ELET PATRICK: 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.
ELET PATRICK
Largest movements
- Cash -€324,971
down €324,971 (-71.6%), from €454,169 to €129,198
mainly Other debts (-€295,374) and Current investments (-€78,471)
- Current investments +€78,471
up €78,471 (+131.2%), from €59,825 to €138,297
- Other debts -€295,374
down €295,374 (-94.2%), from €313,711 to €18,337
- Reserves +€29,850
up €29,850 (+14.3%), from €209,384 to €239,233
of which Distributable reserves: +€29,850
- Tax, wage and social debts +€11,352
up €11,352 (+107.7%), from €10,544 to €21,897
of which Taxes: +€11,338
- Accrued charges and deferred income +€5,909
up €5,909 (+981.1%), from €602 to €6,511
- Gross operating margin -€14,019
down €14,019 (-22.6%), from €61,924 to €47,905
- Financial charges +€1,582
up €1,582 (+598.8%), from €264 to €1,846
- Taxes -€1,551
down €1,551 (-9.0%), from €17,205 to €15,654
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 | €548,235 | €298,018 | -€250,218 | -45.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €16,429 | €15,843 | -€586 | -3.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €16,429 | €15,843 | -€586 | -3.6% |
| Land and buildings | 22 | €856 | €314 | -€542 | -63.3% |
| Plant, machinery and equipment | 23 | €4,268 | €7,496 | +€3,228 | +75.7% |
| Furniture and vehicles | 24 | €11,306 | €8,033 | -€3,272 | -28.9% |
| Current assets | 29/58 | €531,806 | €282,175 | -€249,632 | -46.9% |
| Amounts receivable within one year | 40/41 | €1,898 | - | -€1,898 | |
| Other amounts receivable | 41 | €1,898 | - | -€1,898 | |
| Current investments | 50/53 | €59,825 | €138,297 | +€78,471 | +131.2% |
| Cash at bank and in hand | 54/58 | €454,169 | €129,198 | -€324,971 | -71.6% |
| Deferred charges and accrued income | 490/1 | €15,914 | €14,680 | -€1,234 | -7.8% |
| Total equity and liabilities | 10/49 | €548,235 | €298,018 | -€250,218 | -45.6% |
| Equity | 10/15 | €215,584 | €245,433 | +€29,850 | +13.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €209,384 | €239,233 | +€29,850 | +14.3% |
| Tax-exempt reserves | 132 | €1,852 | €1,852 | = | 0.0% |
| Distributable reserves | 133 | €207,532 | €237,382 | +€29,850 | +14.4% |
| Amounts payable | 17/49 | €332,652 | €52,584 | -€280,067 | -84.2% |
| Amounts payable within one year | 42/48 | €332,049 | €46,073 | -€285,976 | -86.1% |
| Trade debts | 44 | €7,794 | €5,839 | -€1,955 | -25.1% |
| Suppliers | 440/4 | €7,794 | €5,839 | -€1,955 | -25.1% |
| Taxes, remuneration and social security | 45 | €10,544 | €21,897 | +€11,352 | +107.7% |
| Taxes | 450/3 | €8,392 | €19,730 | +€11,338 | +135.1% |
| Remuneration and social security | 454/9 | €2,153 | €2,167 | +€14 | +0.7% |
| Other amounts payable | 47/48 | €313,711 | €18,337 | -€295,374 | -94.2% |
| Accrued charges and deferred income | 492/3 | €602 | €6,511 | +€5,909 | +981.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,690 | €5,029 | +€339 | +7.2% |
| Other operating charges | 640/8 | €1,284 | €682 | -€602 | -46.9% |
| Gross operating margin | 9900 | €61,924 | €47,905 | -€14,019 | -22.6% |
| Operating profit (loss) | 9901 | €55,950 | €42,194 | -€13,756 | -24.6% |
| Financial income | 75/76B | €5,204 | €5,155 | -€49 | -0.9% |
| Recurring financial income | 75 | €5,204 | €5,155 | -€49 | -0.9% |
| Financial charges | 65/66B | €264 | €1,846 | +€1,582 | +598.8% |
| Recurring financial charges | 65 | €264 | €1,846 | +€1,582 | +598.8% |
| Profit (loss) for the period before taxes | 9903 | €60,890 | €45,504 | -€15,386 | -25.3% |
| Income taxes | 67/77 | €17,205 | €15,654 | -€1,551 | -9.0% |
| Profit (loss) for the period | 9904 | €43,685 | €29,850 | -€13,835 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,685 | €29,850 | -€13,835 | -31.7% |
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 29 September 2026 via checked.be.