ELENE: 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.
ELENE
Largest movements
- Tangible fixed assets +€950,866
up €950,866 (+114.9%), from €827,566 to €1.8m
of which Land and buildings: +€933,355
- Deferred charges and accrued income +€24,000
new in 2025: €24,000
- Revaluation surpluses +€955,000
new in 2025: €955,000
- Debts after one year -€19,561
down €19,561 (-9.7%), from €202,213 to €182,652
of which Financial debts: -€20,031
- Gross operating margin +€27,169
up €27,169 (+87.9%), from €30,893 to €58,061
- Taxes +€9,351
new in 2025: €9,351
- Other operating charges -€1,797
down €1,797 (-35.0%), from €5,126 to €3,330
- Depreciation -€1,204
down €1,204 (-5.3%), from €22,849 to €21,645
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 | €843,785 | €1,811,085 | +€967,300 | +114.6% |
| Fixed assets | 21/28 | €830,566 | €1,781,432 | +€950,866 | +114.5% |
| Tangible fixed assets | 22/27 | €827,566 | €1,778,432 | +€950,866 | +114.9% |
| Land and buildings | 22 | €760,250 | €1,693,605 | +€933,355 | +122.8% |
| Other tangible fixed assets | 26 | €67,317 | €84,828 | +€17,511 | +26.0% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €13,218 | €29,653 | +€16,435 | +124.3% |
| Amounts receivable within one year | 40/41 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €13,218 | €653 | -€12,565 | -95.1% |
| Deferred charges and accrued income | 490/1 | - | €24,000 | +€24,000 | |
| Total equity and liabilities | 10/49 | €843,785 | €1,811,085 | +€967,300 | +114.6% |
| Equity | 10/15 | €616,775 | €1,594,052 | +€977,276 | +158.4% |
| Contributions | 10/11 | €558,000 | €558,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €955,000 | +€955,000 | |
| Reserves | 13 | €19,837 | €34,837 | +€15,000 | +75.6% |
| Non-distributable reserves | 130/1 | €4,837 | €4,837 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,837 | €4,837 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €30,000 | +€15,000 | +100.0% |
| Profit (loss) carried forward | 14 | €38,938 | €46,215 | +€7,276 | +18.7% |
| Amounts payable | 17/49 | €227,010 | €217,034 | -€9,976 | -4.4% |
| Amounts payable after more than one year | 17 | €202,213 | €182,652 | -€19,561 | -9.7% |
| Financial debts | 170/4 | €195,493 | €175,462 | -€20,031 | -10.2% |
| Other amounts payable | 178/9 | €6,720 | €7,190 | +€470 | +7.0% |
| Amounts payable within one year | 42/48 | €24,796 | €34,382 | +€9,585 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €24,796 | €25,031 | +€235 | +0.9% |
| Taxes, remuneration and social security | 45 | - | €9,351 | +€9,351 | |
| Taxes | 450/3 | - | €9,351 | +€9,351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,849 | €21,645 | -€1,204 | -5.3% |
| Other operating charges | 640/8 | €5,126 | €3,330 | -€1,797 | -35.0% |
| Gross operating margin | 9900 | €30,893 | €58,061 | +€27,169 | +87.9% |
| Operating profit (loss) | 9901 | €2,917 | €33,086 | +€30,169 | +1034.1% |
| Financial charges | 65/66B | €1,649 | €1,459 | -€189 | -11.5% |
| Recurring financial charges | 65 | €1,649 | €1,459 | -€189 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €1,269 | €31,627 | +€30,358 | +2392.9% |
| Income taxes | 67/77 | - | €9,351 | +€9,351 | |
| Profit (loss) for the period | 9904 | €1,269 | €22,276 | +€21,008 | +1655.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,269 | €22,276 | +€21,008 | +1655.9% |
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 2 October 2026 via checked.be.