ELEVENATE: 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.
ELEVENATE
Largest movements
- Cash +€16,403
up €16,403 (+45.8%), from €35,803 to €52,205
mainly Net result for the year (+€34,068) and Depreciation (+€5,179)
- Tangible fixed assets -€7,402
down €7,402 (-33.4%), from €22,139 to €14,737
of which Furniture and vehicles: -€6,662
- Receivables within one year +€3,864
up €3,864 (+26.2%), from €14,725 to €18,588
of which Other amounts receivable: +€2,484
- Deferred charges and accrued income +€1,180
up €1,180 (+121%), from €975 to €2,155
- Reserves +€24,068
up €24,068 (+93.0%), from €25,884 to €49,952
- Other debts -€9,086
down €9,086 (-33.2%), from €27,393 to €18,307
- Tax, wage and social debts -€3,314
down €3,314 (-22.3%), from €14,837 to €11,523
- Trade debts +€2,209
up €2,209 (+698%), from €317 to €2,525
- Gross operating margin +€16,073
up €16,073 (+45.5%), from €35,306 to €51,379
- Taxes +€3,504
up €3,504 (+51.6%), from €6,794 to €10,298
- Other operating charges -€547
down €547 (-32.9%), from €1,660 to €1,113
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 | €73,641 | €87,686 | +€14,045 | +19.1% |
| Fixed assets | 21/28 | €22,139 | €14,737 | -€7,402 | -33.4% |
| Tangible fixed assets | 22/27 | €22,139 | €14,737 | -€7,402 | -33.4% |
| Furniture and vehicles | 24 | €19,029 | €12,368 | -€6,662 | -35.0% |
| Other tangible fixed assets | 26 | €3,110 | €2,370 | -€740 | -23.8% |
| Current assets | 29/58 | €51,502 | €72,949 | +€21,446 | +41.6% |
| Amounts receivable within one year | 40/41 | €14,725 | €18,588 | +€3,864 | +26.2% |
| Trade receivables | 40 | €14,709 | €16,088 | +€1,379 | +9.4% |
| Other amounts receivable | 41 | €16 | €2,500 | +€2,484 | +15,763% |
| Cash at bank and in hand | 54/58 | €35,803 | €52,205 | +€16,403 | +45.8% |
| Deferred charges and accrued income | 490/1 | €975 | €2,155 | +€1,180 | +121% |
| Total equity and liabilities | 10/49 | €73,641 | €87,686 | +€14,045 | +19.1% |
| Equity | 10/15 | €30,884 | €54,952 | +€24,068 | +77.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,884 | €49,952 | +€24,068 | +93.0% |
| Distributable reserves | 133 | €25,884 | €49,952 | +€24,068 | +93.0% |
| Amounts payable | 17/49 | €42,757 | €32,734 | -€10,023 | -23.4% |
| Amounts payable within one year | 42/48 | €42,547 | €32,355 | -€10,192 | -24.0% |
| Trade debts | 44 | €317 | €2,525 | +€2,209 | +698% |
| Suppliers | 440/4 | €317 | €2,525 | +€2,209 | +698% |
| Taxes, remuneration and social security | 45 | €14,837 | €11,523 | -€3,314 | -22.3% |
| Taxes | 450/3 | €14,837 | €11,523 | -€3,314 | -22.3% |
| Other amounts payable | 47/48 | €27,393 | €18,307 | -€9,086 | -33.2% |
| Accrued charges and deferred income | 492/3 | €210 | €379 | +€169 | +80.2% |
| Non-recurring operating income | 76A | - | €12,612 | +€12,612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,978 | €5,179 | +€201 | +4.0% |
| Other operating charges | 640/8 | €1,660 | €1,113 | -€547 | -32.9% |
| Non-recurring operating charges | 66A | €160 | - | -€160 | |
| Gross operating margin | 9900 | €35,306 | €51,379 | +€16,073 | +45.5% |
| Operating profit (loss) | 9901 | €28,509 | €45,087 | +€16,579 | +58.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €562 | €721 | +€159 | +28.3% |
| Recurring financial charges | 65 | €562 | €721 | +€159 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €27,946 | €44,366 | +€16,420 | +58.8% |
| Income taxes | 67/77 | €6,794 | €10,298 | +€3,504 | +51.6% |
| Profit (loss) for the period | 9904 | €21,152 | €34,068 | +€12,916 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,152 | €34,068 | +€12,916 | +61.1% |
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 18 October 2026 via checked.be.