ELFIL: 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.
What changed
ELFIL
NACE 73.300, Public relations and communication consultancy
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€3.6m
2025 · €3.8m-€138,633
Equity
€40.6m
2025 · €37.5m+€3.1m
Cash
€3.5m
2025 · €3.2m+€296,171
Balance sheet total
€44.9m
2025 · €41.7m+€3.2m
Largest movements
Assets
- Receivables within one year +€5.6m
up €5.6m (+32.1%), from €17.5m to €23.1m
- Receivables after one year -€3.3m
down €3.3m (-52.1%), from €6.3m to €3.0m
Equity and liabilities
- Profit (loss) carried forward +€3.1m
up €3.1m (+8.4%), from €37.2m to €40.3m
Income statement
- Gross operating margin -€249,859
down €249,859 (-13.6%), from €1.8m to €1.6m
- Taxes -€155,345
down €155,345 (-28.0%), from €554,459 to €399,114
- Financial income -€37,342
down €37,342 (-1.3%), from €2.8m to €2.7m
From the 2025 result to the 2026 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.
Result 2025
€3.8m
Gross operating margin
-€249,859
Depreciation
-€1,941
Other operating charges
+€11,685
Financial income
-€37,342
Financial charges
-€16,521
Taxes
+€155,345
Result 2026
€3.6m
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.3m
Investment
-€487,951
Financing
-€500,030
Cash 2025
€3.2m
From operations (derived)
+€1.3m
Net result for the year
+€3.6m
Depreciation
+€113,036
Receivables after one year
+€3.3m
Receivables within one year
-€5.6m
Deferred charges and accrued income
-€140,085
Trade debts
+€76
Tax, wage and social debts
-€37,050
Other debts
+€50,021
Accrued charges and deferred income
+€18,898
Investment (derived)
-€487,951
Investment in fixed assets (net)
-€487,951
Financing
-€500,030
Contributions, distributions and other
-€500,030
Cash 2026
€3.5m
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,735,064 | €44,902,932 | +€3.2m | +7.6% |
| Fixed assets | 21/28 | €14,523,292 | €14,898,207 | +€374,915 | +2.6% |
| Tangible fixed assets | 22/27 | €3,085,801 | €3,266,966 | +€181,165 | +5.9% |
| Land and buildings | 22 | €2,977,404 | €3,186,521 | +€209,117 | +7.0% |
| Plant, machinery and equipment | 23 | €858 | €88 | -€770 | -89.7% |
| Furniture and vehicles | 24 | €107,539 | €80,357 | -€27,182 | -25.3% |
| Financial fixed assets | 28 | €11,437,491 | €11,631,241 | +€193,750 | +1.7% |
| Current assets | 29/58 | €27,211,772 | €30,004,725 | +€2.8m | +10.3% |
| Amounts receivable after more than one year | 29 | €6,264,416 | €3,000,001 | -€3.3m | -52.1% |
| Other amounts receivable | 291 | €6,264,416 | €3,000,001 | -€3.3m | -52.1% |
| Amounts receivable within one year | 40/41 | €17,500,000 | €23,121,112 | +€5.6m | +32.1% |
| Other amounts receivable | 41 | €17,500,000 | €23,121,112 | +€5.6m | +32.1% |
| Cash at bank and in hand | 54/58 | €3,222,992 | €3,519,163 | +€296,171 | +9.2% |
| Deferred charges and accrued income | 490/1 | €224,364 | €364,449 | +€140,085 | +62.4% |
| Total equity and liabilities | 10/49 | €41,735,064 | €44,902,932 | +€3.2m | +7.6% |
| Equity | 10/15 | €37,463,197 | €40,599,120 | +€3.1m | +8.4% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €275,000 | €275,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €275,000 | €275,000 | = | 0.0% |
| Other | 1319 | €275,000 | €275,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,157,197 | €40,293,120 | +€3.1m | +8.4% |
| Amounts payable | 17/49 | €4,271,867 | €4,303,812 | +€31,945 | +0.7% |
| Amounts payable after more than one year | 17 | €3,500,000 | €3,500,000 | = | 0.0% |
| Financial debts | 170/4 | €3,500,000 | - | -€3.5m | |
| Trade debts | 175 | - | €3,500,000 | +€3.5m | |
| Amounts payable within one year | 42/48 | €606,894 | €619,941 | +€13,047 | +2.1% |
| Trade debts | 44 | €20 | €96 | +€76 | +380.0% |
| Suppliers | 440/4 | €20 | €96 | +€76 | +380.0% |
| Taxes, remuneration and social security | 45 | €51,212 | €14,162 | -€37,050 | -72.3% |
| Taxes | 450/3 | €51,212 | €14,162 | -€37,050 | -72.3% |
| Other amounts payable | 47/48 | €555,662 | €605,683 | +€50,021 | +9.0% |
| Accrued charges and deferred income | 492/3 | €164,973 | €183,871 | +€18,898 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,095 | €113,036 | +€1,941 | +1.7% |
| Other operating charges | 640/8 | €15,801 | €4,116 | -€11,685 | -74.0% |
| Gross operating margin | 9900 | €1,840,731 | €1,590,872 | -€249,859 | -13.6% |
| Operating profit (loss) | 9901 | €1,713,835 | €1,473,720 | -€240,115 | -14.0% |
| Financial income | 75/76B | €2,783,060 | €2,745,718 | -€37,342 | -1.3% |
| Recurring financial income | 75 | €2,783,060 | €2,745,718 | -€37,342 | -1.3% |
| Financial charges | 65/66B | €167,850 | €184,371 | +€16,521 | +9.8% |
| Recurring financial charges | 65 | €167,850 | €184,371 | +€16,521 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €4,329,045 | €4,035,067 | -€293,978 | -6.8% |
| Income taxes | 67/77 | €554,459 | €399,114 | -€155,345 | -28.0% |
| Profit (loss) for the period | 9904 | €3,774,586 | €3,635,953 | -€138,633 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,774,586 | €3,635,953 | -€138,633 | -3.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.