ELEMCO: 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.
ELEMCO
Largest movements
- Receivables within one year -€25,003
down €25,003 (-56.5%), from €44,246 to €19,243
of which Trade receivables: -€27,125
- Cash -€8,432
down €8,432 (-11.8%), from €71,402 to €62,971
mainly Contributions, distributions and other (-€111,975) and Investment in fixed assets (net) (-€12,973)
- Tangible fixed assets +€2,523
up €2,523 (+6.1%), from €41,051 to €43,574
of which Furniture and vehicles: +€5,174
- Reserves -€94,312
down €94,312 (-100.0%), from €94,312 to €0
- Debts after one year +€54,226
up €54,226 (+170.8%), from €31,742 to €85,968
- Tax, wage and social debts +€8,386
up €8,386 (+60.7%), from €13,810 to €22,196
- Gross operating margin -€26,503
down €26,503 (-37.5%), from €70,630 to €44,127
- Taxes -€4,565
down €4,565 (-32.1%), from €14,221 to €9,656
- Financial charges +€1,424
up €1,424 (+57.4%), from €2,482 to €3,906
- Depreciation +€913
up €913 (+9.6%), from €9,536 to €10,450
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 | €159,939 | €129,855 | -€30,083 | -18.8% |
| Fixed assets | 21/28 | €41,051 | €43,574 | +€2,523 | +6.1% |
| Tangible fixed assets | 22/27 | €41,051 | €43,574 | +€2,523 | +6.1% |
| Plant, machinery and equipment | 23 | €3,538 | €2,246 | -€1,292 | -36.5% |
| Furniture and vehicles | 24 | €3,086 | €8,259 | +€5,174 | +167.7% |
| Other tangible fixed assets | 26 | €34,427 | €33,069 | -€1,358 | -3.9% |
| Current assets | 29/58 | €118,888 | €86,281 | -€32,606 | -27.4% |
| Amounts receivable within one year | 40/41 | €44,246 | €19,243 | -€25,003 | -56.5% |
| Trade receivables | 40 | €43,467 | €16,342 | -€27,125 | -62.4% |
| Other amounts receivable | 41 | €779 | €2,902 | +€2,122 | +272.4% |
| Cash at bank and in hand | 54/58 | €71,402 | €62,971 | -€8,432 | -11.8% |
| Deferred charges and accrued income | 490/1 | €3,240 | €4,067 | +€828 | +25.5% |
| Total equity and liabilities | 10/49 | €159,939 | €129,855 | -€30,083 | -18.8% |
| Equity | 10/15 | €112,862 | €18,550 | -€94,312 | -83.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €94,312 | €0 | -€94,312 | -100.0% |
| Distributable reserves | 133 | €94,312 | €0 | -€94,312 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,077 | €111,305 | +€64,228 | +136.4% |
| Amounts payable after more than one year | 17 | €31,742 | €85,968 | +€54,226 | +170.8% |
| Other amounts payable | 178/9 | €31,742 | €85,968 | +€54,226 | +170.8% |
| Amounts payable within one year | 42/48 | €15,335 | €25,337 | +€10,002 | +65.2% |
| Financial debts | 43 | - | €1,157 | +€1,157 | |
| Credit institutions | 430/8 | - | €1,157 | +€1,157 | |
| Trade debts | 44 | €1,524 | €1,984 | +€459 | +30.1% |
| Suppliers | 440/4 | €1,524 | €1,984 | +€459 | +30.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €13,810 | €22,196 | +€8,386 | +60.7% |
| Taxes | 450/3 | €13,810 | €22,196 | +€8,386 | +60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,536 | €10,450 | +€913 | +9.6% |
| Other operating charges | 640/8 | €1,900 | €2,490 | +€590 | +31.1% |
| Gross operating margin | 9900 | €70,630 | €44,127 | -€26,503 | -37.5% |
| Operating profit (loss) | 9901 | €59,194 | €31,187 | -€28,007 | -47.3% |
| Financial income | 75/76B | €6 | €38 | +€32 | +514.4% |
| Recurring financial income | 75 | €6 | €38 | +€32 | +514.4% |
| Financial charges | 65/66B | €2,482 | €3,906 | +€1,424 | +57.4% |
| Recurring financial charges | 65 | €2,482 | €3,906 | +€1,424 | +57.4% |
| Profit (loss) for the period before taxes | 9903 | €56,719 | €27,320 | -€29,399 | -51.8% |
| Income taxes | 67/77 | €14,221 | €9,656 | -€4,565 | -32.1% |
| Profit (loss) for the period | 9904 | €42,498 | €17,664 | -€24,834 | -58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,498 | €17,664 | -€24,834 | -58.4% |
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 7 October 2026 via checked.be.