ELEMGA: 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.
ELEMGA
Largest movements
- Receivables after one year -€946,070
no longer reported in 2025 (was €946,070)
- Financial fixed assets +€637,511
new in 2025: €637,511
- Tangible fixed assets +€17,393
up €17,393 (+190.2%), from €9,144 to €26,537
of which Furniture and vehicles: +€12,556
- Intangible fixed assets -€17,000
down €17,000 (-22.2%), from €76,500 to €59,500
- Receivables within one year -€15,667
down €15,667 (-30.2%), from €51,937 to €36,269
of which Other amounts receivable: -€18,773
- Other debts -€454,285
down €454,285 (-47.2%), from €961,579 to €507,294
- Current portion of long-term debt +€58,473
new in 2025: €58,473
- Reserves +€51,822
up €51,822 (+50.1%), from €103,347 to €155,169
- Gross operating margin +€60,477
up €60,477 (+102.5%), from €58,981 to €119,458
- Write-downs +€39,000
new in 2025: €39,000
- Taxes +€2,285
up €2,285 (+12.9%), from €17,768 to €20,053
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 | €1,107,197 | €773,651 | -€333,546 | -30.1% |
| Fixed assets | 21/28 | €85,644 | €723,548 | +€637,905 | +744.8% |
| Intangible fixed assets | 21 | €76,500 | €59,500 | -€17,000 | -22.2% |
| Tangible fixed assets | 22/27 | €9,144 | €26,537 | +€17,393 | +190.2% |
| Land and buildings | 22 | €4,820 | €4,655 | -€164 | -3.4% |
| Furniture and vehicles | 24 | - | €12,556 | +€12,556 | |
| Other tangible fixed assets | 26 | €4,324 | €9,325 | +€5,001 | +115.7% |
| Financial fixed assets | 28 | - | €637,511 | +€637,511 | |
| Current assets | 29/58 | €1,021,553 | €50,103 | -€971,450 | -95.1% |
| Amounts receivable after more than one year | 29 | €946,070 | - | -€946,070 | |
| Other amounts receivable | 291 | €946,070 | - | -€946,070 | |
| Amounts receivable within one year | 40/41 | €51,937 | €36,269 | -€15,667 | -30.2% |
| Trade receivables | 40 | €22,834 | €25,939 | +€3,106 | +13.6% |
| Other amounts receivable | 41 | €29,103 | €10,330 | -€18,773 | -64.5% |
| Cash at bank and in hand | 54/58 | €21,675 | €11,672 | -€10,003 | -46.1% |
| Deferred charges and accrued income | 490/1 | €1,872 | €2,161 | +€290 | +15.5% |
| Total equity and liabilities | 10/49 | €1,107,197 | €773,651 | -€333,546 | -30.1% |
| Equity | 10/15 | €113,347 | €165,169 | +€51,822 | +45.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €103,347 | €155,169 | +€51,822 | +50.1% |
| Distributable reserves | 133 | €103,347 | €155,169 | +€51,822 | +50.1% |
| Amounts payable | 17/49 | €993,850 | €608,482 | -€385,368 | -38.8% |
| Amounts payable after more than one year | 17 | - | €10,111 | +€10,111 | |
| Financial debts | 170/4 | - | €10,111 | +€10,111 | |
| Amounts payable within one year | 42/48 | €993,850 | €598,371 | -€395,479 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | - | €58,473 | +€58,473 | |
| Trade debts | 44 | €1,871 | €5,675 | +€3,804 | +203.3% |
| Suppliers | 440/4 | €1,871 | €5,675 | +€3,804 | +203.3% |
| Taxes, remuneration and social security | 45 | €30,400 | €26,928 | -€3,472 | -11.4% |
| Taxes | 450/3 | €30,400 | €26,928 | -€3,472 | -11.4% |
| Other amounts payable | 47/48 | €961,579 | €507,294 | -€454,285 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,073 | €19,918 | +€845 | +4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €39,000 | +€39,000 | |
| Other operating charges | 640/8 | €502 | €716 | +€214 | +42.5% |
| Gross operating margin | 9900 | €58,981 | €119,458 | +€60,477 | +102.5% |
| Operating profit (loss) | 9901 | €39,406 | €59,824 | +€20,419 | +51.8% |
| Financial income | 75/76B | €13,403 | €12,396 | -€1,007 | -7.5% |
| Recurring financial income | 75 | €13,403 | €12,396 | -€1,007 | -7.5% |
| Financial charges | 65/66B | €989 | €346 | -€643 | -65.0% |
| Recurring financial charges | 65 | €989 | €346 | -€643 | -65.0% |
| Profit (loss) for the period before taxes | 9903 | €51,820 | €71,875 | +€20,055 | +38.7% |
| Income taxes | 67/77 | €17,768 | €20,053 | +€2,285 | +12.9% |
| Profit (loss) for the period | 9904 | €34,052 | €51,822 | +€17,770 | +52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,052 | €51,822 | +€17,770 | +52.2% |
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 4 October 2026 via checked.be.