Elevate: what changed
Two financial 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.
Elevate
Largest movements
- Receivables within one year +€12,636
up €12,636 (+44.9%), from €28,132 to €40,768
of which Trade receivables: +€6,579
- Cash +€8,109
up €8,109 (+15.0%), from €53,983 to €62,092
mainly Depreciation (+€21,022) and Net result for the year (+€13,518)
- Deferred charges and accrued income +€3,313
up €3,313 (+314.9%), from €1,052 to €4,365
- Tangible fixed assets -€2,979
down €2,979 (-5.9%), from €50,087 to €47,108
of which Furniture and vehicles: -€2,127
- Profit (loss) carried forward +€13,518
up €13,518 (+65.0%), from €20,811 to €34,329
- Tax, wage and social debts +€9,487
up €9,487 (+85.2%), from €11,140 to €20,627
of which Remuneration and social security: +€8,661
- Current portion of long-term debt +€3,350
up €3,350 (+34.2%), from €9,807 to €13,157
- Debts after one year -€2,813
down €2,813 (-10.6%), from €26,659 to €23,846
- Trade debts -€2,169
down €2,169 (-22.3%), from €9,731 to €7,562
- Gross operating margin +€34,740
up €34,740 (+35.9%), from €96,854 to €131,593
- Staff costs +€32,875
up €32,875 (+58.1%), from €56,580 to €89,455
- Depreciation +€4,444
up €4,444 (+26.8%), from €16,578 to €21,022
- Taxes +€2,722
up €2,722 (+240.0%), from €1,134 to €3,856
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 | €133,468 | €154,483 | +€21,015 | +15.7% |
| Fixed assets | 21/28 | €50,301 | €47,258 | -€3,043 | -6.0% |
| Intangible fixed assets | 21 | €64 | €0 | -€64 | -100.0% |
| Tangible fixed assets | 22/27 | €50,087 | €47,108 | -€2,979 | -5.9% |
| Plant, machinery and equipment | 23 | €11,643 | €10,792 | -€851 | -7.3% |
| Furniture and vehicles | 24 | €38,444 | €36,316 | -€2,127 | -5.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €83,167 | €107,225 | +€24,058 | +28.9% |
| Amounts receivable within one year | 40/41 | €28,132 | €40,768 | +€12,636 | +44.9% |
| Trade receivables | 40 | €26,333 | €32,912 | +€6,579 | +25.0% |
| Other amounts receivable | 41 | €1,799 | €7,856 | +€6,056 | +336.6% |
| Cash at bank and in hand | 54/58 | €53,983 | €62,092 | +€8,109 | +15.0% |
| Deferred charges and accrued income | 490/1 | €1,052 | €4,365 | +€3,313 | +314.9% |
| Total equity and liabilities | 10/49 | €133,468 | €154,483 | +€21,015 | +15.7% |
| Equity | 10/15 | €75,773 | €89,291 | +€13,518 | +17.8% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €16,962 | €16,962 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,102 | €15,102 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,811 | €34,329 | +€13,518 | +65.0% |
| Amounts payable | 17/49 | €57,695 | €65,192 | +€7,497 | +13.0% |
| Amounts payable after more than one year | 17 | €26,659 | €23,846 | -€2,813 | -10.6% |
| Financial debts | 170/4 | €26,659 | €23,846 | -€2,813 | -10.6% |
| Amounts payable within one year | 42/48 | €31,036 | €41,346 | +€10,310 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €9,807 | €13,157 | +€3,350 | +34.2% |
| Trade debts | 44 | €9,731 | €7,562 | -€2,169 | -22.3% |
| Suppliers | 440/4 | €9,731 | €7,562 | -€2,169 | -22.3% |
| Taxes, remuneration and social security | 45 | €11,140 | €20,627 | +€9,487 | +85.2% |
| Taxes | 450/3 | €6,969 | €7,795 | +€826 | +11.8% |
| Remuneration and social security | 454/9 | €4,171 | €12,832 | +€8,661 | +207.7% |
| Other amounts payable | 47/48 | €358 | €0 | -€358 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €56,580 | €89,455 | +€32,875 | +58.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,578 | €21,022 | +€4,444 | +26.8% |
| Other operating charges | 640/8 | €828 | €1,639 | +€810 | +97.9% |
| Non-recurring operating charges | 66A | €74 | €0 | -€74 | -100.0% |
| Gross operating margin | 9900 | €96,854 | €131,593 | +€34,740 | +35.9% |
| Operating profit (loss) | 9901 | €22,793 | €19,477 | -€3,316 | -14.5% |
| Financial income | 75/76B | €334 | €123 | -€211 | -63.2% |
| Recurring financial income | 75 | €334 | €123 | -€211 | -63.2% |
| Financial charges | 65/66B | €1,934 | €2,226 | +€292 | +15.1% |
| Recurring financial charges | 65 | €1,934 | €2,226 | +€292 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €21,194 | €17,374 | -€3,819 | -18.0% |
| Income taxes | 67/77 | €1,134 | €3,856 | +€2,722 | +240.0% |
| Profit (loss) for the period | 9904 | €20,059 | €13,518 | -€6,541 | -32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,059 | €13,518 | -€6,541 | -32.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.