ELEMOS: 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.
ELEMOS
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+35.0%), from €3.2m to €4.3m
of which Land and buildings: +€1.1m
- Current investments -€800,000
no longer reported in 2025 (was €800,000)
- Receivables within one year +€504,932
up €504,932 (+314.9%), from €160,336 to €665,269
of which Other amounts receivable: +€501,868
- Stocks and contracts -€294,879
down €294,879 (-99.8%), from €295,329 to €450
- Financial fixed assets +€125,000
new in 2025: €125,000
- Other debts +€1.2m
up €1.2m (+79.7%), from €1.6m to €2.8m
- Profit (loss) carried forward -€500,090
down €500,090 (-68.8%), from -€727,399 to -€1.2m
- Debts after one year -€72,344
down €72,344 (-16.6%), from €434,975 to €362,631
- Financial charges +€102,868
up €102,868 (+151.5%), from €67,909 to €170,778
of which Financial charges: +€105,868
- Gross operating margin -€69,403
down €69,403 (-76.2%), from €91,100 to €21,697
- Depreciation -€37,139
down €37,139 (-9.4%), from €394,731 to €357,593
- Financial income -€8,287
down €8,287 (-46.9%), from €17,661 to €9,375
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 | €4,501,049 | €5,178,713 | +€677,664 | +15.1% |
| Fixed assets | 21/28 | €3,200,339 | €4,446,013 | +€1.2m | +38.9% |
| Tangible fixed assets | 22/27 | €3,200,339 | €4,321,013 | +€1.1m | +35.0% |
| Land and buildings | 22 | €3,184,879 | €4,293,052 | +€1.1m | +34.8% |
| Plant, machinery and equipment | 23 | €579 | €19,721 | +€19,141 | +3304.3% |
| Furniture and vehicles | 24 | €14,117 | €8,125 | -€5,992 | -42.4% |
| Other tangible fixed assets | 26 | €763 | €115 | -€648 | -84.9% |
| Financial fixed assets | 28 | - | €125,000 | +€125,000 | |
| Current assets | 29/58 | €1,300,710 | €732,700 | -€568,010 | -43.7% |
| Stocks and contracts in progress | 3 | €295,329 | €450 | -€294,879 | -99.8% |
| Stocks | 30/36 | €295,329 | €450 | -€294,879 | -99.8% |
| Amounts receivable within one year | 40/41 | €160,336 | €665,269 | +€504,932 | +314.9% |
| Trade receivables | 40 | €447 | €3,511 | +€3,064 | +685.7% |
| Other amounts receivable | 41 | €159,890 | €661,758 | +€501,868 | +313.9% |
| Current investments | 50/53 | €800,000 | - | -€800,000 | |
| Cash at bank and in hand | 54/58 | €37,813 | €57,918 | +€20,105 | +53.2% |
| Deferred charges and accrued income | 490/1 | €7,232 | €9,063 | +€1,831 | +25.3% |
| Total equity and liabilities | 10/49 | €4,501,049 | €5,178,713 | +€677,664 | +15.1% |
| Equity | 10/15 | €2,131,385 | €1,617,413 | -€513,972 | -24.1% |
| Contributions | 10/11 | €2,551,577 | €2,551,577 | = | 0.0% |
| Reserves | 13 | €307,207 | €293,325 | -€13,882 | -4.5% |
| Tax-exempt reserves | 132 | €208,228 | €194,346 | -€13,882 | -6.7% |
| Distributable reserves | 133 | €98,979 | €98,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€727,399 | -€1,227,489 | -€500,090 | -68.8% |
| Provisions and deferred taxes | 16 | €69,409 | €64,782 | -€4,627 | -6.7% |
| Deferred taxes | 168 | €69,409 | €64,782 | -€4,627 | -6.7% |
| Amounts payable | 17/49 | €2,300,255 | €3,496,518 | +€1.2m | +52.0% |
| Amounts payable after more than one year | 17 | €434,975 | €362,631 | -€72,344 | -16.6% |
| Financial debts | 170/4 | €434,975 | €362,631 | -€72,344 | -16.6% |
| Amounts payable within one year | 42/48 | €1,863,928 | €3,133,887 | +€1.3m | +68.1% |
| Current portion of amounts payable after more than one year | 42 | €72,344 | €72,344 | = | 0.0% |
| Trade debts | 44 | €163,543 | €189,211 | +€25,668 | +15.7% |
| Suppliers | 440/4 | €163,543 | €189,211 | +€25,668 | +15.7% |
| Taxes, remuneration and social security | 45 | €73,247 | €77,964 | +€4,717 | +6.4% |
| Taxes | 450/3 | €73,247 | €77,964 | +€4,717 | +6.4% |
| Other amounts payable | 47/48 | €1,554,794 | €2,794,368 | +€1.2m | +79.7% |
| Accrued charges and deferred income | 492/3 | €1,352 | - | -€1,352 | |
| Non-recurring operating income | 76A | - | €39,614 | +€39,614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €394,731 | €357,593 | -€37,139 | -9.4% |
| Other operating charges | 640/8 | €21,350 | €21,036 | -€314 | -1.5% |
| Gross operating margin | 9900 | €91,100 | €21,697 | -€69,403 | -76.2% |
| Operating profit (loss) | 9901 | -€324,981 | -€356,932 | -€31,950 | -9.8% |
| Financial income | 75/76B | €17,661 | €9,375 | -€8,287 | -46.9% |
| Recurring financial income | 75 | €17,661 | €9,375 | -€8,287 | -46.9% |
| Financial charges | 65/66B | €67,909 | €170,778 | +€102,868 | +151.5% |
| Recurring financial charges | 65 | €64,909 | €170,778 | +€105,868 | +163.1% |
| Non-recurring financial charges | 66B | €3,000 | - | -€3,000 | |
| Profit (loss) for the period before taxes | 9903 | -€375,229 | -€518,335 | -€143,106 | -38.1% |
| Transfer from deferred taxes | 780 | - | €18,509 | +€18,509 | |
| Income taxes | 67/77 | €280 | €264 | -€16 | -5.6% |
| Profit (loss) for the period | 9904 | -€375,509 | -€500,090 | -€124,581 | -33.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€375,509 | -€500,090 | -€124,581 | -33.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.