ELESI: 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.
ELESI
Largest movements
- Cash -€35,939
down €35,939 (-31.5%), from €113,979 to €78,040
mainly Receivables within one year (-€27,101) and Net result for the year (-€23,561)
- Receivables within one year +€27,101
up €27,101 (+75.0%), from €36,151 to €63,252
of which Trade receivables: +€17,312
- Tangible fixed assets -€12,460
down €12,460 (-21.9%), from €57,025 to €44,565
of which Furniture and vehicles: -€11,657
- Profit (loss) carried forward -€23,561
down €23,561 (-71.1%), from -€33,118 to -€56,679
- Trade debts +€2,138
up €2,138 (+533.0%), from €401 to €2,540
- Gross operating margin -€15,548
down €15,548, from €5,930 to -€9,618
- Depreciation +€3,455
up €3,455 (+38.4%), from €9,005 to €12,460
- Financial charges +€371
up €371 (+576.7%), from €64 to €436
- Financial income +€198
up €198 (+129.4%), from €153 to €351
- Taxes +€176
up €176 (+80.1%), from €220 to €396
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 | €208,771 | €187,744 | -€21,027 | -10.1% |
| Fixed assets | 21/28 | €57,025 | €44,565 | -€12,460 | -21.9% |
| Tangible fixed assets | 22/27 | €57,025 | €44,565 | -€12,460 | -21.9% |
| Land and buildings | 22 | €6,048 | €5,815 | -€233 | -3.8% |
| Plant, machinery and equipment | 23 | €818 | €247 | -€571 | -69.8% |
| Furniture and vehicles | 24 | €50,160 | €38,503 | -€11,657 | -23.2% |
| Current assets | 29/58 | €151,746 | €143,179 | -€8,567 | -5.6% |
| Amounts receivable within one year | 40/41 | €36,151 | €63,252 | +€27,101 | +75.0% |
| Trade receivables | 40 | €18,181 | €35,493 | +€17,312 | +95.2% |
| Other amounts receivable | 41 | €17,969 | €27,759 | +€9,789 | +54.5% |
| Cash at bank and in hand | 54/58 | €113,979 | €78,040 | -€35,939 | -31.5% |
| Deferred charges and accrued income | 490/1 | €1,616 | €1,887 | +€271 | +16.8% |
| Total equity and liabilities | 10/49 | €208,771 | €187,744 | -€21,027 | -10.1% |
| Equity | 10/15 | €208,312 | €184,751 | -€23,561 | -11.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €222,430 | €222,430 | = | 0.0% |
| Distributable reserves | 133 | €222,430 | €222,430 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,118 | -€56,679 | -€23,561 | -71.1% |
| Amounts payable | 17/49 | €459 | €2,993 | +€2,534 | +552.3% |
| Amounts payable within one year | 42/48 | €459 | €2,993 | +€2,534 | +552.3% |
| Trade debts | 44 | €401 | €2,540 | +€2,138 | +533.0% |
| Suppliers | 440/4 | €401 | €2,540 | +€2,138 | +533.0% |
| Taxes, remuneration and social security | 45 | €58 | €454 | +€396 | +686.5% |
| Taxes | 450/3 | €58 | €454 | +€396 | +686.5% |
| Remuneration, social security and pensions | 62 | €239 | €226 | -€14 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,005 | €12,460 | +€3,455 | +38.4% |
| Other operating charges | 640/8 | €655 | €777 | +€122 | +18.6% |
| Operating charges capitalised as restructuring costs | 649 | -€109 | - | +€109 | |
| Gross operating margin | 9900 | €5,930 | -€9,618 | -€15,548 | |
| Operating profit (loss) | 9901 | -€3,861 | -€23,081 | -€19,220 | -497.8% |
| Financial income | 75/76B | €153 | €351 | +€198 | +129.4% |
| Recurring financial income | 75 | €153 | €351 | +€198 | +129.4% |
| Financial charges | 65/66B | €64 | €436 | +€371 | +576.7% |
| Recurring financial charges | 65 | €64 | €436 | +€371 | +576.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,772 | -€23,165 | -€19,393 | -514.1% |
| Income taxes | 67/77 | €220 | €396 | +€176 | +80.1% |
| Profit (loss) for the period | 9904 | -€3,992 | -€23,561 | -€19,569 | -490.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,992 | -€23,561 | -€19,569 | -490.2% |
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 6 October 2026 via checked.be.