ELEVEN3: 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.
ELEVEN3
Largest movements
- Receivables within one year -€15,227
down €15,227 (-98.0%), from €15,540 to €313
of which Other amounts receivable: -€8,827
- Cash -€3,294
down €3,294 (-16.1%), from €20,491 to €17,198
mainly Net result for the year (-€33,630) and Tax, wage and social debts (-€2,567)
- Tangible fixed assets -€618
down €618 (-44.8%), from €1,378 to €760
- Profit (loss) carried forward -€33,630
down €33,630 (-43.1%), from -€77,984 to -€111,614
- Trade debts +€18,459
up €18,459 (+1530.6%), from €1,206 to €19,664
- Tax, wage and social debts -€2,567
down €2,567 (-59.9%), from €4,287 to €1,720
- Accrued charges and deferred income -€1,400
down €1,400 (-12.8%), from €10,900 to €9,500
- Gross operating margin -€43,052
down €43,052, from €10,855 to -€32,197
- Depreciation -€337
down €337 (-35.3%), from €955 to €618
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 | €37,409 | €18,270 | -€19,138 | -51.2% |
| Fixed assets | 21/28 | €1,378 | €760 | -€618 | -44.8% |
| Tangible fixed assets | 22/27 | €1,378 | €760 | -€618 | -44.8% |
| Furniture and vehicles | 24 | €1,378 | €760 | -€618 | -44.8% |
| Current assets | 29/58 | €36,031 | €17,510 | -€18,521 | -51.4% |
| Amounts receivable within one year | 40/41 | €15,540 | €313 | -€15,227 | -98.0% |
| Trade receivables | 40 | €6,713 | €313 | -€6,400 | -95.3% |
| Other amounts receivable | 41 | €8,827 | - | -€8,827 | |
| Cash at bank and in hand | 54/58 | €20,491 | €17,198 | -€3,294 | -16.1% |
| Total equity and liabilities | 10/49 | €37,409 | €18,270 | -€19,138 | -51.2% |
| Equity | 10/15 | €21,016 | -€12,614 | -€33,630 | |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | €90,000 | €90,000 | = | 0.0% |
| Issued capital | 100 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €9,000 | €9,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Legal reserve | 130 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,984 | -€111,614 | -€33,630 | -43.1% |
| Amounts payable | 17/49 | €16,393 | €30,884 | +€14,491 | +88.4% |
| Amounts payable within one year | 42/48 | €5,493 | €21,384 | +€15,891 | +289.3% |
| Trade debts | 44 | €1,206 | €19,664 | +€18,459 | +1530.6% |
| Suppliers | 440/4 | €1,206 | €19,664 | +€18,459 | +1530.6% |
| Taxes, remuneration and social security | 45 | €4,287 | €1,720 | -€2,567 | -59.9% |
| Taxes | 450/3 | €4,287 | €1,720 | -€2,567 | -59.9% |
| Accrued charges and deferred income | 492/3 | €10,900 | €9,500 | -€1,400 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €955 | €618 | -€337 | -35.3% |
| Other operating charges | 640/8 | €506 | €417 | -€89 | -17.6% |
| Gross operating margin | 9900 | €10,855 | -€32,197 | -€43,052 | |
| Operating profit (loss) | 9901 | €9,394 | -€33,231 | -€42,626 | |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €185 | €185 | = | 0.0% |
| Recurring financial charges | 65 | €185 | €185 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €9,210 | -€33,409 | -€42,619 | |
| Income taxes | 67/77 | - | €221 | +€221 | |
| Profit (loss) for the period | 9904 | €9,210 | -€33,630 | -€42,840 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,210 | -€33,630 | -€42,840 |
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.