ELEMENTAL: 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.
ELEMENTAL
Largest movements
- Tangible fixed assets +€45,289
up €45,289 (+282%), from €16,079 to €61,368
- Cash -€22,055
down €22,055 (-97.1%), from €22,714 to €659
mainly Investment in fixed assets (net) (-€53,082) and Contributions, distributions and other (-€32,217)
- Receivables within one year +€9,331
up €9,331 (+27.1%), from €34,403 to €43,734
of which Other amounts receivable: +€7,893
- Stocks and contracts -€1,500
down €1,500 (-49.5%), from €3,029 to €1,529
- Other debts +€23,130
up €23,130 (+255%), from €9,087 to €32,217
- Debts after one year +€6,746
up €6,746 (+2,482%), from €272 to €7,018
- Tax, wage and social debts -€3,318
down €3,318 (-35.7%), from €9,299 to €5,981
- Reserves +€2,277
up €2,277 (+4.7%), from €48,357 to €50,634
- Gross operating margin +€40,230
up €40,230 (+229%), from €17,530 to €57,760
- Taxes +€9,581
up €9,581 (+200%), from €4,789 to €14,370
- Depreciation +€3,884
up €3,884 (+99.4%), from €3,909 to €7,793
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 | €81,076 | €111,833 | +€30,758 | +37.9% |
| Fixed assets | 21/28 | €16,079 | €61,368 | +€45,289 | +282% |
| Tangible fixed assets | 22/27 | €16,079 | €61,368 | +€45,289 | +282% |
| Furniture and vehicles | 24 | €16,079 | €61,368 | +€45,289 | +282% |
| Current assets | 29/58 | €64,997 | €50,465 | -€14,531 | -22.4% |
| Stocks and contracts in progress | 3 | €3,029 | €1,529 | -€1,500 | -49.5% |
| Stocks | 30/36 | €3,029 | €1,529 | -€1,500 | -49.5% |
| Amounts receivable within one year | 40/41 | €34,403 | €43,734 | +€9,331 | +27.1% |
| Trade receivables | 40 | €34,130 | €35,569 | +€1,438 | +4.2% |
| Other amounts receivable | 41 | €273 | €8,165 | +€7,893 | +2,894% |
| Cash at bank and in hand | 54/58 | €22,714 | €659 | -€22,055 | -97.1% |
| Deferred charges and accrued income | 490/1 | €4,851 | €4,544 | -€307 | -6.3% |
| Total equity and liabilities | 10/49 | €81,076 | €111,833 | +€30,758 | +37.9% |
| Equity | 10/15 | €60,757 | €63,034 | +€2,277 | +3.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €48,357 | €50,634 | +€2,277 | +4.7% |
| Distributable reserves | 133 | €48,357 | €50,634 | +€2,277 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,318 | €48,799 | +€28,481 | +140% |
| Amounts payable after more than one year | 17 | €272 | €7,018 | +€6,746 | +2,482% |
| Financial debts | 170/4 | €272 | €7,018 | +€6,746 | +2,482% |
| Amounts payable within one year | 42/48 | €20,047 | €41,781 | +€21,734 | +108% |
| Current portion of amounts payable after more than one year | 42 | €1,586 | €2,667 | +€1,081 | +68.1% |
| Trade debts | 44 | €74 | €915 | +€841 | +1,129% |
| Suppliers | 440/4 | €74 | €915 | +€841 | +1,129% |
| Taxes, remuneration and social security | 45 | €9,299 | €5,981 | -€3,318 | -35.7% |
| Taxes | 450/3 | €9,299 | €5,981 | -€3,318 | -35.7% |
| Other amounts payable | 47/48 | €9,087 | €32,217 | +€23,130 | +255% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,909 | €7,793 | +€3,884 | +99.4% |
| Other operating charges | 640/8 | €645 | €616 | -€29 | -4.5% |
| Gross operating margin | 9900 | €17,530 | €57,760 | +€40,230 | +229% |
| Operating profit (loss) | 9901 | €12,977 | €49,351 | +€36,375 | +280% |
| Financial income | 75/76B | €76 | €144 | +€68 | +89.6% |
| Recurring financial income | 75 | €76 | €144 | +€68 | +89.6% |
| Financial charges | 65/66B | €524 | €632 | +€108 | +20.7% |
| Recurring financial charges | 65 | €524 | €632 | +€108 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | €12,529 | €48,864 | +€36,334 | +290% |
| Income taxes | 67/77 | €4,789 | €14,370 | +€9,581 | +200% |
| Profit (loss) for the period | 9904 | €7,740 | €34,494 | +€26,753 | +346% |
| Profit (loss) for the period to be appropriated | 9905 | €7,740 | €34,494 | +€26,753 | +346% |
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 22 October 2026 via checked.be.