ELESCO: 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.
ELESCO
Largest movements
- Receivables within one year +€69,404
up €69,404 (+10.8%), from €643,099 to €712,503
- Tangible fixed assets -€30,895
down €30,895 (-2.3%), from €1.3m to €1.3m
of which Land and buildings: -€29,077
- Reserves +€33,964
up €33,964 (+2.7%), from €1.2m to €1.3m
of which Distributable reserves: +€47,655
- Gross operating margin +€12,212
up €12,212 (+15.4%), from €79,236 to €91,448
- Financial income -€10,916
down €10,916 (-61.0%), from €17,881 to €6,965
- Other operating charges -€3,405
down €3,405 (-41.6%), from €8,182 to €4,777
- Depreciation +€2,384
up €2,384 (+6.5%), from €36,645 to €39,030
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 | €1,987,401 | €2,028,493 | +€41,092 | +2.1% |
| Fixed assets | 21/28 | €1,314,981 | €1,284,087 | -€30,895 | -2.3% |
| Tangible fixed assets | 22/27 | €1,314,796 | €1,283,901 | -€30,895 | -2.3% |
| Land and buildings | 22 | €1,307,717 | €1,278,641 | -€29,077 | -2.2% |
| Furniture and vehicles | 24 | €7,078 | €5,260 | -€1,818 | -25.7% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €672,420 | €744,407 | +€71,987 | +10.7% |
| Amounts receivable within one year | 40/41 | €643,099 | €712,503 | +€69,404 | +10.8% |
| Other amounts receivable | 41 | €643,099 | €712,503 | +€69,404 | +10.8% |
| Cash at bank and in hand | 54/58 | €24,450 | €27,730 | +€3,280 | +13.4% |
| Deferred charges and accrued income | 490/1 | €4,870 | €4,174 | -€697 | -14.3% |
| Total equity and liabilities | 10/49 | €1,987,401 | €2,028,493 | +€41,092 | +2.1% |
| Equity | 10/15 | €1,826,226 | €1,860,190 | +€33,964 | +1.9% |
| Contributions | 10/11 | €471,089 | €471,089 | = | 0.0% |
| Reserves | 13 | €1,237,767 | €1,271,731 | +€33,964 | +2.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €145,638 | €131,946 | -€13,691 | -9.4% |
| Distributable reserves | 133 | €1,092,129 | €1,139,784 | +€47,655 | +4.4% |
| Profit (loss) carried forward | 14 | €117,371 | €117,371 | = | 0.0% |
| Provisions and deferred taxes | 16 | €65,887 | €61,324 | -€4,564 | -6.9% |
| Deferred taxes | 168 | €65,887 | €61,324 | -€4,564 | -6.9% |
| Amounts payable | 17/49 | €95,288 | €106,980 | +€11,692 | +12.3% |
| Amounts payable within one year | 42/48 | €90,756 | €101,656 | +€10,900 | +12.0% |
| Trade debts | 44 | €22,920 | €19,232 | -€3,689 | -16.1% |
| Suppliers | 440/4 | €22,920 | €19,232 | -€3,689 | -16.1% |
| Taxes, remuneration and social security | 45 | €19,352 | €21,820 | +€2,468 | +12.8% |
| Taxes | 450/3 | €19,352 | €21,820 | +€2,468 | +12.8% |
| Other amounts payable | 47/48 | €48,484 | €60,604 | +€12,121 | +25.0% |
| Accrued charges and deferred income | 492/3 | €4,532 | €5,323 | +€792 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,645 | €39,030 | +€2,384 | +6.5% |
| Other operating charges | 640/8 | €8,182 | €4,777 | -€3,405 | -41.6% |
| Gross operating margin | 9900 | €79,236 | €91,448 | +€12,212 | +15.4% |
| Operating profit (loss) | 9901 | €34,409 | €47,642 | +€13,233 | +38.5% |
| Financial income | 75/76B | €17,881 | €6,965 | -€10,916 | -61.0% |
| Recurring financial income | 75 | €17,881 | €6,965 | -€10,916 | -61.0% |
| Financial charges | 65/66B | €3,917 | €4,719 | +€802 | +20.5% |
| Recurring financial charges | 65 | €3,917 | €4,719 | +€802 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €48,373 | €49,888 | +€1,515 | +3.1% |
| Transfer from deferred taxes | 780 | €4,564 | €4,564 | = | 0.0% |
| Income taxes | 67/77 | €18,049 | €18,822 | +€773 | +4.3% |
| Profit (loss) for the period | 9904 | €34,888 | €35,630 | +€742 | +2.1% |
| Transfer from tax-exempt reserves | 789 | €13,691 | €13,691 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,579 | €49,321 | +€742 | +1.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.