ELEVATION VOYAGES: 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.
ELEVATION VOYAGES
Largest movements
- Cash +€36,470
up €36,470 (+40.2%), from €90,777 to €127,247
mainly Deferred charges and accrued income (+€19,295) and Net result for the year (+€18,106)
- Deferred charges and accrued income -€19,295
down €19,295 (-21.7%), from €89,117 to €69,822
- Other debts +€14,697
up €14,697 (+62.1%), from €23,664 to €38,360
- Advances received +€3,975
up €3,975 (+7.7%), from €51,849 to €55,824
- Gross operating margin +€23,849
up €23,849, from -€1,085 to €22,765
- Taxes +€3,649
new in 2025: €3,649
- Depreciation -€655
down €655 (-49.2%), from €1,332 to €677
- Financial income +€471
up €471 (+836%), from €56 to €527
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.
Derived cash bridge
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 | €186,791 | €202,005 | +€15,214 | +8.1% |
| Fixed assets | 21/28 | €1,932 | €1,254 | -€677 | -35.1% |
| Tangible fixed assets | 22/27 | €1,932 | €1,254 | -€677 | -35.1% |
| Plant, machinery and equipment | 23 | €35 | - | -€35 | |
| Furniture and vehicles | 24 | €1,897 | €1,254 | -€642 | -33.9% |
| Current assets | 29/58 | €184,859 | €200,750 | +€15,891 | +8.6% |
| Amounts receivable within one year | 40/41 | €4,966 | €3,682 | -€1,284 | -25.9% |
| Trade receivables | 40 | €1,534 | €452 | -€1,082 | -70.6% |
| Other amounts receivable | 41 | €3,431 | €3,230 | -€201 | -5.9% |
| Cash at bank and in hand | 54/58 | €90,777 | €127,247 | +€36,470 | +40.2% |
| Deferred charges and accrued income | 490/1 | €89,117 | €69,822 | -€19,295 | -21.7% |
| Total equity and liabilities | 10/49 | €186,791 | €202,005 | +€15,214 | +8.1% |
| Equity | 10/15 | €71,699 | €71,699 | = | 0.0% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Contributions outside capital | 11 | €35,000 | €35,000 | = | 0.0% |
| Other | 1109/19 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,699 | €36,699 | = | 0.0% |
| Amounts payable | 17/49 | €115,092 | €130,305 | +€15,214 | +13.2% |
| Amounts payable within one year | 42/48 | €115,092 | €130,305 | +€15,214 | +13.2% |
| Trade debts | 44 | €33,097 | €31,097 | -€2,000 | -6.0% |
| Suppliers | 440/4 | €33,097 | €31,097 | -€2,000 | -6.0% |
| Advances received on contracts in progress | 46 | €51,849 | €55,824 | +€3,975 | +7.7% |
| Taxes, remuneration and social security | 45 | €6,482 | €5,024 | -€1,458 | -22.5% |
| Taxes | 450/3 | €6,482 | €4,164 | -€2,317 | -35.8% |
| Remuneration and social security | 454/9 | - | €860 | +€860 | |
| Other amounts payable | 47/48 | €23,664 | €38,360 | +€14,697 | +62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,332 | €677 | -€655 | -49.2% |
| Other operating charges | 640/8 | €580 | €400 | -€181 | -31.1% |
| Gross operating margin | 9900 | -€1,085 | €22,765 | +€23,849 | |
| Operating profit (loss) | 9901 | -€2,997 | €21,688 | +€24,685 | |
| Financial income | 75/76B | €56 | €527 | +€471 | +836% |
| Recurring financial income | 75 | €56 | €527 | +€471 | +836% |
| Financial charges | 65/66B | €607 | €460 | -€146 | -24.1% |
| Recurring financial charges | 65 | €607 | €460 | -€146 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,548 | €21,754 | +€25,302 | |
| Income taxes | 67/77 | - | €3,649 | +€3,649 | |
| Profit (loss) for the period | 9904 | -€3,548 | €18,106 | +€21,653 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,548 | €18,106 | +€21,653 |
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 19 October 2026 via checked.be.