Elema: 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.
Elema
Largest movements
- Tangible fixed assets +€15,920
up €15,920 (+26.0%), from €61,140 to €77,059
of which Land and buildings: +€16,063
- Cash -€9,606
down €9,606 (-7.8%), from €123,757 to €114,151
mainly Investment in fixed assets (net) (-€51,755) and Contributions, distributions and other (-€9,107)
- Other debts +€10,036
up €10,036 (+106.2%), from €9,446 to €19,482
- Reserves -€5,445
down €5,445 (-5.8%), from €94,645 to €89,200
of which Tax-exempt reserves: -€3,745
- Tax, wage and social debts +€3,343
new in 2025: €3,343
- Depreciation +€2,438
up €2,438 (+7.3%), from €33,397 to €35,835
- Gross operating margin +€1,753
up €1,753 (+4.1%), from €42,613 to €44,366
- Financial charges -€683
down €683 (-52.3%), from €1,306 to €623
- Financial income +€527
up €527 (+44.3%), from €1,189 to €1,717
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 | €188,464 | €194,789 | +€6,325 | +3.4% |
| Fixed assets | 21/28 | €61,140 | €77,059 | +€15,920 | +26.0% |
| Tangible fixed assets | 22/27 | €61,140 | €77,059 | +€15,920 | +26.0% |
| Land and buildings | 22 | €60,531 | €76,594 | +€16,063 | +26.5% |
| Plant, machinery and equipment | 23 | €608 | €465 | -€143 | -23.5% |
| Current assets | 29/58 | €127,324 | €117,730 | -€9,594 | -7.5% |
| Amounts receivable within one year | 40/41 | €2,732 | €2,732 | = | 0.0% |
| Trade receivables | 40 | €449 | €449 | = | 0.0% |
| Other amounts receivable | 41 | €2,283 | €2,283 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €123,757 | €114,151 | -€9,606 | -7.8% |
| Deferred charges and accrued income | 490/1 | €835 | €846 | +€11 | +1.4% |
| Total equity and liabilities | 10/49 | €188,464 | €194,789 | +€6,325 | +3.4% |
| Equity | 10/15 | €177,011 | €171,964 | -€5,047 | -2.9% |
| Contributions | 10/11 | €82,170 | €82,170 | = | 0.0% |
| Reserves | 13 | €94,645 | €89,200 | -€5,445 | -5.8% |
| Tax-exempt reserves | 132 | €3,745 | - | -€3,745 | |
| Distributable reserves | 133 | €90,900 | €89,200 | -€1,700 | -1.9% |
| Profit (loss) carried forward | 14 | €196 | €594 | +€398 | +203.1% |
| Provisions and deferred taxes | 16 | €1,929 | - | -€1,929 | |
| Deferred taxes | 168 | €1,929 | - | -€1,929 | |
| Amounts payable | 17/49 | €9,524 | €22,825 | +€13,301 | +139.7% |
| Amounts payable within one year | 42/48 | €9,446 | €22,825 | +€13,379 | +141.6% |
| Taxes, remuneration and social security | 45 | - | €3,343 | +€3,343 | |
| Taxes | 450/3 | - | €3,343 | +€3,343 | |
| Other amounts payable | 47/48 | €9,446 | €19,482 | +€10,036 | +106.2% |
| Accrued charges and deferred income | 492/3 | €78 | - | -€78 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,397 | €35,835 | +€2,438 | +7.3% |
| Other operating charges | 640/8 | €3,518 | €3,635 | +€117 | +3.3% |
| Gross operating margin | 9900 | €42,613 | €44,366 | +€1,753 | +4.1% |
| Operating profit (loss) | 9901 | €5,698 | €4,896 | -€803 | -14.1% |
| Financial income | 75/76B | €1,189 | €1,717 | +€527 | +44.3% |
| Recurring financial income | 75 | €1,189 | €1,717 | +€527 | +44.3% |
| Financial charges | 65/66B | €1,306 | €623 | -€683 | -52.3% |
| Recurring financial charges | 65 | €1,306 | €623 | -€683 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | €5,582 | €5,989 | +€408 | +7.3% |
| Transfer from deferred taxes | 780 | €1,929 | €1,929 | = | 0.0% |
| Income taxes | 67/77 | €3,574 | €3,858 | +€284 | +7.9% |
| Profit (loss) for the period | 9904 | €3,936 | €4,060 | +€124 | +3.1% |
| Transfer from tax-exempt reserves | 789 | €3,745 | €3,745 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,682 | €7,805 | +€124 | +1.6% |
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 9 October 2026 via checked.be.