ELFLOR: 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.
ELFLOR
Largest movements
- Stocks and contracts -€11,150
down €11,150 (-13.8%), from €81,077 to €69,927
- Cash +€9,138
up €9,138 (+35.7%), from €25,576 to €34,714
mainly Stocks and contracts (+€11,150) and Short-term financial debts (+€11,118)
- Receivables within one year -€6,186
down €6,186 (-3.7%), from €167,062 to €160,875
of which Trade receivables: -€26,022
- Tangible fixed assets -€4,429
down €4,429 (-34.2%), from €12,933 to €8,504
of which Furniture and vehicles: -€11,326
- Deferred charges and accrued income -€3,217
down €3,217 (-100.0%), from €3,217 to €0
- Current portion of long-term debt -€14,886
down €14,886 (-96.6%), from €15,412 to €526
- Short-term financial debts +€11,118
up €11,118 (+37.2%), from €29,906 to €41,024
of which Other loans: +€6,000
- Trade debts -€4,671
down €4,671 (-8.6%), from €54,479 to €49,808
- Tax, wage and social debts -€4,309
down €4,309 (-10.7%), from €40,128 to €35,819
of which Remuneration and social security: -€2,500
- Gross operating margin -€20,697
down €20,697 (-41.3%), from €50,088 to €29,391
- Write-downs -€11,538
down €11,538 (-69.4%), from €16,623 to €5,086
- Other operating charges -€4,198
down €4,198 (-60.6%), from €6,926 to €2,728
- Financial charges +€3,417
up €3,417 (+15.8%), from €21,665 to €25,082
- Depreciation -€1,176
down €1,176 (-59.5%), from €1,977 to €801
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 | €292,360 | €276,516 | -€15,844 | -5.4% |
| Fixed assets | 21/28 | €15,428 | €10,999 | -€4,429 | -28.7% |
| Tangible fixed assets | 22/27 | €12,933 | €8,504 | -€4,429 | -34.2% |
| Plant, machinery and equipment | 23 | - | €6,897 | +€6,897 | |
| Furniture and vehicles | 24 | €12,933 | €1,607 | -€11,326 | -87.6% |
| Financial fixed assets | 28 | €2,495 | €2,495 | = | 0.0% |
| Current assets | 29/58 | €276,932 | €265,517 | -€11,415 | -4.1% |
| Stocks and contracts in progress | 3 | €81,077 | €69,927 | -€11,150 | -13.8% |
| Stocks | 30/36 | €81,077 | €69,927 | -€11,150 | -13.8% |
| Amounts receivable within one year | 40/41 | €167,062 | €160,875 | -€6,186 | -3.7% |
| Trade receivables | 40 | €38,564 | €12,542 | -€26,022 | -67.5% |
| Other amounts receivable | 41 | €128,498 | €148,334 | +€19,836 | +15.4% |
| Cash at bank and in hand | 54/58 | €25,576 | €34,714 | +€9,138 | +35.7% |
| Deferred charges and accrued income | 490/1 | €3,217 | €0 | -€3,217 | -100.0% |
| Total equity and liabilities | 10/49 | €292,360 | €276,516 | -€15,844 | -5.4% |
| Equity | 10/15 | €140,642 | €142,995 | +€2,353 | +1.7% |
| Contributions | 10/11 | €21,145 | €21,145 | = | 0.0% |
| Reserves | 13 | €63,217 | €65,365 | +€2,147 | +3.4% |
| Tax-exempt reserves | 132 | €3,481 | €3,128 | -€353 | -10.1% |
| Distributable reserves | 133 | €59,737 | €62,237 | +€2,500 | +4.2% |
| Profit (loss) carried forward | 14 | €56,279 | €56,485 | +€206 | +0.4% |
| Provisions and deferred taxes | 16 | €632 | €544 | -€88 | -14.0% |
| Deferred taxes | 168 | €632 | €544 | -€88 | -14.0% |
| Amounts payable | 17/49 | €151,086 | €132,977 | -€18,109 | -12.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €148,324 | €132,977 | -€15,347 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €15,412 | €526 | -€14,886 | -96.6% |
| Financial debts | 43 | €29,906 | €41,024 | +€11,118 | +37.2% |
| Credit institutions | 430/8 | €7,248 | €12,366 | +€5,118 | +70.6% |
| Other loans | 439 | €22,658 | €28,658 | +€6,000 | +26.5% |
| Trade debts | 44 | €54,479 | €49,808 | -€4,671 | -8.6% |
| Suppliers | 440/4 | €54,479 | €49,808 | -€4,671 | -8.6% |
| Taxes, remuneration and social security | 45 | €40,128 | €35,819 | -€4,309 | -10.7% |
| Taxes | 450/3 | €27,128 | €25,319 | -€1,809 | -6.7% |
| Remuneration and social security | 454/9 | €13,000 | €10,500 | -€2,500 | -19.2% |
| Other amounts payable | 47/48 | €8,400 | €5,800 | -€2,600 | -31.0% |
| Accrued charges and deferred income | 492/3 | €2,762 | €0 | -€2,762 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,977 | €801 | -€1,176 | -59.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,623 | €5,086 | -€11,538 | -69.4% |
| Other operating charges | 640/8 | €6,926 | €2,728 | -€4,198 | -60.6% |
| Gross operating margin | 9900 | €50,088 | €29,391 | -€20,697 | -41.3% |
| Operating profit (loss) | 9901 | €24,561 | €20,776 | -€3,785 | -15.4% |
| Financial income | 75/76B | €7,329 | €7,725 | +€396 | +5.4% |
| Recurring financial income | 75 | €7,329 | €7,725 | +€396 | +5.4% |
| Financial charges | 65/66B | €21,665 | €25,082 | +€3,417 | +15.8% |
| Recurring financial charges | 65 | €21,665 | €25,082 | +€3,417 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €10,225 | €3,419 | -€6,806 | -66.6% |
| Transfer from deferred taxes | 780 | €88 | €88 | = | 0.0% |
| Transfer to deferred taxes | 680 | €720 | €0 | -€720 | -100.0% |
| Income taxes | 67/77 | €1,640 | €1,154 | -€486 | -29.6% |
| Profit (loss) for the period | 9904 | €7,953 | €2,353 | -€5,600 | -70.4% |
| Transfer from tax-exempt reserves | 789 | €353 | €353 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €2,880 | €0 | -€2,880 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,426 | €2,706 | -€2,720 | -50.1% |
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 2 October 2026 via checked.be.