Elenel: 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.
Elenel
Largest movements
- Cash -€49,004
down €49,004 (-72.9%), from €67,222 to €18,219
mainly Debts after one year (-€127,050) and Receivables within one year (-€37,731)
- Receivables within one year +€37,731
up €37,731 (+40.6%), from €93,010 to €130,740
of which Trade receivables: +€36,724
- Reserves +€134,832
up €134,832 (+93.1%), from €144,858 to €279,690
- Debts after one year -€127,050
down €127,050 (-21.5%), from €591,204 to €464,154
of which Financial debts: -€85,050
- Tax, wage and social debts -€26,322
down €26,322 (-63.3%), from €41,610 to €15,287
of which Taxes: -€28,872
- Gross operating margin -€57,269
down €57,269 (-26.3%), from €217,542 to €160,273
- Financial income +€38,800
new in 2025: €38,800
- Taxes -€14,774
down €14,774 (-30.3%), from €48,707 to €33,934
- Financial charges +€5,481
up €5,481 (+28.9%), from €18,942 to €24,423
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 | €933,731 | €917,826 | -€15,904 | -1.7% |
| Fixed assets | 21/28 | €773,499 | €768,868 | -€4,631 | -0.6% |
| Tangible fixed assets | 22/27 | €18,905 | €14,274 | -€4,631 | -24.5% |
| Furniture and vehicles | 24 | €18,905 | €14,274 | -€4,631 | -24.5% |
| Financial fixed assets | 28 | €754,594 | €754,594 | = | 0.0% |
| Current assets | 29/58 | €160,232 | €148,959 | -€11,273 | -7.0% |
| Amounts receivable within one year | 40/41 | €93,010 | €130,740 | +€37,731 | +40.6% |
| Trade receivables | 40 | €93,010 | €129,734 | +€36,724 | +39.5% |
| Other amounts receivable | 41 | - | €1,007 | +€1,007 | |
| Cash at bank and in hand | 54/58 | €67,222 | €18,219 | -€49,004 | -72.9% |
| Total equity and liabilities | 10/49 | €933,731 | €917,826 | -€15,904 | -1.7% |
| Equity | 10/15 | €149,858 | €284,690 | +€134,832 | +90.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €144,858 | €279,690 | +€134,832 | +93.1% |
| Distributable reserves | 133 | €144,858 | €279,690 | +€134,832 | +93.1% |
| Amounts payable | 17/49 | €783,873 | €633,136 | -€150,737 | -19.2% |
| Amounts payable after more than one year | 17 | €591,204 | €464,154 | -€127,050 | -21.5% |
| Financial debts | 170/4 | €454,619 | €369,570 | -€85,050 | -18.7% |
| Other amounts payable | 178/9 | €136,584 | €94,584 | -€42,000 | -30.8% |
| Amounts payable within one year | 42/48 | €188,329 | €163,062 | -€25,267 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €125,308 | €127,050 | +€1,741 | +1.4% |
| Trade debts | 44 | €581 | €283 | -€299 | -51.4% |
| Suppliers | 440/4 | €581 | €283 | -€299 | -51.4% |
| Taxes, remuneration and social security | 45 | €41,610 | €15,287 | -€26,322 | -63.3% |
| Taxes | 450/3 | €37,810 | €8,937 | -€28,872 | -76.4% |
| Remuneration and social security | 454/9 | €3,800 | €6,350 | +€2,550 | +67.1% |
| Other amounts payable | 47/48 | €20,830 | €20,443 | -€387 | -1.9% |
| Accrued charges and deferred income | 492/3 | €4,340 | €5,920 | +€1,580 | +36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,250 | €4,631 | +€381 | +9.0% |
| Other operating charges | 640/8 | €785 | €1,253 | +€468 | +59.7% |
| Gross operating margin | 9900 | €217,542 | €160,273 | -€57,269 | -26.3% |
| Operating profit (loss) | 9901 | €212,507 | €154,389 | -€58,118 | -27.3% |
| Financial income | 75/76B | - | €38,800 | +€38,800 | |
| Recurring financial income | 75 | - | €38,800 | +€38,800 | |
| Financial charges | 65/66B | €18,942 | €24,423 | +€5,481 | +28.9% |
| Recurring financial charges | 65 | €18,942 | €24,423 | +€5,481 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | €193,565 | €168,766 | -€24,799 | -12.8% |
| Income taxes | 67/77 | €48,707 | €33,934 | -€14,774 | -30.3% |
| Profit (loss) for the period | 9904 | €144,858 | €134,832 | -€10,025 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €144,858 | €134,832 | -€10,025 | -6.9% |
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 12 October 2026 via checked.be.