ELENEX: 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.
ELENEX
Largest movements
- Receivables within one year +€42,350
new in 2025: €42,350
- Cash -€7,209
down €7,209 (-42.9%), from €16,801 to €9,592
mainly Receivables within one year (-€42,350) and Current portion of long-term debt (-€33,333)
- Reserves +€41,255
up €41,255 (+13.6%), from €303,076 to €344,331
- Current portion of long-term debt -€33,333
no longer reported in 2025 (was €33,333)
- Other debts +€18,334
up €18,334 (+57.4%), from €31,966 to €50,300
- Tax, wage and social debts +€9,041
up €9,041 (+60.0%), from €15,071 to €24,113
- Gross operating margin -€8,758
down €8,758 (-12.6%), from €69,275 to €60,517
- Taxes +€2,803
up €2,803 (+19.9%), from €14,105 to €16,908
- Financial charges -€1,806
down €1,806 (-52.1%), from €3,468 to €1,662
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 | €416,801 | €451,942 | +€35,141 | +8.4% |
| Fixed assets | 21/28 | €400,000 | €400,000 | = | 0.0% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €16,801 | €51,942 | +€35,141 | +209.2% |
| Amounts receivable within one year | 40/41 | - | €42,350 | +€42,350 | |
| Trade receivables | 40 | - | €42,350 | +€42,350 | |
| Cash at bank and in hand | 54/58 | €16,801 | €9,592 | -€7,209 | -42.9% |
| Total equity and liabilities | 10/49 | €416,801 | €451,942 | +€35,141 | +8.4% |
| Equity | 10/15 | €333,076 | €374,331 | +€41,255 | +12.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €303,076 | €344,331 | +€41,255 | +13.6% |
| Distributable reserves | 133 | €303,076 | €344,331 | +€41,255 | +13.6% |
| Amounts payable | 17/49 | €83,724 | €77,611 | -€6,113 | -7.3% |
| Amounts payable within one year | 42/48 | €81,762 | €76,895 | -€4,867 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €33,333 | - | -€33,333 | |
| Trade debts | 44 | €1,392 | €2,482 | +€1,090 | +78.4% |
| Suppliers | 440/4 | €1,392 | €2,482 | +€1,090 | +78.4% |
| Taxes, remuneration and social security | 45 | €15,071 | €24,113 | +€9,041 | +60.0% |
| Taxes | 450/3 | €15,071 | €24,113 | +€9,041 | +60.0% |
| Other amounts payable | 47/48 | €31,966 | €50,300 | +€18,334 | +57.4% |
| Accrued charges and deferred income | 492/3 | €1,963 | €716 | -€1,247 | -63.5% |
| Other operating charges | 640/8 | €651 | €692 | +€41 | +6.3% |
| Gross operating margin | 9900 | €69,275 | €60,517 | -€8,758 | -12.6% |
| Operating profit (loss) | 9901 | €68,623 | €59,824 | -€8,799 | -12.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,468 | €1,662 | -€1,806 | -52.1% |
| Recurring financial charges | 65 | €3,468 | €1,662 | -€1,806 | -52.1% |
| Profit (loss) for the period before taxes | 9903 | €65,156 | €58,163 | -€6,993 | -10.7% |
| Income taxes | 67/77 | €14,105 | €16,908 | +€2,803 | +19.9% |
| Profit (loss) for the period | 9904 | €51,051 | €41,255 | -€9,796 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €51,051 | €41,255 | -€9,796 | -19.2% |
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 8 October 2026 via checked.be.