Elements Projects: 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.
Elements Projects
Largest movements
- Receivables within one year -€1.7m
down €1.7m (-92.5%), from €1.8m to €136,114
of which Trade receivables: -€1.6m
- Stocks and contracts +€929,413
up €929,413 (+11.8%), from €7.9m to €8.8m
- Trade debts -€2.4m
down €2.4m (-98.6%), from €2.5m to €33,571
- Advances received +€1.7m
up €1.7m (+28.5%), from €5.8m to €7.4m
- Financial charges -€15,278
down €15,278 (-26.8%), from €56,923 to €41,645
- Gross operating margin +€6,682
up €6,682 (+84.1%), from -€7,949 to -€1,267
- Financial income -€1,763
down €1,763 (-82.7%), from €2,131 to €368
- Depreciation -€894
down €894 (-100.0%), from €894 to €0
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 | €10,916,419 | €10,104,723 | -€811,696 | -7.4% |
| Fixed assets | 21/28 | €1,025,000 | €1,025,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,025,000 | €1,025,000 | = | 0.0% |
| Current assets | 29/58 | €9,891,419 | €9,079,723 | -€811,696 | -8.2% |
| Stocks and contracts in progress | 3 | €7,897,462 | €8,826,876 | +€929,413 | +11.8% |
| Stocks | 30/36 | €7,897,462 | €8,826,876 | +€929,413 | +11.8% |
| Amounts receivable within one year | 40/41 | €1,820,174 | €136,114 | -€1.7m | -92.5% |
| Trade receivables | 40 | €1,743,357 | €124,360 | -€1.6m | -92.9% |
| Other amounts receivable | 41 | €76,817 | €11,753 | -€65,064 | -84.7% |
| Cash at bank and in hand | 54/58 | €173,782 | €116,734 | -€57,048 | -32.8% |
| Total equity and liabilities | 10/49 | €10,916,419 | €10,104,723 | -€811,696 | -7.4% |
| Equity | 10/15 | -€234,168 | -€277,745 | -€43,577 | -18.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,201 | €14,201 | = | 0.0% |
| Distributable reserves | 133 | €14,201 | €14,201 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€266,969 | -€310,546 | -€43,577 | -16.3% |
| Amounts payable | 17/49 | €11,150,587 | €10,382,468 | -€768,118 | -6.9% |
| Amounts payable within one year | 42/48 | €11,150,587 | €10,382,468 | -€768,118 | -6.9% |
| Financial debts | 43 | €750,000 | €700,000 | -€50,000 | -6.7% |
| Other loans | 439 | €750,000 | €700,000 | -€50,000 | -6.7% |
| Trade debts | 44 | €2,480,176 | €33,571 | -€2.4m | -98.6% |
| Suppliers | 440/4 | €2,480,176 | €33,571 | -€2.4m | -98.6% |
| Advances received on contracts in progress | 46 | €5,784,801 | €7,434,978 | +€1.7m | +28.5% |
| Other amounts payable | 47/48 | €2,135,609 | €2,213,919 | +€78,310 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €894 | €0 | -€894 | -100.0% |
| Other operating charges | 640/8 | €1,034 | €1,033 | -€0 | 0.0% |
| Gross operating margin | 9900 | -€7,949 | -€1,267 | +€6,682 | +84.1% |
| Operating profit (loss) | 9901 | -€9,877 | -€2,300 | +€7,577 | +76.7% |
| Financial income | 75/76B | €2,131 | €368 | -€1,763 | -82.7% |
| Recurring financial income | 75 | €2,131 | €368 | -€1,763 | -82.7% |
| Financial charges | 65/66B | €56,923 | €41,645 | -€15,278 | -26.8% |
| Recurring financial charges | 65 | €56,923 | €41,645 | -€15,278 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | -€64,669 | -€43,577 | +€21,092 | +32.6% |
| Profit (loss) for the period | 9904 | -€64,669 | -€43,577 | +€21,092 | +32.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,669 | -€43,577 | +€21,092 | +32.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.