Elfico Power: 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.
Elfico Power
Largest movements
- Cash +€356,002
up €356,002 (+90.8%), from €392,223 to €748,224
mainly Net result for the year (+€351,573) and Depreciation (+€5,633)
- Reserves +€351,573
up €351,573 (+22.3%), from €1.6m to €1.9m
- Gross operating margin -€256,365
down €256,365 (-34.5%), from €742,751 to €486,386
- Taxes -€65,826
down €65,826 (-29.5%), from €223,227 to €157,401
- Depreciation -€30,810
down €30,810 (-84.5%), from €36,442 to €5,633
- Financial income +€19,769
up €19,769 (+184%), from €10,728 to €30,497
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 | €1,631,571 | €1,982,656 | +€351,085 | +21.5% |
| Fixed assets | 21/28 | €229,364 | €223,732 | -€5,633 | -2.5% |
| Tangible fixed assets | 22/27 | €229,364 | €223,732 | -€5,633 | -2.5% |
| Land and buildings | 22 | €229,364 | €223,732 | -€5,633 | -2.5% |
| Current assets | 29/58 | €1,402,207 | €1,758,924 | +€356,718 | +25.4% |
| Amounts receivable within one year | 40/41 | €9,984 | €10,700 | +€716 | +7.2% |
| Trade receivables | 40 | €9,984 | - | -€9,984 | |
| Other amounts receivable | 41 | - | €10,700 | +€10,700 | |
| Current investments | 50/53 | €1,000,000 | €1,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €392,223 | €748,224 | +€356,002 | +90.8% |
| Total equity and liabilities | 10/49 | €1,631,571 | €1,982,656 | +€351,085 | +21.5% |
| Equity | 10/15 | €1,582,658 | €1,934,231 | +€351,573 | +22.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,576,458 | €1,928,031 | +€351,573 | +22.3% |
| Distributable reserves | 133 | €1,576,458 | €1,928,031 | +€351,573 | +22.3% |
| Amounts payable | 17/49 | €48,913 | €48,425 | -€488 | -1.0% |
| Amounts payable within one year | 42/48 | €48,913 | €48,425 | -€488 | -1.0% |
| Trade debts | 44 | €534 | €1,365 | +€831 | +156% |
| Suppliers | 440/4 | €534 | €1,365 | +€831 | +156% |
| Taxes, remuneration and social security | 45 | €48,379 | €47,022 | -€1,358 | -2.8% |
| Taxes | 450/3 | €48,379 | €47,022 | -€1,358 | -2.8% |
| Other amounts payable | 47/48 | - | €39 | +€39 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,442 | €5,633 | -€30,810 | -84.5% |
| Other operating charges | 640/8 | €1,136 | €2,230 | +€1,094 | +96.3% |
| Gross operating margin | 9900 | €742,751 | €486,386 | -€256,365 | -34.5% |
| Operating profit (loss) | 9901 | €705,173 | €478,523 | -€226,650 | -32.1% |
| Financial income | 75/76B | €10,728 | €30,497 | +€19,769 | +184% |
| Recurring financial income | 75 | €10,728 | €30,497 | +€19,769 | +184% |
| Financial charges | 65/66B | €46 | €46 | -€0 | 0.0% |
| Recurring financial charges | 65 | €46 | €46 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €715,855 | €508,974 | -€206,881 | -28.9% |
| Income taxes | 67/77 | €223,227 | €157,401 | -€65,826 | -29.5% |
| Profit (loss) for the period | 9904 | €492,628 | €351,573 | -€141,055 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €492,628 | €351,573 | -€141,055 | -28.6% |
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.