ELENI DECLERCQ: 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.
ELENI DECLERCQ
Largest movements
- Tangible fixed assets -€10,594
down €10,594 (-18.7%), from €56,533 to €45,939
of which Furniture and vehicles: -€11,912
- Receivables within one year -€8,058
down €8,058 (-35.8%), from €22,476 to €14,419
of which Trade receivables: -€7,941
- Reserves -€9,695
down €9,695 (-48.8%), from €19,868 to €10,173
- Debts after one year -€8,778
down €8,778 (-26.5%), from €33,150 to €24,371
- Tax, wage and social debts +€6,000
new in 2025: €6,000
- Other debts -€4,773
down €4,773 (-22.9%), from €20,830 to €16,057
- Depreciation +€6,734
up €6,734 (+110.1%), from €6,118 to €12,852
- Gross operating margin +€4,283
up €4,283 (+6.6%), from €64,590 to €68,873
- Staff costs +€3,760
up €3,760 (+37.8%), from €9,954 to €13,714
- Other operating charges -€1,519
down €1,519 (-55.7%), from €2,725 to €1,207
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 | €106,279 | €88,704 | -€17,575 | -16.5% |
| Fixed assets | 21/28 | €56,533 | €45,939 | -€10,594 | -18.7% |
| Tangible fixed assets | 22/27 | €56,533 | €45,939 | -€10,594 | -18.7% |
| Plant, machinery and equipment | 23 | €4,181 | €5,499 | +€1,318 | +31.5% |
| Furniture and vehicles | 24 | €52,352 | €40,440 | -€11,912 | -22.8% |
| Current assets | 29/58 | €49,746 | €42,766 | -€6,981 | -14.0% |
| Amounts receivable within one year | 40/41 | €22,476 | €14,419 | -€8,058 | -35.8% |
| Trade receivables | 40 | €19,122 | €11,182 | -€7,941 | -41.5% |
| Other amounts receivable | 41 | €3,354 | €3,237 | -€117 | -3.5% |
| Cash at bank and in hand | 54/58 | €21,792 | €21,946 | +€154 | +0.7% |
| Deferred charges and accrued income | 490/1 | €5,478 | €6,401 | +€923 | +16.8% |
| Total equity and liabilities | 10/49 | €106,279 | €88,704 | -€17,575 | -16.5% |
| Equity | 10/15 | €38,468 | €28,773 | -€9,695 | -25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,868 | €10,173 | -€9,695 | -48.8% |
| Distributable reserves | 133 | €19,868 | €10,173 | -€9,695 | -48.8% |
| Amounts payable | 17/49 | €67,811 | €59,932 | -€7,879 | -11.6% |
| Amounts payable after more than one year | 17 | €33,150 | €24,371 | -€8,778 | -26.5% |
| Financial debts | 170/4 | €33,150 | €24,371 | -€8,778 | -26.5% |
| Amounts payable within one year | 42/48 | €34,533 | €35,411 | +€878 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €8,434 | €8,778 | +€344 | +4.1% |
| Trade debts | 44 | €5,269 | €4,575 | -€693 | -13.2% |
| Suppliers | 440/4 | €5,269 | €4,575 | -€693 | -13.2% |
| Taxes, remuneration and social security | 45 | - | €6,000 | +€6,000 | |
| Taxes | 450/3 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €20,830 | €16,057 | -€4,773 | -22.9% |
| Accrued charges and deferred income | 492/3 | €128 | €149 | +€21 | +16.2% |
| Non-recurring operating income | 76A | €14,390 | - | -€14,390 | |
| Remuneration, social security and pensions | 62 | €9,954 | €13,714 | +€3,760 | +37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,118 | €12,852 | +€6,734 | +110.1% |
| Other operating charges | 640/8 | €2,725 | €1,207 | -€1,519 | -55.7% |
| Gross operating margin | 9900 | €64,590 | €68,873 | +€4,283 | +6.6% |
| Operating profit (loss) | 9901 | €45,793 | €41,100 | -€4,693 | -10.2% |
| Financial income | 75/76B | €73 | €65 | -€7 | -10.2% |
| Recurring financial income | 75 | €73 | €65 | -€7 | -10.2% |
| Financial charges | 65/66B | €901 | €1,558 | +€657 | +72.9% |
| Recurring financial charges | 65 | €901 | €1,558 | +€657 | +72.9% |
| Profit (loss) for the period before taxes | 9903 | €44,965 | €39,608 | -€5,357 | -11.9% |
| Income taxes | 67/77 | €9,725 | €9,303 | -€422 | -4.3% |
| Profit (loss) for the period | 9904 | €35,240 | €30,305 | -€4,935 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,240 | €30,305 | -€4,935 | -14.0% |
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 11 October 2026 via checked.be.