ELEONOR: what changed
ELEONOR
Largest movements
- Intangible fixed assets +€97,775
up €97,775 (+45.6%), from €214,342 to €312,117
- Receivables within one year +€42,890
up €42,890 (+18.9%), from €227,456 to €270,346
of which Other amounts receivable: +€73,601
- Cash +€41,736
up €41,736 (+60.0%), from €69,506 to €111,242
mainly Contributions, distributions and other (+€499,758) and Depreciation (+€26,549)
- Stocks and contracts -€21,705
down €21,705 (-19.9%), from €108,902 to €87,197
- Contributions +€500,000
up €500,000 (+4,032%), from €12,400 to €512,400
- Profit (loss) carried forward -€328,807
down €328,807, from €130,728 to -€198,079
- Other debts -€12,443
down €12,443 (-4.8%), from €261,394 to €248,951
- Gross operating margin -€327,402
down €327,402, from €162,534 to -€164,868
- Financial charges +€34,818
up €34,818 (+210%), from €16,580 to €51,398
- Depreciation +€7,184
up €7,184 (+37.1%), from €19,365 to €26,549
- Financial income +€6,101
up €6,101 (+1,931%), from €316 to €6,417
- Staff costs +€2,323
up €2,323 (+2.6%), from €89,611 to €91,934
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €637,299 | €792,916 | +€155,617 | +24.4% |
| Fixed assets | 21/28 | €230,444 | €324,132 | +€93,688 | +40.7% |
| Intangible fixed assets | 21 | €214,342 | €312,117 | +€97,775 | +45.6% |
| Tangible fixed assets | 22/27 | €12,157 | €8,069 | -€4,088 | -33.6% |
| Plant, machinery and equipment | 23 | €3,507 | €2,065 | -€1,442 | -41.1% |
| Furniture and vehicles | 24 | €3,740 | €2,741 | -€999 | -26.7% |
| Other tangible fixed assets | 26 | €4,910 | €3,263 | -€1,647 | -33.5% |
| Financial fixed assets | 28 | €3,945 | €3,945 | = | 0.0% |
| Current assets | 29/58 | €406,855 | €468,785 | +€61,930 | +15.2% |
| Stocks and contracts in progress | 3 | €108,902 | €87,197 | -€21,705 | -19.9% |
| Stocks | 30/36 | €108,902 | €87,197 | -€21,705 | -19.9% |
| Amounts receivable within one year | 40/41 | €227,456 | €270,346 | +€42,890 | +18.9% |
| Trade receivables | 40 | €144,230 | €113,519 | -€30,711 | -21.3% |
| Other amounts receivable | 41 | €83,226 | €156,827 | +€73,601 | +88.4% |
| Cash at bank and in hand | 54/58 | €69,506 | €111,242 | +€41,736 | +60.0% |
| Deferred charges and accrued income | 490/1 | €991 | - | -€991 | |
| Total equity and liabilities | 10/49 | €637,299 | €792,916 | +€155,617 | +24.4% |
| Equity | 10/15 | €148,480 | €319,431 | +€170,951 | +115% |
| Contributions | 10/11 | €12,400 | €512,400 | +€500,000 | +4,032% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,728 | -€198,079 | -€328,807 | |
| Investment grants | 15 | €3,492 | €3,250 | -€242 | -6.9% |
| Amounts payable | 17/49 | €488,819 | €473,485 | -€15,334 | -3.1% |
| Amounts payable within one year | 42/48 | €488,819 | €473,485 | -€15,334 | -3.1% |
| Trade debts | 44 | €206,643 | €206,872 | +€229 | +0.1% |
| Suppliers | 440/4 | €206,643 | €206,872 | +€229 | +0.1% |
| Taxes, remuneration and social security | 45 | €20,782 | €17,662 | -€3,120 | -15.0% |
| Taxes | 450/3 | €809 | €536 | -€273 | -33.7% |
| Remuneration and social security | 454/9 | €19,973 | €17,126 | -€2,847 | -14.3% |
| Other amounts payable | 47/48 | €261,394 | €248,951 | -€12,443 | -4.8% |
| Remuneration, social security and pensions | 62 | €89,611 | €91,934 | +€2,323 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,365 | €26,549 | +€7,184 | +37.1% |
| Other operating charges | 640/8 | €387 | €475 | +€88 | +22.7% |
| Gross operating margin | 9900 | €162,534 | -€164,868 | -€327,402 | |
| Operating profit (loss) | 9901 | €53,171 | -€283,826 | -€336,997 | |
| Financial income | 75/76B | €316 | €6,417 | +€6,101 | +1,931% |
| Recurring financial income | 75 | €316 | €6,417 | +€6,101 | +1,931% |
| Financial charges | 65/66B | €16,580 | €51,398 | +€34,818 | +210% |
| Recurring financial charges | 65 | €16,580 | €51,398 | +€34,818 | +210% |
| Profit (loss) for the period before taxes | 9903 | €36,907 | -€328,807 | -€365,714 | |
| Profit (loss) for the period | 9904 | €36,907 | -€328,807 | -€365,714 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,907 | -€328,807 | -€365,714 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.