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 +€23,760
up €23,760 (+280.6%), from €8,467 to €32,226
- Receivables within one year +€4,473
up €4,473 (+54.1%), from €8,269 to €12,742
of which Trade receivables: +€3,451
- Cash -€1,100
down €1,100 (-29.2%), from €3,761 to €2,662
mainly Investment in fixed assets (net) (-€33,776) and Receivables within one year (-€4,473)
- Debts after one year +€14,444
new in 2025: €14,444
- Trade debts +€9,013
up €9,013 (+5359.7%), from €168 to €9,182
- Current portion of long-term debt +€4,775
new in 2025: €4,775
- Reserves -€1,781
down €1,781 (-15.5%), from €11,458 to €9,677
- Other debts +€616
up €616 (+44.8%), from €1,376 to €1,992
- Depreciation +€8,089
up €8,089 (+419.8%), from €1,927 to €10,016
- Gross operating margin -€7,785
down €7,785 (-47.3%), from €16,452 to €8,667
- Taxes -€2,880
down €2,880 (-100.0%), from €2,880 to €0
- Financial income +€736
new in 2025: €736
- Other operating charges +€681
up €681 (+460.1%), from €148 to €829
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 | €20,497 | €48,098 | +€27,601 | +134.7% |
| Fixed assets | 21/28 | €8,467 | €32,226 | +€23,760 | +280.6% |
| Tangible fixed assets | 22/27 | €8,467 | €32,226 | +€23,760 | +280.6% |
| Plant, machinery and equipment | 23 | €8,467 | €32,226 | +€23,760 | +280.6% |
| Current assets | 29/58 | €12,030 | €15,872 | +€3,842 | +31.9% |
| Amounts receivable within one year | 40/41 | €8,269 | €12,742 | +€4,473 | +54.1% |
| Trade receivables | 40 | €8,259 | €11,711 | +€3,451 | +41.8% |
| Other amounts receivable | 41 | €10 | €1,031 | +€1,022 | +10733.8% |
| Cash at bank and in hand | 54/58 | €3,761 | €2,662 | -€1,100 | -29.2% |
| Deferred charges and accrued income | 490/1 | - | €468 | +€468 | |
| Total equity and liabilities | 10/49 | €20,497 | €48,098 | +€27,601 | +134.7% |
| Equity | 10/15 | €13,958 | €12,177 | -€1,781 | -12.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,458 | €9,677 | -€1,781 | -15.5% |
| Distributable reserves | 133 | €11,458 | €9,677 | -€1,781 | -15.5% |
| Amounts payable | 17/49 | €6,539 | €35,921 | +€29,382 | +449.4% |
| Amounts payable after more than one year | 17 | - | €14,444 | +€14,444 | |
| Financial debts | 170/4 | - | €14,444 | +€14,444 | |
| Amounts payable within one year | 42/48 | €6,539 | €21,476 | +€14,938 | +228.4% |
| Current portion of amounts payable after more than one year | 42 | - | €4,775 | +€4,775 | |
| Trade debts | 44 | €168 | €9,182 | +€9,013 | +5359.7% |
| Suppliers | 440/4 | €168 | €9,182 | +€9,013 | +5359.7% |
| Taxes, remuneration and social security | 45 | €4,995 | €5,527 | +€533 | +10.7% |
| Taxes | 450/3 | €4,995 | €5,527 | +€533 | +10.7% |
| Other amounts payable | 47/48 | €1,376 | €1,992 | +€616 | +44.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,927 | €10,016 | +€8,089 | +419.8% |
| Other operating charges | 640/8 | €148 | €829 | +€681 | +460.1% |
| Gross operating margin | 9900 | €16,452 | €8,667 | -€7,785 | -47.3% |
| Operating profit (loss) | 9901 | €14,377 | -€2,178 | -€16,556 | |
| Financial income | 75/76B | - | €736 | +€736 | |
| Recurring financial income | 75 | - | €736 | +€736 | |
| Financial charges | 65/66B | €39 | €339 | +€300 | +767.2% |
| Recurring financial charges | 65 | €39 | €339 | +€300 | +767.2% |
| Profit (loss) for the period before taxes | 9903 | €14,338 | -€1,781 | -€16,119 | |
| Income taxes | 67/77 | €2,880 | €0 | -€2,880 | -100.0% |
| Profit (loss) for the period | 9904 | €11,458 | -€1,781 | -€13,239 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,458 | -€1,781 | -€13,239 |
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 5 October 2026 via checked.be.