ELFACIT: 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.
ELFACIT
Largest movements
- Tangible fixed assets -€23,451
down €23,451 (-70.6%), from €33,213 to €9,762
of which Furniture and vehicles: -€22,478
- Cash -€17,751
down €17,751 (-4.0%), from €442,185 to €424,434
mainly Contributions, distributions and other (-€80,000) and Receivables within one year (-€12,676)
- Receivables within one year +€12,676
up €12,676 (+57.1%), from €22,182 to €34,859
of which Trade receivables: +€13,621
- Reserves -€29,970
down €29,970 (-10.1%), from €296,880 to €266,910
- Gross operating margin +€31,338
up €31,338 (+70.6%), from €44,366 to €75,705
- Taxes +€14,605
up €14,605 (+527%), from €2,771 to €17,377
- Financial income +€13,660
up €13,660 (+361%), from €3,786 to €17,445
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 | €501,840 | €477,404 | -€24,436 | -4.9% |
| Fixed assets | 21/28 | €33,213 | €9,762 | -€23,451 | -70.6% |
| Tangible fixed assets | 22/27 | €33,213 | €9,762 | -€23,451 | -70.6% |
| Plant, machinery and equipment | 23 | €2,488 | €1,515 | -€973 | -39.1% |
| Furniture and vehicles | 24 | €30,725 | €8,246 | -€22,478 | -73.2% |
| Current assets | 29/58 | €468,627 | €467,642 | -€985 | -0.2% |
| Amounts receivable within one year | 40/41 | €22,182 | €34,859 | +€12,676 | +57.1% |
| Trade receivables | 40 | €6,819 | €20,440 | +€13,621 | +200% |
| Other amounts receivable | 41 | €15,364 | €14,419 | -€945 | -6.1% |
| Cash at bank and in hand | 54/58 | €442,185 | €424,434 | -€17,751 | -4.0% |
| Deferred charges and accrued income | 490/1 | €4,260 | €8,350 | +€4,090 | +96.0% |
| Total equity and liabilities | 10/49 | €501,840 | €477,404 | -€24,436 | -4.9% |
| Equity | 10/15 | €498,380 | €468,410 | -€29,970 | -6.0% |
| Contributions | 10/11 | €201,500 | €201,500 | = | 0.0% |
| Reserves | 13 | €296,880 | €266,910 | -€29,970 | -10.1% |
| Distributable reserves | 133 | €296,880 | €266,910 | -€29,970 | -10.1% |
| Amounts payable | 17/49 | €3,460 | €8,993 | +€5,534 | +160% |
| Amounts payable within one year | 42/48 | €3,460 | €8,993 | +€5,534 | +160% |
| Trade debts | 44 | €1,990 | €2,914 | +€924 | +46.4% |
| Suppliers | 440/4 | €1,990 | €2,914 | +€924 | +46.4% |
| Taxes, remuneration and social security | 45 | €1,469 | €6,079 | +€4,610 | +314% |
| Taxes | 450/3 | €1,469 | €6,079 | +€4,610 | +314% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,328 | €23,451 | +€123 | +0.5% |
| Other operating charges | 640/8 | €1,695 | €1,261 | -€434 | -25.6% |
| Gross operating margin | 9900 | €44,366 | €75,705 | +€31,338 | +70.6% |
| Operating profit (loss) | 9901 | €19,343 | €50,993 | +€31,650 | +164% |
| Financial income | 75/76B | €3,786 | €17,445 | +€13,660 | +361% |
| Recurring financial income | 75 | €3,786 | €17,445 | +€13,660 | +361% |
| Financial charges | 65/66B | €1,079 | €1,031 | -€48 | -4.4% |
| Recurring financial charges | 65 | €1,079 | €1,031 | -€48 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €22,049 | €67,407 | +€45,357 | +206% |
| Income taxes | 67/77 | €2,771 | €17,377 | +€14,605 | +527% |
| Profit (loss) for the period | 9904 | €19,278 | €50,030 | +€30,752 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €19,278 | €50,030 | +€30,752 | +160% |
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 29 October 2026 via checked.be.