€31,052
up €31,052 (+387%), from €8,027 to €39,079
- Depreciation +€12,628
up €12,628 (+5,439%), from €232 to €12,860
- Taxes +€3,589
up €3,589 (+213%), from €1,687 to €5,276
- Other operating charges +€2,707
up €2,707 (+1,088%), from €249 to €2,956
- Financial charges +€1,117
up €1,117 (+796%), from €140 to €1,257
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 | €20,478 | €79,106 | +€58,629 | +286% |
| Fixed assets | 21/28 | €1,268 | €47,108 | +€45,840 | +3,616% |
| Tangible fixed assets | 22/27 | €1,268 | €47,108 | +€45,840 | +3,616% |
| Plant, machinery and equipment | 23 | €1,268 | €9,985 | +€8,717 | +688% |
| Furniture and vehicles | 24 | - | €37,123 | +€37,123 | |
| Current assets | 29/58 | €19,210 | €31,998 | +€12,788 | +66.6% |
| Amounts receivable within one year | 40/41 | €4,203 | €6,632 | +€2,429 | +57.8% |
| Trade receivables | 40 | €3,545 | €6,619 | +€3,074 | +86.7% |
| Other amounts receivable | 41 | €658 | €13 | -€645 | -98.0% |
| Cash at bank and in hand | 54/58 | €14,298 | €24,491 | +€10,194 | +71.3% |
| Deferred charges and accrued income | 490/1 | €709 | €875 | +€166 | +23.4% |
| Total equity and liabilities | 10/49 | €20,478 | €79,106 | +€58,629 | +286% |
| Equity | 10/15 | €8,719 | €25,458 | +€16,739 | +192% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,719 | €22,458 | +€16,739 | +293% |
| Amounts payable | 17/49 | €11,759 | €53,648 | +€41,890 | +356% |
| Amounts payable after more than one year | 17 | - | €19,959 | +€19,959 | |
| Financial debts | 170/4 | - | €19,959 | +€19,959 | |
| Amounts payable within one year | 42/48 | €11,759 | €32,601 | +€20,842 | +177% |
| Current portion of amounts payable after more than one year | 42 | - | €8,321 | +€8,321 | |
| Trade debts | 44 | €1,540 | €2,533 | +€993 | +64.5% |
| Suppliers | 440/4 | €1,540 | €2,533 | +€993 | +64.5% |
| Taxes, remuneration and social security | 45 | €5,403 | €15,370 | +€9,967 | +184% |
| Taxes | 450/3 | €3,200 | €12,946 | +€9,746 | +305% |
| Remuneration and social security | 454/9 | €2,203 | €2,424 | +€221 | +10.0% |
| Other amounts payable | 47/48 | €4,815 | €6,376 | +€1,561 | +32.4% |
| Accrued charges and deferred income | 492/3 | - | €1,088 | +€1,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232 | €12,860 | +€12,628 | +5,439% |
| Other operating charges | 640/8 | €249 | €2,956 | +€2,707 | +1,088% |
| Gross operating margin | 9900 | €8,027 | €39,079 | +€31,052 | +387% |
| Operating profit (loss) | 9901 | €7,546 | €23,263 | +€15,717 | +208% |
| Financial income | 75/76B | €1 | €9 | +€8 | +1,044% |
| Recurring financial income | 75 | €1 | €9 | +€8 | +1,044% |
| Financial charges | 65/66B | €140 | €1,257 | +€1,117 | +796% |
| Recurring financial charges | 65 | €140 | €1,257 | +€1,117 | +796% |
| Profit (loss) for the period before taxes | 9903 | €7,406 | €22,015 | +€14,609 | +197% |
| Income taxes | 67/77 | €1,687 | €5,276 | +€3,589 | +213% |
| Profit (loss) for the period | 9904 | €5,719 | €16,739 | +€11,020 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €5,719 | €16,739 | +€11,020 | +193% |
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.