ELESSAN: 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.
ELESSAN
Largest movements
- Cash -€299,100
down €299,100 (-83.1%), from €359,713 to €60,613
mainly Net result for the year (-€514,371) and Trade debts (-€109,945)
- Stocks and contracts -€69,967
down €69,967 (-89.2%), from €78,437 to €8,470
- Tangible fixed assets -€38,848
down €38,848 (-78.8%), from €49,308 to €10,461
of which Plant, machinery and equipment: -€24,612
- Receivables within one year -€8,543
down €8,543 (-64.9%), from €13,158 to €4,616
of which Other amounts receivable: -€7,646
- Profit (loss) carried forward -€514,371
down €514,371 (-42.7%), from -€1.2m to -€1.7m
- Other debts +€227,624
new in 2025: €227,624
- Trade debts -€109,945
down €109,945 (-81.9%), from €134,311 to €24,366
- Tax, wage and social debts -€40,098
down €40,098 (-52.8%), from €75,888 to €35,789
of which Remuneration and social security: -€39,689
- Advances received +€15,342
up €15,342 (+551.8%), from €2,781 to €18,123
- Gross operating margin +€160,043
up €160,043 (+42.0%), from -€381,277 to -€221,234
- Staff costs -€154,079
down €154,079 (-48.0%), from €320,882 to €166,803
- Write-downs +€80,987
new in 2025: €80,987
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 | €509,145 | €87,697 | -€421,448 | -82.8% |
| Fixed assets | 21/28 | €49,308 | €10,461 | -€38,848 | -78.8% |
| Tangible fixed assets | 22/27 | €49,308 | €10,461 | -€38,848 | -78.8% |
| Plant, machinery and equipment | 23 | €32,551 | €7,939 | -€24,612 | -75.6% |
| Furniture and vehicles | 24 | €6,163 | €1,383 | -€4,780 | -77.6% |
| Other tangible fixed assets | 26 | €10,594 | €1,139 | -€9,455 | -89.3% |
| Current assets | 29/58 | €459,837 | €77,236 | -€382,601 | -83.2% |
| Stocks and contracts in progress | 3 | €78,437 | €8,470 | -€69,967 | -89.2% |
| Stocks | 30/36 | €78,437 | €8,470 | -€69,967 | -89.2% |
| Amounts receivable within one year | 40/41 | €13,158 | €4,616 | -€8,543 | -64.9% |
| Trade receivables | 40 | €1,089 | €192 | -€897 | -82.4% |
| Other amounts receivable | 41 | €12,069 | €4,424 | -€7,646 | -63.3% |
| Current investments | 50/53 | €2,594 | €2,603 | +€9 | +0.4% |
| Cash at bank and in hand | 54/58 | €359,713 | €60,613 | -€299,100 | -83.1% |
| Deferred charges and accrued income | 490/1 | €5,935 | €935 | -€5,000 | -84.2% |
| Total equity and liabilities | 10/49 | €509,145 | €87,697 | -€421,448 | -82.8% |
| Equity | 10/15 | €296,165 | -€218,206 | -€514,371 | |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€1,203,835 | -€1,718,206 | -€514,371 | -42.7% |
| Amounts payable | 17/49 | €212,980 | €305,903 | +€92,923 | +43.6% |
| Amounts payable within one year | 42/48 | €212,980 | €305,903 | +€92,923 | +43.6% |
| Trade debts | 44 | €134,311 | €24,366 | -€109,945 | -81.9% |
| Suppliers | 440/4 | €134,311 | €24,366 | -€109,945 | -81.9% |
| Advances received on contracts in progress | 46 | €2,781 | €18,123 | +€15,342 | +551.8% |
| Taxes, remuneration and social security | 45 | €75,888 | €35,789 | -€40,098 | -52.8% |
| Taxes | 450/3 | €649 | €240 | -€409 | -63.1% |
| Remuneration and social security | 454/9 | €75,239 | €35,550 | -€39,689 | -52.8% |
| Other amounts payable | 47/48 | - | €227,624 | +€227,624 | |
| Remuneration, social security and pensions | 62 | €320,882 | €166,803 | -€154,079 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,734 | €12,734 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €80,987 | +€80,987 | |
| Other operating charges | 640/8 | €1,108 | €2,629 | +€1,521 | +137.2% |
| Non-recurring operating charges | 66A | - | €26,113 | +€26,113 | |
| Gross operating margin | 9900 | -€381,277 | -€221,234 | +€160,043 | +42.0% |
| Operating profit (loss) | 9901 | -€716,001 | -€510,500 | +€205,501 | +28.7% |
| Financial income | 75/76B | €12 | €13 | +€2 | +13.4% |
| Recurring financial income | 75 | €12 | €13 | +€2 | +13.4% |
| Financial charges | 65/66B | €539 | €3,586 | +€3,047 | +564.8% |
| Recurring financial charges | 65 | €539 | €3,586 | +€3,047 | +564.8% |
| Profit (loss) for the period before taxes | 9903 | -€716,529 | -€514,073 | +€202,455 | +28.3% |
| Income taxes | 67/77 | €650 | €298 | -€352 | -54.1% |
| Profit (loss) for the period | 9904 | -€717,178 | -€514,371 | +€202,807 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€717,178 | -€514,371 | +€202,807 | +28.3% |
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.