ELEVATE: 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.
ELEVATE
Largest movements
- Tangible fixed assets -€8,788
down €8,788 (-23.3%), from €37,665 to €28,877
of which Plant, machinery and equipment: -€7,896
- Intangible fixed assets -€2,300
down €2,300 (-11.9%), from €19,299 to €16,999
- Cash +€1,305
up €1,305 (+445.1%), from €293 to €1,598
mainly Depreciation (+€11,699) and Tax, wage and social debts (+€2,157)
- Deferred charges and accrued income -€1,252
down €1,252 (-52.5%), from €2,386 to €1,134
- Receivables within one year -€716
down €716 (-6.7%), from €10,665 to €9,949
of which Other amounts receivable: -€588
- Profit (loss) carried forward -€8,739
down €8,739 (-911.8%), from -€958 to -€9,698
- Debts after one year -€5,300
down €5,300 (-10.8%), from €49,274 to €43,974
of which Financial debts: -€6,241
- Tax, wage and social debts +€2,157
new in 2025: €2,157
- Trade debts +€1,388
up €1,388 (+11.8%), from €11,775 to €13,163
- Short-term financial debts -€987
down €987 (-95.2%), from €1,037 to €49
- Gross operating margin -€9,353
down €9,353 (-49.2%), from €19,018 to €9,665
- Other operating charges -€2,286
down €2,286 (-35.8%), from €6,386 to €4,101
- Financial charges +€844
up €844 (+47.9%), from €1,762 to €2,605
- Depreciation -€292
down €292 (-2.4%), from €11,991 to €11,699
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 | €70,944 | €58,887 | -€12,056 | -17.0% |
| Fixed assets | 21/28 | €56,964 | €45,876 | -€11,088 | -19.5% |
| Intangible fixed assets | 21 | €19,299 | €16,999 | -€2,300 | -11.9% |
| Tangible fixed assets | 22/27 | €37,665 | €28,877 | -€8,788 | -23.3% |
| Plant, machinery and equipment | 23 | €33,325 | €25,429 | -€7,896 | -23.7% |
| Furniture and vehicles | 24 | €3,328 | €2,647 | -€681 | -20.5% |
| Other tangible fixed assets | 26 | €1,013 | €801 | -€211 | -20.9% |
| Current assets | 29/58 | €13,980 | €13,012 | -€968 | -6.9% |
| Stocks and contracts in progress | 3 | €637 | €332 | -€305 | -47.9% |
| Stocks | 30/36 | €637 | €332 | -€305 | -47.9% |
| Amounts receivable within one year | 40/41 | €10,665 | €9,949 | -€716 | -6.7% |
| Trade receivables | 40 | €10,077 | €9,949 | -€128 | -1.3% |
| Other amounts receivable | 41 | €588 | - | -€588 | |
| Cash at bank and in hand | 54/58 | €293 | €1,598 | +€1,305 | +445.1% |
| Deferred charges and accrued income | 490/1 | €2,386 | €1,134 | -€1,252 | -52.5% |
| Total equity and liabilities | 10/49 | €70,944 | €58,887 | -€12,056 | -17.0% |
| Equity | 10/15 | €2,042 | -€6,698 | -€8,739 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€958 | -€9,698 | -€8,739 | -911.8% |
| Amounts payable | 17/49 | €68,902 | €65,585 | -€3,317 | -4.8% |
| Amounts payable after more than one year | 17 | €49,274 | €43,974 | -€5,300 | -10.8% |
| Financial debts | 170/4 | €19,064 | €12,823 | -€6,241 | -32.7% |
| Other amounts payable | 178/9 | €30,210 | €31,151 | +€941 | +3.1% |
| Amounts payable within one year | 42/48 | €18,763 | €21,611 | +€2,847 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €5,951 | €6,241 | +€290 | +4.9% |
| Financial debts | 43 | €1,037 | €49 | -€987 | -95.2% |
| Credit institutions | 430/8 | €1,037 | €49 | -€987 | -95.2% |
| Trade debts | 44 | €11,775 | €13,163 | +€1,388 | +11.8% |
| Suppliers | 440/4 | €11,775 | €13,163 | +€1,388 | +11.8% |
| Taxes, remuneration and social security | 45 | - | €2,157 | +€2,157 | |
| Taxes | 450/3 | - | €2,157 | +€2,157 | |
| Accrued charges and deferred income | 492/3 | €865 | - | -€865 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,991 | €11,699 | -€292 | -2.4% |
| Other operating charges | 640/8 | €6,386 | €4,101 | -€2,286 | -35.8% |
| Gross operating margin | 9900 | €19,018 | €9,665 | -€9,353 | -49.2% |
| Operating profit (loss) | 9901 | €641 | -€6,134 | -€6,775 | |
| Financial income | 75/76B | €162 | €1 | -€162 | -99.7% |
| Recurring financial income | 75 | €162 | €1 | -€162 | -99.7% |
| Financial charges | 65/66B | €1,762 | €2,605 | +€844 | +47.9% |
| Recurring financial charges | 65 | €1,762 | €2,605 | +€844 | +47.9% |
| Profit (loss) for the period before taxes | 9903 | -€958 | -€8,739 | -€7,781 | -811.8% |
| Profit (loss) for the period | 9904 | -€958 | -€8,739 | -€7,781 | -811.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€958 | -€8,739 | -€7,781 | -811.8% |
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.