ELEM3NTS: 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.
ELEM3NTS
Largest movements
- Receivables within one year +€103,611
up €103,611 (+102.7%), from €100,874 to €204,485
of which Trade receivables: +€85,956
- Intangible fixed assets -€25,000
down €25,000 (-25.0%), from €100,000 to €75,000
- Cash -€12,179
down €12,179 (-12.2%), from €100,011 to €87,832
mainly Receivables within one year (-€103,611) and Net result for the year (-€67,898)
- Trade debts +€138,002
up €138,002 (+116.4%), from €118,537 to €256,539
- Profit (loss) carried forward -€46,839
new in 2025: -€46,839
- Reserves -€21,059
no longer reported in 2025 (was €21,059)
- Staff costs +€107,572
up €107,572 (+476.1%), from €22,593 to €130,165
- Gross operating margin +€11,924
up €11,924 (+14.6%), from €81,943 to €93,867
- Taxes -€7,274
down €7,274 (-96.0%), from €7,578 to €304
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 | €300,965 | €370,963 | +€69,998 | +23.3% |
| Fixed assets | 21/28 | €100,000 | €78,540 | -€21,460 | -21.5% |
| Intangible fixed assets | 21 | €100,000 | €75,000 | -€25,000 | -25.0% |
| Tangible fixed assets | 22/27 | - | €3,540 | +€3,540 | |
| Plant, machinery and equipment | 23 | - | €1,045 | +€1,045 | |
| Furniture and vehicles | 24 | - | €2,494 | +€2,494 | |
| Current assets | 29/58 | €200,965 | €292,424 | +€91,458 | +45.5% |
| Amounts receivable within one year | 40/41 | €100,874 | €204,485 | +€103,611 | +102.7% |
| Trade receivables | 40 | €100,874 | €186,830 | +€85,956 | +85.2% |
| Other amounts receivable | 41 | - | €17,655 | +€17,655 | |
| Cash at bank and in hand | 54/58 | €100,011 | €87,832 | -€12,179 | -12.2% |
| Deferred charges and accrued income | 490/1 | €80 | €107 | +€27 | +33.4% |
| Total equity and liabilities | 10/49 | €300,965 | €370,963 | +€69,998 | +23.3% |
| Equity | 10/15 | €31,059 | -€36,839 | -€67,898 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €21,059 | - | -€21,059 | |
| Distributable reserves | 133 | €21,059 | - | -€21,059 | |
| Profit (loss) carried forward | 14 | - | -€46,839 | -€46,839 | |
| Amounts payable | 17/49 | €269,906 | €407,802 | +€137,896 | +51.1% |
| Amounts payable within one year | 42/48 | €269,585 | €407,802 | +€138,217 | +51.3% |
| Trade debts | 44 | €118,537 | €256,539 | +€138,002 | +116.4% |
| Suppliers | 440/4 | €118,537 | €256,539 | +€138,002 | +116.4% |
| Taxes, remuneration and social security | 45 | €21,257 | €23,201 | +€1,945 | +9.1% |
| Taxes | 450/3 | €16,365 | €304 | -€16,062 | -98.1% |
| Remuneration and social security | 454/9 | €4,891 | €22,898 | +€18,006 | +368.1% |
| Other amounts payable | 47/48 | €129,792 | €128,062 | -€1,730 | -1.3% |
| Accrued charges and deferred income | 492/3 | €321 | - | -€321 | |
| Remuneration, social security and pensions | 62 | €22,593 | €130,165 | +€107,572 | +476.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,000 | €25,665 | +€665 | +2.7% |
| Other operating charges | 640/8 | €846 | €62 | -€784 | -92.7% |
| Gross operating margin | 9900 | €81,943 | €93,867 | +€11,924 | +14.6% |
| Operating profit (loss) | 9901 | €33,504 | -€62,026 | -€95,529 | |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €4,866 | €5,583 | +€717 | +14.7% |
| Recurring financial charges | 65 | €4,866 | €5,583 | +€717 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €28,637 | -€67,595 | -€96,232 | |
| Income taxes | 67/77 | €7,578 | €304 | -€7,274 | -96.0% |
| Profit (loss) for the period | 9904 | €21,059 | -€67,898 | -€88,958 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,059 | -€67,898 | -€88,958 |
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 8 October 2026 via checked.be.