ELENA CARP: 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.
ELENA CARP
Largest movements
- Current investments -€25,000
down €25,000 (-14.2%), from €176,200 to €151,200
- Cash +€18,273
up €18,273 (+34.9%), from €52,421 to €70,695
mainly Net result for the year (+€29,914) and Current investments (+€25,000)
- Receivables within one year +€2,712
up €2,712 (+673%), from €403 to €3,115
- Reserves -€5,361
down €5,361 (-2.2%), from €246,929 to €241,568
- Gross operating margin -€75,605
down €75,605 (-62.4%), from €121,210 to €45,605
- Taxes -€19,548
down €19,548 (-59.8%), from €32,702 to €13,154
- Financial charges -€2,851
down €2,851 (-97.4%), from €2,926 to €75
- Financial income +€2,268
up €2,268 (+647%), from €351 to €2,619
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 | €251,384 | €245,219 | -€6,164 | -2.5% |
| Fixed assets | 21/28 | €9,688 | €7,588 | -€2,100 | -21.7% |
| Tangible fixed assets | 22/27 | €9,688 | €7,588 | -€2,100 | -21.7% |
| Plant, machinery and equipment | 23 | €2,203 | €1,388 | -€815 | -37.0% |
| Furniture and vehicles | 24 | €7,485 | €6,200 | -€1,285 | -17.2% |
| Current assets | 29/58 | €241,695 | €237,631 | -€4,065 | -1.7% |
| Amounts receivable within one year | 40/41 | €403 | €3,115 | +€2,712 | +673% |
| Other amounts receivable | 41 | €403 | €3,115 | +€2,712 | +673% |
| Current investments | 50/53 | €176,200 | €151,200 | -€25,000 | -14.2% |
| Cash at bank and in hand | 54/58 | €52,421 | €70,695 | +€18,273 | +34.9% |
| Deferred charges and accrued income | 490/1 | €12,671 | €12,621 | -€50 | -0.4% |
| Total equity and liabilities | 10/49 | €251,384 | €245,219 | -€6,164 | -2.5% |
| Equity | 10/15 | €246,929 | €241,568 | -€5,361 | -2.2% |
| Reserves | 13 | €246,929 | €241,568 | -€5,361 | -2.2% |
| Distributable reserves | 133 | €246,929 | €241,568 | -€5,361 | -2.2% |
| Amounts payable | 17/49 | €4,454 | €3,651 | -€803 | -18.0% |
| Amounts payable within one year | 42/48 | €4,454 | €3,651 | -€803 | -18.0% |
| Taxes, remuneration and social security | 45 | €3,651 | €3,651 | = | 0.0% |
| Taxes | 450/3 | €3,651 | €3,651 | = | 0.0% |
| Other amounts payable | 47/48 | €803 | - | -€803 | |
| Non-recurring operating income | 76A | €65,230 | - | -€65,230 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,256 | €4,221 | -€34 | -0.8% |
| Other operating charges | 640/8 | €1,074 | €860 | -€214 | -19.9% |
| Gross operating margin | 9900 | €121,210 | €45,605 | -€75,605 | -62.4% |
| Operating profit (loss) | 9901 | €115,880 | €40,523 | -€75,357 | -65.0% |
| Financial income | 75/76B | €351 | €2,619 | +€2,268 | +647% |
| Recurring financial income | 75 | €351 | €2,619 | +€2,268 | +647% |
| Financial charges | 65/66B | €2,926 | €75 | -€2,851 | -97.4% |
| Recurring financial charges | 65 | €2,926 | €75 | -€2,851 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €113,305 | €43,067 | -€70,238 | -62.0% |
| Income taxes | 67/77 | €32,702 | €13,154 | -€19,548 | -59.8% |
| Profit (loss) for the period | 9904 | €80,603 | €29,914 | -€50,690 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €80,603 | €29,914 | -€50,690 | -62.9% |
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 26 October 2026 via checked.be.