ELENCO: 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.
What changed
ELENCO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€95,048
2024 · €243,768-€148,720
Equity
€855,215
2024 · €860,166-€4,952
Cash
€105,181
2024 · €152,706-€47,524
Balance sheet total
€1.4m
2024 · €1.5m-€93,757
Largest movements
Assets
- Cash -€47,524
down €47,524 (-31.1%), from €152,706 to €105,181
mainly Tax, wage and social debts (-€125,215) and Contributions, distributions and other (-€100,000)
- Stocks and contracts -€28,406
down €28,406 (-5.6%), from €509,815 to €481,410
of which Stocks: -€14,606
- Tangible fixed assets -€27,217
down €27,217 (-20.1%), from €135,135 to €107,919
of which Furniture and vehicles: -€20,625
Equity and liabilities
- Tax, wage and social debts -€125,215
down €125,215 (-49.0%), from €255,694 to €130,479
of which Taxes: -€118,572
- Short-term financial debts +€35,183
new in 2025: €35,183
- Advances received +€25,740
up €25,740 (+34.4%), from €74,760 to €100,500
- Trade debts -€15,438
down €15,438 (-5.9%), from €262,549 to €247,111
Income statement
- Gross operating margin -€176,135
down €176,135 (-16.3%), from €1.1m to €903,852
- Taxes -€57,859
down €57,859 (-52.2%), from €110,863 to €53,005
- Staff costs +€49,319
up €49,319 (+7.6%), from €650,637 to €699,956
- Write-downs -€25,264
down €25,264, from €15,011 to -€10,254
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.
Result 2024
€243,768
Gross operating margin
-€176,135
Staff costs
-€49,319
Depreciation
-€4,673
Write-downs
+€25,264
Other operating charges
+€39
Financial income
-€902
Financial charges
-€853
Taxes
+€57,859
Result 2025
€95,048
raises the resultlowers the result
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.
From operations
+€56,667
Investment
-€30,298
Financing
-€73,893
Cash 2024
€152,706
From operations (derived)
+€56,667
Net result for the year
+€95,048
Depreciation
+€53,965
Receivables after one year
-€4,000
Stocks and contracts
+€28,406
Receivables within one year
+€9,470
Deferred charges and accrued income
-€11,310
Trade debts
-€15,438
Tax, wage and social debts
-€125,215
Advances received
+€25,740
Investment (derived)
-€30,298
Investment in fixed assets (net)
-€26,748
Current investments
-€3,550
Financing
-€73,893
Debts after one year
-€3,526
Current portion of long-term debt
-€5,550
Short-term financial debts
+€35,183
Contributions, distributions and other
-€100,000
Cash 2025
€105,181
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,465,771 | €1,372,014 | -€93,757 | -6.4% |
| Fixed assets | 21/28 | €135,135 | €107,919 | -€27,217 | -20.1% |
| Tangible fixed assets | 22/27 | €135,135 | €107,919 | -€27,217 | -20.1% |
| Plant, machinery and equipment | 23 | €32,628 | €33,696 | +€1,068 | +3.3% |
| Furniture and vehicles | 24 | €52,230 | €31,604 | -€20,625 | -39.5% |
| Leasing and similar rights | 25 | €6,338 | €3,165 | -€3,174 | -50.1% |
| Other tangible fixed assets | 26 | €43,939 | €39,453 | -€4,486 | -10.2% |
| Current assets | 29/58 | €1,330,636 | €1,264,095 | -€66,541 | -5.0% |
| Amounts receivable after more than one year | 29 | €41,000 | €45,000 | +€4,000 | +9.8% |
| Other amounts receivable | 291 | €41,000 | €45,000 | +€4,000 | +9.8% |
| Stocks and contracts in progress | 3 | €509,815 | €481,410 | -€28,406 | -5.6% |
| Stocks | 30/36 | €128,515 | €113,910 | -€14,606 | -11.4% |
| Contracts in progress | 37 | €381,300 | €367,500 | -€13,800 | -3.6% |
| Amounts receivable within one year | 40/41 | €588,918 | €579,448 | -€9,470 | -1.6% |
| Trade receivables | 40 | €583,953 | €569,094 | -€14,859 | -2.5% |
| Other amounts receivable | 41 | €4,966 | €10,354 | +€5,388 | +109% |
| Current investments | 50/53 | €13,800 | €17,350 | +€3,550 | +25.7% |
| Cash at bank and in hand | 54/58 | €152,706 | €105,181 | -€47,524 | -31.1% |
| Deferred charges and accrued income | 490/1 | €24,397 | €35,707 | +€11,310 | +46.4% |
| Total equity and liabilities | 10/49 | €1,465,771 | €1,372,014 | -€93,757 | -6.4% |
| Equity | 10/15 | €860,166 | €855,215 | -€4,952 | -0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €816,734 | €811,783 | -€4,952 | -0.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €52,625 | €52,625 | = | 0.0% |
| Distributable reserves | 133 | €764,109 | €759,158 | -€4,952 | -0.6% |
| Profit (loss) carried forward | 14 | €31,032 | €31,032 | = | 0.0% |
| Amounts payable | 17/49 | €605,605 | €516,799 | -€88,806 | -14.7% |
| Amounts payable after more than one year | 17 | €3,526 | €0 | -€3,526 | -100% |
| Financial debts | 170/4 | €3,526 | €0 | -€3,526 | -100% |
| Amounts payable within one year | 42/48 | €602,079 | €516,799 | -€85,280 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €9,076 | €3,526 | -€5,550 | -61.2% |
| Financial debts | 43 | - | €35,183 | +€35,183 | |
| Credit institutions | 430/8 | - | €35,183 | +€35,183 | |
| Trade debts | 44 | €262,549 | €247,111 | -€15,438 | -5.9% |
| Suppliers | 440/4 | €262,549 | €247,111 | -€15,438 | -5.9% |
| Advances received on contracts in progress | 46 | €74,760 | €100,500 | +€25,740 | +34.4% |
| Taxes, remuneration and social security | 45 | €255,694 | €130,479 | -€125,215 | -49.0% |
| Taxes | 450/3 | €157,905 | €39,333 | -€118,572 | -75.1% |
| Remuneration and social security | 454/9 | €97,789 | €91,146 | -€6,643 | -6.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €650,637 | €699,956 | +€49,319 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,292 | €53,965 | +€4,673 | +9.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,011 | -€10,254 | -€25,264 | |
| Other operating charges | 640/8 | €4,335 | €4,296 | -€39 | -0.9% |
| Gross operating margin | 9900 | €1,079,988 | €903,852 | -€176,135 | -16.3% |
| Operating profit (loss) | 9901 | €360,713 | €155,889 | -€204,824 | -56.8% |
| Financial income | 75/76B | €2,876 | €1,974 | -€902 | -31.4% |
| Recurring financial income | 75 | €2,876 | €1,974 | -€902 | -31.4% |
| Financial charges | 65/66B | €8,957 | €9,809 | +€853 | +9.5% |
| Recurring financial charges | 65 | €8,957 | €9,809 | +€853 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €354,632 | €148,053 | -€206,579 | -58.3% |
| Income taxes | 67/77 | €110,863 | €53,005 | -€57,859 | -52.2% |
| Profit (loss) for the period | 9904 | €243,768 | €95,048 | -€148,720 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €243,768 | €95,048 | -€148,720 | -61.0% |
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 14 October 2026 via checked.be.